The Financial Services team advised Reading Cooperative Bank on their plans to enter into a partnership with Wakefield Co-operative Bank, aiming at creating a stronger, more resilient financial institution dedicated to serving its customers and communities. The combined institution will have approximately $1.2 billion in assets, 14 full-service locations across 11 distinct communities, and will retain the name Reading Cooperative Bank.
Reading Cooperative Bank is a depositor-owned Massachusetts co-operative bank, founded in 1886. This community-centric North Shore financial service provider has branches in Andover, Burlington, Lawrence, Lynn, Nahant, North Reading, Reading, and Wilmington. They also operate teaching branches at Northeast Metro Tech in Wakefield (open to the public) and at Reading Memorial High School (students and staff only), as well as an online branch.
The deal team was led by Samantha Kirby and included Bill McCurdy, Eva Xu.
For more information on the deal, please read the press release.