Nutter represents Centrix Bank & Trust in merger with Eastern Bank CorporationPrint PDF
Nutter advised Centrix Bank & Trust (OTCBB: CXBT), a commercial bank based in Bedford, New Hampshire, in its sale to Eastern Bank Corporation, the parent of Eastern Bank, based in Boston, Massachusetts.
Eastern paid approximately $134 million in cash for all outstanding shares of Centrix common stock. The transaction was completed on October 24, 2014, at which time all Centrix branches became branches of Eastern. As a result of the transaction, the combined organization now has total assets of approximately $9.5 billion and 102 retail banking offices in Massachusetts and New Hampshire.
The Nutter team advising Centrix was led by Michael Krebs, co-chair of the Banking and Financial Services practice group, and included partner Adam Ghander, of counsel Matthew Hanaghan, and associate Thomas Powers.