Winchester Bancorp in Winchester, Mass., is getting close to converting to a two-tier mutual holding company structure.
The proposed holding company for the $873 million-asset Winchester Savings Bank signed an agency agreement for Raymond James to help market its common stock. Raymond James will receive a $25,000 management fee and a success fee equal to 1.15% of the aggregate dollar amount of shares sold, subject to a $400,000 minimum success fee.
Raymond James will also receive a fee of $25,000 for records agent services.
Winchester disclosed late last year that it plans to raise about $35.3 million from the conversion.