On April 17, 2020, Citizens Financial Services, Inc., Mansfield, Pennsylvania (“Citizens”), the holding company for First Citizens Community Bank, successfully completed its acquisition of MidCoast Community Bancorp, Inc., Wilmington, Delaware (“MidCoast”), the holding company for MidCoast Community Bank. Under the terms of the merger agreement, each outstanding share of MidCoast common stock was converted into… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to PB Bancorp, Inc. in its Merger with Centreville Bank
On May 1, 2020, PB Bancorp, Inc., Putnam, Connecticut, the holding company for Putnam Bank, successfully completed its merger with Centreville Bank, West Warwick, Rhode Island. With $529.5 million in assets, PB Bancorp, Inc. operated eight full-service offices and one loan center in Connecticut. Under the terms of the merger agreement, each share of common… Read more »
Alert – Payment Protection Program – Latest Developments as of May 15, 2020
To our clients and friends: On May 13, 2020, the U.S. Small Business Administration (“SBA”), in consultation with the U.S. Department of the Treasury, updated their Frequently Asked Questions Memorandum (the “FAQ”) concerning the Paycheck Protection Program (the “PPP”). Most significantly, the FAQ: (1) clarifies that a safe harbor is provided regarding the SBA’s review… Read more »
Luse Gorman Served as Legal Counsel to FSB Bancorp, Inc. in its Merger with Evans Bancorp, Inc.
On May 1, 2020, FSB Bancorp, Inc., Fairport, New York, the holding company for Fairport Savings Bank, successfully completed its merger with Evans Bancorp, Inc., Hamburg, New York, the holding company for Evans Bank. With $323.3 million in assets, FSB Bancorp, Inc. operated five full-service offices in the greater Rochester metropolitan area. Under the terms of… Read more »
Luse Gorman is the Top Legal Advisor in 2019 for Common Stock Offerings
Luse Gorman, PC is pleased to announce that in 2019 we were the No. 1 legal advisor in the nation for common stock offerings by financial institutions, as reported by S&P Global Market Intelligence. Luse Gorman completed almost one-third of all stock offerings by financial institutions in 2019, three times more than any other legal… Read more »