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South Shore Bank and Braintree Cooperative Bank Announce Legal Close of Merger Agreement

South Shore Bank and Braintree Cooperative Bank announced regulatory and legal approval to merge operations under the South Shore Bank name. The merger will enable the combined bank to more effectively meet the needs of clients across the South Shore of Massachusetts. First announced in July, the transaction closed on October 31, 2017 and was commemorated by a ceremony at South Shore Bank headquarters.

The new entity brings together South Shore Bank’s 180-plus years of expertise and heritage to the markets it serves with Braintree Cooperative’s 128 years serving as the trusted financial institution for Braintree area residents. The combined institution’s resources and breadth of services will create one of the area’s leading mutual community banks.

Braintree Cooperative Bank clients will be converted to South Shore Bank clients in early 2018 and benefit from an extended network of branch locations and ATMs, along with an expanded offering of products and services. South Shore Bank clients will gain access to a strong team of bankers, solidifying the Bank as a leader in the Braintree market.

“Together, our banks have built a reputation for service, integrity and trust for generations,” said Jim Dunphy, President and CEO, South Shore Bank. “Our combined expertise, resources and offerings will set the standard for community banking in the South Shore and beyond.”

South Shore Bank President and CEO, James M. Dunphy, now serves as the bank’s CEO. Braintree Cooperative Bank’s President and CEO, Paul M. Pecci, is now President of the expanded company. Members of both banks’ management teams retain senior roles and all employees will continue to have jobs at the combined institution.

Both Braintree Cooperative Bank locations will remain open and transition to the South Shore Bank name when the client conversion happens in early 2018. The bank is committed to providing an ongoing culture of support, growth and success for all employees and its communities.

For more information on the merger and updates on the transition, please visit
www.togetherasonebank.com

 


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