January 8, 2024

On January 1, 2024, 1831 Bancorp, MHC and 1831 Bancorp, Inc., Dedham, Massachusetts, the holding companies for Dedham Institution for Savings (“Dedham Savings”), completed its merger of equals transaction with South Shore Bancorp, MHC and South Shore Bancorp, Inc., South Weymouth, Massachusetts, the holding companies for South Shore Bank. Following the merger, Dedham Savings and South Shore Bank will remain separate savings banks in the “multi-bank mutual holding company” structure.

The transaction expanded the combined company’s market presence in Massachusetts, bringing consolidated assets to $4.3 billion with 23 branch locations.

Luse Gorman served as legal counsel to 1831 Bancorp, MHC, 1831 Bancorp, Inc., and Dedham Savings in the transaction. The Luse Gorman team consisted of John Gorman, Lawrence Spaccasi, Kent Krudys, Max Seltzer, and Babette Schwartz.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and 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.