MW Bancorp, Inc. (OTCMKTS:MWBC) Files An 8-K Regulation FD Disclosure
Item 7.01
| Other Events. |
On April 3, 2017, MW Bancorp, Inc. issued a press release
announcing that its Board of Directors has approved the reversal
of the valuation allowance on the Companys deferred tax assets.
The reversal results in the recognition of a tax benefit in the
third fiscal quarter ended March 31, 2017 of approximately $1.3
million. The reversal was based primarily on recognition of the
Companys net earnings reported over the current and prior two
fiscal years and an analysis performed by the Companys management
of projected future operating results.
Additionally, the Board of Directors has declared a special
dividend of $0.50 per share to the Companys stockholders of
record on April 14, 2017, payable on April 28, 2017.
The press release announcing the reversal of the valuation
allowance on the deferred tax assets and the dividend is attached
as Exhibit 99.1 to this Current Report on Form 8-K and
incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits |
The following exhibits are furnished herewith:
| Exhibit Number | Exhibit Description |
| Press Release of MW Bancorp, Inc. dated April 3, 2017 |
About MW Bancorp, Inc. (OTCMKTS:MWBC)
MW Bancorp, Inc. is a savings and loan holding company. The Company is a stock holding company for Watch Hill Bank (the Bank). The Company is engaged in taking deposits from the public and investing those deposits, together with funds generated from operations and borrowings in one- to four-family residential real estate loans, commercial real estate and multi-family loans, construction loans, commercial business loans and consumer loans. The Company invests in securities, which consist of mortgage-backed securities issued by the United States Government sponsored entities and the United States government agency obligations and certificates of deposit. It offers a range of deposit accounts, including non-interest-bearing and interest-bearing checking accounts. The Watch Hill Bank conducts a general banking business, which consists of attracting deposits from the general public and applying those funds to the origination of loans for residential, consumer and nonresidential purposes. MW Bancorp, Inc. (OTCMKTS:MWBC) Recent Trading Information
MW Bancorp, Inc. (OTCMKTS:MWBC) closed its last trading session 00.00 at 21.00 with shares trading hands.
