November 09, 2026

Federal Reserve Board Announces Approval of Two Applications by Mutual Federal Bancorp, MHC, and MFB Bancorp, Inc.

For release at 4:00 p.m. EST

WASHINGTON — The Federal Reserve Board announced on Monday its formal approval of two key applications submitted by Mutual Federal Bancorp, MHC, and MFB Bancorp, Inc., both headquartered in Chicago, Illinois. The regulatory decision marks a significant corporate reorganization for the Chicago-based financial institutions, clearing the path for structural changes within the banking organization’s holding company tier.

According to the regulatory announcement issued late Monday afternoon, the approvals granted by the central bank will allow the banking organization to establish a new top-tier holding company. Under the approved plans, MFB Bancorp, Inc. will officially become a savings and loan holding company. This transition is set to be achieved through the acquisition of Mutual Federal Bank, also located in Chicago, Illinois.

The regulatory clearance from the Federal Reserve Board is a crucial step in corporate restructuring transactions within the banking sector, particularly for mutual holding companies and their subsidiary institutions seeking to optimize their operational and capital structures. By securing these approvals, Mutual Federal Bancorp, MHC, and MFB Bancorp, Inc. can now proceed with their strategic corporate realignment under the oversight of federal banking regulators.

Savings and loan holding companies like the newly positioned MFB Bancorp, Inc. play a vital role in overseeing and managing subsidiary savings associations, ensuring that operations comply with federal banking standards, capital requirements, and consumer protection laws. The acquisition of Mutual Federal Bank by the new top-tier holding company consolidates the institutional framework governing the bank’s operations in the greater Chicago financial market.

The Federal Reserve Board routinely evaluates applications of this nature to ensure that corporate reorganizations, formations of new holding companies, and bank acquisitions meet statutory standards regarding financial stability, managerial resources, and the convenience and needs of the communities served. Monday’s announcement concludes the review process for the two specific applications submitted by the Chicago institutions.

For further information regarding the regulatory decisions or for media inquiries concerning the announcement, the Federal Reserve Board has directed interested parties to contact its media relations office. Inquiries can be sent via email to [email protected] or by telephone at (202) 452-2955.

Last Update: November 09, 2026