Credit Services & Lending M&A » By The Online Investor Staff, updated Mon., Jul. 4, 10:19 AM
Recent mergers and acquisitions in the Credit Services & Lending M&A category.
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Slide #42. Lake Sunapee Bank — Charter Trust
Acquirer:
Lake Sunapee Bank (NHTB)
Acquiree:
Charter Trust
Details:
Lake Sunapee Bank, fsb, a subsidiary of New Hampshire Thrift Bancshares (NASDAQ: NHTB), has completed the previously announced acquisition of Charter Trust Company ("Charter Trust"). Charter Trust was formed in 1984 as a New Hampshire-chartered non-depository trust company and is regulated by the State of New Hampshire Banking Department. Lake Sunapee Bank was one of the six original owners of Charter Trust and now, as a result of this acquisition, is the sole owner of Charter Trust.
New Hampshire Thrift Bancshares is a savings and loan holding company. Co.'s market area is concentrated in the counties of Cheshire, Hillsborough, Grafton, Merrimack and Sullivan in central and western New Hampshire and the counties of Rutland and Windsor in Vermont. Co. provides real estate loans, real estate construction loans, consumer loans, commercial loans, and municipal loans. Co. provides a range of deposit accounts with a range of interest rates and terms. Co.'s deposits consist of business checking, money market accounts, savings, Negotiable Order of Withdrawal and certificate accounts. As of Dec 31 2013, Co. had total assets of $1.42 billion and total deposits of $1.09 billion.
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