Key Developments For BCSB Bancorp, Inc.
BCSB Bancorp, Inc. (BCSB.O) (Consolidated Issue listed on NASDAQ Global Market)
BCSB Bankcorp, Inc. Announces Completion Of Second Step Conversion
BCSB Bankcorp, Inc.'s holding Company for Baltimore County Savings Bank announced that the second step conversion of Baltimore County Savings Bank, F.S.B. from the mutual holding company form of organization to the stock form of organization was completed as of the close of business immediately. As a result of the conversion and offering, BCSB Bancorp, Inc. became the holding company for Baltimore County Savings Bank, F.S.B., and Baltimore County Savings Bank, M.H.C. and BCSB Bankcorp, Inc. ceased to exist. Beginning on April 11, 2008, the shares of BCSB Bancorp will trade under the symbol BCSBD for a period of 20 trading days. Thereafter, BCSB Bancorp's trading symbol will revert to BCSB. A total of 1,976,538 shares of common stock, the minimum of the offering range, were sold in the subscription, community and syndicated community offerings at the price of $10.00 per share, including 122,197 shares purchased by the Baltimore County Savings Bank, F.S.B. Employee Stock Ownership Plan. As part of the conversion, existing shares of BCSB Bankcorp were converted into the right to receive 0.5264 shares of BCSB Bancorp common stock. Cash will be issued in lieu of fractional shares based on the offering price of $10.00. Sandler O'Neill + Partners, L.P. acted as sole book-running manager and Sterne, Agee & Leach, Inc. acted as co-manager of the syndicated community offering. Muldoon Murphy & Aguggia LLP of Washington, D.C. acted as legal counsel to BCSB Bankcorp.
BCSB Bankcorp, Inc. Announces Anticipated Closing Date For Second Step Conversion
BCSB Bankcorp, Inc.'s holding Company for Baltimore County Savings Bank announced that it anticipates closing its second step conversion transaction on April 10, 2008. A total of 1,976,538 shares of common stock, the minimum of the offering range, are expected to be sold in the subscription, community and syndicated community offerings at the price of $10 per share, including 122,197 shares to be purchased by the Company, F.S.B. Employee Stock Ownership Plan. As part of the conversion, existing shares of BCSB Bankcorp will be converted into the right to receive 0.5264 shares of BCSB Bancorp common stock based on the current 5,929,743 outstanding shares of BCSB Bankcorp. As a result of the conversion and offering, the Company, M.H.C. and BCSB Bankcorp will cease to exist, and BCSB Bancorp, Inc., the Maryland corporation formed to facilitate the conversion, will become the parent holding company of Baltimore County Saving Bank and will be wholly owned by public stockholders. The conversion and offering are expected to be completed at the close of business on April 10, 2008. The closing of the transaction is subject to the satisfaction of customary closing conditions. BCSB Bankcorp common stock will continue to trade on the Nasdaq Global Market under trading symbol BCSB through April 10, 2008. Beginning on April 11, 2008, the shares of BCSB Bancorp will trade under the symbol BCSBD for a period of 20 trading days. Thereafter, BCSB Bancorp's trading symbol will revert to BCSB.
BCSB Bankcorp, Inc. Issues Earnings Guidance For Three Months Ending September 2007
BCSB Bankcorp, Inc. announced that for the three months ending September 30, 2007, it expects to incur net after tax losses totaling between $300,000 and $350,000.
BCSB Bankcorp, Inc. Appoints New Chief Financial Officer
BCSB Bankcorp, Inc.'s holding Company for Baltimore County Savings Bank announced that the Board of Directors has appointed Anthony Cole, CPA, as Executive Vice President and Chief Financial Officer. Mr. Cole also was appointed Executive Vice President and Chief Financial Officer of Baltimore County Savings Bank, F.S.B. and Baltimore County Savings Bank, M.H.C. All appointments are effective September 4, 2007.
BCSB Bankcorp, Inc.'s Baltimore County Savings Bank To Conduct Second Step Conversion
BCSB Bankcorp, Inc. announced that the Boards of Directors of Baltimore County Savings Bank, M.H.C. (the MHC), BCSB Bankcorp, Inc. and Baltimore County Savings Bank, F.S.B. adopted a Plan of Conversion and Reorganization (the Plan), pursuant to which Baltimore County Savings Bank, F.S.B. will reorganize from the mutual holding company structure to the stock holding company structure. Pursuant to the terms of the Plan, the MHC will convert from the mutual form to a federal interim stock savings association and simultaneously merge with and into Baltimore County Savings Bank, with Baltimore County Savings Bank as survivor. Additionally, BCSB Bankcorp, Inc. will convert to a federal interim stock savings association and simultaneously merge with and into Baltimore County Savings Bank, with Baltimore County Savings Bank as survivor. Baltimore County Savings Bank will form a new Maryland corporation that will acquire all of the outstanding shares of Baltimore County Savings Bank's common stock. Shares of BCSB Bankcorp, Inc.'s common stock, other than those held by the MHC, will be converted into shares of the new Maryland corporation pursuant to an exchange ratio designed to approximate the percentage ownership interests of such persons.
