MFB Bancorp, Inc. Filed Primary

What the company does

MFB Bancorp, Inc. is a newly formed Delaware corporation being organized as the holding company for Mutual Federal Bank, a federally chartered savings association headquartered in Chicago, Illinois. Founded in 1905, Mutual Federal Bank conducts business from one office in Cook County, Illinois, primarily taking deposits from the general public and investing them in one-to-four-family residential real estate loans, home equity loans, multifamily loans and commercial real estate loans, as well as purchasing retail mortgage loans from other local originators. The company also invests in U.S. government-sponsored mortgage-backed securities and collateralized mortgage obligations. At June 30, 2026, Mutual Federal Bancorp had consolidated total assets of $96.6 million, total deposits of $61.9 million and stockholders' equity of $16.3 million.

Use of proceeds

The company is undertaking the conversion and stock offering to support planned growth and strengthen its regulatory capital position, improve the liquidity of its shares of common stock by moving listing to the OTCQX Market, facilitate the ability to pay dividends to public stockholders, provide greater flexibility to access the capital markets, and facilitate future mergers and acquisitions. The capital raised will enable the company to support potential growth and expansion by increasing its legal lending limit.

Underwriters

Extracted from S-1 0001104659-26-107563, filed Sep 14, 2026 and verified against that filing text.

Key risk factors

• Residential mortgage loan concentration risk

  “Our historical emphasis on residential mortgage loans exposes us to lending risks;”

• Reliance on purchased mortgage loans

  “Historically, we have purchased retail one-to-four-family mortgage loans from local financial institutions, some of whom may decide not to continue selling us loans in the future;”

• Commercial and multifamily real estate loan credit risk

  “We have commercial real estate and multifamily real estate loans in our portfolios, and these loans involve credit risks;”

• Chicago MSA real estate concentration

  “We have a significant number of loans secured by real estate in the Chicago MSA;”

• Allowance for credit losses sufficiency

  “If our allowance for credit losses is not sufficient to cover actual credit losses, our earnings could decrease.”

• Interest rate risk

  “Future changes in interest rates could negatively affect our operating results and asset values;”

• Reliance on wholesale funding

  “Our inability to generate core deposits may cause us to rely more heavily on wholesale funding strategies for funding and liquidity needs.”

• Regulatory compliance cost risk

  “Changes in laws and regulations and the cost of regulatory compliance with new laws and regulations may adversely affect our operations and/or increase our costs of operations;”