On August 31, 2024, Michigan State University Federal Credit Union, East Lansing, Michigan (MSUFCU) completed its acquisitions of McHenry Savings Bank, McHenry, Illinois and Algonquin State Bank, Algonquin, Illinois. Following the completion of these acquisitions, MSUFCU has approximately $9.0 billion in assets. Luse Gorman served as legal counsel to MSUFCU for both transactions. The Luse… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Johnson County Bank in its Merger with Skyline Bankshares, Inc.
On September 1, 2024, Johnson County Bank, Mountain City, Tennessee, completed its merger with Skyline Bankshares, Inc., Floyd, Virginia, the holding company for Skyline National Bank. Luse Gorman served as legal counsel to Johnson County Bank in the transaction. The Luse Gorman team consisted of Larry Spaccasi, Zachary Davis and Tom Hutton. Luse Gorman has… Read more »
Alert – Federal Court Strikes Down FTC’s Ban on Non-Compete Agreements
To our clients and friends: On August 20, 2024, the U.S. District Court for the Northern District of Texas issued a ruling which set aside the Federal Trade Commission’s final rule that would have banned certain non-compete agreements between an employer and an employee. Our Alert regarding the court’s decision on non-compete agreements is available… Read more »
Luse Gorman is Legal Counsel to U.S. Eagle Federal Credit Union in its Proposed Acquisition of Southwest Capital Bank
On August 16, 2024, U.S. Eagle Federal Credit Union (“U.S. Eagle”), Albuquerque, New Mexico, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Southwest Capital Bank, Albuquerque, New Mexico, the wholly-owned subsidiary of Las Vegas Bancorporation, Inc. U.S. Eagle has approximately $1.5… Read more »
Alert – Volume 8 of The Bankers’ Bulletin
To our clients and friends: Today we published Volume 8 of The Bankers’ Bulletin. You can find a copy of this edition here. In this volume, we cover two recent decisions by the Supreme Court that will affect challenges to regulatory actions, the agencies’ joint statement on third-party deposit arrangements, the CFPB’s expanding use of… Read more »