EWSB Bancorp Files S-1/A Amendment

TL;DR

EWSB Bancorp filed an S-1/A, looks like they're prepping for an offering.

AI Summary

EWSB Bancorp, Inc. filed a Pre-Effective Amendment No. 2 to its Form S-1 Registration Statement on June 4, 2024. This filing relates to the registration of securities under the Securities Act of 1933. The company is incorporated in Maryland and its principal executive offices are located at 109 West Second Street, Kaukauna, Wisconsin.

Why It Matters

This S-1/A filing indicates EWSB Bancorp is moving forward with its registration process, which is a step towards potentially offering its securities to the public.

Risk Assessment

Risk Level: medium — S-1/A filings are typically associated with initial public offerings or significant capital raises, which inherently carry market and execution risks.

Key Numbers

• 333-277828 — SEC File Number (Identifies this specific registration filing with the SEC.)
• 20240604 — Filing Date (The date the amendment was filed with the SEC.)

Key Players & Entities

• EWSB Bancorp, Inc. (company) — Registrant
• Charles D. Schmalz (person) — President and Chief Executive Officer
• Silver, Freedman, Taff & Tiernan LLP (company) — Legal Counsel
• Luse Gorman, PC (company) — Legal Counsel

FAQ

Key Financial Figures

• $150,000 — , may purchase more than 15,000 shares ($150,000) of common stock, and no person or enti
• $300,000 — , may purchase more than 30,000 shares ($300,000) of common stock. All shares of common
• $10.00 — re being offered for sale at a price of $10.00 per share. Purchasers will not pay a co
• $122.6 m — nd commercial loans. At March 31, 2024, $122.6 million, or 69.4%, of our total loan port
• $31.6 m — r-family residential real estate loans, $31.6 million, or 17.9%, of our total loan port
• $6.4 m — marine and recreational vehicle loans, $6.4 million, or 3.6%, of our total loan portf
• $4.1 m — e equity loans and lines of credit, and $4.1 million, or 2.3%, of our total loan portf
• $6.0 million — he funding of our operations and we had $6.0 million of FHLB advances at March 31, 2024. Add
• $17.0 million — ;BTFP”) in January 2024 and had a $17.0 million outstanding borrowing at March 31, 2024
• $378,000 — 024 and 2023, we incurred net losses of $378,000 and $127,000, respectively. For the yea
• $127,000 — we incurred net losses of $378,000 and $127,000, respectively. For the years ended Dece
• $935,000 — 023 and 2022, we incurred net losses of $935,000 and $4.2 million, respectively. Our res
• $4.2 m — we incurred net losses of $935,000 and $4.2 million, respectively. Our results of ope
• $5.1 million — able-for-sale securities resulting in a $5.1 million pretax loss upon the sale of those secu
• $50.00 — ank with aggregate balances of at least $50.00 at the close of business on December 31

Filing Documents

• tm248039d4_s1a.htm (S-1/A) — 3590KB
• tm248039d4_ex99d3-1.htm (EX-99.3(1)) — 1145KB
• tm248039d4_ex23-3.htm (EX-23.3) — 3KB
• tm248039d4_ex-filingfees.htm (EX-FILING FEES) — 11KB
• logo02.jpg (GRAPHIC) — 3KB
• map01.jpg (GRAPHIC) — 68KB
• tm248039d1_s1-finsimg01.jpg (GRAPHIC) — 9KB
• tm248039d1_s1-finsimg02.jpg (GRAPHIC) — 2KB
• tm248039d4_ex23-3img001.jpg (GRAPHIC) — 4KB
• tm248039d4_ex23-3img002.jpg (GRAPHIC) — 5KB
• tm248039d4_ex23-3img003.jpg (GRAPHIC) — 2KB
• 0001104659-24-068251.txt ( ) — 4880KB

BUSINESS

BUSINESS OF NEW EWSB BANCORP, INC. 65

BUSINESS

BUSINESS OF EAST WISCONSIN SAVINGS BANK 65 SUPERVISION AND REGULATION 85 TAXATION 99 MANAGEMENT OF EWSB BANCORP, INC. 100 SUBSCRIPTIONS BY DIRECTORS AND EXECUTIVE OFFICERS 110 THE CONVERSION AND OFFERING 111 RESTRICTIONS ON ACQUISITION OF NEW EWSB BANCORP, INC. 135 DESCRIPTION OF CAPITAL STOCK 142 TRANSFER AGENT 144 EXPERTS 144 LEGAL AND TAX MATTERS 144 WHERE YOU CAN FIND ADDITIONAL INFORMATION 144 Index to Consolidated Financial Statements F-1 SUMMARY The following summary explains the significant aspects of the MHC's mutual-to-stock conversion and the related offering of New EWSB Bancorp common stock. It may not contain all of the information that is important to you. For additional information before making an investment decision, you should read this entire document carefully, including the consolidated financial statements and the notes to the financial statements, and the section entitled "Risk Factors." In this prospectus, the terms "we," "our," and "us" refer to New EWSB Bancorp, the Bank, the MHC and the current Wisconsin-chartered mid-tier holding company of the Bank, EWSB Bancorp, Inc. ("Old EWSB Bancorp"), unless the context indicates another meaning. New EWSB Bancorp, Inc. New EWSB Bancorp, Inc. is a newly formed Maryland corporation that will own all of the outstanding shares of common stock of the Bank upon completion of the conversion and the offering. New EWSB Bancorp has not engaged in any business to date. Our corporate offices are located at 109 West Second Street, Kaukauna, Wisconsin 54130. Our telephone number at this address is (920) 766-4646. East Wisconsin Savings Bank The Bank is a Wisconsin-chartered stock savings bank headquartered in Kaukauna, Wisconsin. The Bank was organized in 1887 under the name Kaukauna Savings and Loan Association. In 1972, the Bank changed its name to East Wisconsin Savings and Loan Association and in 1997, the Bank changed its name to East Wisconsin Savings Bank, S

View Full Filing

View this S-1/A filing on SEC EDGAR