Day Pitney LLP represented Independent Bank Corp. (Nasdaq: INDB), parent of Rockland Trust Company, in an agreement to acquire Island Bancorp, Inc., parent of Edgartown National Bank, for $24.5 million. Rockland Trust intends to operate all Edgartown National Bank branches when the transaction closes. The parties anticipate that the consummation of the transaction will occur in the second quarter of 2017.
The Day Pitney team was led by Michael Rave, Richard Leu and Kendall Wilson. Steve Ziobrowski, David Doyle and Andrew Wogman also assisted on the transaction.
Day Pitney has also advised Independent Bank Corp. on the acquisition of New England Bancorp, Inc., parent of Bank of Cape Cod, and Peoples Federal Bancshares, Inc., parent of Peoples Federal Savings Bank.
Day Pitney Attorneys Alfred Marks and Michael Lane co-authored an article, "Spokeo, Inc. v. Robins: An Underutilized Defense Against Claims Brought Under Federal Consumer Finance Statutes," for The Banking Law Journal.
Day Pitney Alert
Day Pitney Alert
On February 20, Michael Rave and Michael Dunne spoke at FinXTech R.O.D.E., a conference presented by Autobooks, Bank Director and Microsoft and held at the Advanced Technology Development Center in Atlanta, GA.
On January 27, Michael Rave will be speaking on "Public & Private Capital Raising: How To Fund Your Bank for Growth and/or Change" at Bank Director's annual conference, Acquire or Be Acquired, in Phoenix, AZ.
On December 7, Day Pitney, ICSGroup and CohnReznick co-sponsored "Launching a Private Fund: What You Need to Know."
Eliza Fromberg was quoted in an article, "FINRA's Capital Acquisition Broker Rules Face Tough Sell," in Law360.
Eliza Fromberg was quoted in an article, "Introduction of Regulation Crowdfunding" in Financier Worldwide Magazine.
Hartford, Conn, November 10, 2015 – Day Pitney is advising SBT Bancorp, Inc. (OTCQX: SBTB), the holding company for The Simsbury Bank & Trust Company, Inc. today in pricing a $8.4 million offering of 400,000 shares of its common stock at a public offering price of $21.00 per share.
On July 7, Michael Kaufman will participate as faculty on Strafford's 90-minute Q&A style webinar, "Contribution Agreements: Joint Liability and Rights of Contribution Under Loan Guaranties."