Nutter Represents Centreville Bank in Pending Acquisition of PB Bancorp, Inc. and Putnam BankPrint PDF
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. The Nutter deal team was led by Michael Krebs and Jason Cabral, and included Kate Henry, Blake Tyler, Michael Mooney, Christopher McLoon, Erin Whitney, Laura Marsell, Crescent Moran Chasteen, Matthew Gaughan, David Rubin, and Matthew Snell.
Founded in 1828 and headquartered in West Warwick, RI, Centreville Bank is a full-service mutual bank operating through seven branch locations in Coventry, Cranston, East Greenwich, Narragansett, North Kingstown, West Greenwich, and West Warwick, with total assets of $1.25 billion as of June 30, 2019.
PB Bancorp, Inc., headquartered in Putnam, CT, is the parent of Putnam Bank, a state-chartered stock savings bank founded in 1862. The Bank offers a wide range of financial services through its eight full-service offices. The parties anticipate the proposed transaction will close in the first or second quarter of 2020. Please click for more information about the transaction.
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