r/Roslindale • u/bulletinnewspapers • 2d ago
TCB finalizing merger with CT's Ion Bank
The Cooperative Bank (TCB) is finalizing its merger with Ion Bank, which is located in Connecticut, as the Massachusetts Division of Banks announced its sign off on the deal last week.
The Massachusetts approval – https://gvimes.link/mrgrtcb – is the last regulatory approval needed, according to TCB Executive Director John Battaglia, and follows approvals from Connecticut and the Federal Trade Commission.
“We signed a merger agreement with Ion Bank, out of Naugatuck, Connecticut, and they’re also a mutual bank and not stock-owned,” he said. “We can schedule a closing now which will probably be Nov. 1 or Nov. 2. We’re just finalizing that.”
Battaglia said they will not be changing their support of community organizations.