Luse Gorman is the Top Legal Advisor for Bank Mergers in First Half of 2023

July 13, 2023

Luse Gorman, PC is pleased to announce that we were the No. 1 legal advisor in the nation for bank mergers in the first half of 2023, based on both the number of transactions and deal value, as reported by S&P Global Market Intelligence. The firm’s merger transactions also included representing the buyer in the largest U.S. bank deal announced to date in 2023.

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Luse Gorman is Legal Counsel to Piedmont Federal Savings Bank in its Proposed Merger with Wake Forest Bancshares, Inc.

June 28, 2023

On June 27, 2023, Piedmont Federal Savings Bank, Winston-Salem, North Carolina, entered into a merger agreement with Wake Forest Bancshares, Inc., Wake Forest, North Carolina. Pursuant to the merger agreement, Wake Forest Bancshares, Inc. will merge with and into Piedmont Federal Savings Bank’s mutual holding company parent, Piedmont Financial Holding Company, in an all-cash remutualization transaction valued at approximately $14.9 million.

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Benjamin Azoff was a panelist at Street Talk: US Banking Liquidity Crunch – Fundamental Performance and Outlook Event at Convene / The Club Room, NYC

May 19, 2023

On May 18, 2023, Benjamin Azoff was a panelist at Street Talk: US Banking Liquidity Crunch – Fundamental Performance and Outlook Event hosted by S&P Global Market Intelligence. The event featured two panels of U.S. bank investors and advisers that discussed U.S. bank liquidity trends and their impact on the competitive landscape and investment opportunities in the sector. Key topics included the safety and soundness of U.S. banks, investor sentiment toward the group, and the outlook for M&A activity and potential regulatory and accounting changes on the horizon.

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Alert – SEC Adopts Amendments to Expand Share Repurchase Disclosure

May 17, 2023

To our clients and friends:

The SEC recently adopted a final rule to expand disclosure requirements related to an issuer’s repurchase of its equity securities, also known “buybacks.” On October 1, 2023, issuers must start tracking new details about all share repurchases. Our Alert regarding the new requirements is available here.

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