On March 26, 2026, 1864 Bancorp, Inc., North Easton, Massachusetts, the holding company for North Easton Savings Bank, completed a private placement of $40.0 million of 6.50% Fixed-to-Floating Rate Subordinated Notes due 2036.
Read More...On March 25, 2026, Ballston Spa Bancorp, Inc. (the “Company”), Ballston Spa, New York, the holding company for Ballston Spa National Bank, completed a private placement of $26.0 million of 7.375% Fixed-to-Floating Rate Subordinated Notes due 2036.
Read More...On March 26, 2026, URSB Bancorp, Inc., Carteret, New Jersey, the holding company of United Roosevelt Savings Bank, completed its stock offering in connection with the conversion of United Roosevelt, MHC from a mutual holding company to a stock holding company. A total of 2,314,375 shares of common stock were sold at a price of $10.00 per share. URSB Bancorp’s common stock is quoted on the OTCQB Market under the symbol “URSB”.
Read More...On March 26, 2026, Peapack-Gladstone Financial Corporation, the holding company for Peapack Private Bank & Trust, issued 30,000 shares of newly-created 6.00% Non-Cumulative Perpetual Convertible Preferred Stock in a private placement transaction, resulting in gross proceeds of $30.0 million. Additionally, the Company has the right, in its sole discretion, to sell an additional 20,000 shares of the Preferred Stock by December 31, 2027.
Read More...Today we published Volume 27 of The Bankers’ Bulletin, which provides our insights into key banking industry developments from February 2026, including:
• A federal court’s upholding of Illinois’ interchange fee prohibition law;
• The OCC’s proposal for a new bank appeals process;
• FinCEN’s exceptive relief from CDD Rule requirements;
• The FRB’s proposal to remove reputation risk from supervision;
• The OCC’s proposed rule to implement the GENIUS Act;
and more.
A link to the latest edition of the Bulletin is available here. If you have any questions related to any of the items covered in this edition of the Bulletin, please reach out to Brendan Clegg (bclegg@luselaw.com), Marc Levy (mlevy@luselaw.com), Scott Brown (sbrown@luselaw.com), Keeler Fina (kfina@luselaw.com), or your regular Firm contact. To learn more about Luse Gorman, please visit our website.