On July 16, 2019, Federal Savings Bank, Dover, New Hampshire, completed its reorganization from a mutual savings bank to the mutual holding company form of organization. In connection with the reorganization, the bank changed its name to “First Seacoast Bank.” Concurrently with the reorganization, First Seacoast Bancorp, the newly formed holding company for First Seacoast… Read more »
Posts By: tames
Luse Gorman is Legal Counsel to Ben Franklin Bank of Illinois in its Proposed Acquisition by Corporate America Family Credit Union
On July 16, 2019, Ben Franklin Bank of Illinois, Arlington Heights, Illinois, its parent company, Ben Franklin Financial, Inc., and Corporate America Family Credit Union (“CAFCU”), Elgin, Illinois, announced that CAFCU will acquire the assets and assume the liabilities of Ben Franklin Bank in an all cash transaction. Following the completion of the acquisition, Ben… Read more »
Luse Gorman Serves as Legal Counsel to Oritani Financial Corp. in its Proposed Merger with Valley National Bancorp
On June 26, 2019, Oritani Financial Corp., Township of Washington, New Jersey, the holding company for Oritani Bank, and Valley National Bancorp, Wayne, New Jersey, the holding company for Valley National Bank, announced the execution of a definitive merger agreement pursuant to which Oritani will merge with and into Valley, with Valley as the resulting… Read more »
SEC Proposes Changes to Its Definitions of Accelerated and Large Accelerated Filers
The Securities and Exchange Commission recently proposed amendments to its definitions of “accelerated filer” and “large accelerated filer.” The attached newsletter provides a review of the proposed changes and discusses how those changes would affect public companies’ periodic reporting with the SEC.
Jeff Cardone presented at the New York Credit Union Association Excel 19 Forum
Jeff Cardone presented at the New York Credit Union Association Excel 19 Forum on June 15, 2019. The presentation titled “Do You Want to Buy a Bank?” The presentation focused on how the acquisition of banks by credit unions has become more common. The presentation also analyzed the factors that drive credit union/bank transactions, including… Read more »