On October 31, 2024, Empeople Credit Union, Moline, Illinois, completed its acquisition of TSB Bank, Lomira, Wisconsin. Following the completion of the acquisition, Empeople Credit Union has approximately $2.2 billion in assets. Luse Gorman served as legal counsel to Empeople in the transaction. The Luse Gorman team consisted of Jeff Cardone, Michael Brown, Ned Quint,… Read more »
Posts By: tames
Alert – Vol. 11 of The Bankers’ Bulletin
To our clients and friends: Today we published Volume 11 of The Bankers’ Bulletin. You can find a copy of this edition here. In this volume, we cover the CFPB’s open banking rule, the OCC’s supervision plan for 2025, AI guidance from NYSDFS, extension of the comment period for the FDIC’s brokered deposit rule, a… Read more »
Luse Gorman Served as Legal Counsel to Monroe Federal Savings and Loan Association in its Conversion and Related $5.3 Million Stock Offering
On October 23, 2024, Monroe Federal Savings and Loan Association, Tipp City, Ohio, completed its conversion from the mutual to stock form of organization. Concurrently with the conversion, Monroe Federal Bancorp, Inc. (“Monroe Federal Bancorp”), the newly formed holding company for Monroe Federal, completed its initial public offering by selling 526,438 shares of its common… Read more »
Luse Gorman Served as Legal Counsel to Fidelity Bank in its Conversion and Related $198.4 Million Stock Offering
On October 22, 2024, Fidelity Bank, New Orleans, Louisiana, completed its conversion from the mutual to stock form of organization. Concurrently with the conversion, FB Bancorp, Inc. (“FB Bancorp”), the newly formed holding company for Fidelity Bank, completed its initial public offering by selling 19,837,500 shares of its common stock at $10.00 per share. FB… Read more »
Luse Gorman Served as Legal Counsel to Arlo Financial Holdings, Inc. in its Acquisition of Systematic Savings Bank
On October 1, 2024, Arlo Financial Holdings, Inc., a newly formed Missouri corporation, completed its merger with Systematic Savings Bank, thereby becoming its registered bank holding company and changing the name of the bank to Arlo Bank. The Luse Gorman team consisted of Steven Lanter, Ben Azoff and Brendan Saxon. Luse Gorman has acted as counsel… Read more »