Hyannis, Mass.-based Mutual Bancorp is acquiring Raynham, Mass.-based Bluestone Bank. .Expected to close in the third quarter of 2026, the deal will establish an $8.6 billion mutual bank, the largest of its kind in New England and third largest in the country. Mutual Bancorp is the parent company of Cape Cod 5 and Fidelity Bank, with $7 billion in combined assets. Bluestone Bank has $1.6 billion in assets and serves customers in New Hampshire, Rhode Island and Massachusetts. As part of the transition, Bluestone Bank President and CEO Meg McIsaac will become co-president and vice chair of the board of trustees of Mutual Bancorp. Two Bluestone board members will also join the Mutual Bancorp Board. “Our teams have worked together to build a thoughtful structure that allows our banks to benefit from shared strength and resources while maintaining their deep local roots,” said Mutual Bancorp Chair & CEO Matt Burke. “Welcoming Bluestone into our family of banks reinforces that vision and positions all of our banks for continued growth, innovation and long-term success.” Minneapolis-based Piper Sandler & Co. served as financial advisor on the transaction. Boston-based Goodwin Proctor was legal counsel to Mutual Bancorp, while Pittsburgh-based K&L Gates was legal counsel to Bluestone Bank.
