To our clients and friends: The Securities and Exchange Commission recently adopted a rule change mandating that Form 144 be filed electronically using EDGAR. Form 144 is required to be filed by directors, executive officers, large stakeholders, and other insiders for certain resale transactions of securities. The deadline to comply with the new electronic filing… Read more »
Posts By: tames
Newsletter – New 10b5-1 Plan Rules
To our clients and friends: The SEC recently approved amendments to Rule 10b5-1 regarding insider trading plans to revise the conditions that must be met for insiders to be able to use the 10b5-1 affirmative defense including, among other things, cooling-off periods, representations from plan participants and new periodic disclosure requirements for issuers and their… Read more »
Jeff Cardone presented at The Bonadio Group’s 2022 Financial Institutions Seminar
Jeff Cardone presented at The Bonadio Group’s 2022 Financial Institutions Seminar on December 6, 2022. The presentation titled “M&A Landscape and Key Considerations for Community Banks and Credit Unions” discussed the M&A environment and emerging trends for community banks and credit unions.
Luse Gorman is Legal Counsel to Land of Lincoln Credit Union in its Proposed Acquisition of Colchester State Bank
On December 21, 2022, Land of Lincoln Credit Union, Decatur, Illinois, entered into a purchase and assumption agreement to acquire substantially all of the assets and assume substantially all of the liabilities of Colchester State Bank, Colchester, Illinois. Land of Lincoln Credit Union has approximately $375 million in assets and currently has 13 branch offices… Read more »
Luse Gorman is Legal Counsel to Pentucket Bank in its Proposed Strategic Partnership with Newburyport Bank
On December 16, 2022, Pentucket Bank Holdings, MHC, Haverhill, Massachusetts, and Newburyport Five Cents Bancorp, MHC, Newburyport, Massachusetts, announced their agreement to form a strategic partnership through the merger of Pentucket Bank Holdings, MHC and Newburyport Five Cents Bancorp, MHC. Newburyport Bank and Pentucket Bank, the bank subsidiaries of Newburyport Five Cents Bancorp, MHC and… Read more »