May 10, 2024
To our clients and friends:
Today we published Volume 5 of The Bankers’ Bulletin. You can find a copy of this edition here.
This volume covers federal policymakers’ comments on bank merger policy reform, CFPB supervisory actions and federal litigation involving fee practices, the FTC’s final rule on non-compete agreements, FRB enforcement focus on change in control documentation, and other developments at the state level related to credit union-bank tie-ups and the use of AI.
If you have any questions related to any of the items covered in the Bulletin, please reach out to Brendan Clegg (bclegg@luselaw.com), Marc Levy (mlevy@luselaw.com), Agata Troy (atroy@luselaw.com), or your regular Firm contact. To learn more about our firm and services, please visit our website.
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May 9, 2024
On May 9, 2024, Lawrence M.F. Spaccasi participated in the Bank M&A Legal Panel at the D.A. Davidson 26th Annual Financial Institutions Conference in Colorado Springs, Colorado. The session focused on the current mergers and acquisitions landscape, including regulatory issues and concerns.
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May 7, 2024
On May 3, 2024, Lake City Federal Bank, Lake City, Minnesota, completed its merger into Forward Bank, Marshfield, Wisconsin.
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May 6, 2024
On April 29, 2024, Territorial Bancorp Inc., Honolulu, Hawaii, announced the signing of a merger agreement with Hope Bancorp, Inc., Los Angeles, California, pursuant to which Territorial Bancorp will merge with and into Hope Bancorp in an all-stock transaction valued at approximately $79 million.
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May 4, 2024
On May 4, 2024, Lawrence M.F. Spaccasi and Scott A. Brown presented “Hot Topics for Community Banks” at the Massachusetts Bankers Association 2024 Annual Convention in Key Biscayne, Florida. The session focused on certain current matters impacting community banks, including a summary of the litigation case analyzing the constitutionality of the CFPB, the current mergers and acquisitions landscape, the proposed FDIC corporate governance guidelines, the recent FTC non-competition rule and updates on mutual capital. The presentation included the practical impact on each specifically on community banks.
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