January 7, 2022
On January 6, 2022, Citizens Bank of Cape Vincent, Cape Vincent, New York, announced the signing of a definitive merger agreement with Cambray Mutual Holding Company, Gouverneur Bancorp, Inc. and Gouverneur Savings and Loan Association, Gouverneur, New York, pursuant to which Citizens Bank of Cape Vincent will merge with and into Gouverneur Savings and Loan Association in an all-cash transaction valued at approximately $8.4 million.
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January 6, 2022
On January 1, 2022, BayVanguard Bank, Edgemere, Maryland, completed its acquisition of North Arundel Savings Bank, Pasadena, Maryland. As part of the acquisition, BV Financial, Inc., the mid-tier holding company of BayVanguard Bank, issued 251,004 shares of its common stock to Bay-Vanguard, M.H.C., BayVanguard Bank’s mutual holding company parent.
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January 5, 2022
On December 29, 2021, First Financial Credit Union, Skokie, Illinois completed a private placement of $2.0 million of its 4.25% fixed rate subordinated notes due January 1, 2032. The subordinated notes are intended to qualify as secondary capital under NCUA rules.
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December 17, 2021
On December 17, 2020, the NCUA adopted a final rule expanding access to subordinated debt and modifying the NCUA’s existing secondary capital rules for low-income designated credit unions.
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December 13, 2021
On December 10, 2021, CB Financial Services, Inc., Carmichaels, Pennsylvania, the holding company for Community Bank, completed a private placement of $15.0 million of its 3.875% Fixed-to-Floating Rate Subordinated Notes due 2031.
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