June 13, 2018
On June 11, 2018, Athens Bancshares Corporation (“Athens”), Athens, Tennessee, and CapStar Financial Holdings, Inc. (“CapStar”), Nashville, Tennessee, entered into a definitive merger agreement pursuant to which Athens will merge with and into CapStar, with CapStar as the resulting company, for total merger consideration valued at approximately $113.5 million at announcement. Athens shareholders will receive 2.864 shares of CapStar common stock per share of Athens common stock.
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June 12, 2018
On June 11, 2018, Northwest Bancshares, Inc. (“Northwest”), Warren, Pennsylvania, and Donegal Financial Services Corporation (“Donegal”), Marietta, Pennsylvania, the holding company of Union Community Bank, entered into a definitive merger agreement pursuant to which Donegal will merge with and into Northwest, with Northwest as the resulting company. Each outstanding share of Donegal common stock will be exchanged for 137.84 shares of Northwest common stock and $2,379.09 in cash, for total merger consideration of approximately $85.0 million.
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May 25, 2018
On May 22, 2018, United Bank, Hartford, Connecticut, and Webster Bank, N.A., Waterbury, Connecticut, entered into a purchase and assumption agreement pursuant to which United Bank will purchase from Webster Bank six banking branches located in Connecticut, Massachusetts and Rhode Island with total deposits approximating $120 million.
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May 23, 2018
On May 18, 2018, Hanmi Financial Corporation (“Hanmi”), Los Angeles, California, and SWNB Bancorp, Inc. (“SWNB”), Houston, Texas, entered into a definitive merger agreement pursuant to which SWNB will merge with and into Hanmi, with Hanmi as the resulting company.
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May 5, 2018
On May 5, 2018, Lawrence Spaccasi presented “Corporate Governance Hot Buttons in Today’s Regulatory Environment” at the Massachusetts Bankers Association Annual Convention in Naples, Florida. Luse Gorman has been a long-time presenter for the Massachusetts Bankers Association. Mr. Spaccasi led a discussion on current corporate governance issues, gold standard best practices, the increased regulatory focus on governance and recent regulatory enforcement actions involving financial institutions.
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