Security Federal Savings Bank is ending its life as a mutual thrift by selling up to 667,000 shares of stock.

In an offering mailed to depositors this week, the $50 million-asset thrift is selling shares at $10 a piece. After deducting expenses and underwriting commissions, the thrift expects to raise between $4.5 million and $6.3 million. The minimum number of shares to be sold is 493,000.

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