October 28, 2019
Jeff Cardone presented at the Wisconsin Bankers Association’s Directors Summit on October 15, 2019 in Madison, Wisconsin. The presentation titled “Corporate Governance Hot Topics” focused on strategic planning best practices for community bank boards and senior management related to capital planning and mergers and acquisitions and also discussed recent regulatory developments, including the community bank leverage ratio final rule issued by the FDIC and the SAFE Banking Act related to banking cannabis-related businesses.
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October 24, 2019
On October 22, 2019, PB Bancorp, Inc., Putnam, Connecticut, the holding company for Putnam Bank, a Connecticut-chartered stock savings bank, and Centreville Bank, West Warwick, Rhode Island, a Rhode Island-chartered mutual savings bank, announced the signing of a definitive merger agreement pursuant to which Centreville Bank will acquire PB Bancorp and Putnam Bank, with Centreville Bank as the surviving institution.
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October 23, 2019
On October 16, 2019, Provident Bancorp, Inc., Amesbury, Massachusetts, the holding company of The Provident Bank, completed its conversion from the mutual holding company to the stock holding company form of organization and related stock offering, whereby Provident Bancorp sold $102.1 million of common stock at $10.00 per share.
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October 1, 2019
On September 27, 2019, First Mutual Holding Co., a mutual holding company headquartered in Lakewood, Ohio (“First Mutual”), and Warsaw Federal Savings and Loan Association, a mutual savings association headquartered in Cincinnati, Ohio (“Warsaw”), announced the signing of a definitive merger agreement pursuant to which First Mutual will acquire Warsaw and hold it as a separate bank subsidiary.
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September 27, 2019
Jeff Cardone and Ben Azoff presented at the Independent Bankers Association of New York State’s 2019 Executive Symposium on September 10, 2019. The presentation, titled “Critical Issues Facing the Leadership of Today’s Community Banks” focused on current trends and issues impacting community banks, including the current mergers and acquisitions landscape, emerging regulatory trends and corporate governance hot topics.
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