Mutual Bancorp in Hyannis, Mass., and Bluestone Bank in Raynham, Mass., are merging.
Mutual Bancorp, the $7 billion-asset parent of Cape Cod 5 and Fidelity Bank, said in a press release that it expects to complete the merger with the $1.6 billion-asset Bluestone in the third quarter of 2026.
Mutual Bancorp will become the largest mutual in New England and the third largest in the country.
“Our teams have worked together to build a thoughtful structure that allows our banks to benefit from shared strength and resources while maintaining their deep local roots,” Matt Burke, Mutual Bancorp’s chairman and CEO, said in the release.
“Welcoming Bluestone into our family of banks reinforces that vision and positions all of our banks for continued growth, innovation and long-term success,” Burke added. “Together, we are stronger and better equipped to serve our clients and communities, and to continue to invest in the growth of our colleagues.”
Meg McIsaac, Bluestone’s president and CEO, will become co-president and vice chair of Mutual Bancorp. Two other Bluestone directors will join Mutual Bancorp’s board.
Piper Sandler and Goodwin Proctor advised Mutual Bancorp. K&L Gates advised Bluestone.