FedFirst conversion progresses
FedFirst Financial Corp., Pittsburgh, said its plan to convert from a mutual holding company structure to a stock-holding one has been approved by members of its holding company and its shareholders. Both groups met separately Monday.
FedFirst (Nasdaq:FFCO) also said that it has begun a syndicated community offering to complete the sale of shares. FedFirst hopes to raise $26 million from the stock sale online payday loans. Investment banking firm Stifel, Nicolaus & Co. is assisting with the stock offering.
FedFirst, based in Monessen, about 20 miles southeast of Pittsburgh, operates nine branches in Fayette, Washington and Westmoreland counties.