MFB Bancorp Sets $10 Price on $9 Million Conversion IPO
As seen on the 24/7 Wall St. homepage on October 23, 2026.
Amendment fixes $10 price on $9 million conversion offering
MFB Bancorp locked its mutual-to-stock conversion at a fixed $10 a share, selling 1,035,000 shares for roughly $9 million with Performance Trust running the deal. Depositor subscription rights decide who gets allocated here, and the amended terms mean the window is closing. It lists on OTCQB, so liquidity will be thin.
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MFB Bancorp is converting from a mutual savings institution to a publicly traded stock company, a process that puts existing depositors in a privileged position before anyone else can buy in. The amendment filed with the SEC fixes the offering price at $10 per share, with no range, signaling the deal is in its final stretch.
The conversion will place 1,035,000 shares into the market for roughly $9 million in total proceeds, with Performance Trust Capital Partners running the offering. The listing lands on the OTCQB marketplace, which reflects the small size of the deal.
Depositor subscription rights govern who receives an allocation first, so current account holders at the bank have the first claim on shares before the offering opens more broadly. That standard conversion structure leaves little available for outside investors by the time the window closes.
Because OTCQB-listed stocks trade over the counter with a smaller pool of market participants, liquidity after the listing will be meaningfully thinner than on a national exchange. Investors should expect wider bid-ask spreads and lower daily trading volume than they would find with a comparable deal on Nasdaq or NYSE American.
Mentioned: MFDB