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Mutual to stock conversions are highly complex corporate reorganizations where a company which is ?owned? by its depositors (if it is a financial institution such as a savings bank) or by its members or policyholders (if it is a mutual insurer) changes its form of organization to one where the mutual members' rights ...
Key Takeaways A conversion is the exchange of a convertible type of asset into another type of asset?usually at a predetermined price?on or before a predetermined date. The conversion feature is a financial derivative instrument that is valued separately from the underlying security.
The Demutualization Process In a demutualization, a mutual company elects to change its corporate structure to a public company, where prior members may receive a structured compensation or ownership conversion rights in the transition, in the form of shares in the company.
Mutual banks are owned by their borrowers and depositors. Ownership and profit sharing are what differentiate mutual banks from stock banks, which are owned and controlled by individual and institutional shareholders that profit from them.
Bank Conversion means conversion of the Bank to the New Bank.
A feature some funds offer that allows investors to automatically switch from one fund class to another, typically one with lower annual expenses, after a set period of time. The fund's prospectus or profile will state whether the fund has a conversion feature.
Merger/conversions (the purchase of a mutual savings bank by a stock bank, with the depositors of the mutual bank offered the opportunity to purchase stock of the acquiring bank or holding company) are closely reviewed by the FDIC to ensure that (i) the value of the converting institution is fairly determined, and (ii) ...