FedFirst Financial Corp. in Monessen, Pa., is now a fully stock organization.
The $355.7 million-asset company announced Tuesday that it had completed its second-step conversion by selling 1.7 million shares of common stock at $10 a share.
The deal was hamstrung in July when the company was unable to entice enough buyers at the price first set by its appraisers. The company sought a second appraisal and lowered the number of shares it would sell.
The stock was priced at 52.8% of FedFirst Financial's tangible book value. When the conversion was first announced, the stock was priced at 57.7% of book value.
