Conditions are ripe for a comeback in mutual conversions, though it remains unclear how many thrifts will take the plunge.

Only 13 mutual thrifts pursued conversions last year, the lowest annual total since 2009, according to SNL Financial. The totals include full conversions to stock-owned companies, partial conversions, and the creation of mutual holding companies. In comparison, 20 thrifts converted in 2011.

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