Cambridge Trust to Close on Latest Acquisition Saturday
Greater Boston will now see two bank mergers in October after Cambridge Trust Co. received regulatory approval to acquire North Andover-based Northmark Bank.
Northmark Bank Had Considered Merging Last Year
Months before agreeing to merge with Cambridge Trust Co., Northmark Bank had considered merging into a different bank, and the two institutions had agreed to work exclusively on a potential deal.
Cambridge Trust Sees Wealth Opportunities in Northmark Deal
Cambridge Trust Co. plans to look for more wealth management opportunities north of Boston with its third bank acquisition in four years.
Cambridge Trust to Acquire Northmark Bank
The parent company of Cambridge Trust Co. plans to acquire North Andover-based Northmark Bank in an all-stock deal valued at $63 million.
Northmark Bank Receives ‘Needs to Improve’ CRA Grade
North Andover-based Northmark Bank received poor marks on its latest Community Reinvestment Act grade.
Mass. Banks Boast Low ‘Texas Ratios’
Four Massachusetts banks were recently judged as among the healthiest in the nation, according to a measure known as the Texas ratio, the financial information firm Sageworks said.
