Texas Plan of Conversion from state stock savings bank to federal stock savings bank
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How to fill out Plan Of Conversion From State Stock Savings Bank To Federal Stock Savings Bank?
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FAQ
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 ...
Mutual savings banks also have several disadvantages including being too conservative at times, having no member control, and having the possibility of being acquired or going public.
In stock companies, profitability is allocated to shareholders in proportion to the total amount of stock held, and this is in contrast to an MSB, where profits are allocated to depositors based on how much business they conduct with the MSB (through deposits and loans).
No Direct Ownership Instead, mutual banks are owned by their depositors and do not have capital stock or stockholders. And while these banks are owned by their depositors, their depositors are neither stockholders nor members, and have no vote in how the bank operates.
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.
Today, it's quite common for both institutions to offer the same services. The primary difference is in how they're operated: MSBs are depositor-owned, while commercial banks are shareholder-owned.
Federal savings associations (also called "federal thrifts" or "federal Savings Banks"), in the United States, are institutions chartered by the Office of Thrift Supervision which is now administered by Office of the Comptroller of the Currency after the agencies merged.
Bank Conversion means conversion of the Bank to the New Bank.