On May 17, 2017, Abington Bank (“Abington”), Abington, Massachusetts, and Avon Co-operative Bank, (“Avon”), Avon, Massachusetts, jointly announced that Avon will merge with and into Abington, with Abington as the resulting institution. The combined institution will have total assets of approximately $330 million.
Luse Gorman served as legal counsel to Abington in the transaction. The Luse Gorman team was led by Kent Krudys, Lawrence Spaccasi and Victor Cangelosi (Corporate/M&A) and Thomas Hutton (Executive Compensation).
Abington is a Massachusetts chartered mutual co-operative bank with $242 million in assets.
Avon is a Massachusetts chartered mutual co-operative bank with $88 million in assets.