2007 has proven to be a strong year for mutual-to-stock conversions, with 23 conversions already completed. There are only 721 mutually-held institutions left in the country, and 15 are in the process of converting; so it's more important than ever to open accounts with these institutions before you miss out on a high-return investment. With 92 institutions newly accepting deposits from out of state residents, according to SNL's October survey results, opportunity abounds.
| 2007 Conversion Highlights | First Day Return | |
| Oritaini Financial Corp. | 59.7% | |
| Hampden Bancorp, Inc. | 28.2% | |
| MSB Financial Corp | 23.0% | |
| TFS Financial Corporation | 17.9% | |
| ESSA Bancorp, Inc. | 17.8% | |
| First Financial Northwest, inc | 17.3% | |
| Beacon Federal Bancorp | 16.0% |
SNL's Thrift Conversion Candidates List helps you choose mutual thrifts by showing you:
- The minimum amount required to open a CD or passbook savings account for each mutual institution as well as the highest CD rate available and its maturity.
- The 721 thrifts who are eligible to convert, including those mostly likely to covert within the next 12 to 24 months.
- Detailed account requirements for each mutual thrift, including the opening of accounts by mail or by out-of-state residents.
- Contact information and relevant financial data.
To order the list or find out more, contact SNL Sales at 434.951.7797.