Androscoggin Bank in Lewiston, Maine, and Mascoma Bank in Lebanon, N.H., are planning to merge their holding companies.
The merger would result in the creation of ClearNorth Financial Mutual Holding Co. The banks will continue to operate under their own names, charters and boards.
Clay Adams, Mascoma’s president and CEO, will be CEO of the new holding company. Neil Kiely, Androscoggin Bank’s CEO, will serve as president. They will retain their roles at their banks.