Friday, March 24, 2006

Mutual conversions

When a credit union converts to a mutual bank, and then to a public bank, shares are issued. Of course, the SEC gets to have their say, which probably isn't a completely bad thing. Legacy bank corp carried through with plans to go public, and seems to be pleased. Their 10-Q might contain interesting info, although I don't see the thing that interests me the most: exact subscription offering / IPO rules.


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