On January 1, 2026, Zeal Credit Union, Livonia, Michigan, completed its purchase of substantially all assets and the assumption of substantially all liabilities of Gogebic Range Bank, Ironwood, Michigan, the wholly-owned subsidiary of West End Financial Corp. Following the completion of the transaction, Zeal Credit Union had over $1.0 billion in assets and 17 branch locations.
Read More...On January 14, 2026, Community Bank, N.A. (“Community Bank”), a subsidiary of Community Financial System, Inc., entered into an agreement to acquire ClearPoint Federal Bank & Trust (“ClearPoint”) in an all-cash transaction valued at $40 million, subject to a potential purchase price adjustment.
Read More...Today we published Volume 25 of The Bankers’ Bulletin, which provides our insights into key banking industry developments from December 2025, including:
Read More...To Our Clients and Friends:
Banks that allow employees to purchase employer stock through incentive stock options (“ISOs”) or an employee stock purchase plan (“ESPP”) should be aware of the upcoming February 2, 2026 deadline for employers to deliver a completed Form 3921 or 3922 to employees, setting forth the details of the employee’s 2025 exercise of ISOs or purchase of shares through an ESPP, respectively. Shortly thereafter, the employer must also file the IRS Form 3921 or 3922 with the IRS. Our Legal Update covering these requirements is available here.
Luse Gorman, PC regularly advises companies regarding corporate governance, shareholder matters and SEC developments. If you have any questions related to this Legal Update, please reach out to your usual firm contact. To learn more about our firm and services, please visit our website.
Read More...To our clients and friends:
On January 7, 2025, the National Credit Union Administration (the “NCUA”) issued to all federally-insured credit unions Letter 25-CU-01 entitled “NCUA’s 2025 Supervisory Priorities.” The NCUA notes that its supervisory priorities focus on the areas posing the highest risk to credit union members, the credit union industry, and the National Credit Union Share Insurance Fund. In addition to noting the areas of supervisory focus in the coming year, the guidance collects prior guidance issued by the NCUA, which every credit union should review and be familiar with before any upcoming examination. Our Alert regarding the NCUA’s supervisory priorities is available here.
Luse Gorman routinely advises credit unions on compliance issues, regulatory questions, and enforcement actions, and counsels those institutions on the impacts of new developments at the federal and state level. To learn more about our firm and services, please visit our website.
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