Bluestone Bank's headquarters building in Raynham. Photo courtesy of Bluestone Bank

Bluestone Bank has officially joined Mutual Bancorp, the mutual holding company for Cape Cod 5 and Fidelity Bank.

“Our vision for Mutual Bancorp has always been to create a stronger mutual banking organization that can invest in the future while preserving the relationships and commitment to service that our clients value most,” Mutual Bancorp and Cape Cod 5 CEO Matt Burke said in a statement. “We are excited to officially welcome Bluestone Bank into the Mutual Bancorp family and look forward to supporting its continued success for clients, team members, and the communities it serves.”

The combined organization will have $8.4 billion in assets. Bluestone Bank will continue to operate under the Bluestone name and brand.

“Joining Mutual Bancorp provides Bluestone with additional operational support, enhanced technology capabilities, specialized expertise, and greater capacity for future investment while remaining focused on what matters most our clients and communities,” Bluestone Bank President and CEO Meg McIsaac said in a statement. “This partnership strengthens our ability to serve clients while preserving the personalized service and community focus that are at the heart of our organization.”

Bluestone Bank adds 11 banking offices and one loan production office across southeastern Massachusetts to the Mutual Holding Company network, with branches in Bridgewater, East Bridgewater, Lakeville, Mansfield, Norton, Pembroke, Plainville, Raynham, Taunton, and West Bridgewater.

Those branches complement Cape Cod 5’s 24 branches, including three off-Cape in Wareham and Plymouth, and Fidelity Bank’s 12 branches spread across Central Massachusetts.

The merger also makes Mutual Bancorp the state’s biggest mutual holding company, ahead of the $6.9 billion-asset Hometown Financial Group, which counts BankESB, BankHometown and TruNorth Bank among its members.