MILLINGTON, N.J., June 30, 2015 (GLOBE NEWSWIRE) -- MSB Financial Corp., a federal corporation (the “Company”) (Nasdaq:MSBF), announced today that MSB Financial Corp., a Maryland corporation (“MSB Financial - Maryland”), has completed the subscription offering being conducted in connection with the proposed conversion of Millington Savings Bank (the “Bank”) from the mutual holding company to the stock holding company form of organization. Based on preliminary results, the subscription offering was over-subscribed in the first subscription priority by eligible depositors as of September 30, 2013. MSB Financial – Maryland received orders in excess of the adjusted maximum of the offering range and no further orders will be accepted. The number of shares to be sold in the offering will be based on the final appraisal. MSB Financial – Maryland is continuing to process orders and will provide allocation information as soon as available.
The completion of the conversion and offering remains subject to the approval of the depositors of the Bank and shareholders of the Company at their respective special meetings to be held on July 1, 2015, as well as customary regulatory approvals. Subject to receipt of those approvals, the Company anticipates closing the conversion and offering in early to mid-July 2015.
For questions relating to the offering, please contact the Stock Information Center at (844) 265-9680 from 10:00 a.m. until 4:00 p.m., Eastern Time, Monday through Friday. When available, allocations will be available online at https://allocations.kbw.com/.
The Company is the holding company of the Bank, a New Jersey chartered savings bank headquartered in Millington, New Jersey. The Bank operates five full-service banking offices in Morris and Somerset Counties, New Jersey. At March 31, 2015, the Company had consolidated total assets of $347.4 million, loans receivable, net of $239.3 million, total deposits of $265.8 million and total shareholders’ equity of $41.3 million.
This release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer is made only by the prospectus when accompanied by a stock order form. The shares of common stock of the Company are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency.
MSB Financial - Maryland has filed a proxy statement/prospectus concerning the conversion with the Securities and Exchange Commission. Shareholders of the Company are urged to read the proxy statement/prospectus because it contains important information. Investors are able to obtain all documents filed with the Securities and Exchange Commission by the Company and MSB Financial - Maryland, free of charge at the Securities and Exchange Commission’s website, www.sec.gov. In addition, documents filed with the Securities and Exchange Commission by the Company and MSB Financial – Maryland are available free of charge from the Corporate Secretary of MSB Financial Corp., at 1902 Long Hill Road, Millington, New Jersey 07946. The directors, executive officers and certain other members of management and employees of the Company, are participating in the solicitation of proxies in favor of the conversion from the shareholders of the Company. Information about the directors and executive officers of the Company is included in the proxy statement/prospectus filed with the Securities and Exchange Commission.
This press release contains certain forward-looking statements about the conversion and reorganization. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not related strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate” and “intend” or future or conditional verbs such as “will,” “would,” “could,” or “may.” Forward-looking statements by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion, difficulties in selling the conversion stock or in selling the conversion stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company is engaged.
Contact: Michael A. Shriner, President (908) 647-4000 firstname.lastname@example.org
Source:MSB Financial Corp.