On December 22, 2017, the president signed into law the Tax Cuts and Jobs Act (the “Act”). The Act includes a permanent reduction in the maximum corporate income tax rate from 35% to 21% effective for tax years beginning after December 31, 2017.
Read More...On December 13, 2017, Orange Bank & Trust Company (“Orange Bank & Trust”), Middletown, New York, the wholly-owned subsidiary of Orange County Bancorp, Inc. (“Orange County Bancorp”), entered into an agreement pursuant to which Orange Bank & Trust will sell its Fishkill, New York branch to Salisbury Bank and Trust Company, Lakeville, Connecticut, the wholly-owned subsidiary of Salisbury Bancorp, Inc.
Read More...On December 11, 2017, Union Savings and Loan Association (“Union”), New Orleans, Louisiana, and Hibernia Bancorp, Inc. (“Hibernia Bancorp”), New Orleans, Louisiana, entered into a definitive merger agreement pursuant to which Union will acquire Hibernia Bancorp and its wholly-owned subsidiary, Hibernia Bank, with Union as the resulting institution.
Read More...On December 12, 2017, Peapack-Gladstone Financial Corporation, Bedminster, New Jersey, the holding company for Peapack-Gladstone Bank, completed an underwritten public offering of $35.0 million principal amount of fixed-to-floating rate subordinated notes due 2027.
Read More...On November 16, 2017, CB Financial Services, Inc. (“CB”), Carmichaels, Pennsylvania, and First West Virginia Bancorp, Inc. (“First West Virginia”), Wheeling, West Virginia, entered into a definitive merger agreement pursuant to which First West Virginia will merge with and into CB, with CB as the resulting company, for total merger consideration of approximately $49.0 million.
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