Bank / Credit Union

Dollar Mutual Bancorp inks merger with Standard AVB

June 3, 2021

Dollar Mutual Bancorp, the holding company for Dollar Bank and Federal Savings Bank, has completed its merger with Standard AVB Financial Corp., the parent company of Standard Bank. With this merger, Standard Bank will become a federal savings bank, but will operate as a separate financial institution, according to a press release.

Stockholders of Standard will receive $33 in cash for each share of Standard common stock they own.

"We are ecstatic to announce the completion of this merger and welcome Standard Bank into the Dollar family," Jim McQuade, president and CEO of Dollar, said in the release. "This merger allows us to expand our footprint in the region and align with bankers who share our commitment to the customers and communities we serve."