April 13, 2022
On April 8, 2022, LINKBANCORP, Inc., Camp Hill, Pennsylvania, the holding company for The Gratz Bank, completed a private placement of $20.0 million of its 4.50% Fixed-to-Floating Rate Subordinated Notes due 2032.
Luse Gorman served as legal counsel to LINKBANCORP, Inc. in the offering. The Luse Gorman team consisted of Benjamin Azoff and Ellie Cook.
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.
April 7, 2022
On April 6, 2022, Investors Bancorp, Inc., Short Hills, New Jersey, completed its merger into Citizens Financial Group, Inc., Providence, Rhode Island. The stock and cash transaction was valued at approximately $3.4 billion and the consolidated assets of the combined company are valued at approximately $216.0 billion.
April 6, 2022
On April 1, 2022, Needham Bank, Needham, Massachusetts, completed its acquisition of cannabis banking and money service businesses from Eastern Bank, Boston, Massachusetts. As a part of the transaction, Needham Bank assumed approximately $300 million of deposits, and will sublet space in Eastern Bank’s Medford branch.
April 1, 2022
On March 31, 2022, Eagle Financial Services, Inc., Berryville, Virginia, the holding company for Bank of Clarke County, completed a private placement of $30.0 million of its 4.50% Fixed-to-Floating Rate Subordinated Notes due 2032.
March 29, 2022
On March 28, 2022, Hometown Financial Group, Inc. Easthampton, Massachusetts, entered into a definitive merger agreement to acquire Randolph Bancorp, Inc., Quincy, Massachusetts. Randolph Bancorp stockholders will receive $27.00 in cash per share of Randolph Bancorp common stock for total merger consideration of approximately $146.5 million.