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Company Description (as filed with the SEC)
FSB Bancorp is a Maryland corporation that was organized in March 2016. Upon completion of the conversion, FSB Bancorp will become the holding company of Fairport Savings Bank and will succeed to all of the business and operations of FSB Community, and both of FSB Community and FSB Community Bankshares, MHC will cease to exist. Initially following the completion of the conversion, FSB Bancorp will have cash and securities held by FSB Community, as well as cash and securities held by FSB Community Bankshares, MHC, which totaled $50,000 as of December 31, 2015, and the net proceeds FSB Bancorp retains from the offering, part of which will be used to fund a loan to the Fairport Savings Bank Employee Stock Ownership Plan. FSB Bancorp will have no significant liabilities. FSB Bancorp intends to use the support staff and offices of Fairport Savings Bank and will pay Fairport Savings Bank for these services. ... More ...