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Finance
Posted: January 12, 2018
Meridian Bancorp completes acquisition of Meetinghouse Bancorp
Boston, MA According to Meridian Bancorp, Inc., the holding company for East Boston Savings Bank, effective December 29, it has completed its acquisition of Meetinghouse Bancorp, Inc. Upon completion of the merger, each Meetinghouse stockholder became entitled to receive $26.00 in cash for each share of Meetinghouse common stock that they held at the effective time of the merger.
“We are excited to announce the completion of the Meetinghouse acquisition today. We believe that the acquisition will enable us to continue to grow our banking franchise in the Boston metropolitan area and expand our presence in the Dorchester and Roslindale markets,” said Richard Gavegnano, president and CEO of Meridian.
Piper Jaffray & Co. acted as financial advisor to Meridian, and Kilpatrick Townsend & Stockton LLP served as legal counsel to Meridian. Keefe, Bruyette & Woods, Inc. acted as financial advisor to Meetinghouse and Nutter McClennen & Fish LLP served as legal counsel to Meetinghouse.
Anthony Paciulli, president and CEO of Meetinghouse, said, “We are proud to be joining Meridian and East Boston Savings Bank, which has served the Boston market for generations with a similar culture and common commitment to local decision making, exceptional personal service and community support.”
Meridian Bancorp, Inc. is the holding company for East Boston Savings Bank. East Boston Savings Bank, a Massachusetts-chartered stock savings bank founded in 1848, operates 33 full-service locations in the greater Boston metropolitan area. East Boston Savings Bank offers a variety of deposit and loan products to individuals and businesses located in its primary market, which consists of Essex, Middlesex, Norfolk and Suffolk Counties, Mass.
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