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Loan and Mortgage Terms Glossary

Merger-Conversion:

A transaction in which a mutual thrift institution converts to stock form and simultaneously merges into an acquiring stock thrift or bank. The acquiring institution obtains the stock of the converting institution in exchange for stock in the new, combined institution that results from the merger. Account holders at the converting mutual are given the opportunity to buy stock in the new, combined institution.


 
     
 
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