Nutter Represents North Shore Bank in Pending Merger with Beverly BankPrint PDF
Boston – Nutter is advising North Shore Bank in its pending merger with Beverly Bank. Under the terms of the definitive merger agreement, Beverly Financial and Beverly Bank will merge with and into North Shore Bancorp and North Shore Bank respectively. The Nutter deal team was led by Matt Hanaghan, of counsel in Nutter’s Banking and Financial Services group, and included Ken Ehrlich, Mike Mooney, Crescent Moran Chasteen, and Blake Tyler.
The merger of these independent, state chartered mutual banks has been approved by the boards of directors of both organizations and will be completed pending necessary approvals. As North Shore Bank, the combined institution will continue its mutual and co-operative bank status. Upon completion, North Shore Bank will grow to $1.4 billion in assets and will operate out of 18 full-service locations throughout Essex County and southern New Hampshire. The merger is expected to be completed during the third quarter of 2019. Please click for more information on the transaction.
Nutter’s Banking and Financial Services group is ranked by Chambers and Partners as among the top banking practices in the nation. The firm’s attorneys regularly serve as corporate and regulatory counsel to banks, savings institutions, and other financial institutions. In the banking sector, Nutter addresses a wide range of client needs, including mergers and acquisitions, offerings of equity and debt securities, holding company formations, mutual to stock conversions, and the introduction of new products and services, including securities, insurance and trust services, and financial technology (fintech).
# # #
Nutter is a Boston-based law firm that provides legal counsel to industry-leading companies, early stage entrepreneurs, institutions, foundations, and families, across the country and around the world. The firm’s lawyers are known for their client-centric approach and extensive experience in business and finance, intellectual property, litigation, real estate and land use, labor and employment, tax, and trusts and estates. Co-founded in 1879 by Louis D. Brandeis, who later became a renowned justice of the U.S. Supreme Court, Nutter is dedicated to helping companies prosper in today’s competitive business environment. For more information, please visit www.nutter.com and follow us on LinkedIn.