Jeff Cardone represents financial institutions in various corporate, regulatory, executive compensation and securities matters. He also represents financial institutions and other corporations in transactional matters, including in mergers and acquisitions, purchase and assumption transactions, credit union acquisitions of banks, branch sales, mutual-to-stock conversions, mutual holding company formations, public offerings and private placements, and ESOP transactions. Mr. Cardone also assists financial institutions with federal and state regulatory compliance matters.
Mr. Cardone counsels publicly-traded, privately-held and tax exempt financial institutions on a wide range of executive compensation matters, including designing and drafting executive and director compensation arrangements (including employment and change in control agreements, SERPs, 457(f) plans and equity and phantom stock arrangements), with a strong background in Sections 409A and 162(m) of the Internal Revenue Code, quantifying potential change in control benefits and related tax planning to avoid or mitigate adverse tax consequences under Section 280G of the Internal Revenue Code, and complying with SEC executive compensation disclosure requirements.
Mr. Cardone regularly speaks about strategic planning, corporate governance, regulatory and compensation matters to various financial institutions industry groups, including New York Bankers Association, the Independent Bankers Association of New York State, New York Credit Union Association, Independent Community Bankers Association of Minnesota, Indiana Bankers Association, South Carolina Bankers Association and Wisconsin Bankers Association.
- Mergers and Acquisitions
- Capital Markets and Corporate Finance
- Mutual-to-stock conversions
- Mutual holding company reorganizations and stock offerings
- Corporate Governance
- Credit Unions
- Executive Compensation, Employee Benefits and Taxation
Pioneer Bancorp, Inc. and its wholly-owned subsidiary, Pioneer Bank, Albany, NY, in its mutual holding company reorganization and $111.7 million public stock offering.
Orange County Bancorp, Inc., Middletown, NY, in a private placement of $16.4 million of its common stock to certain accredited investors.
Sunshine Bancorp, Inc., Plant City, Florida, in its $176.7 million merger with CenterState Bank Corporation.
Mazzone Management Group, Clifton Park, NY, in its sale of certain assets and business units to Compass Group PLC, a multinational contract food service corporation.
Hometown Bancorp MHC, Walden, NY, and its wholly-owned subsidiaries, Hometown Bancorp, Inc. and Hometown Bank of the Hudson Valley (together, “Hometown”) in their remutualization of a public mutual holding company as result of Hometown’s merger with Wallkill Valley Federal Savings and Loan Association, a mutual savings and loan association.
Monadnock Community Bank, Peterborough, New Hampshire in its sale to GFA Federal Credit Union in a precedent setting transaction involving the first sale of a stock savings bank to a credit union.
Investors Bancorp, Inc., Short Hills, New Jersey, in its conversion from a mutual holding company to a stock holding company and concurrent $2.2 billion public offering of common stock, including purchases of common stock by a leveraged ESOP in the offering.