Luse Gorman, PC is pleased to announce that once again we were the No. 1 legal advisor in the nation for bank merger and acquisition transactions as reported by SNL Financial. The firm served as counsel in connection with 17 transactions in 2017, covering a broad spectrum of deal types and structures, both on the… Read more »
Posts By: tames
Tax Cuts and Jobs Act Enacted on December 22, 2017: Likely Impacts Deferred Tax Asset Valuation
On December 22, 2017, the president signed into law the Tax Cuts and Jobs Act (the “Act”). The Act includes a permanent reduction in the maximum corporate income tax rate from 35% to 21% effective for tax years beginning after December 31, 2017. Although companies should benefit from the reduced corporate tax rate under the… Read more »
Luse Gorman Serves as Legal Counsel to Orange Bank & Trust Company in its Proposed Branch Sale to Salisbury Bank and Trust Company
On December 13, 2017, Orange Bank & Trust Company (“Orange Bank & Trust”), Middletown, New York, the wholly-owned subsidiary of Orange County Bancorp, Inc. (“Orange County Bancorp”), entered into an agreement pursuant to which Orange Bank & Trust will sell its Fishkill, New York branch to Salisbury Bank and Trust Company, Lakeville, Connecticut, the wholly-owned… Read more »
Luse Gorman Serves as Legal Counsel to Union Savings and Loan Association in its Proposed Acquisition of Hibernia Bancorp, Inc.
On December 11, 2017, Union Savings and Loan Association (“Union”), New Orleans, Louisiana, and Hibernia Bancorp, Inc. (“Hibernia Bancorp”), New Orleans, Louisiana, entered into a definitive merger agreement pursuant to which Union will acquire Hibernia Bancorp and its wholly-owned subsidiary, Hibernia Bank, with Union as the resulting institution. Hibernia Bancorp stockholders will receive $32.00 in… Read more »
Luse Gorman Serves as Legal Counsel to Peapack-Gladstone Financial Corporation in its Offering of $35.0 Million of Subordinated Debt Securities
On December 12, 2017, Peapack-Gladstone Financial Corporation, Bedminster, New Jersey, the holding company for Peapack-Gladstone Bank, completed an underwritten public offering of $35.0 million principal amount of fixed-to-floating rate subordinated notes due 2027. Luse Gorman served as legal counsel to Peapack-Gladstone in the offering. The Luse Gorman team included Michael Brown, Lawrence Spaccasi and Scott… Read more »