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Merger/conversions (the purchase of a mutual savings bank by a stock bank, with the depositors of the mutual bank offered the opportunity to purchase stock of the acquiring bank or holding company) are closely reviewed by the FDIC to ensure that (i) the value of the converting institution is fairly determined, and (ii)
What does mutual mean in banking?
A mutual bank is a financial institution that specializes in offering savings accounts and originating home mortgages, and is owned (but not controlled) by depositors. Mutual banks dont report to shareholders, and theyre typically known for prioritizing community giving more than other financial institutions.
Who is the CEO of First mutual?
Douglas Hoto is an accomplished business leader and currently holds the reins at First Mutual Holdings Limited as Group Chief Executive Officer.
Who owns a mutual bank?
Mutual banks are not owned by any one individual or entity. 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.
What is mutual holding company?
A mutual holding company results from the conversion of a mutual institutionsuch as an MSB, mutual savings and loan institution, or mutual insurance companyinto a parent company of a subsidiary stock company.
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Institutions that own FMHL National Social Security Authority47903138669.41% Old Mutual Investment Group Zimbabwe (Pvt) Ltd. 762206 0.11%
Where is the first mutual holding company headquarters?
First Mutual Holding Company Company Profile | Lakewood, OH | Competitors, Financials Contacts - Dun Bradstreet.
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