Shareholders, some controlling less than 100 shares and represented by big law firms, have gone after community banks in Massachusetts – mostly sellers – during mergers or acquisitions, seeking small fees in a timely manner.
The parent company of Brockton-based HarborOne Bank has received the necessary regulatory approvals to complete its acquisition of the parent company of Warwick, Rhode Island-based Coastway Bank.
HarborOne announced yesterday that it would purchase the parent of Warwick, Rhode Island-based Coastway Bank in an all cash transaction valued at $125.6 million.
