On July 12, 2016, Marlborough Savings Bank (“Marlborough”), Marlborough, Massachusetts, and North Middlesex Savings Bank, (“North Middlesex”), Ayer, Massachusetts jointly announced that North Middlesex will merge with and into Marlborough. The resulting institution will change its name as a part of the transaction. Under the terms of the merger agreement, the board of Marlborough following… Read more »
Posts By: tames
Luse Gorman Serves as Legal Counsel to Abington Bank in its Proposed Merger with Avon Co-operative Bank
On May 17, 2017, Abington Bank (“Abington”), Abington, Massachusetts, and Avon Co-operative Bank, (“Avon”), Avon, Massachusetts, jointly announced that Avon will merge with and into Abington, with Abington as the resulting institution. The combined institution will have total assets of approximately $330 million. Luse Gorman served as legal counsel to Abington in the transaction. The… Read more »
Luse Gorman Serves as Legal Counsel to Newton Federal Bank in its MHC Reorganization and Offering of $34.7 Million of Common Stock
On April 28, 2017, Newton Federal Bank, Covington, Georgia, completed its mutual holding company reorganization and concurrent initial public offering by Community First Bancshares, Inc. (“Community First”), the holding company of Newton Federal Bank. Community First sold 3,467,595 shares of its common stock in a subscription offering at $10.00 per share, representing 46% of Community… Read more »
Luse Gorman Serves as Legal Counsel to PCSB Bank in its Mutual-to-Stock Conversion and Concurrent Holding Company Offering of $178.3 Million of Common Stock
On April 20, 2017, PCSB Bank completed its mutual-to-stock conversion and concurrent initial public offering by PCSB Financial Corporation (“PCSB Financial”), Yorktown Heights, New York, the holding company of PCSB Bank, whereby PCSB Financial sold 17.8 million shares of its common stock at $10.00 per share. As part of the $178.3 million initial public offering,… Read more »
Luse Gorman Serves as Legal Counsel to CBT Financial Corp. in its Proposed Merger of Equals with Riverview Financial Corporation
On April 19, 2017, CBT Financial Corp. (“CBT Financial”), Clearfield, Pennsylvania, and Riverview Financial Corporation (“Riverview Financial”), Harrisburg, Pennsylvania, entered into a definitive merger agreement pursuant to which CBT Financial will merge with Riverview Financial in a merger of equals, with Riverview Financial as the resulting company. The total merger consideration is approximately $48.8 million… Read more »