On July 16, 2019, Ben Franklin Bank of Illinois, Arlington Heights, Illinois, its parent company, Ben Franklin Financial, Inc., and Corporate America Family Credit Union (“CAFCU”), Elgin, Illinois, announced that CAFCU will acquire the assets and assume the liabilities of Ben Franklin Bank in an all cash transaction. Following the completion of the acquisition, Ben… Read more »
Posts By: tames
Luse Gorman Serves as Legal Counsel to Oritani Financial Corp. in its Proposed Merger with Valley National Bancorp
On June 26, 2019, Oritani Financial Corp., Township of Washington, New Jersey, the holding company for Oritani Bank, and Valley National Bancorp, Wayne, New Jersey, the holding company for Valley National Bank, announced the execution of a definitive merger agreement pursuant to which Oritani will merge with and into Valley, with Valley as the resulting… Read more »
SEC Proposes Changes to Its Definitions of Accelerated and Large Accelerated Filers
The Securities and Exchange Commission recently proposed amendments to its definitions of “accelerated filer” and “large accelerated filer.” The attached newsletter provides a review of the proposed changes and discusses how those changes would affect public companies’ periodic reporting with the SEC.
Jeff Cardone presented at the New York Credit Union Association Excel 19 Forum
Jeff Cardone presented at the New York Credit Union Association Excel 19 Forum on June 15, 2019. The presentation titled “Do You Want to Buy a Bank?” The presentation focused on how the acquisition of banks by credit unions has become more common. The presentation also analyzed the factors that drive credit union/bank transactions, including… Read more »
OCC Issues Final Rule to Allow Certain Federal Savings Associations to Elect to Operate with National Bank Powers
To our clients and friends: On May 24, 2019, the Office of the Comptroller of the Currency (“OCC”) issued its final rule (which becomes effective July 1, 2019) to allow a federal savings association with total consolidated assets of $20 billion or less as of December 31, 2017 to elect to operate with national bank… Read more »