Ben Franklin Financial: Tiny Bank Merger and Liquidation | Value Investing News

Ben Franklin Financial: Tiny Bank Merger and Liquidation

  • Ben Franklin Financial (BFFI) is a tiny (sub $10MM market cap) two branch community bank located in the northwest Chicago suburb of Arlington Heights that completed its second step mutual-to-stock conversion in 2015.
  • Why sell to a credit union?
  • Not only is the amount uncertain, but the timing is as well, the transaction with CAFCU is expected to close in early 2020 with the distribution to shareholders occurring "within several months", thus this is more of a two step process, an asset sale and then a liquidation rather than a clean merger.
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