The Bank Slate


PeoplesBancorp, SSB Community in Mass. to merge mutual holding companies

PeoplesBancorp in Holyoke, Mass., and SSB Community Bancorp in Spencer, Mass., have agreed to merge their mutual holding companies.

PeoplesBancorp is the MHC for the $4.2 billion-asset PeoplesBank, while SSB Community Bancorp is the parent of the $1.6 billion-asset Cornerstone Bank. The banks expect to operate independently, under separate names and brands “for the foreseeable future,” they said in a press release.

“Our focus is on the continued success of the bank and the best interests of our customers and communities,” PeoplesBank said in a statement on its website. “The decision to merge holding companies comes after much due diligence and dialogue.” 

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