William Penn Bancorporation extends subscription, community offering

William Penn Bancorporation extended the stock order deadline for its subscription and community offering until 5 p.m. ET on Feb. 22 primarily because of postal service delays, according to William Penn Bancorp Inc. (MHC), the parent company for William Penn Bank (MHC).

William Penn Bancorporation, the proposed new holding company for William Penn Bank, is raising additional capital in connection with the Bristol, Pa.-based bank's second-step conversion to a 100% publicly owned company from its current mutual holding company structure.

In the stock offering that began Jan. 25, William Penn Bancorporation is offering for sale between 9,350,000 and 12,650,000 common shares at $10 apiece.

Completion of the conversion and offering is subject to, among other things, the approval of the members of William Penn MHC and the stockholders of William Penn Bancorp Inc. and the receipt of final regulatory approvals.

Piper Sandler & Co. is assisting William Penn Bancorporation in selling its common stock in the offering on a best-efforts basis.