East Cambridge Savings Bank Completes Acquisition
East Cambridge Savings Bank has completed its acquisition of Woburn-based Patriot Community Bank.
East Cambridge Savings Bank has completed its acquisition of Woburn-based Patriot Community Bank.
Critics of bank consolidation often say mergers harm consumers by limiting competition and reducing local lending. But smaller local banks involved in two recent deals say the moves are necessary for them and their customers to thrive.
East Cambridge Savings Bank has agreed to acquire Woburn-based Patriot Community Bank in a deal expected to result in a combined bank with more than $1.5 billion in assets.
Annette Hunt entered the banking world as a teller when she was 17 years old. Decades later, she was a senior vice president at the recently acquired Medford Cooperative Bank, wondering if it was time to leave the industry behind and try something different.