On April 6, 2022, Investors Bancorp, Inc., Short Hills, New Jersey, completed its merger into Citizens Financial Group, Inc., Providence, Rhode Island. The stock and cash transaction was valued at approximately $3.4 billion and the consolidated assets of the combined company are valued at approximately $216.0 billion. Luse Gorman served as legal counsel to Investors… Read more »

On April 1, 2022, Needham Bank, Needham, Massachusetts, completed its acquisition of cannabis banking and money service businesses from Eastern Bank, Boston, Massachusetts.  As a part of the transaction, Needham Bank assumed approximately $300 million of deposits, and will sublet space in Eastern Bank’s Medford branch. Needham Bank, the wholly owned subsidiary of NB Financial, Inc. and… Read more »

On March 31, 2022, Eagle Financial Services, Inc., Berryville, Virginia, the holding company for Bank of Clarke County, completed a private placement of $30.0 million of its 4.50% Fixed-to-Floating Rate Subordinated Notes due 2032. Luse Gorman served as legal counsel to Eagle Financial Services, Inc. in the offering. The Luse Gorman team consisted of Scott… Read more »

On March 28, 2022, Hometown Financial Group, Inc. Easthampton, Massachusetts, entered into a definitive merger agreement to acquire Randolph Bancorp, Inc., Quincy, Massachusetts. Randolph Bancorp stockholders will receive $27.00 in cash per share of Randolph Bancorp common stock for total merger consideration of approximately $146.5 million.  As a part of the transaction, Envision Bank, the… Read more »

On March 22, 2022, Quarry City Savings and Loan Association, Warrensburg, Missouri, entered into a definitive agreement to be acquired by Community Bancorp, Inc., Chanute, Kansas, and its wholly owned subsidiary, Community National Bank & Trust. Quarry City will merge with and into Community National in an all-cash transaction valued at approximately $10.4 million. Quarry… Read more »