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.
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November 25, 2025
On November 24, 2025, Blue Foundry Bancorp, Rutherford, New Jersey, and Fulton Financial Corporation, Lancaster, Pennsylvania, announced the execution of a merger agreement pursuant to which Blue Foundry will merge with and into Fulton Financial in an all-stock transaction valued at approximately $243 million.
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November 20, 2025
To Our Clients and Friends:
On November 17, 2025, the Securities and Exchange Commission (the “SEC”) announced that it will no longer respond to most no-action requests from companies to exclude shareholder proposals (the “Statement”) to be included in proxy statements for the 2025-26 proxy season. The Statement enables companies to more easily exclude shareholder proposals during the 2025-26 proxy season, reflecting the continuing trend of the SEC reducing its enforcement role. Our Alert covering the Order and key takeaways is available here.
Luse Gorman, PC regularly advises companies regarding corporate governance, shareholder matters and SEC developments. If you have any questions related to this Legal Update, please reach out to your usual firm contact. To learn more about our firm and services, please visit our website.
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November 19, 2025
On November 17, 2025, GECU Federal Credit Union (“GECU”), El Paso, Texas, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Bank of the Southwest, Roswell, New Mexico, the wholly-owned subsidiary of New Mexico National Financial Incorporated.
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November 12, 2025
On November 6, 2025, Univest Financial Corporation, Souderton, Pennsylvania, the holding company for Univest Bank and Trust Co., completed a private issuance of $50.0 million of 6.00% Fixed-to-Floating Rate Subordinated Notes due 2035, with registration rights. 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.
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