Legacy Opens Haydenville Office09:14AM / Tuesday, March 17, 2009
PITTSFIELD, Mass. - Legacy Bancorp, Inc. (the “Company”) (NASDAQ:LEGC), the holding company for Legacy Banks (the “Bank” or “Legacy”) announced today that the Bank completed its acquisition of the full-service branch office of The Bank of Western Massachusetts, a division of People’s United Bank (“People’s United”) located in Haydenville, Massachusetts (the “Haydenville Office”) on March 13, 2009.
Pursuant to the terms of the Purchase and Assumption Agreement dated as of December 15, 2008 between the Bank and People’s United, the Bank purchased real property totaling approximately $409,000 and assumed deposit liabilities totaling approximately $9,800,000. The Bank paid a deposit premium equal to four percent (4%), or approximately $392,000. The Bank has retained all employees of the Haydenville Office.
J. Williar Dunlaevy, Chairman and Chief Executive Officer, commented, “We are thrilled to have entered the Pioneer Valley. We look forward to welcoming our new employees and customers of the Haydenville Office to the Legacy family.”
“We are grateful to everyone at Legacy and People’s United for their tireless work and the professional manner in which they executed this acquisition,” Mr. Dunlaevy stated. “We look forward to expanding our presence and relationships in this market and to continuing the Legacy tradition of offering our customers innovative and convenient banking products, services and solutions.”
Legacy Banks is headquartered in Pittsfield, Massachusetts. It employs 197 people and has nineteen offices throughout Berkshire and Hampshire County, Massachusetts and eastern New York. Legacy offers Personal Banking, Mortgage Lending, Commercial Services, Insurance, Investments, Portfolio Management, Credit and Debit Card products, and Online Services. |
