WASHINGTON - Congressional concern about thrifts' mutual-to-stock conversions was heightened last week by a Milwaukee deal that gave thrift managers $56 million in stock and options.

Security Bank, a state-chartered savings bank with $2.23 billion in assets and 13.66% capital, finished selling $270 million in stock for $25 a share last Friday. The initial offering was oversubscribed.

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.