On July 31, 2025, Security Bank, s.b. completed its mutual-to-stock conversion and Security Midwest Bancorp, Inc., the new stock holding company of Security Bank, completed its related initial public offering by selling 889,781 shares of its common stock at $10.00 per share. Security Midwest Bancorp’s common stock is quoted on the OTCQB Market under the symbol “SBMW.”

Luse Gorman served as legal counsel to Security Midwest Bancorp and Security Bank in the transaction. The Luse Gorman team included Kip Weissman, Ned Quint and Thomas Hutton.

Security Bank has approximately $215 million in assets and operates from its main office and two branch offices in Springfield, Illinois.

Since 2000, Luse Gorman has been the leading law firm in the United States in mergers, 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.