State of the Pipeline – as of Jan. 18, 2023

This feature has the latest news from the mutual bank conversion space. As of Jan. 18, three conversions were in the pipeline.

First Seacoast Bancorp Inc. priced its second-stage conversion at the minimum of the offering range. The new shares are expected to begin trading Jan. 20.

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

Mutual bank conversions slump to low point in 2022

10 advisers land spots on mutual bank conversion rankings in 2022

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

Community banks face regulatory, competitive pressures to alter overdraft policy

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.