The conversion to stock form is a weighty decision for mutual financial institutions, involving not only an initial public offering but also a transformation of the way a mutual bank is governed.

At Dentons, we understand that the decision to undertake a mutual to stock conversion is more than just a decision to undertake an IPO. We counsel mutual banks on the implications of a conversion transaction, including the advantages and disadvantages of raising capital in the public markets, the costs and legal obligations of a publicly-traded, SEC-reporting company, and the changes in corporate governance brought about by a stock exchange listing and the transition to the stock form of ownership.

We have successfully represented mutual banks, mutual holding companies and investment banks in mutual-to-stock conversion transactions, including the two largest in US history. Whether a full conversion or second-step conversion, we know how to navigate the approval process.

Once a conversion is complete, we continue to guide converted banks through the transition to a public company and help converted banks become acclimated to a new regulatory environment. We have assembled a diversified team to advise our clients on every aspect of life as a public company, including securities law and bank regulatory compliance, as well as advice and counsel on corporate governance and compensation and benefits matters.