MB Bancorp in Maryland Raises $21M from Stock Conversion

MB Bancorp in Forest Hill, Md., has completed its mutual-to-stock conversion.

The $141 million-asset company said in a press release last week that it raised over $21 million from the initial sale of its stock. The company sold shares at $10 each.

Keefe, Bruyette & Woods was the selling agent for the subscription offering. The firm also served as financial adviser for the bank conversion.

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