CHFN is Mutual Bank doing an MHC conversion. 80% is held by the bank. 20% is publicly held. Of that 20%, 1/6th is held by bank board members and executives. CHFN would be worth $64 per share if they descided to do 2nd step conversion and sell the remaining 80%. The only reason it is even down in the mid 30's is because of the uncertainty of when they might go forward with 2nd step of conversion. Could be next month,...could be 10 years.