On January 12, 2021, Generations Bancorp NY, Inc., Seneca Falls, New York, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering.
Read More...On January 20, 2021, Community First Bancshares, Inc., Covington, Georgia, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering.
Read More...We are pleased to announce that Luse Gorman, PC has again received the No. 1 National Ranking as legal counsel for mutual-to-stock conversions and mutual holding company transactions, as reported by S&P Global Market Intelligence, for transactions completed in 2020.
Read More...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.
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