State of the Pipeline – as of Jan. 11, 2023

This feature has the latest news from the mutual bank conversion space. As of Jan. 11, three conversions were in the pipeline.

First Seacoast Bancorp Inc., the proposed successor to Dover, N.H.-based First Seacoast Bancorp, completed on Jan. 10 its syndicated community offering in relation to the proposed conversion of First Seacoast Bancorp MHC to the stock holding company structure.

Bound Brook, N.J.-based Somerset Savings Bank SLA on July 25, 2022, announced a mutual-to-stock conversion, with a simultaneous acquisition of Livingston, N.J.-based Regal Bancorp Inc. The eligible record date for the conversion offering is June 30, 2021.

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

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

10 advisers land spots on mutual bank conversion rankings in 2022

2021 mutual bank conversion year in review

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

Bancorp 34 completes $14M private placement

Dollar Bank eliminates insufficient funds, cuts overdraft-associated fees

Starting in February, State of the Pipeline will be published monthly instead of weekly.

We encourage reader participation and feedback. Please forward any suggestions to ConversionNews@snl.com.