The Bank Slate


Piedmont Federal in NC to form MHC

Piedmont Federal Savings Bank in Winston-Salem, N.C., is looking to form a holding company. 

The $1 billion-asset bank filed applications with the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency tied to the initiative. The filings weren’t immediately available. 

In a legal notice filed in conjunction with the applications, Piedmont Federal said it is planning to reorganize into a federal mutual holding company. 

Piedmont Federal has had four charter changes since its formation in 1903, according to its website. 

The most recent change occurred in 2008 when the bank switched from a savings and loan association to a federal savings bank. At the same time, Piedmont Federal Savings & Loan became Piedmont Federal Savings Bank.

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