Attached files
Exhibit 5
LUSE GORMAN, PC
ATTORNEYS AT LAW
5335 Wisconsin Avenue, NW, Suite 780
Washington, D.C. 20015
Telephone (202) 274-2000
Facsimile (202) 362-2902
www.luselaw.com
WRITERS DIRECT DIAL NUMBER
(202) 274-2000
September 9, 2021
Board of Directors
CFSB Bancorp, Inc.
15 Beach Street
Quincy, Massachusetts 02170
Re: CFSB Bancorp, Inc.
Common Stock, Par Value $0.01 Per Share
Members of the Board:
You have requested the opinion of this firm as to certain matters in connection with the offer and sale of the shares of common stock, par value $0.01 per share (Common Stock), of CFSB Bancorp, Inc. (the Company), as well as the registration of participation interests in the Common Stock (Participation Interests) to be purchased by the Colonial Federal Savings Bank 401(k) Plan. We have reviewed the Companys proposed Stock Holding Company Charter and its Registration Statement on Form S-1 (the Form S-1), the Plan of Reorganization from a Mutual Savings Bank to a Mutual Holding Company and Stock Issuance Plan (the Plan), as well as applicable statutes and regulations governing the Company, the offer and sale of the Common Stock and the registration of the Participation Interests. The opinion expressed below is limited to the banking laws of the United States.
We are of the opinion that upon the declaration of effectiveness of the Form S-1, the Common Stock, when issued and sold, and in the case of Colonial Federal Savings Bank Charitable Foundation, Inc., when contributed, in accordance with the Plan, will be legally issued, fully paid and non-assessable. We are also of the opinion that upon the declaration of effectiveness of the Form S-1, the Participation Interests will be validly offered in the manner described in the Form S-1 and will be binding obligations of the Company.
We hereby consent to our firm being referenced under the caption Legal Matters and to the filing of this opinion as an exhibit to the Form S-1. By giving such consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended.
Very truly yours,
/s/ LUSE GORMAN, PC
LUSE GORMAN, PC