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Nutter Represents Centreville Bank in Pending Acquisition of PB Bancorp, Inc. and Putnam Bank

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11.25.2019 | Press Release

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.

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).

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 business and finance, intellectual property, litigation, real estate and land use, labor and employment, tax, and trusts and estates practices are national in scope. The firm was co-founded in 1879 by former U.S. Supreme Court Justice Louis D. Brandeis, before his appointment to the Court. For more information, please visit www.nutter.com and follow the firm on LinkedIn.

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