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Nutter Advises North Middlesex Savings Bank in Merger with Marlborough Savings Bank

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Nutter represents North Middlesex Savings Bank in its pending merger with Marlborough Savings Bank. The transaction will result in a larger mutual banking company headquartered in Marlborough MA. Ken Ehrlich, co-chair of Nutter’s Banking and Financial Services practice group, leads the deal team, which also includes Matt Hanaghan, Mike Mooney, Crescent Chasteen, Jim Hackett, and Joe Toomey.

The merger will combine two organizations with very similar cultures and core values and will allow the combined bank to offer enhanced benefits to the banks’ respective customers and communities such as increased lending capacity and a larger network of branches and ATMs. The combined bank will have assets of close to $1 billion and $95 million in equity and operate a network of 14 branches. The merger is expected to be completed in the fourth quarter of 2016, subject to the receipt of regulatory approvals and the approval of both parties’ Corporators. Please click to learn more.

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.

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