June 4, 2019
Gary A. Lax presented as “Banking the Cannabis Industry” at the Maryland Bankers Association Annual Convention on June 4, 2019, in Amelia Island, FL. The presentation discussed marijuana-related businesses and Industrial Hemp, the status of federal and state laws, and the elements of a risk assessment and compliance program to on-board customers and provide financial products and services to these customers.
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May 30, 2019
Jeff Cardone presented at the Wisconsin Bankers 2019 Directors Summit on May 29 and May 30, 2019. The presentation titled “Corporate Governance Hot Buttons in Today’s Regulatory Environment.” The presentation focused on evolving trends in corporate governance, including topics related to regulatory reform, how M&A and capital alternatives fit into the Board’s strategic plan, incentive compensation, cybersecurity and vendor management.
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May 17, 2019
On May 9, 2019, Pathfinder Bancorp, Inc. (“Pathfinder”), Oswego, New York, the holding company for Pathfinder Bank, completed a private placement of $20.8 million of shares of common stock, a warrant to purchase shares of common stock, and shares of convertible perpetual preferred stock.
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May 6, 2019
Mr. Spaccasi was a panelist for a presentation entitled “Lesser Known Issues in M&A Due Diligence and Transactions.” The presentation addressed on M&A due diligence considerations, including liability and insurance considerations, compensation and benefit traps, bank owned life insurance transfers and recent credit union acquisition of banks.
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April 30, 2019
On April 25, 2019, New Bancorp, Inc., New Buffalo, Michigan, the holding company for New Buffalo Savings Bank, and Teachers Credit Union (“TCU”), announced the execution of a purchase and assumption agreement pursuant to which TCU will acquire the assets and assume the liabilities of New Bancorp and New Buffalo in an all cash transaction.
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