Nutter to Set Firm Record this Year for Advising on Largest Number of Bank MergersPrint PDF
Nutter announced today that the firm’s Banking and Financial Services practice group has closed or advised on eight bank mergers in 2015 - the largest number of bank mergers it has advised on in a single year. This news comes following the announcement by Nutter’s client the Bank of New Hampshire and its parent BNH Financial, a mutual holding company, of their pending acquisition of Community Guaranty Corporation and its wholly-owned subsidiary Community Guaranty Savings Bank.
According to the terms of the transaction, BNH Financial will pay $12.9 million in cash for all outstanding shares of Community Guaranty Corporation. The transaction is subject to the approval of regulators and Community Guaranty shareholders and is expected to close in May of 2016. After the merger, the combined entity will have approximately $1.4 billion in assets and there will be 23 Bank of New Hampshire branch offices throughout New Hampshire. The Nutter team advising BNH Financial and Bank of New Hampshire is led by partner Michael Krebs, co-chair of the Banking and Financial Services practice group, as well as Crescent Chasteen, Wendy Fiscus, Matthew Hanaghan, and Thomas Powers.
Additional banks represented by Nutter in merger transactions closed or announced in 2015 include:
- Adams Community Bank in its acquisition of Lenox National Bank
- North Shore Bank in its merger with Merrimac Savings Bank
- Fidelity Bank in its merger with Barre Savings Bank
- SpencerBANK in its affiliation with Southbridge Savings Bank through a merger of their mutual holding companies
- Easthampton Savings Bank in its affiliation with Hometown Bank through a merger of their mutual holding companies
- Granite Savings Bank in its merger with Cape Ann Savings Bank, and
- Greenfield Cooperative Bank in its merger with Northampton Cooperative Bank
Other members of Nutter’s bank merger team are Kenneth Ehrlich, co-chair of the Banking and Financial Services practice group, Adam Ghander and Michael Mooney.
Nutter is a top Boston-based law firm providing high level legal counsel to clients who range from well-established companies and institutions to early stage entrepreneurs to foundations and families. Nutter’s Banking and Financial Services practice group is ranked among the top banking practices in the nation in Chambers USA and the U.S. News & World Report “Best Law Firms” survey. Nutter was co-founded by Louis D. Brandeis and has been in continuous practice for 136 years.