On November 1, 2026, GECU Federal Credit Union (“GECU”), El Paso, Texas, completed its purchase of substantially all the assets and assumption of substantially all the liabilities of Bank of the Southwest, Roswell, New Mexico, the wholly-owned subsidiary of New Mexico National Financial Incorporated. Following the completion of the transaction, GECU has approximately $4.9 billion… Read more »
Posts By: tames
Luse Gorman is Legal Counsel to Dime Commercial Bancshares, Inc. in its Proposed Acquisition of ES Bancshares, Inc.
On October 19, 2026, Dime Commercial Bancshares, Inc., Hauppauge, New York, the parent company of Dime Commercial Bank, entered into a merger agreement pursuant to which it will acquire ES Bancshares, Inc., the parent company of Empire State Bank, Staten Island, New York, in a cash and stock transaction valued at approximately $58.0 million. Luse… Read more »
Luse Gorman is Serving as Legal Counsel to Michigan State University Federal Credit Union in its Proposed Merger with University Federal Credit Union
On October 13, 2026, Michigan State University Federal Credit Union (“MSUFCU”), East Lansing, Michigan, announced that it had entered into a definitive agreement to merge with University Federal Credit Union, Austin, Texas. Together, the combined organization will serve more than 850,000 members with $13.5 billion in assets and over 2,200 team members. MSUFCU has approximately… Read more »
Luse Gorman Served as Legal Counsel to Randolph-Brooks Federal Credit Union in its Merger with True Sky Federal Credit Union
On October 1, 2026, Randolph-Brooks Federal Credit Union (“RBFCU”), Live Oak, Texas, completed its previously announced merger with True Sky Federal Credit Union, Oklahoma City, Oklahoma. Following the completion of the merger, RBFCU has almost $20 billion in assets and serves over 1.1 million members at more than 70 branch locations throughout Texas and Oklahoma…. Read more »
Luse Gorman Submits Comment Letter on FRB Mutual Holding Company Rulemaking Proposal
On October 5, 2026, Luse Gorman submitted a comment letter on the notice of proposed rulemaking entitled Regulatory Modernization and Relief for Mutual Holding Companies, which the Federal Reserve Board recently issued and was the subject of a prior Alert. The comment letter addresses mutual capital instruments, dividend waivers, stock benefit plans and other matters… Read more »