Framingham Co-Operative and Natick Federal Savings Banks to Merge
The combined bank will consist of three full-service banking offices, two located in Framingham and one in Natick, with an administration center in Framingham. No jobs will be eliminated as a result of the merger, the banks said in a joint statement.
Framingham Co-operative Bank and Natick Federal Savings Bank have agreed to merge and form one unified mutual bank. The combined bank will consist of three full-service banking offices, two located in Framingham and one in Natick, with an administration center in Framingham. No jobs will be eliminated as a result of the merger, the banks said in a joint statement. The merger is subject to approval by regulatory agencies and is expected to be completed during the third quarter. "Increasing regulatory and operational expenses make it very difficult for the small community bank to thrive," said Brian K. Peoples, president and chief executive officer of Natick Federal Savings Bank. "The consolidation will maintain our strength as a well-…
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