August 1, 2022

On July 27, 2022, Everett Co-operative Bank, Everett, Massachusetts, completed its conversion from the mutual form of organization to the stock form of organization.  Concurrently, ECB Bancorp, Inc., the newly formed holding company for Everett Co-operative Bank, completed its initial public offering by selling 8,915,247 shares of its common stock at $10.00 per share.  ECB Bancorp’s common stock is listed on the Nasdaq Capital Market under the trading symbol “ECBK.”

Luse Gorman served as legal counsel to ECB Bancorp and Everett in the transaction. The Luse Gorman team included Larry Spaccasi, Kent Krudys, Steven Lanter and Thomas Hutton.

ECB Bancorp has $782.0 million in assets and operates from its two offices in the greater Boston metropolitan area.

Since 2000, Luse Gorman has been the leading law firm in the United States in mutual holding company transactions and mutual-to-stock conversions, based on number of transactions. Click here to learn more about our capital markets and corporate finance services.