State of the Pipeline – as of Jan. 12, 2022

This feature has the latest news from the mutual bank conversion space. As of Jan. 12, four conversions were in the pipeline.

Bronx, N.Y.-based Ponce Financial Group Inc. expects to price its second-stage conversion between the maximum and supermax of the offering range.

Waukegan, Ill.-based NSTS Bancorp Inc.'s standard conversion offering closed Dec. 14, 2021, while Quincy, Mass.-based CFSB Bancorp Inc.'s mutual holding company conversion offering closed Dec. 15, 2021.

Concord, N.H.-based Walden Mutual Bank has filed a de novo application to establish a mutual bank. The bank expects to raise between $20 million and $30 million to commence operations.

On June 1, 2021, Elberton, Ga.-based Elberton Federal Savings & Loan Association announced a merger conversion with Watkinsville, Ga.-based Oconee Financial Corp.

Click here to download a template showing the conversion pipeline, the market performance of recent conversions, the valuations of mutual holding companies and a list of conversion candidates.

Other conversion features

2021 mutual bank conversion year in review

Mutual bank conversion adviser rankings in 2021

Mutual conversions on the rise due to open markets, competitive pressures

Other news stories about mutuals, mutual holding companies, recent conversions and activist investors

Gouverneur Bancorp to acquire Citizens Bank of Cape Vincent for $8.4M

Number of US banks announcing buyback plans ticks up in December 2021

Some crypto-friendly US bank stocks generated outsized total returns in 2021

We encourage reader participation and feedback to ensure these tables remain as timely and comprehensive as possible. Please forward any suggestions to ConversionNews@snl.com.