On June 1, 2026, Community Bank, N.A. (“Community Bank”), a subsidiary of Community Financial System, Inc., completed its acquisition of ClearPoint Federal Bank & Trust in an all-cash transaction valued at $39 million, subject to a potential purchase price adjustment. Community Bank has over $17 billion in assets and operates approximately 200 customer facilities across… Read more »
Posts By: tames
Luse Gorman is Legal Counsel to Bogota Savings Bank in its Proposed Merger with GSL Savings Bank
On June 1, 2026, Bogota Savings Bank, Bogota Financial Corp. and Bogota Financial, MHC, each of Teaneck, New Jersey, entered into a merger agreement with GSL Savings Bank, Guttenberg, New Jersey, pursuant to which GSL Savings Bank will merge with and into Bogota Savings Bank. The merger is expected to increase Bogota Financial Corp.’s consolidated… Read more »
Legal Update – SEC Proposes New Rule to Revise Form S-3 Eligibility Criteria
To our clients and friends: On May 19, 2026, the SEC proposed a new rule and form amendments aimed at enhancing public companies’ ability to conduct registered offerings. The proposed amendments would enable more public companies to conduct shelf offerings through a Registration Statement on Form S-3, extend well-known seasoned issuer benefits to a broader… Read more »
Legal Update – SEC Proposes New Rule and Form Amendments to Enhance Emerging Growth Company Accommodations and Simplify Filer Status for Reporting Companies
To our clients and friends: On May 19, 2026, the Securities and Exchange Commission proposed a new rule and form amendments that would restructure and streamline filer status categories into two main categories: large accelerated filers and non-accelerated filers. The proposed new rule would also raise the threshold and seasoning requirements for large accelerated filer… Read more »
LEGAL UPDATE – FFIEC Proposes Revisions to CAMELS Ratings Framework
To our clients and friends: On May 19, 2026, the FFIEC issued a notice of proposed rulemaking to revise the Uniform Financial Institutions Rating System, commonly known as the CAMELS framework. The proposed changes are the first revisions to this framework since 1996, and will apply to the supervision standards and procedures used for national… Read more »