Transactions

Luse Gorman Served as Legal Counsel to Marion and Polk Schools Credit Union in its Acquisition of Lewis & Clark Bank

January 6, 2026

On December 31, 2025, Marion and Polk Schools Credit Union (“Maps”) Salem, Oregon, completed its purchase of substantially all assets and the assumption of substantially all liabilities of Lewis & Clark Bank, Oregon City, Oregon, the wholly-owned subsidiary of Lewis & Clark Bancorp. Following the completion of the transaction, Maps had approximately $1.7 billion in assets and 14 full-service branch locations.

Luse Gorman Served as Legal Counsel to Cornerstone Bank in its Merger with Athol Savings Bank

January 5, 2026

On December 31, 2025, Cornerstone Bank, Spencer, Massachusetts, a subsidiary of PeoplesBancorp, MHC, Holyoke, Massachusetts, completed its previously announced acquisition of Athol Savings Bank, Athol, Massachusetts.

Luse Gorman is Legal Counsel to LINKBANCORP, Inc. in its Proposed Merger with Burke & Herbert Financial Services Corp.

December 19, 2025

On December 18, 2025, LINKBANCORP, Inc., Camp Hill, Pennsylvania, and Burke & Herbert Financial Services Corp., Alexandria, Virginia, entered into a merger agreement pursuant to which LINKBANCORP will merge with and into Burke & Herbert in an all-stock transaction valued at approximately $354 million.

Luse Gorman Served as Legal Counsel to Financial Institutions, Inc. in its $80.0 Million Subordinated Debt Issuance

December 15, 2025

On December 11, 2025, Financial Institutions, Inc. (the “Company”), Warsaw, New York, the holding company for Five Star Bank, completed a private issuance of $80.0 million of 6.50% Fixed-to-Floating Rate Subordinated Notes due 2035. The Company entered into a registration rights agreement with each of the purchasers of the Notes under which it will exchange the Notes for similar notes that are registered under the Securities Act of 1933.

As of September 30, 2025, Financial Institutions, Inc. had $6.3 billion in assets, 50 locations throughout Western New York and one location in the Mid-Atlantic region.

Luse Gorman served as legal counsel to Financial Institutions, Inc. The Luse Gorman team consisted of Ben Azoff, Jeff Cardone, Ellie Cook and Anahita Mohtasham- Gharagozloo.

Luse Gorman has extensive experience representing issuers in public offerings and private placements of capital stock, debt, and other securities. Click here to learn more about our capital markets and corporate finance services.

Luse Gorman Served as Legal Counsel to OneAZ Credit Union in its Acquisition of 1st Bank Yuma

November 26, 2025

On November 21, 2025, OneAZ Credit Union ("OneAZ"), Phoenix, Arizona, completed its purchase of substantially all assets and the assumption of substantially all liabilities of 1st Bank Yuma, Yuma, Arizona, the wholly-owned subsidiary of Western Arizona Bancorp, Inc. Following the completion of the transaction, OneAZ has approximately $4.2 billion in assets and 26 banking locations across Arizona.