On April 25, 2019, New Bancorp, Inc., New Buffalo, Michigan, the holding company for New Buffalo Savings Bank, and Teachers Credit Union (“TCU”), announced the execution of a purchase and assumption agreement pursuant to which TCU will acquire the assets and assume the liabilities of New Bancorp and New Buffalo in an all cash transaction.
Read More...Gary A. Lax presented “A Banker’s Guide to Banking the Cannabis Industry” as a one-day seminar offered by the Pennsylvania Association of Community Bankers on April 25, 2019, in Hershey, PA . The presentation discussed marijuana-related businesses and industrial hemp, the status of federal and state laws, and the elements of a risk assessment and compliance program to on-board customers and provide financial products and services to these customers.
Read More...The Securities and Exchange Commission recently adopted amendments that further modernize and simplify the disclosure requirements for filings submitted to the SEC. The attached newsletter provides a review of certain changes resulting from these amendments.
Read More...Jeff Cardone presented at the Independent Bankers Association of New York State 2019 Directors Conference on April 16 and April 17. The presentation titled “Considering Capital and M&A in the Strategic Plan.” The presentation focused on how M&A and capital alternatives fit into the Board’s strategic plan and discussed key considerations with respect to raising capital and M&A transactions, including the new capital rules and framework under the Regulatory Relief Act, critical elements of a successful M&A transaction and compensation issues.
Read More...On April 9, 2019, Beverly Financial, MHC, Beverly, Massachusetts, the holding company for Beverly Bank, and North Shore Bancorp, Peabody, Massachusetts, the holding company for North Shore Bank, announced a definitive merger agreement pursuant to which Beverly will merge with and into North Shore.
Read More...