Alert – Nasdaq Adopts Diversity Rules

August 17, 2021

To our clients and friends:

Nasdaq's proposal to adopt new listing rules related to board diversity requirements and disclosure has been approved by the SEC.

Our Alert regarding the new rules is available here.


Luse Gorman is Legal Counsel to BayVanguard Bank in its Proposed Merger with North Arundel Savings Bank

August 6, 2021

On August 5, 2021, BayVanguard Bank, Edgemere, Maryland, entered into a merger agreement with North Arundel Savings Bank, Pasadena, Maryland, pursuant to which North Arundel will merge with and into BayVanguard Bank. As part of the merger transaction, BV Financial, Inc., the mid-tier holding company of BayVanguard Bank, will issue additional shares of its common stock to Bay-Vanguard, M.H.C., BayVanguard Bank’s mutual holding company parent, in an amount equal to the fair value of North Arundel as determined by an independent appraisal.