June 5, 2020

On June 1, 2020, Melrose Bancorp, Inc., Melrose, Massachusetts, the holding company for Melrose Bank, successfully completed its merger with Cambridge Financial Group, Inc., Cambridge, Massachusetts, the holding company for Cambridge Savings Bank. With approximately $340 million in assets, Melrose Bank operated as a full-service community bank with its office located in Melrose, Massachusetts.

Under the terms of the merger agreement, each share of common stock of Melrose Bancorp, Inc. was converted into the right to receive $25.00 in cash.

With approximately $4.7 billion in total assets, Cambridge Financial Group, Inc. provides banking services through a branch network of 17 full-services offices in Massachusetts.

Luse Gorman served as legal counsel to Melrose Bancorp, Inc. in the transaction. The Luse Gorman team consisted of Lawrence M.F. Spaccasi, Kent Krudys, Steven Lanter, Jeffrey Cardone and Ellie Cook.

Luse Gorman has served as counsel on more than 100 financial institution mergers and acquisitions during the past five years, which is more than any other legal advisor during that time period. To learn more about our mergers and acquisitions practice, please visit our website.