On January 25, 2024, Mid-Southern Bancorp, Inc. and its wholly-owned subsidiary, Mid-Southern Savings Bank, FSB, announced the signing of a definitive purchase and assumption agreement with Beacon Credit Union, pursuant to which Beacon Credit Union will acquire the assets and assume the liabilities of Mid-Southern Savings Bank, FSB in an all cash transaction. Following the completion of the acquisition, Mid-Southern Bancorp will settle its remaining obligations and distribute its remaining cash to its shareholders. The distribution to shareholders is currently estimated to be between $15.00 and $17.00 per share of Mid-Southern Bancorp common stock.
Luse Gorman is serving as legal counsel to Mid-Southern Bancorp, Inc. and Mid-Southern Savings Bank, FSB in the transaction. The Luse Gorman team consists of Steve Lanter, Michael Brown, Greg Sobczak and Brendan Saxon.
Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past five 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.