Bristol County Savings Bank Completes Acquisition Of Freedom National Bank

TAUNTON, Mass., Aug. 4, 2020 /PRNewswire/ -- Bristol County Savings Bank, a Massachusetts chartered savings bank with headquarters in Taunton, Massachusetts, is pleased to share the exciting news that Freedom National Bank, based in Greenville, Rhode Island, has officially joined the Bristol County Savings Bank team, following the finalization of the acquisition on July 31, 2020.  We believe our combined teams will create an even better banking experience for our customers. Freedom National Bank will be operating as Freedom Bank, a Division of Bristol County Savings Bank, until September 28th, when the Freedom Bank accounts merge into Bristol County Savings Bank. 

Patrick Murray, President and Chief Executive Officer of Bristol County Savings Bank, stated, "We are very excited to finalize this acquisition and welcome Anthony Botelho, the Freedom team and Freedom customers into the Bristol County Savings Bank family. We look forward to serving the customers of Freedom National Bank and deepening our ties to the Rhode Island market."

Griffin Financial Group LLC acted as financial advisor to Bristol County Savings Bank and Janney Montgomery Scott LLC acted as financial advisor to Freedom National Bank. Luse Gorman, PC served as legal counsel to Bristol County Savings Bank and Hinckley, Allen & Snyder LLP served as legal counsel to Freedom National Bank.

Bristol County Savings Bank, a state-chartered savings bank and the wholly-owned subsidiary of Beacon Bancorp, is a full-service banking institution with approximately $2.8 billion in assets following the acquisition.  Founded in 1846, Bristol County Savings Bank has expanded its branch network to 18 full-service offices including the two acquired from Freedom National Bank. The branches are located in Attleboro, Dartmouth, East Freetown, Fall River, Franklin, New Bedford, North Attleboro, Raynham, Rehoboth and Taunton, Massachusetts, and Cumberland, Greenville and Pawtucket, Rhode Island as well as a Loan center in Warwick, Rhode Island.  The Bank also operates limited service educational branches at Taunton and Attleboro High Schools.  In addition to traditional banking services, Bristol County Savings Bank offers wealth management services through its affiliate Bristol Wealth Group, as well as insurance services through its affiliate FBinsure, one of the region's largest property and casualty insurance agencies.  For more information on Bristol County Savings Bank, visit www.bristolcountysavings.com.

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SOURCE Bristol County Savings Bank