On May 20, 2026, Ion Bank, Naugatuck, Connecticut, a subsidiary of Ion Financial, MHC, Inc., entered into a merger agreement pursuant to which The Cooperative Bank, Roslindale, Massachusetts, will merge into Ion Bank, with Ion Bank as the surviving entity.

Luse Gorman served as legal counsel to Ion Bank in the transaction. The Luse Gorman team consisted of Scott Brown, Brendan Saxon and Agata Troy.

Ion Bank has 20 branch locations in Connecticut and 12 branch offices in New Jersey and approximately $2.7 billion in assets.

The Cooperative Bank has four branches in the greater Boston area and approximately $540 million in assets.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and on more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.