A former credit union which converted to a mutual bank and thenformed a mutual holding company is reportedly gearing up to issuestock.

According to the Providence Journal the bank, which hadbeen the $304 million Coastway Credit Union until 2009, has decided to move from amutual holding company structure which its depositors approved in2012 to a publicly traded, stock-issuing bank.

Mutual banks which have a mutual holding company structure can also issue stock but in amore limited way and Coastway has not done that, and there havebeen reports the structure is becoming less popular due toregulatory changes.

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