FRANKFORT, Ky. - First Federal Savings Bank of Frankfort completed its conversion from a mutual to stock company.
As part of the conversion, Frankfort First Bancorp, the newly created holding company for First Federal Savings, sold 3,450,000 shares of common stock at $10 per share in a subscription and community offering.
The offering was managed by Capital Resources Inc., a Washington, D.C., investment banking firm specializing in thrift conversions. The stock conversion was legally consummated last Friday.
First Federal had assets of $110.1 million at Dec. 31.