July 23, 2018

On July 17, 2018, Brentwood Bank (“Brentwood”), Bethel Park, Pennsylvania, and Union Building and Loan Savings Bank (“Union”), Bridgewater, Pennsylvania, entered into a definitive merger agreement pursuant to which Union will merge with and into Brentwood, with Brentwood as the resulting institution. The combined institution will have total assets of approximately $650 million.

Luse Gorman served as legal counsel to Brentwood in the transaction. The Luse Gorman team consisted of Kent Krudys, Larry Spaccasi and Megan McKinney (Corporate/M&A), and Max Seltzer (Executive Compensation).

Brentwood is a Pennsylvania-chartered stock savings bank and is the subsidiary of Mutual Holding Company of Western Pennsylvania, a federal non-stock corporation.

Union is a Pennsylvania-chartered mutual savings bank.