One of New Hampshire’s Seacoast Banks Is Merging With a Massachusetts Bank

First Seacoast Bank, founded in 1890, is now merging with Cambridge Savings Bank that has been in business for 192 years, according to their website.  That's a lot of experience for these financial institutions.

First Seacoast Bank, Headquartered in Dover, NH, Has Seen Much Growth

Here's what the Chief Executive Officer of First Seacoast Bank, James R. Brannen, said about the merger.

Over the years we have witnessed exceptional growth in the greater Seacoast markets that we serve.  ... (This merger) will allow us to move forward and remain true to the same values that have supported our success for the last 135 years.

 

When Will the Merger Go Forward? 

According to the Press Release, they have an expected closing sometime in the third quarter of this year.  ((July-September)

FSB Helped to Navigate the Pandemic for Local NH Business

First Seacoast Bank was able to navigate the challenge that many businesses had during the pandemic, including applying for the Payroll Protection Program that the U.S. Government rolled out in 2020.  Some employees literally worked all night to get those applications in for the local, very real, businesses that needed them.

According to a YouTube video, First Seacoast Bank processed over 300 PPP applications for local businesses.

From my experience with bank mergers, there is very little change for the customer.  When there is change, it's usually something that will make things more convenient.  Sometimes, however, it's the people who are resistant.  I remember having to be convinced to use the outside depository for my check deposits, but it saved a lot of time waiting in line inside the bank.

Do you bank at FSB? Let us know what your experience is when this merger happens.