On August 7, 2025, President Trump signed an Executive Order titled “Guaranteeing Fair Banking For All Americans” to combat perceived “politicized or unlawful debanking” practices by regulated financial institutions against persons or entities based on their political affiliations, religious beliefs, or business activities. Our Legal Update, available here, provides an overview of the Executive Order’s… Read more »
Posts By: tames
Alert – Volume 20 of The Bankers’ Bulletin
To our clients and friends: Today we published Volume 20 of The Bankers’ Bulletin, providing our insights into key banking industry developments from July 2025, including: The FDIC’s proposed increases to Part 363’s asset thresholds around independent audits; The OCC’s ending examination for disparate impact; The agencies’ joint statement on crypto-asset expectations; The House Financial… Read more »
Luse Gorman Served as Legal Counsel to Assabet Valley Bancorp in its Mutual-to-Stock Conversion and $191.8 Million Stock Offering
On July 31, 2025, Assabet Valley Bancorp, the mutual holding company of Avidia Bank, completed its mutual-to-stock conversion and Avidia Bancorp, Inc., the new stock holding company of Avidia Bank, completed its initial public offering by selling 19,176,250 shares of its common stock at $10.00 per share. As part of the transaction, Avidia Bancorp also… Read more »
Luse Gorman was Legal Counsel to Security Bank, s.b. in its Mutual-to-Stock Conversion and Related $8.9 Million Stock Offering
On July 31, 2025, Security Bank, s.b. completed its mutual-to-stock conversion and Security Midwest Bancorp, Inc., the new stock holding company of Security Bank, completed its related initial public offering by selling 889,781 shares of its common stock at $10.00 per share. Security Midwest Bancorp’s common stock is quoted on the OTCQB Market under the… Read more »
Luse Gorman is Legal Counsel to Cornerstone Bank in its Proposed Merger with Athol Savings Bank
On July 23, 2025, Cornerstone Bank, Spencer, Massachusetts, a subsidiary of PeoplesBancorp, MHC, Holyoke, Massachusetts, entered into a merger agreement pursuant to which Athol Savings Bank, Athol, Massachusetts, will merge into Cornerstone Bank, with Cornerstone Bank as the surviving entity. Luse Gorman served as legal counsel to Cornerstone Bank in the transaction. The Luse Gorman… Read more »