Luse Gorman Served as Legal Counsel to Harborstone Credit Union in its Acquisition of First Sound Bank
On May 15, 2024, Harborstone Credit Union, Lakewood, Washington, completed its acquisition of First Sound Bank, Seattle, Washington.
Read More...Luse Gorman Served as Legal Counsel to Lakeland Bancorp, Inc. in its Merger with Provident Financial Services, Inc.
On May 15, 2024, Lakeland Bancorp, Inc., Oak Ridge, New Jersey, the holding company for Lakeland Bank, completed its merger with Provident Financial Services, Inc., Iselin, New Jersey, the holding company for Provident Bank.
Read More...Luse Gorman is Legal Counsel to Pima Federal Credit Union in its Proposed Acquisition of Republic Bank of Arizona
On May 16, 2024, Pima Federal Credit Union, Tucson, Arizona, entered into a definitive agreement to acquire substantially all of the assets and assume substantially all of the liabilities of Republic Bank of Arizona, Phoenix, Arizona, the wholly owned subsidiary of RBAZ Bancorp, Inc. Under the agreement, RBAZ Bancorp, Inc. shareholders will receive approximately $22.00 per share of fully diluted common stock held, representing aggregate consideration of $43.7 million.
Read More...Luse Gorman Served as Legal Counsel to Provident Financial Services, Inc. in its $225.0 Million Subordinated Debt Issuance
On May 13, 2024, Provident Financial Services, Inc., Iselin, New Jersey, the holding company for Provident Bank, completed a public offering of $225.0 million of its 9.00% Fixed-to-Floating Rate Subordinated Notes due 2034. This was the first completed Kroll-rated public offering of subordinated notes for a bank holding company since 2022.
Read More...Luse Gorman is Legal Counsel to LINKBANK in the Proposed Sale of its New Jersey Operations to American Heritage Federal Credit Union
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%.
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