Luse Gorman Served as Legal Counsel to Lake City Federal Bank in its Merger into Forward Bank
On May 3, 2024, Lake City Federal Bank, Lake City, Minnesota, completed its merger into Forward Bank, Marshfield, Wisconsin.
Read More...Luse Gorman is Legal Counsel to Territorial Bancorp Inc. in its Proposed Merger with Hope Bancorp, Inc.
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.
Read More...Lawrence M.F. Spaccasi and Scott A. Brown presented at the Massachusetts Bankers Association 2024 Annual Convention
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.
Read More...Lawrence M.F. Spaccasi presented at the New Jersey Bankers Association 2024 Annual Convention
On May 2, 2024, Lawrence M.F. Spaccasi presented “The Future of Mutual Bank Ownership Structure” at the New Jersey Bankers Association 2024 Annual Convention in Naples, Florida. The session focused on certain current matters impacting banking institutions in the mutual form, including potential developments regarding capital instruments issuable by mutual banks and mutual holding companies and developments in the area of mutual to mutual mergers and mutual holding company mergers, including the shared services model.
Read More...FTC Bans Most Non-Compete Agreements – What Financial Institutions Need to Know
To our clients and friends:
On April 23, 2024, the Federal Trade Commission issued a final rule that bans most non-competition agreements.
Our Alert, which covers what financial institutions need to know about the final rule, is available here.