Hoyne Bancorp's Conversion Plan Approved: A New Era for Savings Bank Ownership

Hoyne Bancorp's Major Milestone: Member Approval of Conversion Plan

On November 14, 2025, Hoyne Bancorp, Inc., a Delaware corporation, made headlines by announcing the completion of its subscription offering tied to a significant conversion. This conversion marks a transition from a mutual holding company structure to a stock holding company model for Hoyne Savings, MHC, and will officially convert the bank into a stock savings bank and wholly-owned subsidiary of Hoyne Bancorp.

This transformative plan, referred to as the "Plan of Conversion," allows the newly-formed company to offer a structured stock offering to its members. The subscription offering phase, which closed on November 5, 2025, saw overwhelming interest, indicating strong confidence among eligible account holders. Preliminary results show that the offering was oversubscribed, marking a successful step in the conversion process.

Hoyne Bancorp stated that eligible depositors will have first priority in the allocation of shares based on the order they subscribed to the offering. Following the closure of this phase, any unfulfilled subscribers will have their funds returned with interest promptly after the conversion's closing. The number of shares available and the final allocation will depend on an appraisal and the required regulatory approvals, which the Company is currently pursuing.

The excitement surrounding this conversion isn't solely focused on financial outcomes. The Company also announced the successful establishment of the Hoyne Charitable Foundation, Inc. This foundation is designed to enhance the community's welfare, reflecting Hoyne Bancorp's commitment to serving not only its members but also the broader public. The foundation's initial funding comes from Cash Resources that were made available through the conversion process.

The anticipated closing date for both the subscription offering and the overall conversion is early December 2025, pending approval from relevant regulatory bodies. With growth and progress on the horizon, Hoyne's common stock is expected to commence trading on The Nasdaq Capital Market under the symbol "HYNE" soon after the closing date.

Keefe, Bruyette & Woods, Inc., a Stifel Company, played a pivotal role as the selling agent for the subscription offering while also acting as financial advisor to the Company and the Bank. Legal counsel was provided by Vedder Price P.C. from Chicago, ensuring that all regulatory and legal aspects were adhered to correctly throughout the process.

Looking ahead, the Company recognizes that there are inherent uncertainties linked to such transformational activities. Factors including the timing of receiving final regulatory approvals and satisfying customary closing conditions could influence the expected outcomes. Despite potential challenges, Hoyne Bancorp is optimistic, asserting its resilience in navigating these complexities.

Hoyne's future strategies are not only focused on business growth but also on maintaining a deep-rooted connection with the community it serves. This commitment is made evident through the establishment of the charitable foundation, aiming to foster social responsibility alongside operational success—an essential aspect as the Company transitions into a new structural paradigm.

The strategic steps being taken at Hoyne Bancorp provide an excellent case study in the intersection of financial services and community engagement, highlighting how firms can thrive while nurturing their local environments. The marketplace eagerly awaits further developments, particularly concerning the details surrounding the allocation of shares and the foundation's planned initiatives.