Three More Massachusetts Savings Banks Forming MHCs

This August 22nd Banker & Tradesman article, Three Local Banks Have Mutual Goals, documents the trend of Massachusetts mutual banks forming mutual holding companies to assist them in "forming new business alliances, raising capital and diversifying business activity." The three banks named in the article are: Salem Five Cents Savings Bank, Florence Savings Bank, and Monson Savings Bank. Subscribers to Banker & Tradesman can read the full article here. Or download a reprint here.

Announcing Launch of Bank MHC blog

Kevin Handly of the Boston Office of Gallagher Callahan & Gartrell, P.C. launches Bank MHC blog to provide an accessway and focal point for information, developments and viewpoints regarding bank mutual holding companies throughout the United States.

The blog will provide a link to the Bank MHC Resource, a web page devoted to the compilation of reference documents, information and web links related to bank mutual holding companies.

In addition, the blog will provide current news and commentary about deals, legislation, regulations and regulatory actions involving or affecting mutual bank holding companies.

Initially, the blog will focus on mutual holding company developments in the New England states, reflecting the authors' Boston, Concord, and Augusta office locations. Over time, the blog's coverage will expand to cover developments in other states in which mutual bank holding companies operate.

Comments and contributions of articles and information sources are welcome, and may be directed to handly@gcglaw.com