Mutual Federal Plans Conversion To Public Ownership
July 28, 2016 at 4:25 p.m.
Mutual Federal Savings Bank has announced its board of directors has approved a plan to convert Mutual Federal to a publicly owned holding company.
"The sale of the capital stock in our holding company will give our customers priority subscription rights to become stockholders and share in our future," said R. Donn Roberts, Mutual's president and chief executive officer. "In addition, the sale of stock will provide additional capital strength and support expanded customer services."
Roberts added the conversion from a mutual institution to a capital stock savings institution is another step in the bank's strategy to meet the financial challenges of its multiple markets. [[In-content Ad]]
Mutual Federal Savings Bank has announced its board of directors has approved a plan to convert Mutual Federal to a publicly owned holding company.
"The sale of the capital stock in our holding company will give our customers priority subscription rights to become stockholders and share in our future," said R. Donn Roberts, Mutual's president and chief executive officer. "In addition, the sale of stock will provide additional capital strength and support expanded customer services."
Roberts added the conversion from a mutual institution to a capital stock savings institution is another step in the bank's strategy to meet the financial challenges of its multiple markets. [[In-content Ad]]