November 3, 2026
On November 1, 2026, GECU Federal Credit Union (“GECU”), El Paso, Texas, completed its purchase of substantially all the assets and assumption of substantially all the liabilities of Bank of the Southwest, Roswell, New Mexico, the wholly-owned subsidiary of New Mexico National Financial Incorporated. Following the completion of the transaction, GECU has approximately $4.9 billion in assets and serves nearly 450,000 members through 41 service locations in Texas and New Mexico.
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October 21, 2026
On October 19, 2026, Dime Commercial Bancshares, Inc., Hauppauge, New York, the parent company of Dime Commercial Bank, entered into a merger agreement pursuant to which it will acquire ES Bancshares, Inc., the parent company of Empire State Bank, Staten Island, New York, in a cash and stock transaction valued at approximately $58.0 million.
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October 14, 2026
On October 13, 2026, Michigan State University Federal Credit Union (“MSUFCU”), East Lansing, Michigan, announced that it had entered into a definitive agreement to merge with University Federal Credit Union, Austin, Texas. Together, the combined organization will serve more than 850,000 members with $13.5 billion in assets and over 2,200 team members.
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October 8, 2026
On October 1, 2026, Randolph-Brooks Federal Credit Union (“RBFCU”), Live Oak, Texas, completed its previously announced merger with True Sky Federal Credit Union, Oklahoma City, Oklahoma. Following the completion of the merger, RBFCU has almost $20 billion in assets and serves over 1.1 million members at more than 70 branch locations throughout Texas and Oklahoma.
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October 6, 2026
On October 5, 2026, Luse Gorman submitted a comment letter on the notice of proposed rulemaking entitled Regulatory Modernization and Relief for Mutual Holding Companies, which the Federal Reserve Board recently issued and was the subject of a prior Alert. The comment letter addresses mutual capital instruments, dividend waivers, stock benefit plans and other matters of interest to mutual holding companies and mutual institutions that are the subject of the proposal.
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