On November 8, 2016, Heartland Financial USA, Inc., a Dubuque, Iowa-based bank holding company with over $8.0 billion in assets, completed a $50.0 million public offering of 1,379,690 shares of its common stock. Raymond James & Associates, Inc. served as the sole underwriter in the offering. Luse Gorman represented Raymond James in the offering. The… Read more »
Posts By: tames
Luse Gorman Serves as Legal Counsel to Georgetown Bancorp, Inc. in its Proposed Merger with Salem Five Bancorp
On October 5, 2016, Georgetown Bancorp, Inc. (“Georgetown Bancorp”), Georgetown, Massachusetts, and Salem Five Bancorp (“Salem Five Bancorp”), Salem, Massachusetts, entered into a definitive merger agreement pursuant to which Salem Five Bancorp will acquire Georgetown Bancorp for approximately $49.2 million in cash. Upon completion of the merger, Georgetown Bank, the subsidiary of Georgetown Bancorp, will… Read more »
Luse Gorman Serves as Legal Counsel to Northwest Bank in its Acquisition of 18 Branches from First Niagara Bank
On September 9, 2016, Northwest Bank, Warren, PA, the wholly-owned subsidiary of Northwest Bancshares, Inc. (“Northwest”), completed its acquisition of 18 bank branches from First Niagara Bank, Buffalo, NY, the wholly-owned subsidiary of First Niagara Financial Group, Inc., which were divested by First Niagara Bank as part of KeyCorp’s acquisition of First Niagara Financial Group,… Read more »
Luse Gorman Serves as Legal Counsel to Standard Financial Corp. in its Proposed Merger with Allegheny Valley Bancorp
On August 29, 2016, Standard Financial Corp. (“Standard Financial”), Monroeville, Pennsylvania, and Allegheny Valley Bancorp (“Allegheny Valley”), Pittsburgh, Pennsylvania, entered into a definitive merger agreement pursuant to which Allegheny Valley will merge with and into Standard Financial in an all stock transaction, with Standard Financial as the resulting company, which will be renamed Standard AVB… Read more »
Newsletter – New 10b5-1 Plan Rules
To our clients and friends: The SEC recently approved amendments to Rule 10b5-1 regarding insider trading plans to revise the conditions that must be met for insiders to be able to use the 10b5-1 affirmative defense including, among other things, cooling-off periods, representations from plan participants and new periodic disclosure requirements for issuers and their… Read more »