On September 25, 2025, Orange County Bancorp, Inc., Middletown, New York, the holding company for Orange Bank & Trust Company, completed a private offering of $25.0 million of 6.50% Fixed-to-Floating Rate Subordinated Notes due 2035
Read More...On September 25, 2025, First Savings Financial Group, Inc. (“First Savings”), the holding company for First Savings Bank, and First Merchants Corporation (“First Merchants”), the holding company for First Merchants Bank, announced the signing of a definitive agreement pursuant to which First Savings will merge with and into First Merchants and First Savings Bank will merge with and into First Merchants Bank. The all-stock transaction is valued at approximately $241.3 million.
Read More...On September 23, 2025, Ballston Spa Bancorp, Inc. (“Ballston Spa”), the holding company for Ballston Spa National Bank, and NBC Bancorp, Inc. (“NBC”), the holding company for The National Bank of Coxsackie, entered into an agreement for a merger of equals, with Ballston Spa and Ballston Spa National Bank as the surviving entities. The all-stock transaction is valued at approximately $26.0 million.
Read More...On September 8, 2025, the OCC announced actions, including issuing two Bulletins, to “end the weaponization of the financial system” by “rooting out” activities that “unlawfully debank or discriminate against customers on the basis of political or religious beliefs, or lawful business activities.” Our Legal Update, available here, describes the OCC’s plan to start reviewing banks’ debanking practices in licensing application reviews and CRA evaluations, and the agency’s instructions to banks regarding responding to government information requests and preparing SAR filings. Our Legal Update also offers a number of tips for OCC-supervised institutions prepare for further scrutiny from the agency regarding this issue.
Read More...On September 1, 2025, Harborstone Credit Union (“Harborstone”), Lakewood, Washington, completed its purchase of substantially all assets and assumption of substantially all liabilities of SaviBank, Mount Vernon, Washington, the wholly-owned subsidiary of Savi Financial Corporation, Inc. Following the completion of the transaction, Harborstone has approximately $2.7 billion in assets and 26 banking locations throughout Washington.
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