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Nutter Advises Coastal Heritage Bank in Pending Merger with Equitable Bank

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08.22.2018 | Press Release

Boston, MA – Nutter is representing South Shore Mutual Holding Company, the mutual holding company for Coastal Heritage Bank, a $517.1 million-asset community bank headquartered in Weymouth, in its pending merger with Equitable Bancorp, MHC, the mutual holding company for Equitable Bank, a $332.9 million asset community bank headquartered in East Weymouth. Ken Ehrlich, a partner and co-leader of Nutter’s Banking and Financial Services group, led the legal team, which included Matt Hanaghan, Of Counsel in the firm’s Banking and Financial Services group.

The definitive merger agreement was unanimously approved by the directors of each institution. Under the terms of the agreement, Equitable MHC and South Shore MHC will merge under the “Equitable Bancorp, MHC” name and immediately thereafter Equitable and Coastal will merge under the “Coastal Heritage Bank” name. The merged bank will be headquartered in Weymouth.

The transaction is expected to close in the first quarter of 2019, subject to satisfaction of customary closing conditions, including the receipt of regulatory approvals and approval by the respective corporators of Equitable MHC and South Shore MHC. 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. 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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About Nutter

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. 

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