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Michael Krebs, Nutter McClennen & Fish LLP Photo

Michael K. Krebs

Partner; Member of Firm's Executive Committee / Boston

Overview

Michael K. Krebs is a member of Nutter's Executive Committee and co-chair of the Banking and Finance practice group. Michael's areas of expertise as a corporate attorney include complex mergers and acquisitions, securities law matters, corporate finance and corporate governance. He represents issuers in a broad range of capital market transactions, including public and private offerings of equity and debt securities. Michael also advises companies and individuals on the design of executive employment agreements and incentive compensation arrangements.

Michael serves as corporate and regulatory counsel to a variety of banks, savings institutions, insurance companies, and other financial institutions. With extensive financial services regulation experience, he has represented clients before various federal and state regulatory agencies, including the Federal Reserve, OCC, FDIC, the Massachusetts Division of Banks, the New Hampshire Banking Department, and the California Department of Financial Institutions.

Michael has been a lecturer at the Boston University School of Law, teaching federal securities law in the J.D. program in the spring of 2014 and, previously, for many years as part of various LL.M. programs.

Michael’s M&A experience includes the representation of:

  • Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC), the holding company of Eastern Bank, in its acquisition of Century Bancorp, Inc. (Nasdaq: CNBKA) and its subsidiary Century Bank and Trust Company for $642 million in cash.
  • Centreville Bank, a mutual savings bank headquartered in Rhode Island, in its acquisition of Connecticut-based Putnam Bank and its publicly traded holding company PB Bancorp, a transaction valued at approximately $115.5 million
  • Shawmut Corporation, a developer of high-performance composites, in its joint venture with the automotive headliner and specialty industrial fabrics business of Glen Raven Technical Fabrics LLC, a global provider of innovative technical fabric solutions
  • Centrix Bank, a commercial bank headquartered in New Hampshire, in its acquisition by Eastern Bank, a transaction valued at approximately $125 million
  • Meetinghouse Bancorp, Inc., the holding company for Meetinghouse Bank, in its merger with Meridian Bancorp, Inc., the holding company for East Boston Savings Bank, a transaction valued at approximately $17.8 million
  • A mutual savings bank located in Massachusetts in its acquisition of a national bank, a transaction valued at approximately $28 million
  • A community bank headquartered in Massachusetts in its acquisition of a network of branches on Nantucket
  • A NASDAQ-listed publicly traded community bank based in western Massachusetts, in its merger with another publicly traded bank also headquartered in western Massachusetts, a transaction valued at approximately $108 million
  • A NASDAQ-listed community bank located in eastern Massachusetts, in its $96 million acquisition by one of the largest banks headquartered in New England
  • One of the largest community banks in Massachusetts, in both its $163 million acquisition of a publicly traded bank based in Boston, Massachusetts and its earlier $170 million acquisition of a publicly traded bank in eastern Massachusetts
  • A publicly traded mutual holding company located in eastern Massachusetts, in its acquisition by another mutual savings bank headquartered in Massachusetts
  • One of the largest community banks in Massachusetts, in its $105 million acquisition of a publicly traded bank located in southeastern Massachusetts for a combination of stock and cash
  • A New York Stock Exchange-listed insurance holding company, in its $2.2 billion acquisition by a holding company headquartered in Europe
  • A NASDAQ-listed bank holding company, in its $180 million acquisition by a publicly-traded regional banking company
  • A California-based bank holding company in its acquisitions of five banks in transactions valued at a total of approximately $150 million
  • A NASDAQ-listed company in its simultaneous acquisitions of two businesses from its majority stockholder in a transaction having a combined value of $1.6 billion, and in that client’s subsequent acquisition of a company valued at approximately $260 million
  • A New York Stock Exchange-listed specialty chemical company, in its $300 million acquisition of another chemical company
  • A NASDAQ-listed utility company headquartered in New Hampshire, in its agreement to be acquired by a New Hampshire municipality
  • A New York Stock Exchange-listed insurance holding company, in its $80 million acquisition of a multi-state insurance company and its related joint venture with a strategic partner

Michael's corporate finance experience includes:

  • A $1.8 billion initial public offering by Eastern Bankshares, Inc. (NASDAQ Global Select Market: EBC), the holding company of Eastern Bank
  • A $278 million initial public offering by a community bank headquartered in Massachusetts, representing as selling agent a nationally recognized investment banking firm specializing in the financial services sector
  • A $102 million underwritten public offering by a New England-based, NASDAQ-listed banking company, representing as underwriter a nationally recognized investment banking firm specializing in the financial services sector
  • A $60 million underwritten public offering by a New England-based, NASDAQ-listed banking company, representing as underwriter a nationally recognized investment banking firm specializing in the financial services sector
  • An $11 million underwritten public offering by a New England-based, NASDAQ-listed banking company, representing as underwriter a nationally recognized investment banking firm specializing in the financial services sector
  • A $38 million private placement of equity interests in a bank holding company organized as an LLC, representing the placement agent, a nationally recognized investment banking firm specializing in the financial services sector
  • A $300 million public offering of senior debt by a New York Stock Exchange–listed insurance holding company
  • A $20 million initial public offering by a bank holding company
  • An $80 million private placement of common and preferred stock and trust originated by Subordinated Capital Income Securities to fund an acquisition by a bank holding company
  • A $125 million initial public offering by an insurance company
  • A $19 million public offering of common stock by a New Hampshire utility company
  • A $49 million public offering of tax-exempt bonds by a New Hampshire utility through the Business Finance Authority of the State of New Hampshire
  • A $30 million leveraged self-tender by a manufacturing company
     

Experience

Experience

  • Eastern Bankshares, Inc.

    Nutter served as legal counsel to Eastern Bank Corporation, the mutual holding company of Eastern Bank, in its conversion to a fully public stock holding company known as Eastern Bankshares, Inc. (NASDAQ Global Select Market: EBC).

  • Sandler O’Neill & Partners, L.P.

    Nutter served as counsel to Sandler O’Neill & Partners, L.P., the marketing agent for Provident Bancorp, Inc., in connection with its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering.

  • Centreville Bank

    Nutter served as sole outside legal counsel to Centreville Bank in connection with its agreement to acquire Putnam Bank and its holding company, PB Bancorp, Inc., in a transaction valued at approximately $115.5 million.

  • Leader Bank, N.A. and Leader Bancorp, Inc.

    Nutter served as sole outside legal counsel to Leader Bank, N.A. and its parent company Leader Bancorp, Inc. in connection with the recent spin-out of ZSuite Technologies.

  • Fisher International, Inc.

    Nutter served as sole legal advisor to Fisher International, Inc., a firm supporting the pulp and paper industry with business intelligence and strategy consulting services, in its acquisition by Battery Ventures, a global technology-focused investment firm.

  • Sandler O’Neill & Partners, L.P. and U.S. Bancorp Investments, Inc.

    Nutter represented Sandler O’Neill & Partners, L.P. and U.S. Bancorp Investments, Inc., the placement agents for Independent Bank Corp. (NASDAQ: INDB), the bank holding company of Rockland Trust Company, in connection with Independent’s private placement of $50 million of fixed-to-floating rate subordinated notes due 2029.

  • PeoplesBancorp, MHC

    Nutter represented PeoplesBancorp, MHC, the holding company for PeoplesBank, in the private placement of $40 million in fixed-to-floating rate subordinated notes due 2028.

  • Shawmut Corporation

    Nutter represented Shawmut Corporation, a developer of high-performance composites, in its joint venture with the automotive headliner and specialty industrial fabrics business of Glen Raven Technical Fabrics LLC, a global provider of innovative technical fabric solutions.

  • Hometown Financial Group Inc.

    Nutter represented Hometown Financial Group, Inc., the bank holding company of bankESB (Easthampton, MA) and bankHometown (Oxford, MA), in connection with its acquisition of Pilgrim Bank, a Massachusetts-chartered co-operative bank headquartered in Cohasset, MA, and its bank holding company, Pilgrim Bancshares, Inc. (OTCMKTS: PLRM).

  • PeoplesBancorp, MHC

    Nutter represented PeoplesBancorp, MHC, a Massachusetts mutual holding company, and the bank holding company of PeoplesBank, a Massachusetts-chartered savings bank, both of Holyoke, Massachusetts, in connection with its acquisition of First Suffield Financial, Inc., a Connecticut corporation and the bank holding company of The First National Bank of Suffield, a national bank, both of Suffield, Connecticut. The total value of the transaction was approximately $60 million.

  • MNB Bancorp

    Nutter advised MNB Bancorp, the parent company of The Milford National Bank and Trust Company, a national bank, both of Milford, Massachusetts, in its acquisition by Independent Bank Corp. (NASDAQ Global Select Market: INDB). Independent is the parent company of Rockland Trust Company. The total value of the transaction was approximately $54 million.

  • Private real estate fund

    Nutter represented a private real estate fund in the formation of a “REIT feeder structure,” consisting of a domestically controlled private real estate investment trust that is a subsidiary of a newly-formed Delaware limited partnership. The structure is intended to accommodate investments by qualified purchasers (as defined in the Investment Company Act of 1940).

  • First Commons Bank, N.A.

    Nutter advised First Commons Bank, N.A., in its merger with Brookline Bank, a wholly-owned subsidiary of Brookline Bancorp, Inc. (NASDAQ: BRKL). The total value of the transaction was approximately $55.958 million. 

  • Commerce Bancshares Corp.

    Nutter represented Commerce Bancshares Corp. and its subsidiary, Commerce Bank & Trust Company, in its merger with Berkshire Hills Bancorp. Inc. (NYSE: BHLB), in an all-stock transaction valued at $209 million.

  • Meetinghouse Bancorp, Inc.

    Nutter represented Meetinghouse Bancorp, Inc. (OTC Pink: MTGB), the holding company for Meetinghouse Bank, in its merger with Meridian Bancorp, Inc. (NASDAQ: EBSB), the holding company for East Boston Savings Bank, in a transaction valued at approximately $17.8 million.

  • North Shore Bank

    Nutter represented North Shore Bank in its merger with Merrimac Savings Bank.

  • Admune Therapeutics LLC

    Nutter advised Admune Therapeutics LLC in its sale to Novartis Institutes for BioMedical Research.

  • Connecticut River Bancorp, Inc.

    Nutter represented Connecticut River Bancorp, Inc. (OTCQB: CORB) and its subsidiary, Connecticut River Bank, N.A., a national bank, both of Charlestown, NH, in its merger with Mascoma Mutual Financial Services Corporation and its subsidiary, Mascoma Savings Bank, in an all-cash transaction valued at $26.7 million.

  • Bank of New Hampshire

    Nutter advised Bank of New Hampshire and its parent BNH Financial, a mutual holding company, in their acquisition of Community Guaranty Corporation and its wholly-owned subsidiary Community Guaranty Savings Bank, a New Hampshire guaranty savings bank. The combined entity has approximately $1.4 billion in assets and 23 branch offices throughout New Hampshire.

  • Centrix Bank & Trust

    Nutter advised Centrix Bank & Trust, based in Bedford, NH, in connection with its acquisition by Eastern Bank Corporation in an all-cash transaction valued at approximately $134 million.

  • BankFive, MHC

    Nutter represented BankFive, MHC , the parent company of Fall River-based BankFive, in the private placement of $25 million in fixed-to-floating rate subordinated notes due 2031.

  • Eastern Bankshares, Inc.

    Nutter served as legal counsel to Eastern Bankshares, Inc. (Nasdaq Global Select Market: EBC), the stock holding company for Eastern Bank, in connection with its acquisition of Century Bancorp, Inc. (Nasdaq: CNBKA), the stock holding company for Century Bank and Trust Company, in a transaction valued at approximately $642 million.

  • Eastern Bankshares, Inc.

    Nutter is serving as legal counsel to Eastern Bankshares, Inc. (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, in connection with its definitive merger agreement with Cambridge Bancorp (NASDAQ: CATC), the parent company of Cambridge Trust Company, pursuant to which Cambridge will merge with and into Eastern in an all-stock transaction valued at approximately $528 million. Simultaneously, Nutter is also representing Eastern Insurance Group, LLC, a wholly owned subsidiary of Eastern, in its definitive agreement to sell its insurance operations to Arthur J. Gallagher & Co. (NYSE: AJG) for approximately $510 million in cash.

  • Fidelity Bank

    Nutter is serving as legal counsel to Fidelity Bank in connection with its agreement with Cape Cod 5 to merge their respective mutual holding companies under one multi-bank holding company, Mutual Bancorp, subject to regulatory approval.

  • Nationally Recognized Investment Bank

    Nutter represented a nationally recognized investment bank acting as placement agent for a $20 million offering of subordinated debt in July 2021 by a bank holding company in New England.

  • North Shore Bank

    Nutter is serving as legal counsel to North Shore Bancorp, the holding company for North Shore Bank, in connection with its agreement to combine with Hometown Financial Group, Inc., the holding company for bankESB, bankHometown, and Abington Bank.

News & Insights

News

Publications

Honors

Honors

  • Chambers USA, Leading U.S. Banking and Finance: Corporate & Regulatory Attorney,
    2005-2007 and 2011-2023
  • The Best Lawyers in America, 2017-2024
  • Massachusetts Super Lawyers, 2006-2010, 2014-2018, 2021-2023
  • Super Lawyers Business Edition, 2011 and 2014-2015
  • Super Lawyers, Corporate Counsel Edition, 2009

Education & Admissions

Education

Boston University School of Law, J.D., cum laude
University of Pennsylvania, B.A., cum laude

Admissions

  • Massachusetts
  • New Hampshire

Notable Experience

Mike represented Eastern Bankshares, Inc. (NASDAQ Global Select Market: EBC), the holding company of Eastern Bank, in EBC’s $1.8 billion initial public offering, the largest full conversion of a mutual bank in U.S. banking history.

Mike has represented clients before various federal and state regulatory agencies, including the Federal Reserve, OCC, FDIC, the Massachusetts Division of Banks, the New Hampshire Banking Department, and the California Department of Financial Institutions.

Noteworthy

  • Chambers USA, Leading U.S. Banking and Finance: Corporate & Regulatory Attorney, 2005-2007, 2011-2023
  • The Best Lawyers in America, 2017-2024
  • Massachusetts Super Lawyers, 2006-2010, 2014-2018, 2021-2023
  • Super Lawyers Business Edition, 2011 and 2014-2015
  • Super Lawyers, Corporate Counsel Edition, 2009
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