Conversions

Mutual institutions and mutual holding companies face unique issues when seeking to access the capital markets, requiring specialized expertise from their financial advisor. Sandler O’Neill has completed over 100 conversions and demutualizations for thrifts and insurance companies, making the firm one of the most experienced in providing these services. With specialists in every aspect of this process, we work with mutuals to:

  • provide comprehensive advice on corporate and capital structure,
  • evaluate the benefits and responsibilities of public ownership,
  • understand the issuance landscape, the offering process and the concerns of investors, and
  • structure appropriate ownership incentives for directors, officers and employees.

We provide not only structuring and advisory services but also offer "best-in-class" execution. Our seasoned professionals supervise every aspect of the conversion process, including records data management, proxy solicitation services for obtaining the requisite depositor vote and on-site coordination of the subscription and community offering process. Post-conversion, we work with our clients to manage the proceeds raised and to implement appropriate capital management strategies.