Genesis Financial Partners is trying a new tactic with its latest thrift target - conciliation.

In correspondence, the aggressive California hedge fund, which has been pressuring three other Northeast thrifts to beef up their performance or sell, is lauding the cost-cutting efforts of Lawrence Savings Bank in Massachusetts. As it did with the other thrifts, Genesis, a significant shareholder in Lawrence Savings, urged that it make further revenue- enhancing moves, but it did not suggest that the institution sell.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.