Just as one former credit union turned bank issues its first stock, another has announced that it will abandon its previous mutual holding structure to become a fully stock issuing institution.

Dallas based Viewpoint Bank (formerly Community Credit Union) initially adopted a mutual holding company structure when it converted from a credit union charter in 2005. Under a mutual holding company structure, the bank is owned by a holding company that issues less than 50% of the company's available stock and is, in turn, controlled by the banks depositors in a mutual way.

By contrast, a straight stock issuing bank is owned by a holding company that issues stock. The straight stock structure allows non-depositors to own the bank by owning a majority of the holding company's stock. Now Viewpoint says it will move from a mutual holding company structure to a straight stock issuing structure.