Abington Bank in Massachusetts is planning to merge with Holbrook Co-operative Bank in Massachusetts.
The $135 million-asset Abington and the $105 million-asset Holbrook expect to complete the merger next year. Abington Bank will be the surviving entity.
"The combined organization will result in greater efficiencies through the consolidation of many back-office functions, including risk management, compliance, finance, audit, IT, security and human resources," Andrew Raczka, Abington's president and chief executive, said in a press release. "Our larger size will better enable us to provide the products and services our customers expect from their community bank."
Luse Gorman advised Abington, while K&L Gates advised Holbrook.