Nutter Represents Fidelity Bank in Pending Combination with Cape Cod 5 Under One Holding CompanyPrint PDF
Nutter is serving as legal counsel to Fidelity Bank in connection with its agreement with Cape Cod 5 to merge their respective mutual holding companies under one multi-bank holding company, Mutual Bancorp, subject to regulatory approval. The deal team is being led by Matthew Hanaghan, and includes Michael Krebs on corporate matters and Michael Mooney, Melissa Sampson McMorrow, and Tracy Vitols on tax and executive compensation matters.
Both banks will continue to operate independently as two separate financial institutions maintaining their respective names and brands, while continuing their missions and service to their clients and communities. This mutually beneficial partnership of two financially strong and secure institutions under a multi-bank holding company structure will enhance the capabilities of each organization. It will also allow for collaboration, shared services, and pooled resources between the banks to better meet the needs of their clients in an evolving industry landscape.
Cape Cod 5 holds over $5.5 billion in assets with 26 locations across the Cape, Islands, and in Southeastern Massachusetts, and Fidelity Bank holds $1.5 billion in assets with 13 Banking Centers throughout Eastern and Central MA. Once finalized, Mutual Bancorp will have combined assets of more than $7.0 billion and will oversee and govern the strategic operations of both Fidelity Bank and Cape Cod 5. Read more about the transaction.
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