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North Shore, Saugusbank Finalize Merger

Sep 3, 2014 | Reprints | Unlock Link | Print

North Shore Bank and Saugusbank officially completed their merger this week, finalizing the deal on Sept. 1.

The combined entity, North Shore Bank and its parent company North Shore Bancorp, will have $680 million in assets and 20,000 customers across 11 full-service branches in Eastern Massachusetts.

North Shore President and CEO David J. LaFlamme will become CEO of the new bank, and Saugusbank President and CEO Kevin M. Tierney Sr. will become president and chief operating officer.

"We’re obviously quite thrilled about our partnership – bringing together the staffs of Saugusbank and North Shore Bank," LaFlamme said in a statement. "Our organizations are extremely similar culturally and we anticipate that the two banks will integrate seamlessly."

Banking & Lending