To Our Clients and Friends: On November 17, 2025, the Securities and Exchange Commission (the “SEC”) announced that it will no longer respond to most no-action requests from companies to exclude shareholder proposals (the “Statement”) to be included in proxy statements for the 2025-26 proxy season. The Statement enables companies to more easily exclude shareholder… Read more »
Posts By: tames
Luse Gorman is Serving as Legal Counsel to GECU Federal Credit Union in its Proposed Acquisition of Bank of the Southwest
On November 17, 2025, GECU Federal Credit Union (“GECU”), El Paso, Texas, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Bank of the Southwest, Roswell, New Mexico, the wholly-owned subsidiary of New Mexico National Financial Incorporated. GECU has total assets of… Read more »
Luse Gorman Served as Legal Counsel to Univest Financial Corporation in its $50 Million Subordinated Debt Issuance
On November 6, 2025, Univest Financial Corporation, Souderton, Pennsylvania, the holding company for Univest Bank and Trust Co., completed a private issuance of $50.0 million of 6.00% Fixed-to-Floating Rate Subordinated Notes due 2035, with registration rights. The Company entered into a registration rights agreement with each of the purchasers of the Notes under which it… Read more »
Luse Gorman Served as Legal Counsel to Community Bank, N.A. in its Acquisition of Seven Pennsylvania Branches from Santander Bank, N.A.
On November 7, 2025, Community Bank, N.A. (“Community Bank”), a wholly-owned subsidiary of Community Financial System, Inc., completed its acquisition of seven branches in the Allentown, Pennsylvania area from Santander Bank, N.A. (“Santander Bank”), as contemplated by the previously announced Purchase and Assumption Agreement, by and between Community Bank and Santander Bank, dated as of… Read more »
Alert – Volume 23 of The Bankers’ Bulletin
To our clients and friends: Today we published Volume 23 of The Bankers’ Bulletin, which provides our insights into key banking industry developments from October 2025, including: The OCC and FDIC’s proposal on MRAs and unsafe and unsound practices; FinCEN’s FAQs on SAR filing and documentation; FRB guidance on mutual bank organization capital instruments; NYDFS… Read more »