By the way, this ERKH announced in August 2023 they will sell out for $20 to $23 a share cash, but I don't see a change of control application pending and I don't know the status.
Most banks that are converting or have converted to a bank holding corp are incorporating in Maryland (see MSBB, etc.) Delaware isn't the go-to place for corporations as they tax shares not income, so if a company issues a bunch of shares, Delaware demands the share tax even if income is low.
By the way, this ERKH announced in August 2023 they will sell out for $20 to $23 a share cash, but I don't see a change of control application pending and I don't know the status.
Most banks that are converting or have converted to a bank holding corp are incorporating in Maryland (see MSBB, etc.) Delaware isn't the go-to place for corporations as they tax shares not income, so if a company issues a bunch of shares, Delaware demands the share tax even if income is low.