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Article: Bridgewater banks merging ; Agreement would create 10-branch bank network
- Article from:
- The Patriot Ledger Quincy, MA
- Article date:
- October 15, 2009
- Author:
CopyrightCopyright 2009 The Patriot Ledger Quincy, MA. Provided by ProQuest LLC. (Hide copyright information)
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Despite their similar-sounding names, Bridgewater Savings Bank
and East Bridgewater Savings Bank have long focused on separate
markets.
That's about to change now that the boards of both mutual banks
have reached an agreement to merge the two companies. The merger
agreement, which was signed last week and would take effect early
next year, would create a 10-branch network under the Bridgewater
Savings Bank name that stretches from the Route 24 corridor to the
Route 3 corridor.
The merger gives Raynham-based Bridgewater Savings a way to
expand easily into markets that are contiguous to its own territory
and to increase the size of business loans it can offer. The deal
also would provide a way ...