On March 14, 2018, Coastway Bancorp, Inc., Warwick, Rhode Island, and HarborOne Bancorp, Inc., Brockton, Massachusetts, entered into a definitive merger agreement pursuant to which HarborOne Bancorp will acquire Coastway Bancorp in an all-cash transaction. The total merger consideration is approximately $125.6 million, and Coastway Bancorp stockholders will receive $28.25 in cash for each share… Read more »
Posts By: tames
New Disability Determination Procedures
The Department of Labor has issued a new final rule (the “Rule”) that will apply to certain disability claims filed on and after April 2, 2018. The Rule covers all employee benefit plans that are subject to the Employee Retirement Income Security Act of 1974, and provide a benefit upon a determination of disability. The… Read more »
John Gorman presented at the board-prep program “From Battlefield to Boardroom” sponsored by the National Association of Corporate Directors (NACD)
On February 22, 2018, John Gorman presented at the board-prep program “From Battlefield to Boardroom” sponsored by the National Association of Corporate Directors (NACD). John addressed the retired flag and general officers of the United States armed forces in attendance on the “Role of the Delaware Courts.” John is a faculty member of the NACD… Read more »
Luse Gorman Serves as Legal Counsel to Liberty Federal Savings Bank in its Proposed Merger with Great Plains National Bank
On February 13, 2018, Liberty Federal Savings Bank (“Liberty FSB”), Enid, Oklahoma, and Great Plains National Bank, (“Great Plains”), Elk City, Oklahoma, jointly announced that Liberty FSB will merge with and into Great Plains, with Great Plains as the resulting institution. The combined institution will have total assets of approximately $700 million. Liberty FSB has… Read more »
Tax Reform Compensation and Benefits Alert
The Tax Cuts and Jobs Act (the “Act”) became law in December, and now would be a good time to begin reviewing its implications for your compensation plans and other benefits arrangements. The Act makes the most sweeping changes to the Internal Revenue Code (“Code”) in over 30 years. While tax-qualified plans and non-qualified plans… Read more »