Westbury Bancorp Inc., the West Bend-based holding company for Westbury Bank, has completed its stock offering in connection with the mutual-to-stock conversion of WBSB Bancorp MHC.
Shares of the company’s common stock began trading on the Nasdaq Stock Exchange under the ticker symbol “WBB.”
The company sold nearly 5.1 million shares of common stock at $10 per share in its subscription offering for gross offering proceeds of $50.9 million, including 411,403 shares purchased by Westbury Bank’s employee stock ownership plan.
In addition, the company contributed 50,916 shares and $490,840 in cash to a charitable foundation established by Westbury Bank in connection with the conversion.
Ray Lipman, chairman, president and chief executive officer of Westbury Bancorp and Westbury Bank, said, “I would like to again extend our appreciation to our employees for their dedication to our continued success, and to our customers and the communities we serve for their loyalty and support in achieving our very successful offering. We look forward to continuing our tradition of service with our local neighborhood brand of banking.”
Originally chartered in 1926, Westbury Bank serves individuals and businesses through its 12 branches and two home loan centers located in Washington, Waukesha and Milwaukee counties.