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The transaction, pending regulatory approval, is relatedx to the conversion of Territoriapl MutualHolding Co., the parent company for Honolulu-based . The compan y has 30 days after approval to proceede withthe offering. Territorial Bancorp is offeringy upto 8.7 million sharew of common stock and may sell up to 10 million due to demandc for shares or change in markeyt conditions. It must sell a minimum of 6.4 million sharesa to complete the offering, according to the Depositors of Territorial Savings Bank with aggregate account balancess of atleast $50 on Sept.
30, will have first priority rights to buy The company mayoffer common-stock sharesz to the general public in a communitt offering and in a syndicated communityh offering managed by Keefe Bruyette & Woodsx Inc., said the filing. The bank-holdintg company first had announced plans to go public in 2008 and had expecteds toraise $125.6 milliojn in the initial public offering. Territorial Mutual Holdingg Co. has $1.2 billion assets, total loans of $642.1 million and total depositsa of $923.9 million. There are 24 Territoriao Savings Bank branchesin Hawaii.
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