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Delanco Bancorp (DLNO) in Delanco, N.J., will convert from a mutual thrift to a fully public company.
August 19 -
Delanco Federal Savings Bank in New Jersey must fix asset-quality, risk management and other problems under a written agreement with the Office of the Comptroller of the Currency.
December 24
Delanco Bancorp in New Jersey has completed its conversion to a fully public company.
The $130 million-asset company said Wednesday that it raised about $4.2 million in a stock offering tied to its second-step conversion. Holders of the stock of the former thrift will have their shares converted to the shares in the new holding company, Delanco said.
Keefe, Bruyette & Woods managed the offering; Kilpatrick, Townsend & Stockton served as Delancos legal counsel.
Delanco has two branches in Burlington County, N.J.
