trending Market Intelligence /marketintelligence/en/news-insights/trending/0fH0pMVGvZyu6uZfWFaMBg2 content esgSubNav
In This List

New York-based PCSB Bank plans conversion


Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Banks’ Response to Rising Rates & Liquidity Concerns

New York-based PCSB Bank plans conversion

Yorktown Heights, N.Y.-based PCSB Bank's board of trustees approved a plan to convert the bank to a New York-chartered stock savings bank — a public company — from a New York-chartered mutual savings bank.

The conversion is subject to approval from the New York State Department of Financial Services, the FDIC and the Federal Reserve Board, as well as from PCSB Bank's depositors.

In line with the proposed conversion, PCSB Bank will become a unit of PCSB Financial Corp., a newly formed bank holding company.

The bank plans to sell common shares to eligible depositors as of Sept. 30, 2015, in a subscription offering. Unsold shares may be offered in a community offering, a syndicated community offering and/or a firm commitment offering, according to a Dec. 8 press release.