Reading Co-operative Bank in Reading, Mass., and Wakefield Co-operative Bank in Wakefield, Mass., are planning to merge.
The surviving bank will operate as Reading Co-operative and will be led by Julieann Thurlow, the $922 million-asset Reading Co-operative’s president and CEO. Jeffrey Worth, the $313 million-asset Wakefield Co-operative’s president and CEO, will serve as president.
“We want to assure customers that no branches will be closed as part of this transaction,” Thurlow said in a press release. “This partnership provides convenience and access connecting our original Reading branches in Middlesex County to our newer locations in Lynn and Nahant.”
The merger is expected to be completed in the second quarter.