Brief: Magyar Bancorp Says Its Holding Company Magyar Bancorp MHC Adopted A Plan Of Conversion And Reorganization

Magyar Bancorp

26/02/2021 16:12

Feb 26 (Reuters) - Magyar Bancorp Inc  MGYR.O :
    * MAGYAR BANCORP - MAGYAR BANCORP, MHC, CO'S HOLDING COMPANY
ADOPTED A PLAN OF CONVERSION AND REORGANIZATION
    * MAGYAR BANCORP - PURSUANT TO PLAN, MHC TO UNDERTAKE A
“SECOND-STEP” CONVERSION
    * MAGYAR BANCORP - PURSUANT TO PLAN, UNIT MAGYAR BANK TO
REORGANIZE FROM 2-TIER MUTUAL HOLDING CO STRUCTURE TO
FULLY-PUBLIC STOCK HOLDING CO STRUCTURE
    * MAGYAR BANCORP - FOLLOWING REORGANIZATION, MHC TO CEASE TO
EXIST, CO WILL CONTINUE TO BE STOCK HOLDING COMPANY OF MAGYAR
BANK

Source text: [ID: https://bit.ly/3ravEfq]
Further company coverage:  MGYR.O 

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