On October 23, 2024, Monroe Federal Savings and Loan Association, Tipp City, Ohio, completed its conversion from the mutual to stock form of organization. Concurrently with the conversion, Monroe Federal Bancorp, Inc. (“Monroe Federal Bancorp”), the newly formed holding company for Monroe Federal, completed its initial public offering by selling 526,438 shares of its common stock at $10.00 per share.  Monroe Federal Bancorp’s common stock is quoted the OTCQB Market under the symbol “MFBI”.

Luse Gorman served as legal counsel to Monroe Federal and Monroe Federal Bancorp in the conversion and stock offering. The Luse Gorman team included Kip Weissman, Victor Cangelosi and Max Seltzer.

Monroe Federal has approximately $147.5 million in assets and operates from its offices in Tipp City, Dayton and Vandalia in Ohio.

Since 2000, Luse Gorman has been the leading law firm in the United States in mutual holding company transactions and mutual-to-stock conversions, based on number of transactions. Click here to learn more about our capital markets and corporate finance services.