Lawrence Seidman, Veteri Place Corp. and related investment vehicles decreased their beneficially owned stake in MSB Financial Corp. to 10.38%, from the 12.75% reported in May 2017.
The investor group sold 140,137 shares in aggregate to MSB Financial in order to "maintain compliance with the regulations of the Board of Governors of the Federal Reserve System," according to a filing. The group plans to continue to buy shares starting on or about July 17.
It was previously reported that the group is permitted to own up to 24.99% of MSB Financial's outstanding shares because of the approval in 2016 from the Federal Reserve Bank of New York board of the group's change-in-bank-control application.
