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(AYER, MA, JULY 13, 2016) — North Middlesex Savings Bank and Marlborough Savings Bank today announced plans to merge and create a new, larger mutual savings bank to provide even greater service and convenience to customers. Centered on an unwavering commitment to hometown banking -- this mutually beneficial partnership will combine two organizations with very similar cultures and core values.  The merger will also allow the combined bank to offer enhanced benefits such as increased lending capacity, a larger network of branches and ATMs, and continue its legacy of being a responsible neighbor while delivering easy, hassle-free banking.

A name for the bank will be announced during the fourth quarter of 2016.  The combined bank will have assets of close to $1 billion and $95 million in equity and operate a network of 14 branches staffed by the same employees customers have banked with for years as no staff reductions will occur as a result of the merger.  Customers will continue to benefit from fully insured deposits through the Federal Deposit Insurance Corporation and the Deposit Insurance Fund. In addition, the integration enables greater investment in innovative banking products and new technology for anytime/anywhere banking.

“The two banks are vibrant and strong, but we will be stronger together. This new venture will let us provide customers with the best products, convenience and exceptional service from people they know and trust.  We are deeply committed to the principles of mutual savings banks, which are accountable to their customers and by joining forces, we are ensuring the longevity of hometown banks who are deeply rooted in their communities,” said Walter J. Dwyer, IV, President and CEO of North Middlesex Savings Bank.

“Banking is a people business. Our steadfast commitment to exceptional customer service is built by our teams of dedicated employees. This merger will provide them additional opportunities and teammates to better serve our customers and continue our joint tradition of easy access to decision makers,” said Richard K. Bennett, President and CEO of Marlborough Savings Bank.

Mr. Dwyer will serve as President while Mr. Bennett will serve as the Chief Executive Officer of the combined bank and its holding companies. The Boards of Directors of the combined bank and its holding companies will consist of eight directors from Marlborough Savings Bank and seven directors from North Middlesex Savings Bank. 

Both banks were founded in the 1800s to provide banking services to their communities and reinvest the deposits in loans to support local and economic growth and job creation. Combining two great teams, the mutual banks continue their commitment to delivering exceptional customers experiences through access to local decision makers.

The strategic merger will also result in a merger of both banks’ charitable foundations, which have a long history of giving back to their communities.  In addition to monetary donations, the banks also encourage and support that their employees volunteer in the community, a commitment that will continue and likely grow under the new organization.

The merger is expected to be completed in the fourth quarter of 2016, subject to the receipt of regulatory approval and the approval of both parties’ corporators.

Founded in 1885, North Middlesex Savings Bank is a community bank managed by and for the benefit of local residents, businesses and communities of the Nashoba Valley region (MA). Since its beginning, exceptional customer service has been the hallmark of its success. The Bank has offices in Ayer, Devens, Groton, Littleton, Lunenburg, Pepperell and Shirley for our customers’ convenience. We provide a full-range of innovative banking products and services for personal, small business, mortgages and commercial lending customer needs and is committed to helping make the communities it serves a better place to live, work and grow. North Middlesex Savings Bank is a member of the Federal Deposit Insurance Corporation (FDIC), Deposit Insurance Fund (DIF) and is an Equal Housing Lender. To learn more, please visit www.nmsb.com.
Marlborough Savings Bank is a locally run, independent mutual savings institution serving the Metrowest communities of Massachusetts since 1860. Mutual savings banks are owned by their depositors, not stockholders which deepens their commitment to their customers and the communities they serve. With branch offices in Hudson, Marlborough, Northborough, Southborough, Sudbury and Westborough, Marlborough provides an extensive array of financial services and products for all personal and business life stages. A strong supporter of the communities, MSB is redefining what makes a great bank. For more information, visit www.agreatbank.com.



North Middlesex Savings Bank to Be a Lead Sponsor of the Community Foundation of North Central Massachusetts Nonprofit Series

(Ayer, MA, March 21, 2016) - North Middlesex Savings Bank recently announced it has committed to be a lead sponsor of the Nonprofit Series hosted by the Community Foundation of North Central Massachusetts. “We extend a special thanks to all our sponsors, including North Middlesex Savings Bank, who will make our nonprofit series possible,” said Phil Gr...zewinski, President of the Community Foundation of North Central Massachusetts.  “By partnering with community-based organizations like the Community Foundation we aim to help transform lives in the communities we serve,” said Wally Dwyer, President and CEO of North Middlesex Savings Bank. According to Linda Mack, Vice President of Development and Donor Services for the Community Foundation, these events are designed to help bring the important anchor organizations in our community together to discuss issues and opportunities in the region. As dates are finalized, they will be posted on the Community Foundation of North Central Massachusetts’ website, www.cfncm.org.

Power for Safety! March 2016 Battery Drive

During the month of March, we will be hosting a battery drive in all of our branches. We are looking for donations of unopened, AA and 9V batteries. We will have collection bins at every branch location. These batteries will be donated to the local fire departments in Ayer, Devens, Groton, Littleton, Lunenburg, Pepperell and Shirley, so they can be used for flashlights and smoke detectors in people's homes. Please consider stopping by any one of our branches to make a donation. Your contributions are greatly appreciated and will benefit your community!

Indian Hill Music in Littleton, MA is awarded a $5,000 Grant from North Middlesex Savings Bank!

Walter J. Dwyer IV, President & CEO of NMSB presented the $5,000 check to Susan Randazzo, Executive Director of Indian Hill Music on Monday, February 1st to benefit the music school and the Ayer Shirley School Music Partnership. Several 5th Grade Students from the Lura White and Page Hilltop Elementary Schools who are a part of the Ayer Shirley Music Partnership are featured here. ...

We have had a long standing partnership with Indian Hill Music, and we are happy to help this program grow in the Ayer Shirley Schools.

Picutred here: Front row (L to R): Ashley Esielionis of Shirley Vanessa Bernard of Shirley, and Douglas McDonough of Ayer. Back Row (L to R) Kylee Meadows of Ayer, Susan Randazzo, Executive Director of Indian Hill Music, Wally Dwyer, Preisdent and CEO of North Middlesex Savings Bank, Tanya Chourasia of Ayer, and Chloe Woodward of Shirley.


North Middlesex Savings Bank Earns 5-Star Rating from BAUERFINANCIAL, INC. for Excellence in Financial Strength and Stability

Walter J. Dwyer, IV, President and CEO of North Middlesex Savings Bank, is pleased to announce that the bank has received a 5-Star Rating from BauerFinancial, Inc. the nation’s leading independent bank rating and financial research firm.  “We are pleased that Bauer Financial has recognized North Middlesex Savings Bank. This financial rating further solidifies the hard work of all our employees, leadership team and board of trustees. We have enjoyed solid, steady, and prudent growth and look forward to continued success." said North Middlesex Savings Bank's president and CEO, Walter J. Dwyer, IV.


North Middlesex Savings Bank Announces Promotion of Karen L. Thorne to Senior Vice President and Chief Risk Officer

(Ayer, MA, December 21, 2015) — Walter J. Dwyer, IV, President and CEO of North Middlesex Savings Bank (nmsb.com), is pleased to announce that Karen L. Thorne has been promoted to Senior Vice President, Chief Risk Officer. “Karen is proven leader and has done a phenomenal job overseeing our Commercial Credit and Analyst teams here at NMSB. This move was a natural fit for us and we look forward to benefiting from Karen's extensive insight and experience." said North Middlesex Savings Bank's president and CEO, Walter J. Dwyer, IV.


Thorne joined North Middlesex Savings Bank in 2006 and was most recently Vice President, Credit Administration. Prior to joining NMSB, Karen held several executive positions including Vice President, Regional Credit Manager for TD Bank. Karen is an active member of the community sitting on the Board of Directors at North Central MA. Economic Development Council. Karen is a graduate of Bentley University with a degree in Finance.


Habitat for Humanity, Central Ave. Ayer, MA Build

On July 2nd, we completed our second volunteer day with Habitat for Humanity of North Central Massachusetts for their build at Central Ave. in Ayer, MA. As the premier sponsor, we are happy to be able to donate our time to this project. We have had 14 employees work on this project so far. Tasks have included installing windows, roofing, putting up scaffolding, and some other small projects. The house is coming along great and we are currently planning a third build day. Habitat for Humanity has already selected the two families who will be living in the house, and the project is scheduled to be completed in the fall.


North Middlesex Savings Bank- Financial Education Program

During the month of June, we have had the opportunity to host our Financial Education Program at the Page Hilltop School in Ayer and the Lura A. White School in Shirley. The purpose of this program is to teach students at a young age how to manage their money. In the fourth grade, students are given fictional dollars, with which they open a bank account, and then have to make choices on how to spend, save and donate their money. In the fifth grade program, students are given a career packet, which tells them their career and monthly income. Based on that income they must choose housing, transportation, food, and other necessities. They also have the option to increase their higher education level. We had a great time working with these schools and are excited to return next year with new additions to the program.


North Middlesex Savings Bank Solidifies Status as a Mutual Savings Bank

North Middlesex Savings Bank and Wally Dwyer, President and CEO, featured in the Boston Business Journal.

Click here to view the full article.


Indian Hill Music Awarded $5,000 Grant from North Middlesex Savings Bank

Grant Supports Indian Hill Music School and Indian Hill's Ayer Shirley School Music Partnership


Pictured above, left to right, Olivia Pampinella, student, Walter J. Dwyer, IV, President and CEO of North Middlesex Savings Bank, Susan Randazzo, Executive Director of Indian Hill Music, Pat Fitzgerald, Principal of Lura A. White School in Shirley, and Sophia Brown, student. Both students are participants in the Ayer Shirley School Music Partnership.

North Middlesex Savings Bank has awarded Indian Hill Music $5,000 to support its music school and its outreach program in the Ayer Shirley Regional School District, for the 2015-2016 school year.

The Ayer Shirley School Music Partnership offers elementary school students deeply subsidized after school instrument lessons by Indian Hill faculty. Students take lessons in flute, clarinet, saxophone, percussion, trumpet, trombone, or violin for a small fee, with free or discounted instrument rental, in a supportive group setting. Indian Hill also provides demos, professional performances and master classes for students throughout the district.

Susan Randazzo, Executive Director of Indian Hill Music, commented, "The arts are unfortunately underfunded in many local school systems, including Ayer Shirley Regional School District. Support from local businesses, like our Founding Sponsor, North Middlesex Savings Bank, allows us to put into practice our mission to 'give music generously', ultimately strengthening communities where we live and do business. We thank North Middlesex Savings Bank for their continued generosity."

As a Founding Sponsor of the Ayer Shirley partnership, North Middlesex Savings Bank has contributed $22,500 to the program since its inception in 2007.

Walter J. Dwyer, IV, President and CEO of North Middlesex Savings Bank, commented, "As founding sponsor of the Ayer Shirley Music Partnership, we're proud to support music education in the community and Indian Hill's commitment to share the transformative power of music, through teaching and performing."



North Middlesex Savings Bank hires William (Bill) Keyles as Vice President of Learning & Development

NMSB is pleased to announce that William (Bill) Keyles has joined the bank as Vice President of Learning & Development.  Bill will be responsible for the bank's employee learning & development (training) initiatives.  Bill brings over 20 years of leadership expertise in training and employee development at several community banks including Clinton Savings Bank, Middlesex Savings Bank and US Trust Bank to NMSB, and we are thrilled to have him join our team!

Bill holds a B.S. degree from State University of NY at New Paltz, a Masters of Education from the University of Massachusetts - Boston, and is a graduate of the New England School for Financial Studies at Babson College.  He received his Sigma Black Belt from Aveta Business Institute.  Bill stays active in the community by volunteering his time for Meals on Wheels in Clinton, MA and the Reality Fair at Nashoba Valley Regional High School.  Bill and his family reside in Marlborough, MA.  Welcome to the NMSB Team, Bill!


North Middlesex Savings Bank adds Patrick Bean to the Mortgage Lending Team!

Patrick Bean recently joined the Mortgage Lending Team at North Middlesex Savings Bank as a Mortgage Originator/Business Development Representative.  Pat brings proven lending experience in the Fitchburg and greater Worcester markets making him a great addition to the NMSB mortgage lending team!  Before joining NMSB, Pat was a Mortgage Originator at Rollstone Bank & Trust.  Pat holds a B.A. degree from UMass-Lowell.  Welcome aboard, Pat!









North Central Massachusetts United Way Day of Caring

The Boys and Girls Club of Lunenburg received a fresh coat of paint on the North Central Massachusetts United Way Day of Caring. Volunteers from North Middlesex Savings Bank worked hard sanding and painting the interior of the club on September 18th. Great job Team NMSB!


North Middlesex Savings Bank Adds Bill Greene to its Mortgage Lending Team!

Bill Greene recently joined North Middlesex Savings Bank as a Loan Originator after holding the position of Mortgage Banker for Sierra Pacific Mortgage on Cape Cod and the Islands. Prior to this he held mortgage lending positions with Epic Mortgage and Beacon Funding Group. Bill brings to NMSB over 13 years of residential mortgage experience. Bill attended Westfield State College and is an active member of the Falmouth Chamber of Commerce. He serves the Upper Cape Cod and Martha’s Vineyard markets. Welcome Bill!


 Habitat for Humanity

Habitat for Humanity of North Central Massachusetts recently received a $7,500 donation from North Middlesex Savings Bank. The bank becomes the lead sponsor for Habitat's Central Avenue project in Ayer, MA. The Town of Ayer generously donated the land on Central Ave and construction of two attached Cape style houses is planned for the Fall of 2014.


L to R: Tom Dufault, Vice President, Mortgage Lending, North Middlesex Savings Bank; Maggie Monroe-Cassel, Executive Director, Habitat for Humanity North Central Massachusetts; Stephen Sugar, Jr., Vice President, Commercial Loans, North Middlesex Savings Bank


Business Seminar held at Fruitlands Museum

Over 40 customers and members of our Management Team recently attended a special seminar hosted by the Bank which featured guest speaker, Kevin McCann, President and CEO of The Executive Strategy Group, LLC.  Kevin provided great insight on topics ranging from marketing, lead generation and relationship building strategies during this highly interactive event which was held recently at the Fruitlands Museum in Harvard, MA. 

 We are always looking for ways to support our customers’ success. Our free Business Seminar series provide you and your business with a wide range of practical hands-on advice, and inspirational ideas to help your business flourish.   What’s more, they’re excellent opportunities to network with other local business leaders.



NMSB donates an Automatic External Defibrillator (AED) to HEARTSTRONG.

Stephen Sugar, VP Commercial Lending of NMSB and Peter Warren, Trustee of NMSB, from Harvard are pictured here with the founder of HEARTSTRONG Gracie and team mate Austin. Gracie is an advocate for raising awareness about sudden cardiac arrest in youth. HEARTSTRONG places AED’s at schools and athletic fields and facilities, and provides CPR/AED Training to youth coaches. HEARTSTRONG is extending its efforts into other communities in Central Mass. Grace attends Parker School and Austin attends Littleton Middle School. Way to go Gracie and Austin!



The Special Events Committee has successfully completed our second community project; Banking on Backpacks. We purchased and filled 15 backpacks per branch (105 total), and will distribute them to schools in our community. Each pack contains pens, pencils, crayons, markers, an eraser, a ruler, a calculator, a high lighter, a pencil case, one binder, one packet of loose leaf paper, five notebooks, and five folders. This project in particular took a lot of teamwork, because we all had to go out to find bulk quantities of each item. We were able to form an assembly line to then put them all together! After all of the counting, lifting, filling, and re-counting, our team feels a tremendous sense of accomplishment, because NMSB will make the upcoming school year just a bit less stressful for 105 families. Thank you team!Note:A big Thank You to Big Lots in Fitchburg. Big Lots was EXTREMELY helpful to the CRA Events Committee with our "Banking on Backpacks" project!! In addition to supplying backbacks, they gave NMSB a 20% discount after the sale to allow us to increase our backpack purchases from 70 to 105!




Feed the Need - Kids Come First

Thank you to everyone who helped organize and contribute to the food drive! With your help, we were able to collect nearly 30 boxes full of food! This means we have a goal to beat for next year!

 Walter Dwyer, President and CEO and Karen Thorne, Vice President, Credit Administration  of NMSB present a check to Donna Comeau for the North Central Massachusetts Development Corporation