Mutual banks

Mutuals say latest stimulus effort highlights need for capital reform

03/22/21

The depositor-owned banks are discouraged from participating in the Emergency Capital Investment Program because they can't issue preferred stock to back loans for underserved communities. It's another reason to overhaul their capital rules, mutuals argue.

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New York mutual seeks commercial bank charter

11/30/20

Though it is unclear why Rhinebeck Bancorp is looking to form Rhinebeck Commercial Bank, other mutual banks have pursued the strategy to work around a state law barring them from working with municipalities.

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Spencer Savings in N.J. taps insider as next president

11/02/20

Jane Allerman-Rey, the mutual's chief operating officer, will take on the new role in January.

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Ohio mutual lines up deal for southern Virginia bank

09/11/20

First Mutual Holding has agreed to buy Martinsville First Savings Bank, which will retain its charter, brand and management team.

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Bogota Financial to acquire Gibraltar Bank

09/03/20

The New Jersey company will add three branches in the northern part of the state as part of the transaction.

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Ruling in N.J. proxy fight thwarts bank's commercial lending ambitions

09/01/20

A state judge deciding a dispute between Spencer Savings and an investor said the mutual must get an independent review before switching from a savings association to a savings bank. The ruling may complicate mutuals' efforts to make more business loans.

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Mutual holding company pioneer dies after long cancer battle

06/29/20

Eric Luse, who co-founded the Luse Gorman law firm, helped Community Bank Shares of Indiana create the first MHC in the early 1990s.

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