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Mutual Federal Bancorp, Inc. Announces Adoption of Plan of Conversion and Reorganization to Undertake Second Step Conversion

CHICAGO, Aug. 27, 2026 /PRNewswire/ -- Mutual Federal Bancorp, Inc. (the "Company") (OTCID Market: "MFDB"), the holding company for Mutual Federal Bank (the "Bank"), announced today that the Board of Directors of its parent mutual holding company, Mutual Federal Bancorp, MHC, has adopted a Plan of Conversion and Reorganization pursuant to which Mutual Federal Bancorp, MHC will undertake a "second step" conversion from the mutual holding company structure to the stock holding company structure. Mutual Federal Bancorp, MHC currently owns approximately 77.4% of the outstanding shares of common stock of the Company which it acquired in connection with the reorganization of the Bank into the mutual holding company structure and the related initial public offering by the Company in 2006.