Prudential Bancorp (PBIP) in Philadelphia has completed its second-step conversion and $71.4 million public offering.

The $466 million-asset Prudential is now a fully public company, according to a press release Wednesday.

In a subscription offering related to the conversion, Prudential sold 7.1 million shares of common stock at $10 per share. It will also issue roughly 2.4 million shares of common stock in exchange for shares of common stock from its former midtier holding company.

Sandler O'Neill & Partners managed the stock offering. Elias, Matz, Tiernan & Herrick acted as legal counsel to the company.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.