On May 9, 2024, LINKBANK, Camp Hill, Pennsylvania, entered into a definitive agreement to sell its three New Jersey branches to American Heritage Federal Credit Union. Under the agreement, LINKBANK will sell approximately $105 million in deposits and $123 million in loans. The deposit premium is 7%.
Read More...On May 3, 2024, Lake City Federal Bank, Lake City, Minnesota, completed its merger into Forward Bank, Marshfield, Wisconsin.
Read More...On April 29, 2024, Territorial Bancorp Inc., Honolulu, Hawaii, announced the signing of a merger agreement with Hope Bancorp, Inc., Los Angeles, California, pursuant to which Territorial Bancorp will merge with and into Hope Bancorp in an all-stock transaction valued at approximately $79 million.
Read More...On April 30, 2024, Texas Dow Employees Credit Union ("TDECU"), Houston, Texas, announced that it had entered into a definitive agreement to acquire Sabine State Bank and Trust ("Sabine"), Many, Louisiana, the wholly-owned subsidiary of Sabine Bancshares, Inc.
Read More...On April 17, 2024, Arlo Financial Holdings, Inc., a Missouri corporation formed by an investor group of experienced bankers, and Systematic Savings Bank, Springfield, Missouri, announced their definitive agreement for Arlo Financial to acquire Systematic Savings Bank in an all-cash transaction valued at approximately $14.0 million.
In connection with the transaction, Arlo Financial will become the bank holding company for Systematic Savings Bank.
Luse Gorman is serving as legal counsel to Arlo Financial in the transaction. The Luse Gorman team consists of Steven Lanter, Ben Azoff, Gregory Sobczak and Brendan Saxon.
Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.
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