Press Release

Approval of Application by MB Mutual Holding Company and MB Bancorp, Inc.

October 16, 2018

NEW YORK—The Federal Reserve Bank of New York approved the application by MB Mutual Holding Company and MB Bancorp, Inc., both of Wall Township, New Jersey, to merge with Metuchen MHC and Metuchen Bancorp, Inc., both of Metuchen, New Jersey, and thereby indirectly acquire Metuchen Savings Bank, Metuchen, New Jersey, pursuant to Sections 3(a)(3) and 3(a)(5) of the Bank Holding Company Act of 1956, as amended, and Sections 225.11 and 225.15 of Regulation Y.

According to standard procedure, the proposal cannot be completed sooner than 15 calendar days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.