Monroe Federal Bancorp Files S-1 for Public Offering

Ticker: MFBI · Form: S-1 · Filed: Jun 13, 2024 · CIK: 2024899

Monroe Federal Bancorp, Inc. S-1 Filing Summary
FieldDetail
CompanyMonroe Federal Bancorp, Inc. (MFBI)
Form TypeS-1
Filed DateJun 13, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$50.00, $150,000, $200,000, $10.00, $155.3 m
Sentimentneutral

Sentiment: neutral

Topics: ipo, registration-statement, sec-filing

TL;DR

Monroe Federal Bancorp just filed an S-1, looks like they're going public soon.

AI Summary

Monroe Federal Bancorp, Inc. filed an S-1 registration statement on June 13, 2024, for an unspecified number of shares. The company, headquartered at 24 East Main Street, Tipp City, Ohio, is seeking to register securities under the Securities Act of 1933. Lewis R. Renollet serves as President and Chief Executive Officer.

Why It Matters

This S-1 filing indicates Monroe Federal Bancorp, Inc. is preparing to offer its securities to the public, which could lead to increased liquidity and capital for the company.

Risk Assessment

Risk Level: medium — As an S-1 filing, it signifies a company entering the public markets, which inherently carries risks associated with market volatility and regulatory scrutiny.

Key Players & Entities

  • Monroe Federal Bancorp, Inc. (company) — Registrant
  • June 13, 2024 (date) — Filing Date
  • 24 East Main Street Tipp City, Ohio 45371 (address) — Principal Executive Offices
  • Lewis R. Renollet (person) — President and Chief Executive Officer
  • Securities Act of 1933 (legislation) — Governing Act for Registration

FAQ

What is the total number of shares Monroe Federal Bancorp, Inc. intends to offer?

The S-1 filing does not specify the total number of shares to be offered, only that it is a registration statement for an unspecified amount.

What is the proposed price range for the shares?

The S-1 filing does not disclose a proposed price range for the shares.

When does Monroe Federal Bancorp, Inc. expect the offering to commence?

The filing indicates 'Approximate date of commen' but the full date is truncated in the provided text.

What is the primary business of Monroe Federal Bancorp, Inc.?

The filing does not detail the primary business operations of Monroe Federal Bancorp, Inc. beyond its status as a registrant under the Securities Act of 1933.

Who are the legal counsel for Monroe Federal Bancorp, Inc. in this filing?

Kip A. Weissman, Esq. and Victor L. Cangelosi, Esq. from Luse Gorman, PC, and Edward G. Olifer, Esq. and Stephen F. Donahoe, Esq. from Kilpatrick Townsend & Stockton LLP are listed as counsel.

Filing Stats: 4,530 words · 18 min read · ~15 pages · Grade level 13.7 · Accepted 2024-06-13 12:34:52

Key Financial Figures

  • $50.00 — ositors of Monroe Federal with at least $50.00 on deposit as of the close of business
  • $150,000 — , may purchase more than 15,000 shares ($150,000) of common stock, and no person or enti
  • $200,000 — , may purchase more than 20,000 shares ($200,000) of common stock, in all categories of
  • $10.00 — ng for sale. OFFERING SUMMARY Price: $10.00 per share Minimum Midpoint Maximum
  • $155.3 m — March 31, 2024, we had total assets of $155.3 million, total deposits of $142.1 million
  • $142.1 million — ts of $155.3 million, total deposits of $142.1 million and total equity of $8.6 million. We ha
  • $8.6 million — s of $142.1 million and total equity of $8.6 million. We had net income of $60,000 and $388,
  • $60,000 — y of $8.6 million. We had net income of $60,000 and $388,000 for the fiscal years ended
  • $388,000 — llion. We had net income of $60,000 and $388,000 for the fiscal years ended March 31, 20
  • $6.0 million — of May 24, 2024, this market value was $6.0 million. Based on OCC regulations, this market
  • $5.1 million — of a valuation range with a minimum of $5.1 million and a maximum of $6.9 million. Based on
  • $6.9 million — inimum of $5.1 million and a maximum of $6.9 million. Based on this valuation and the $10.00
  • $256.8 million — ompanies with total assets ranging from $256.8 million to $905.0 million as of March 31, 2024,
  • $905.0 million — l assets ranging from $256.8 million to $905.0 million as of March 31, 2024, that Feldman Fina
  • $1.9 m — invest in Monroe Federal approximately $1.9 million, $2.3 million, $2.8 million and $

Filing Documents

RISK FACTORS

RISK FACTORS 13 SELECTED FINANCIAL AND OTHER DATA OF MONROE FEDERAL 27

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 29 HOW WE INTEND TO USE THE PROCEEDS FROM THE STOCK OFFERING 31 OUR DIVIDEND POLICY 32 MARKET FOR THE COMMON STOCK 33 HISTORICAL AND PRO FORMA REGULATORY CAPITAL COMPLIANCE 34 CAPITALIZATION 35 PRO FORMA DATA 36 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 40 BUSINESS OF MONROE FEDERAL BANCORP 52 BUSINESS OF MONROE FEDERAL 53 REGULATION AND SUPERVISION 67 TAXATION 76 MANAGEMENT 77 SUBSCRIPTIONS BY DIRECTORS AND EXECUTIVE OFFICERS 86 THE CONVERSION AND STOCK OFFERING 87 RESTRICTIONS ON ACQUISITION OF MONROE FEDERAL BANCORP 107 DESCRIPTION OF CAPITAL STOCK OF MONROE FEDERAL BANCORP 113 TRANSFER AGENT 114 EXPERTS 114 CHANGE IN AUDITOR 115 LEGAL MATTERS 115 WHERE YOU CAN FIND ADDITIONAL INFORMATION 115 INDEX TO FINANCIAL STATEMENTS OF MONROE FEDERAL SAVINGS AND LOAN ASSOCIATION 117 i SUMMARY The following summary provides material information about Monroe Federal’s mutual-to-stock conversion and the related offering of common stock by Monroe Federal Bancorp. It may not contain all of the information that is important to you. For additional information, you should read this entire document carefully, including the consolidated financial statements and the related notes and the section entitled “Risk Factors,” before making an investment decision. Monroe Federal Bancorp, Inc. Monroe Federal Bancorp, a newly formed Maryland corporation, is offering for sale shares of its common stock in connection with the conversion of Monroe Federal from a mutual savings bank (meaning it has no stockholders) to a stock savings bank. As a mutual savings bank, all depositors and borrowers are members of and have voting rights in Monroe Federal as to all matters requiring a vote of members. The following diagram depicts Monroe Federal’s current organizational structure: Upon completion of the conversion and stock offer

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