Alert – Volume 17 of the Bankers’ Bulletin
To our clients and friends:
Today we published Volume 17 of The Bankers’ Bulletin, providing our insights into key banking industry developments from April 2025, including:
Luse Gorman is Legal Counsel to Frontier Credit Union in its Proposed Acquisition of First Citizens Bank of Butte
On May 1, 2025, Frontier Credit Union (“Frontier”), Idaho Falls, Idaho, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of First Citizens Bank of Butte (“First Citizens”), Butte, Montana.
Read More...Luse Gorman Served as Legal Counsel to Mid-Southern Savings Bank, FSB in its Completed Acquisition by Beacon Credit Union
On April 25, 2025, Mid-Southern Savings Bank, FSB, Salem, Indiana, and its parent company, Mid-Southern Bancorp, Inc., completed a purchase and assumption transaction with Beacon Credit Union (“BCU”), Wabash, Indiana, in which BCU has acquired substantially all the assets and assumed substantially all the liabilities of Mid-Southern Bank in an all-cash transaction.
Read More...Luse Gorman is Legal Counsel to First Interstate Bank in the Proposed Sale of its Arizona and Kansas Banking Offices to Enterprise Bank & Trust
On April 28, 2025, First Interstate Bank, Billings, Montana, entered into a definitive agreement to sell twelve branches – its ten Arizona branches and two Kansas branches – to Enterprise Bank & Trust, Clayton, Missouri. Under the agreement, First Interstate Bank will sell the branch facilities together with approximately $740 million in deposits and $200 million in loans.
Read More...Luse Gorman Served as Legal Counsel to Marathon Bancorp, Inc. in its Conversion and Related $16.9 Million Stock Offering
On April 21, 2025, Marathon Bancorp, Inc., Wausau, Wisconsin, the holding company for Marathon Bank, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering. A total of 1,693,411 shares of common stock were sold at a price of $10.00 per share. Marathon Bancorp’s common stock trades on the Nasdaq Capital Market under the symbol “MBBC.”
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