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.
Read More...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.
Read More...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.
Read More...Gary A. Lax presented “A Banker’s Guide to Banking the Cannabis Industry” as a one-day seminar offered by the Pennsylvania Association of Community Bankers on April 25, 2019, in Hershey, PA . 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.
Read More...The Securities and Exchange Commission recently adopted amendments that further modernize and simplify the disclosure requirements for filings submitted to the SEC. The attached newsletter provides a review of certain changes resulting from these amendments.
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