Luse Gorman Serves as Legal Counsel to Pilgrim Bancshares, Inc. in its Proposed Merger with Hometown Financial Group, Inc.

July 25, 2018

On July 25, 2018, Pilgrim Bancshares, Inc. (“Pilgrim”), Cohasset, Massachusetts, and Hometown Financial Group, Inc. (“Hometown”), Easthampton, Massachusetts, entered into a definitive merger agreement pursuant to which Pilgrim will merge with and into Hometown, with Hometown as the resulting company, for total merger consideration valued at approximately $53.9 million.


SEC Finalizes Rule on Smaller Reporting Company Definition

July 18, 2018

The SEC recently finalized a rule, effective September 10, 2018, that expands the definition of “smaller reporting company” (“SRC”) to include registrants with (i) a public float of less than $250 million, or (ii) annual revenues of less than $100 million for the previous year and either no public float or a public float of less than $700 million.