On July 14, 2021, Cullman Bancorp, Inc., Cullman, Alabama, the holding company for Cullman Savings Bank, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering.
Read More...On July 15, 2021, Blue Foundry, MHC, Rutherford, New Jersey, completed its conversion from the mutual holding company to the stock holding company form of organization. Concurrently with the conversion, Blue Foundry Bancorp (the "Company"), the newly formed holding company for Blue Foundry Bank, completed its initial public offering selling 27,772,500 shares of its common stock at $10.00 per share. The Company also contributed 750,000 shares of common stock and $1.5 million in cash to Blue Foundry Charitable Foundation, Inc., a charitable foundation formed in connection with the conversion. The Company’s common stock trades on the Nasdaq Global Select Market under the trading symbol "BLFY."
Read More...On July 14, 2021, Mineola Community Mutual Holding Company, Mineola, Texas, completed its conversion from the mutual holding company to the stock holding company form of organization. Concurrently with the conversion, Texas Community Bancshares, Inc. (the "Company"), the newly formed holding company for Mineola Community Bank, S.S.B., completed its initial public offering. The Company sold 3,207,759 shares of its common stock in the offering at $10.00 per share. The Company also contributed 50,000 shares of common stock and $75,000 in cash to the TCBS Foundation, Inc., a charitable foundation formed in connection with the conversion. The Company’s common stock trades on the Nasdaq Capital Market under the trading symbol "TCBS."
Read More...On July 11, 2021, Lakeland Bancorp, Inc., Oak Ridge, New Jersey, and 1st Constitution Bancorp, Cranbury, New Jersey, entered into a definitive merger agreement pursuant to which 1st Constitution Bancorp will merge with and into Lakeland Bancorp, with Lakeland Bancorp as the resulting company in an all-stock transaction valued at approximately $244.4 million. As part of the merger, 1st Constitution Bank will merge with and into Lakeland Bank.
Read More...On July 8, 2021, New Hampshire Mutual Bancorp, Concord, New Hampshire, the holding company for Meredith Village Savings Bank, Merrimack County Savings Bank and Savings Bank of Walpole, completed a private placement of $20.0 million of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031. The notes are intended to qualify as Tier 2 capital for regulatory purposes.
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