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. Thats right, if you have one of these common accounts at a mutual savings bank that is about to go public, you are in one of the best spots to get stock. But mostly, banks want deposits, Matthews said. THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS DOCUMENT. 2. If you were a depositor at Belmont Savings Bank before it went public in 2011, you likely bought stock at $10 per share. Thats where the mutual model fits in. Other critics say these investors contribute to the demise of small banks that are connected to their communities and help support local businesses, charities, and residents. Prior to Winterkorn, Chris was part of Merrill Lynchs Investment Banking division from 1994 to 2002. Its been done a couple other times, so it gives you lots of flexibility. Save Needham Bank | Needham MA - Facebook And the way to make the most money on mutual savings banks is by investing in them when they are private, and then hoping they go public. So there arent very many banks that go public on a yearly basis. Obviously, I am not talking about Bank of America or Wells Fargo, which are banks you might have heard about during the financial crisis in 2008, or may associate with too big to fail.. But Matthewss interest in these small, local institutions does not spring from some Its a Wonderful Life nostalgia. Here is one more recent example with much better stock information just so you get the point. Our second mutual fund, Needham Aggressive Growth Fund (NEAGX), opened to investors on September 4. However, 11 community banks issued IPOs in 2018, according to this article. They want it from a branch or a call center or private bankers. Nothing is ever full proof and there is always a recession looming, but mutual savings banks are considered extremely safe these days. history, career opportunities, and more.