Enclosed is a link to an article that Eric Luse of our firm wrote for the American Banker explaining why the Federal Reserve Board’s dividend waiver rule is unworkable and unfair to mutual holding companies and public stockholders. The rule, which was implemented after the enactment of the Dodd-Frank Act, effectively prohibits mutual holding companies… Read more »
Posts By: tames
Lawrence Spaccasi and John Gorman presented at the BFS Group Annual Banking Forum
On August 6, 2018, Lawrence Spaccasi and John Gorman presented “Current Hot Topics for Financial Institutions” at the Annual Banking Forum in Atlantic City, New Jersey. Luse Gorman has been a long-time presenter at the Annual Banking Forum. Messrs. Spaccasi and Gorman led a discussion on evolving trends in community banking, including topics related to… Read more »
Luse Gorman Serves as Legal Counsel to BCB Bancorp, Inc. in its Private Placement of $33.5 Million of Subordinated Notes
On July 30, 2018, BCB Bancorp, Inc. (“BCB”), Bayonne, New Jersey, the holding company for BCB Community Bank, completed a private placement of $33.5 million of its 5.625% Fixed-to-Floating Rate Subordinated Notes due 2028 (the “Notes”). The Notes are intended to qualify as Tier 2 capital for BCB for regulatory purposes. Luse Gorman served… Read more »
Treasury Issues Report on Nonbank Financials, Fintech and Innovation; OCC Announces Acceptance of Fintech Charter Applications
On July 31, 2018, the Treasury Department issued its report on financial technology (fintech) companies and the OCC announced that it will begin accepting national bank charter applications from fintech companies. For more information please see attached.
Luse Gorman Serves as Legal Counsel to AJS Bancorp, Inc. in its Proposed Merger with NorthWest Indiana Bancorp
On July 31, 2018, AJS Bancorp, Inc. (“AJSB”), Midlothian, Illinois, the holding company for A. J. Smith Federal Savings Bank, and NorthWest Indiana Bancorp (“NWIN”), Munster, Indiana, the holding company for Peoples Bank SB, announced a definitive merger agreement pursuant to which AJSB will merge with and into NWIN, with NWIN as the resulting company…. Read more »