Even after more than 40 years in the banking industry, John Galvani has no plans to retire. He just led Norwood Bank through the acquisition of Foxboro Federal Savings, and will lead it through a second change when it officially adopts the name “OneLocal Bank” in April.
While the level of turmoil will likely vary with each of the five major mergers planned by banks based locally or with significant presence here, mutual bank leaders see opportunities to gain customers and skilled employees.
Boston Private’s shareholders have approved the merger with the parent company of Silicon Valley Bank after the bank delayed the vote for a week to gather more support for the deal.
Rockland Trust Co.’s acquisition of East Boston Savings Bank will give it the size needed to stay competitive and opportunities to increase revenue, analysts say, allowing the bank to keep pace with growing rival Eastern Bank.
While M&T’s entry into the market will change the state’s banking landscape, analysts believe the well-run institution will not disrupt the local industry – and it could even open a few opportunities for competitors.
The parent company of Buffalo-based M&T Bank has agreed to acquire Connecticut-based People’s United Bank for a deal valued at $7.6 billion.
In the age of coronavirus, bank merger deals have to be solemnified with a brand-new gesture.
Boston-based Radius Bank plans to move forward with the acquisition by LendingClub despite the California-based fintech’s reorganization this week due to the effects of the coronavirus pandemic.
Two subsidiaries of holding company Brookline Bancorp have merged into one bank. First Ipswich Bank, which at the end of 2019 had about $466 million in assets, has merged into Brookline Bank.
Taunton-based Bristol County Savings Bank has entered into an agreement to acquire Freedom National Bank in Rhode Island.
Cambridge Savings Bank announced on Wednesday plans to acquire Melrose Bank.
When Cambridge Trust Company acquires Wellesley Bank next year, the private bank will finally have a foothold in a market close to – but just outside – its reach.
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.
Cambridge Trust Co., will pay $122 million when it acquires Wellesley Bank in an all-stock transaction. It will be Cambridge Trust’s second merger of the year.
The holding companies for Cambridge Trust Company and Wellesley Bank have entered into an agreement in which Wellesley Bancorp Inc. will merge with and into Cambridge Bancorp in an all-stock transaction, according to a joint statement from the banks.
People’s United Bank will close 12 branches in western and central Massachusetts, including three in Worcester, as part of its branch consolidation following its acquisition of United Bank.
Bridgewater Savings Bank and Mansfield Bank announced on Wednesday plans to merge the two southeastern Massachusetts mutual banks.
Bridgeport-based People’s United Financial Inc., the holding company for People’s United Bank, acquired United Bank and its holding company, United Financial Bancorp Inc., in an all-stock transaction on Nov. 1.
The merger between Hartford-based United Bank and Bridgeport-based People’s United Bank could happen as early as next week now that United’s shareholders have approved the proposal.
bankHometown has completed its merger with Millbury Savings Bank. Millbury Savings Bank President and CEO Robert J. Morton has been appointed president and CEO of the combined entity.
