September 2, 2026
On September 1, 2026, Land of Lincoln Credit Union (“LLCU”), Decatur, Illinois, completed its purchase of substantially all the assets and assumption of substantially all the liabilities of Williamsville State Bank & Trust, Williamsville, Illinois, the wholly-owned subsidiary of WSB Financial, Ltd. Following the completion of the transaction, LLCU has approximately $500 million in assets and 15 branch locations across Illinois.
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August 28, 2026
To our clients and friends:
Luse Gorman is pleased to announce that Abdul Mitha has joined the law firm as Partner and Midwest Leader. Based in Chicago, Mr. Mitha represents Luse Gorman’s first attorney residing in the Midwest, enhancing the firm’s ability to serve its long-standing client base throughout one of the nation’s most active banking markets. Our announcement can be found here.
To learn more about our firm and services, please visit our website.
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August 26, 2026
On August 25, 2026, Gulf Winds Credit Union, Pensacola, Florida, announced that it had entered into a definitive agreement to acquire Madison County Community Bank, Madison, Florida, the wholly-owned subsidiary of Madison Community Bancshares Corporation.
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August 11, 2026
To our clients and friends:
On July 31, 2026, the Federal Reserve Board issued a notice of proposed rulemaking that would make sweeping changes to its rule governing mutual holding companies (Regulation MM) and its capital rule (Regulation Q) to provide capital treatment for mutual capital certificates and special deposits issued by mutual institutions. It represents the most significant proposed revisions to these regulations in 15 years. Our Legal Update on this proposal can be found here.
Luse Gorman, PC regularly advises financial institutions on regulatory and compliance developments of, supervisory relationships with, enforcement actions from, and licensing applications to, the federal banking and credit union regulatory agencies. If you have any questions related to this Legal Update, please reach out to your usual firm contact.
To learn more about our firm and services, please visit our website.
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July 31, 2026
On July 30, 2026, Hanmi Financial Corporation, Los Angeles, California, the holding company for Hanmi Bank, completed a private placement of $55.0 million of 6.50% Fixed-to-Floating Rate Subordinated Notes due 2036.
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