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. As of December 31, 2025, North Easton Savings Bank had $1.8 billion in assets and 14 branches throughout Southeastern Massachusetts. Luse Gorman served… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Ballston Spa Bancorp, Inc. in its $26.0 Million Subordinated Debt Issuance
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. As of December 31, 2025, the Company had $928.5 million in total assets and 13 locations throughout New… Read more »
Luse Gorman Served as Legal Counsel to URSB Bancorp, Inc. in its $23.1 Million Conversion Stock Offering
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… Read more »
Luse Gorman Served as Legal Counsel to Peapack-Gladstone Financial Corporation in its $30.0 Million Private Placement of Preferred Stock
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… Read more »
Alert – Volume 27 of The Bankers’ Bulletin
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… Read more »