EAU CLAIRE, Wis. -- First Federal Bank of Eau Claire received approval from the Office of Thrift Supervision to convert to a federal stock savings bank from a federal mutual savings bank, subject to approval by the bank's members.

Under the conversion plan, First Federal Bancshares of' Eau Claire -- a newly formed holding company -- will offer 4.7 million to 7.3 million shares of common at $10 per share.

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