Luse Gorman is Legal Counsel to Northfield Bancorp, Inc. in Its Proposed Acquisition of VSB Bancorp, Inc.

December 26, 2019

On December 23, 2019, Northfield Bancorp, Inc., Woodbridge, New Jersey, the holding company for Northfield Bank, and VSB Bancorp, Inc., Staten Island, New York, the holding company for Victory State Bank, entered into a definitive merger agreement pursuant to which VSB Bancorp will merge with and into Northfield Bancorp, with Northfield Bancorp as the resulting company.


FDIC Proposes to Modernize its Brokered Deposit Rules

December 23, 2019

To our clients and friends:

On December 12, 2019, the Federal Deposit Insurance Corporation (the “FDIC”) issued a notice of proposed rulemaking (the “Proposed Rule”) to modernize certain aspects of the FDIC’s brokered deposit regulatory framework so that the classification of a brokered deposit appropriately reflects technological changes in the banking industry.


Luse Gorman is Legal Counsel to Melrose Bancorp, Inc. in Its Proposed Merger with Cambridge Financial Group, Inc.

December 18, 2019

On December 18, 2019, Melrose Bancorp, Inc., Melrose, Massachusetts, the holding company for Melrose Bank, and Cambridge Financial Group, Inc., Cambridge, Massachusetts, the mutual holding company for Cambridge Savings Bank, jointly announced that they have entered into a definitive merger agreement, pursuant to which Cambridge Financial Group will acquire Melrose Bancorp.