On August 1, 2022, State Employees Federal Credit Union ("SEFCU"), Albany, New York, successfully completed its merger of equals with Capital Communications Federal Credit Union ("CAP COM"), Albany, New York. SEFCU was the continuing credit union in the transaction but changed its name to "Broadview Federal Credit Union" upon the completion of the merger.
Read More...On July 27, 2022, Everett Co-operative Bank, Everett, Massachusetts, completed its conversion from the mutual form of organization to the stock form of organization. Concurrently, ECB Bancorp, Inc., the newly formed holding company for Everett Co-operative Bank, completed its initial public offering by selling 8,915,247 shares of its common stock at $10.00 per share. ECB Bancorp’s common stock is listed on the Nasdaq Capital Market under the trading symbol “ECBK.”
Read More...On July 25, 2022, Somerset Savings Bank, SLA, Bound Brook, New Jersey, adopted a plan of conversion to convert from the mutual to stock form of organization. Somerset Savings also entered into a merger agreement to acquire Regal Bancorp, Inc. Under the terms of the merger agreement, Regal Bancorp shareholders may elect to receive 1.93 shares of SR Bancorp, Inc. (the newly formed holding company of Somerset Savings Bank) common stock (based on a $10.00 per share offering price) or $19.30 in cash for each share of Regal Bancorp common stock, subject to the allocation and proration procedures set forth in the merger agreement.
Read More...To our clients and friends:
The August 8, 2022 deadline for Nasdaq-listed companies to publicly disclose their board diversity statistics is fast approaching. Our refresher on Nasdaq’s requirements for the disclosure is available here.
Read More...On July 13, 2022, Van Wert Federal Savings Bank, Van Wert, Ohio, completed its conversion from the mutual form of organization to the stock form of organization. Concurrently, VWF Bancorp, Inc., the newly formed holding company for Van Wert Federal, completed its initial public offering by selling 1,922,924 shares of its common stock at $10.00 per share. VWF Bancorp’s common stock is listed on the OTCQB Market under the trading symbol “VWFB.”
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