Central Plains Bancshares in Grand Island, Neb., plans to raise $36.8 million as part of a mutual conversion.
The parent of the $438 million-asset Home Federal Savings and Loan Association of Grand Island said in a press release that it expects to sell about 3.7 million shares of common stock at $10 each.
The company could sell as much as 4.2 million shares, for about $42 million of proceeds, if there is enough demand.
Proceeds could be used for a variety of purposes, including investing in securities, buying back stock and cash dividends.
Keefe, Bruyette & Woods is the marketing agent. Luse Gorman is legal counsel to the company.