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North Shore Bank and Beverly Bank to Merge

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April 09, 2019
4/9/2019 PEABODY & BEVERLY, MA — North Shore Bank and Beverly Bank today announced plans to merge — creating an organization with more resources to better serve the people, businesses and communities north of Boston. Under the terms of the definitive merger agreement, Beverly Financial and Beverly Bank will merge with and into North Shore Bancorp and North Shore Bank respectively.

The merger of these strong, independent, state chartered mutual banks has been approved by the Boards of Directors of both organizations and will be completed pending necessary approvals.  Customer accounts will continue to be insured in full through the Federal Deposit Insurance Corporation (FDIC) and the Share Insurance Fund of Massachusetts (SIF). As North Shore Bank, the combined institution will continue its mutual and co-operative bank status.

North Shore President and CEO, Kevin M. Tierney, Sr., will lead the combined banks as Chief Executive Officer of North Shore Bank and its parent North Shore Bancorp. Beverly Bank President and CEO, Michael R. Wheeler, will assume the role of President and Chief Operating Officer.
Full details here

 
Contact:
Reena Scott, Assistant Vice President, Commercial Loan Officer
617-749-8688

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