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Article: Monadnock Community Bank Announces Plan to Reorganize into a Mutual Holding Company and Conduct Minority Stock Offering.
- Article from:
- PR Newswire
- Article date:
- March 12, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PETERBOROUGH, N.H., March 12 /PRNewswire/ -- Monadnock Community Bank announced that its Board of Directors has approved a plan to convert the Bank from a mutual savings bank to a capital stock savings bank, with a concurrent formation of a publicly-owned stock holding company and mutual holding company. The mutual holding company will own a majority of the stock holding company's outstanding shares of common stock with a minority of the outstanding shares to be held by the public. Subscription rights to purchase shares in the to-be-formed stock holding company will be offered on a first priority basis to the Bank's eligible account holders as of December 31, 2002, an ...