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Nutter Represents SSB Community Bancorp in Pending Merger of Holding Companies With PeoplesBancorp
Print PDFNutter is serving as legal counsel to SSB Community Bancorp, MHC, the holding company for Cornerstone Bank, in connection with its agreement to combine holding companies with PeoplesBancorp, MHC, the holding company for PeoplesBank. While the merger agreement will unify the holding companies, both banks will continue operating under separate names and brands for the foreseeable future. The Nutter team is being led by Matthew Hanaghan and includes Michael Krebs, Tracy Vitols, Erin Whitney Cicchetti, Kate Henry, and Tim Rennie.
After the completion of the merger, the new consolidated holding company for both banks will be PeoplesBancorp, MHC and have approximately $6 billion in assets. Both institutions will benefit from the combined financial strength of these community banks coming together to create one of the largest mutual multi-bank holding companies in the Northeast. PeoplesBank, serving western Massachusetts, and Cornerstone Bank, serving central Massachusetts, will each continue their normal operations with no disruption to customers. Closing is anticipated in the first quarter of 2025, subject to regulatory approval. Read more about the transaction.
Nutter’s Banking and Financial Services attorneys serve as corporate and regulatory counsel to banks, savings institutions, and other financial institutions and address a wide range of banking clients’ needs, including new bank formations, mergers and acquisitions, holding company formations, conversions, interstate expansion, the introduction of new products and services, including securities, insurance and trust services, and electronic banking.
About Nutter
Nutter is a Boston-based law firm that provides legal counsel to industry-leading companies, entrepreneurs, institutions, foundations, and families, across the country and around the world. The firm’s corporate, 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.
