Nutter Represents First Commons Bank in Proposed Merger with Brookline BankPrint PDF
Nutter advised First Commons Bank, N.A. in its proposed merger with Brookline Bank, a wholly-owned subsidiary of Brookline Bancorp, Inc. (NASDAQ: BRKL). Michael Krebs, chair of Nutter’s Corporate and Transactions Department and co-chair of the Banking and Finance practice group, led the legal team, which included Erin Anderman, Matthew Hanaghan, Tom Powers, Meghan Kelly, and Blake Tyler on corporate matters; Elizabeth Norman on tax issues; Michael Mooney, Liam O'Connell, Crescent Moran Chasteen, and Erin Whitney on executive compensation and labor matters; and Gary Gill-Austern and Matthew Snell on real estate matters.
First Commons Bank is a privately held national banking association with approximately $324 million in assets as of June 30, 2017 located in Newton and Wellesley, Massachusetts. First Commons Bank opened for business in July 2009. Brookline Bancorp expects that upon completion of the merger its total assets will be approximately $7.1 billion.
The total value of the transaction is approximately $55.958 million. The companies expect to complete the merger during the first quarter of 2018, subject to approval by First Commons Bank stockholders, the receipt of all required regulatory approvals, and the satisfaction of other customary closing conditions. Please click for more information on the transaction.
Nutter’s Banking and Financial Services practice group is ranked by Chambers and Partners as among the top banking practices in the nation. Nutter’s community banking practice is regarded as a market leader in New England, having represented more than 70 banks and thrift institutions in corporate and regulatory matters in the past few years. The firm has placed among the top 20 law firms nationally in merger and acquisition work for banks, according to the M&A Annual published by the American Banker.