On December 22, 2020, Peapack-Gladstone Financial Corporation, Bedminster, New Jersey, the holding company for Peapack-Gladstone Bank, completed a private placement of $100.0 million of its 3.50% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Notes are intended to qualify as Tier 2 capital for regulatory purposes. Luse Gorman served as legal counsel to Peapack-Gladstone… Read more »
Posts By: Elizabeth Cook
ALERT – Impact of COVID-19 on Performance-Based Compensation – Key Considerations
To our clients and friends: For many banks, the impact of COVID-19 on the financial performance has reduced or eliminated entirely the achievement of the 2020 performance-based compensation goals established before the breakout of the pandemic. As 2020 comes to an end, banks will need to evaluate the impact of COVID-19 on their performance-based compensation,… Read more »
ALERT – SEC Adopts Changes to MD&A and Financial Disclosure Rules
To our clients and friends: The SEC recently adopted amendments to modernize, simplify and enhance certain financial disclosure provisions, including the MD&A section. Our Alert regarding the changes is available here.
Luse Gorman is Legal Counsel to Berkshire Bank in its Proposed Sale of Branches to Investors Bank
On December 2, 2020, Berkshire Bank, Boston, Massachusetts, entered into an agreement to sell its Mid-Atlantic branches, consisting of six offices in New Jersey and two in Pennsylvania, to Investors Bank, Short Hills, New Jersey, subject to customary regulatory approvals. Investors Bank, which is the wholly-owned subsidiary of Investors Bancorp, Inc., operates 155 branches located… Read more »
ALERT – SEC Adopts Amendment to Shareholder Proposal Rule
To our clients and friends: The SEC recently adopted changes to its shareholder proposal rule. Our Alert regarding the changes is available here.