September 9, 2024
On September 5, 2024, The First of Long Island Corporation, Melville, New York, announced the signing of a merger agreement with ConnectOne Bancorp, Inc., Englewood Cliffs, New Jersey, pursuant to which First of Long Island will merge with and into ConnectOne in an all-stock transaction valued at approximately $284 million. The board of directors of the surviving company will be composed of the current directors of ConnectOne and three members of the current First of Long Island board of directors, including First of Long Island CEO Christopher Becker who will serve as Vice Chairman.
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September 6, 2024
To our clients and friends:
Today we published Volume 9 of The Bankers’ Bulletin. You can find a copy of this edition here.
In this volume, we cover the FDIC’s proposed revisions to its brokered deposit regulation, FRB guidance on utilizing the discount window, the CFPB’s legal victory in a challenge to its small business lending rule, an appellate court decision on the scope of national bank preemption, Senate Republicans’ push for the withdrawal of the FDIC’s corporate governance rule, and more.
If you have any questions related to any of the items covered in the Bulletin, please reach out to Brendan Clegg (bclegg@luselaw.com), Marc Levy (mlevy@luselaw.com), Agata Troy (atroy@luselaw.com), or your regular Firm contact. To learn more about our firm and services, please visit our website.
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September 5, 2024
On August 31, 2024, Michigan State University Federal Credit Union, East Lansing, Michigan (MSUFCU) completed its acquisitions of McHenry Savings Bank, McHenry, Illinois and Algonquin State Bank, Algonquin, Illinois. Following the completion of these acquisitions, MSUFCU has approximately $9.0 billion in assets.
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September 4, 2024
On September 1, 2024, Johnson County Bank, Mountain City, Tennessee, completed its merger with Skyline Bankshares, Inc., Floyd, Virginia, the holding company for Skyline National Bank.
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August 21, 2024
To our clients and friends:
On August 20, 2024, the U.S. District Court for the Northern District of Texas issued a ruling which set aside the Federal Trade Commission’s final rule that would have banned certain non-compete agreements between an employer and an employee.
Our Alert regarding the court’s decision on non-compete agreements is available here.
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