Cambridge, Mass. – East Cambridge Savings Bank, a $1.6 billion in assets mutual bank based in Cambridge, Mass., today announced it has completed the acquisition of Woburn, Mass. based Patriot Community Bank, effective August 1, 2022. East Cambridge Savings Bank will continue to operate the former Patriot Community Bank location at 237 Lexington Street as its eleventh full-service banking center and the completion of the merger expands the Bank’s market footprint to Woburn.
“We are incredibly pleased to welcome Patriot Community Bank’s customers and employees to East Cambridge Savings Bank. As we complete this merger process, we look forward to becoming an integral member of the Woburn community by meeting the needs of area residents, community service organizations and local businesses,” said Gilda M. Nogueira, president and CEO of East Cambridge Savings Bank. “This merger could not have been successfully completed without the hard work and commitment of the many dedicated employees from both banks who have worked together to ensure for a smooth and seamless transition. Throughout the process, the customer was placed front and center on every decision. It has been a great partnership from the start.”
With the merger complete, East Cambridge Savings Bank is now actively working on integrating Patriot Community Bank customers to its core processing system. The Bank anticipates completing the systems conversion process in the fourth quarter of 2022 with little to no impact on customer’s banking transactions.
For more information and frequently asked questions and answers pertaining to the merger, please visit ecsb.com/welcomeaboard.
About East Cambridge Savings Bank
East Cambridge Savings Bank is a full-service mutually held bank that is committed to be the preferred banking partner in the communities it serves. Established in 1854, the Bank strives to provide an exceptional customer experience and generous support for the community. Headquartered in Cambridge, the Bank has locations in Arlington, Belmont, Cambridge, Chelsea, Malden, Medford, Somerville, Waltham, and Woburn as well as an educational training facility at Cambridge Rindge and Latin School. The Bank is a member of the Federal Deposit Insurance Corporation (FDIC), the Depositors Insurance Fund (DIF), and is an Equal Housing Lender.
CONTACT:
Leo Gayne
Assistant Vice President, Public and Community Relations Officer
(617) 551-2353
lgayne@ecsb.com