Merger May Be On Horizon For Dedham Savings


Merger May Be On Horizon For Dedham Savings

Dedham Institution for Savings has notified state regulators that it intends to reorganize into a mutual holding company, signaling that a potential merger may not be far down the road.

The move will result in 1831 Bancorp MHC with a mid-tier holding company, 1831 Bancorp Inc., in a multi-step transaction.

The move also means the company could do a partial stock issuance, although this was not explicitly stated in the notice to the Massachusetts Division of Banks, so there is no immediate plan by the company to take such action.

Dedham Savings is a $1.4 billion asset bank with nine branches, three of which are in Dedham.

The bank, along with Swansea-based BayCoast Bank, also jointly owns Plymouth-based Plimoth Investment Advisors, an investment management firm.

Dedham Savings CEO Peter Brown did not return calls seeking comment.



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Merger May Be On Horizon For Dedham Savings

by Bram Berkowitz time to read: 1 min
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