In connection with the charter conversion, the Company has converted from a savings and loan holding company to a bank holding company.
"We are pleased to have completed our previously announced charter conversion. As we have previously stated, we believe the national bank charter is a better platform for our operations and will allow us to continue to grow our commercial business alongside of our traditional retail business. In addition, we expect that the Company and its shareholders ultimately will benefit from comparison to a peer group of banks, rather than thrifts," Gary Douglass, President and Chief Executive Officer, commented.
The conversion to a national bank charter had no effect on Pulaski Bank customers. Depositors will continue to be insured by the FDIC to the fullest extent permitted by law. Following the charter conversion, Pulaski Bank will continue to be regulated by the Office of the Comptroller of the Currency and the Company will continue to be regulated by the Federal Reserve Board.
