On November 21, 2025, OneAZ Credit Union (“OneAZ”), Phoenix, Arizona, completed its purchase of substantially all assets and the assumption of substantially all liabilities of 1st Bank Yuma, Yuma, Arizona, the wholly-owned subsidiary of Western Arizona Bancorp, Inc. Following the completion of the transaction, OneAZ has approximately $4.2 billion in assets and 26 banking locations… Read more »
Posts By: tames
Luse Gorman is Legal Counsel to Blue Foundry Bancorp in its Proposed Merger with Fulton Financial Corporation
On November 24, 2025, Blue Foundry Bancorp, Rutherford, New Jersey, and Fulton Financial Corporation, Lancaster, Pennsylvania, announced the execution of a merger agreement pursuant to which Blue Foundry will merge with and into Fulton Financial in an all-stock transaction valued at approximately $243 million. Blue Foundry is the holding company for Blue Foundry Bank and… Read more »
Legal Update – SEC Curtails Ruling on Shareholder Proposal Exclusions
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 »
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 »