Luse Gorman, PC is pleased to announce that we are again the No. 1 legal advisor in the nation, based on number of transactions, for bank merger and acquisitions as reported by S&P Global Market Intelligence.
Read More...On January 14, 2021, Riverview Bank, Harrisburg, Pennsylvania, entered into an agreement to sell two branch operations located in Somerset County in southwestern Pennsylvania to AmeriServ Financial Bank, Johnstown, Pennsylvania, subject to regulatory approvals and other customary closing conditions. As of the date of the agreement, the related deposits totaled approximately $48 million and will be acquired for a 3.71% deposit premium.
Riverview Bank, which is the wholly-owned subsidiary of Riverview Financial Corporation, operates 27 community banking offices and three limited purpose offices located throughout Pennsylvania. Riverview Financial Corporation has approximately $1.4 billion in assets.
AmeriServ Financial Bank, which is the wholly-owned subsidiary of AmeriServ Financial, Inc., provides banking and wealth management services through 16 offices located in southwestern Pennsylvania and Hagerstown, Maryland, as well as loan production offices in Altoona and Monroeville, Pennsylvania. AmeriServ Financial, Inc. has approximately $1.3 billion in assets.
Luse Gorman served as legal counsel to Riverview Bank in the transaction. The Luse Gorman team consisted of Jeffrey Cardone, Benjamin Azoff, and Ellie Cook.
Luse Gorman has served as counsel on more than 100 financial institution mergers and acquisitions during the past five years, which is more than any other legal advisor during that time period. To learn more about our mergers and acquisitions practice, please visit our website.
Read More...On December 31, 2020, First Federal Bank of Wisconsin, a federally chartered stock savings bank and the wholly owned banking subsidiary of FFBW, Inc., Brookfield, Wisconsin (Nasdaq: FFBW) completed its acquisition of Mitchell Bank, a Wisconsin commercial bank located in Milwaukee, Wisconsin.
Luse Gorman served as legal counsel to First Federal Bank of Wisconsin in the transaction. The Luse Gorman team consisted of Kip Weissman, Steven Lanter and Max Seltzer.
Luse Gorman has served as counsel on more than 100 financial institution mergers and acquisitions during the past five years, which is more than any other legal advisor during that time period. To learn more about our mergers and acquisitions practice, please visit our website.
Read More...To our clients and friends:
Recently, Nasdaq filed a proposal with the SEC to adopt new listing rules related to board diversity requirements and disclosure. Our Alert regarding the proposed rules is available here.
Read More...On December 22, 2020, Peapack-Gladstone Financial Corporation, Bedminster, New Jersey, the holding company for Peapack-Gladstone Bank, completed a private placement of $100.0 million of its 3.50% Fixed-to-Floating Rate Subordinated Notes due 2030 (the "Notes"). The Notes are intended to qualify as Tier 2 capital for regulatory purposes.
Luse Gorman served as legal counsel to Peapack-Gladstone Financial Corporation in the offering. The Luse Gorman team consisted of Larry Spaccasi, Scott Brown, Mike Brown and Zachary Davis.
Luse Gorman has extensive experience representing issuers in public offerings and private placements of capital stock, debt, and other securities. To learn more about our Capital Markets and Corporate Finance practice, please visit our website.
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