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First Federal Bank of Wisconsin completes reorganization

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First Federal Bank of Wisconsin completes reorganization

Waukesha, Wis.-based First Federal Bank of Wisconsin completed its mutual holding company reorganization, effective Oct. 10.

In addition, parent company FFBW Inc. has closed the related offering, with its stock expected to start trading Oct. 11 on the Nasdaq Capital Market under the ticker symbol FFBW.

FFBW sold 2,950,625 common shares, or a 45% stake in the company, at $10.00 per share. The subscription offering had been oversubscribed by depositors with second-tier priority. The remaining 55% of outstanding stock is held by FFBW MHC.

FIG Partners LLC served as FFBW's and First Federal's financial adviser; Luse Gorman PC was legal counsel. Reinhart Boerner Van Deuren sc was FIG Partners' legal counsel.