While cost and economic pressures drive some bank mergers, that’s not the case for the recently announced plan to combine Bridgewater Savings Bank and Mansfield Bank, said Meg McIsaac, Mansfield Bank’s president and CEO.

“In effect, we would just be expanding our market with our partner, who has similar values and visions,” McIsaac said. She added: “It’s very important for us to convey that this is not going to be an acquisition in any way, shape or form.”

Announced last week, the consolidation will give southeastern Massachusetts a bank with about $1.2 billion in total assets, as Banker & Tradesman reported last week. Headquartered in Raynham, Bridgewater Savings Bank has almost $623 million in assets and eight branches in Raynham, Bridgewater, East Bridgewater, West Bridgewater, Lakeville, Pembroke and Taunton. With total assets of about $527 million, Mansfield Bank has four branches in Mansfield, Norton, West Bridgewater and Plainville on the North Attleborough line.

The consolidated bank would take the best of both banks, McIsaac said, and also adopt a a new name. The new name has not been announced.

Both banks want to remain relevant as community banks, McIsaac said, while also leveraging technology capabilities that customers expect. The new bank will retain the mutual form of ownership.

McIsaac will become president of the merged institution. Peter Dello Russo, president and CEO of Bridgewater Savings Bank, will become CEO.

Dello Russo said there would be no branch closings, adding that both banks wanted to ensure customers continue to see the same bank staff in the branches. He said the merger would give the banks economies of scale, expanded products and services, and an ongoing presence in their communities.

“This merger allows these banks to ensure that we have long-term viability for both institutions,” Dello Russo said.