On January 6, 2022, Lakeland Bancorp, Inc., Oak Ridge, New Jersey, the holding company for Lakeland Bank, completed its acquisition of 1st Constitution Bancorp, Cranbury, New Jersey, the holding company for 1st Constitution Bank in an all-stock transaction. The combined organization will be the 5th largest bank headquartered in New Jersey with over $10 billion in assets.
Read More...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.
Read More...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.
Read More...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.
Read More...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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