919.882.7122
srigot@wyrick.com
Bio
Stu represents public and private companies in the areas of mergers & acquisitions, securities law, banking regulation, capital formation, and commercial contracts. He regularly represents financial institutions and their holding companies in mergers and other strategic combinations, both as buyers and sellers. Additionally, in his transactional practice, Stu has significant experience advising banks on branch acquisitions and divestures, bank regulatory applications, private placements of securities, recapitalization transactions, and a wide range of general corporate governance matters. He frequently provides strategic regulatory advice to community banks as they grow and expand their business, both organically and through acquisition. Stu serves as co-leader of the firm’s Banking & Financial Institutions practice group.
Stu is a Phi Beta Kappa graduate of the University of North Carolina at Chapel Hill where he received his B.A., with highest distinction, and his J.D., with honors. During law school, he served as Articles and Notes Editor for the North Carolina Banking Institute Journal and was a scholarship recipient from UNC School of Law’s Center for Banking and Finance.
Prior to joining the firm, he practiced with Gaeta & Eveson, P.A. in Raleigh and in the Charlotte office of Bryan Cave LLP. Before entering the legal profession, Stu worked for two large public corporations in the consumer packaged goods industry.
- North Carolina State Bar
- North Carolina Bar Association
- North Carolina Bankers Association, Affiliate Member
- South Carolina Bankers Association, Affiliate Member
- Represented Nasdaq-listed bank holding company in its $119.5 million sale to $4.0 billion asset, SEC-registered bank holding company.
- Represented Nasdaq-listed bank holding company in its acquisition of a South Carolina-chartered bank and its holding company in a stock/cash merger.
- Advised North Carolina-chartered bank in its $79.0 million merger with a $7.4 billion national bank headquartered in Ohio.
- Represented Nasdaq-listed bank holding company in its $40.6 million stock/cash acquisition by merger of a Charlotte-based bank holding company and its subsidiary bank.
- Represented local investor group in formation of bank holding company and concurrent equity raise to purchase control of troubled bank.
- Served as issuer’s counsel for bank holding company in $32.0 million subordinated note offering.
- Advised multi-bank holding company in connection with a recapitalization of its subsidiary bank by institutional and local investors and concurrent secondary sales of $28.0 million of bank stock by the holding company.
- Represented Nasdaq-listed bank holding company in its $63.3 million follow-on public offering.
- Assisted North Carolina-chartered bank with the purchase and assumption of a portfolio of nine branches from Bank of America.
- Represented bank holding company in $17.5 million acquisition financing led by anchor investor purchasing voting and non-voting equity structured to comply with Federal Reserve’s non-control thresholds. Proceeds used to acquire additional subsidiary bank via a merger with an interim subsidiary bank.
- SEC Adopts Final Cybersecurity Rules
- The Federal Reserve and FDIC’s Reports on the Silicon Valley Bank and Signature Bank Failures – Lessons to be Learned
- SEC’s Pending Proposed Rules on Cybersecurity Incident and Risk Management Disclosure
- Improving the SEC Disclosure Framework through Page Limits
- SEC Passes Final Rule to Harmonize and Improve its Exempt Offering Framework
- SBA Procedural Notice on PPP Loans and Changes of Ownership
- The Growing Seeds of the Interaction of the Regulated Banking System and Hemp-related Businesses
- SBA and Treasury Announce New EZ and Revised Forgiveness Applications
- Impact of SEC’s Proposed Rule on Verifying Accredited Investor Status under Rule 506(c)
- Paycheck Protection Program – U.S. Treasury and SBA Rules and FAQ Guidance Continue to Evolve
- Federal Reserve announces Paycheck Protection Program Lending Facility
- Debt Guarantee Authority under the CARES Act
- Small Business Lending under the CARES Act
- SEC Proposes Update to Guide 3
- Fairness Opinions in M&A Transactions
- Client Alert: SEC Proposes Amendments to Smaller Reporting Company Definition
- Client Alert: FDIC Rescinds 7-Year De Novo Bank Business Plan Requirements
- Client Alert: Fourth Circuit Issues Decision on Fiduciary Duties of Directors and Officers Under N.C. Law
- Client Alert: Transaction Timelines and the Regulatory “Sweet Spot”
- Client Alert: Implementation of New Framework for Evaluation of Internal Control over Financial Reporting
- Client Alert: Third-Party Vendor Diligence – A Critical Element of the Risk Management Process for Community Banks
- Client Alert: FINRA Issues Regulatory Notice on Private Placement Filing Requirements
- Client Alert: Federal Banking Agencies Final Rule on Capital (Basel III)
