Luse Gorman is Legal Counsel to Lakeland Bancorp, Inc. in its Proposed Acquisition of 1st Constitution Bancorp

July 13, 2021

On July 11, 2021, Lakeland Bancorp, Inc., Oak Ridge, New Jersey, and 1st Constitution Bancorp, Cranbury, New Jersey, entered into a definitive merger agreement pursuant to which 1st Constitution Bancorp will merge with and into Lakeland Bancorp, with Lakeland Bancorp as the resulting company in an all-stock transaction valued at approximately $244.4 million. As part of the merger, 1st Constitution Bank will merge with and into Lakeland Bank.


Luse Gorman Served as Legal Counsel to New Hampshire Mutual Bancorp in its $20.0 Million Subordinated Debt Issuance

July 9, 2021

On July 8, 2021, New Hampshire Mutual Bancorp, Concord, New Hampshire, the holding company for Meredith Village Savings Bank, Merrimack County Savings Bank and Savings Bank of Walpole, completed a private placement of $20.0 million of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031. The notes are intended to qualify as Tier 2 capital for regulatory purposes.


Luse Gorman is Legal Counsel to Community Bank in its Proposed Sale of Branches to Citizens Bank of West Virginia, Inc.

June 14, 2021

On June 10, 2021, Community Bank, Carmichaels, Pennsylvania, entered into an agreement to sell two branch operations located in West Virginia to Citizens Bank of West Virginia, Inc., Elkins, West Virginia, subject to regulatory approvals and other customary closing conditions. As of May 31, 2021, the related deposits totaled approximately $102 million and will be acquired for a 5.00% deposit premium.