Nutter Represents Leader Bank, N.A. and Leader Bancorp, Inc. in Spin-Out of ZSuite TechnologiesPrint PDF
Nutter served as sole outside legal counsel to Leader Bank, N.A. and its parent company Leader Bancorp, Inc. in connection with the recent spin-out of ZSuite Technologies. The Nutter team was led by Michael Krebs. In addition, Thomas Curry and Jason Cabral provided regulatory support; Michael Mooney and Erin Whitney provided tax advice; and Joshua Gray, Portia Keady, and Blake Tyler provided support on corporate and securities law issues.
In 2015, Leader Bank, a now $1.5 billion community bank based in Arlington, MA, began focusing on the development of new financial technology products to differentiate itself and attract deposits without having to expand its branch footprint. Through its various innovations, which are now part of ZSuite Technologies, Leader Bank was able to grow by more than $100 million in core deposits and attract thousands of customers. As interest grew from other financial institutions, the Leader Bank management team decided that the division needed to be fully independent as a non-subsidiary entity in order to grow and support other banks and credit unions. As part of the launch, Leader Bank, along with eight other financial institutions, will join ZSuite Technologies as early partners. Please click for more information on the transaction.
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