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Oneida, N.Y.-based Oneida Financial Corp. (MHC) said June 30 that its stockholders and the depositors of Oneida Savings Bank (MHC) have approved its plan of conversion.
Oneida Financial MHC will convert to a stock holding company form of organization under the plan, and Oneida Financial Corp., the proposed stock holding company for Oneida Savings Bank, will sell shares of its common stock.
The proposed holding company expects to sell 3,937,500 shares of common stock at $8 per share for gross proceeds of $31.5 million in the offering. Orders for a total of 1,965,099 shares of common stock have been accepted in the syndicated community...