On May 1, 2020, PB Bancorp, Inc., Putnam, Connecticut, the holding company for Putnam Bank, successfully completed its merger with Centreville Bank, West Warwick, Rhode Island. With $529.5 million in assets, PB Bancorp, Inc. operated eight full-service offices and one loan center in Connecticut.

Under the terms of the merger agreement, each share of common stock of PB Bancorp, Inc. was converted into the right to receive $15.25 in cash.

Luse Gorman served as legal counsel to PB Bancorp, Inc. in the transaction. The Luse Gorman team consisted of Eric Luse, Kent Krudys, Scott Brown, Ned Quint, Max Seltzer and Zachary Davis.

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.