September 16, 2021
On September 15, 2021, Lakeland Bancorp, Inc., Oak Ridge, New Jersey, the holding company for Lakeland Bank, completed a public offering of $150.0 million of its 2.875% Fixed-to-Floating Rate Subordinated Notes due 2031.
Luse Gorman served as legal counsel to Lakeland Bancorp, Inc. in the offering. The Luse Gorman team consisted of John Gorman, Greg Sobczak, Victor Cangelosi, Scott Brown and Marc Levy.
Luse Gorman has extensive experience representing issuers in public offerings and private placements of capital stock, debt, and other securities. To learn more about our Capital Markets and Corporate Finance practice, please visit our website.
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August 26, 2021
On August 24, 2021, Berkshire Hills Bancorp, Inc. entered into an agreement to sell its insurance subsidiary, Berkshire Insurance Group, Inc., to Brown & Brown of Massachusetts, LLC.
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August 23, 2021
On August 19, 2021, Tempo Bank, Trenton, Illinois, its parent company, Sugar Creek Financial Corp., and Scott Credit Union, Edwardsville, Illinois, announced that they have entered into an agreement pursuant to which Scott Credit Union will acquire the assets and assume the liabilities of Tempo Bank in an all-cash transaction.
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August 10, 2021
On August 9, 2021, Orange County Bancorp, Inc., parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc., closed its initial public offering of common stock.
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August 6, 2021
On August 5, 2021, BayVanguard Bank, Edgemere, Maryland, entered into a merger agreement with North Arundel Savings Bank, Pasadena, Maryland, pursuant to which North Arundel will merge with and into BayVanguard Bank. As part of the merger transaction, BV Financial, Inc., the mid-tier holding company of BayVanguard Bank, will issue additional shares of its common stock to Bay-Vanguard, M.H.C., BayVanguard Bank’s mutual holding company parent, in an amount equal to the fair value of North Arundel as determined by an independent appraisal.
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