Wolverine Bank Goes Public On NASDAQ 1-20-2011 - WNEM TV 5

Wolverine Bank Goes Public On NASDAQ 1-20-2011

Midland-based Wolverine Bank will begin trading for the first time on the NASDAQ Capital Market Thursday.
Wolverine Bancorp, Inc., the holding company for Wolverine Bank, announced Wednesday it closed its stock offering. The stock offering is a part of the mutual to stock conversion of Wolverine Bank.
Bank officials said move has taken about six months to finalize.
Wolverine Bank will use the symbol "WBKC” when it is featured on the stock exchange ticker sometime after 11 a.m.
Wolverine Bancorp, Inc. sold 2,507,500 shares of its common stock at $10 per share in a subscription offering and community offering, including 200,600 shares sold to the Wolverine Bank employee stock ownership plan.
The stock closed Thursday at $12.45 per share.
Wolverine Bank, a federally chartered, FDIC-insured savings bank, was organized in 1933.
Wolverine Bank has three offices in Midland, and one in Frankenmuth and one in Saginaw.
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