On March 26, 2026, URSB Bancorp, Inc., Carteret, New Jersey, the holding company of United Roosevelt Savings Bank, completed its stock offering in connection with the conversion of United Roosevelt, MHC from a mutual holding company to a stock holding company.  A total of 2,314,375 shares of common stock were sold at a price of $10.00 per share.  URSB Bancorp’s common stock is quoted on the OTCQB Market under the symbol “URSB”.

Luse Gorman served as legal counsel to URSB Bancorp in the transaction. The Luse Gorman team included Lawrence M.F. Spaccasi, Kent M. Krudys, Victor L. Cangelosi and Thomas P. Hutton.

United Roosevelt, MHC had approximately $352.6 million in consolidated assets at September 30, 2025. United Roosevelt Savings Bank provides financial services through two full-service offices in Carteret, New Jersey.

Since 2000, Luse Gorman has been the leading law firm in the United States in mutual holding company transactions and mutual-to-stock conversions, based on number of transactions. Click here to learn more about our capital markets and corporate finance services.