March 28, 2023
To our clients and friends:
Recently, the NCUA finalized an amendment to its current rules on subordinated debt. The amendment makes two material changes to the current rule. First, there is no longer a maximum maturity for subordinated notes, provided certain requirements are satisfied. In addition, the regulatory capital treatment of grandfathered secondary capital was extended from 20 years to the later of 30 years from the date of issuance or January 1, 2052. Please see our Alert for more details.
Credit unions should strongly consider getting NCUA preapproval to issue subordinated debt for liquidity and capital planning purposes even if they have no immediate plans to issue subordinated debt. The current rules provide eligible credit unions with a two-year window to issue subordinated debt without any further approvals from the NCUA. Further information about subordinated debt can be found here: White Paper - NCUA Subordinated Debt Final Rule.
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March 14, 2023
To our clients and friends:
In light of the recent large bank failures, our Alert regarding items that credit unions should consider is available here.
To diversify sources of liquidity, eligible credit unions should consider getting NCUA preapproval to issue subordinated debt, which is discussed in our Alert.
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March 13, 2023
To our clients and friends:
In light of the recent large bank failures, our Alert regarding items that financial institutions should consider is available here.
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February 14, 2023
Luse Gorman, PC is pleased to announce that in 2022 we were the No. 1 legal advisor in the nation, based on number of transactions, for common stock and subordinated debt offerings by financial institutions, as reported by S&P Global Market Intelligence. We served as issuer's counsel in connection with a range of equity and debt offerings, including firm commitment and best-efforts public offerings, private placements, as well as IPO common equity offerings.
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February 13, 2023
Luse Gorman, PC is pleased to announce that we are again among the top legal advisors in the nation, based on number of transactions, for bank mergers and branch acquisitions as reported by S&P Global Market Intelligence. The firm served as counsel for 17 bank merger and branch acquisition transactions in 2022, covering a broad spectrum of deal types and structures, both on the buy and the sell side. Some of our accomplishments as merger and acquisition counsel include:
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