On August 6, 2019, Sevier County Bancshares, Inc. (“Sevier County”), Sevierville, Tennessee, the holding company of Sevier County Bank, announced the completion of its $13 million common stock offering, effective August 1, 2019.  The capital raise included shares issued via a securities purchase agreement with a private investor, as well as a rights offering to… Read more »

On August 1, 2019, West End Bank, S.B., Richmond, Indiana, and Three Rivers Federal Credit Union, Fort Wayne, Indiana, announced that Three Rivers will acquire the assets and assume the liabilities of West End Bank in an all-cash transaction.  Following the completion of the transaction, West End Bank will be liquidated and West End Indiana… Read more »

On July 17, 2019, Pioneer Bank, Albany, NY, completed its reorganization from a mutual savings bank to the mutual holding company form of organization. Concurrently with the reorganization, Pioneer Bancorp, Inc., the newly formed holding company for Pioneer Bank, completed its initial public offering.  Pioneer Bancorp, Inc. sold 11.2 million shares of its common stock… Read more »

On July 16, 2019, Federal Savings Bank, Dover, New Hampshire, completed its reorganization from a mutual savings bank to the mutual holding company form of organization. In connection with the reorganization, the bank changed its name to “First Seacoast Bank.” Concurrently with the reorganization, First Seacoast Bancorp, the newly formed holding company for First Seacoast… Read more »

On July 16, 2019, Ben Franklin Bank of Illinois, Arlington Heights, Illinois, its parent company, Ben Franklin Financial, Inc., and Corporate America Family Credit Union (“CAFCU”), Elgin, Illinois, announced that CAFCU will acquire the assets and assume the liabilities of Ben Franklin Bank in an all cash transaction. Following the completion of the acquisition, Ben… Read more »