Bank converts from a mutual holding structure to a stock holding organization
By Devika Patel
Knoxville, Tenn., Jan. 29 – MW Bancorp, Inc. said it settled an $8.76 million public sale of stock. Sterne, Agee & Leach, Inc. was the agent.
The company sold 876,163 common shares at $10.00 apiece. Of the shares, 70,093 were bought by Mount Washington Savings Bank’s employee stock ownership plan.
The company also said that it has completed Mount Washington Savings Bank’s conversion from a mutual holding structure to a stock holding form of organization.
The holding company for Mount Washington Savings Bank of Ohio is based in Cincinnati. It expects its shares to trade on the OTCBB exchange under the symbol “MWBC.”
| Issuer: | MW Bancorp, Inc.
|
| Issue: | Common stock
|
| Amount: | $8,761,630
|
| Shares: | 876,163
|
| Price: | $10.00
|
| Warrants: | No
|
| Agent: | Sterne, Agee & Leach, Inc.
|
| Investor: | Mount Washington Savings Bank’s employee stock ownership plan (for $700,930)
|
| Settlement date: | Jan. 29
|
| Stock symbol: | OTCBB: MWBC
|
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