Luse Gorman Served as Legal Counsel to Seneca Bancorp, Inc. in its Conversion and Related $10.4 Million Stock Offering

October 16, 2025

On October 15, 2025, Seneca Bancorp, Inc., Baldwinsville, New York, the holding company for Seneca Savings Bank, National Association, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering. At the same time, Seneca Savings Bank converted its charter from a federal savings association to a national banking association. A total of 1,044,858 shares of common stock were sold in the offering at $10.00 per share. Seneca Bancorp’s common stock is quoted on the OTCQX Market under the symbol "SNNF."

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Luse Gorman Serves as Legal Counsel to First Savings Financial Group, Inc. in its Proposed Merger with First Merchants Corporation

September 26, 2025

On September 25, 2025, First Savings Financial Group, Inc. (“First Savings”), the holding company for First Savings Bank, and First Merchants Corporation (“First Merchants”), the holding company for First Merchants Bank, announced the signing of a definitive agreement pursuant to which First Savings will merge with and into First Merchants and First Savings Bank will merge with and into First Merchants Bank. The all-stock transaction is valued at approximately $241.3 million.

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Luse Gorman Served as Legal Counsel to Ballston Spa Bancorp, Inc. in its Proposed Merger of Equals with NBC Bancorp, Inc.

September 25, 2025

On September 23, 2025, Ballston Spa Bancorp, Inc. (“Ballston Spa”), the holding company for Ballston Spa National Bank, and NBC Bancorp, Inc. (“NBC”), the holding company for The National Bank of Coxsackie, entered into an agreement for a merger of equals, with Ballston Spa and Ballston Spa National Bank as the surviving entities. The all-stock transaction is valued at approximately $26.0 million.

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