Meetinghouse Bancorp, Inc. Receives Shareholder Approval for Merger with Meridian Bancorp, Inc.
September 20 2017 - 4:10PM
Meridian Bancorp, Inc. (“Meridian”) (NASDAQ:EBSB), the holding
company for East Boston Savings Bank, and Meetinghouse Bancorp,
Inc. (“Meetinghouse”) (OTC Pink:MTGB), the holding company for
Meetinghouse Bank, announced today that Meetinghouse has received
the requisite shareholder approval for the merger of Meetinghouse
with and into Meridian that was announced on June 26, 2017. The
transaction remains subject to receipt of all required regulatory
approvals and satisfaction of customary closing conditions.
About Meridian Bancorp, Inc.
Meridian Bancorp, Inc. is the holding company
for East Boston Savings Bank. East Boston Savings Bank, a
Massachusetts-chartered stock savings bank founded in 1848,
operates 31 full-service locations in the greater Boston
metropolitan area. East Boston Savings Bank offers a variety of
deposit and loan products to individuals and businesses located in
its primary market, which consists of Essex, Middlesex, Norfolk and
Suffolk Counties, Massachusetts. For additional information, visit
www.ebsb.com.
About Meetinghouse Bancorp, Inc.
Headquartered in Dorchester, Massachusetts,
Meetinghouse Bancorp, Inc. is the bank holding company for
Meetinghouse Bank, a state chartered cooperative bank. Founded in
1914, Meetinghouse Bank operates as a community bank offering
traditional financial services to consumers and businesses within
its primary market area. For additional information, visit
www.meetinghousebank.com.
Forward Looking Statements
This press release contains “forward-looking”
statements as defined in the Private Securities Litigation Reform
Act of 1995, which are based on Meridian’s and Meetinghouse’s
current expectations, estimates and projections about future
events. This includes statements regarding the timing of the merger
completion, the business plans and integration efforts once the
transaction is complete, Meridian’s ability to expand its services
and realize growth and efficiencies through the acquisition of
Meetinghouse and Meetinghouse Bank, Meridian’s expectations
regarding the internal rate of return on the acquisition,
merger-related expenses and the impact of the transaction on
Meridian’s earnings, market share and capital position. These
statements are not historical facts or guarantees of future
performance, events or results. Such statements involve potential
risks and uncertainties, such as whether the merger will be
approved by regulatory authorities, whether each of the other
conditions to closing set forth in the merger agreement will be
met, Meridian’s ability to integrate Meetinghouse Bank as planned
and the general effects of financial, economic, regulatory and
political conditions affecting the banking and financial services
industries. Accordingly, actual results may differ
materially. Neither Meridian nor Meetinghouse undertake any
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Additionally, other risks and uncertainties may be
described in Meridian’s Annual Report on Form 10-K, its Quarterly
Reports on Form 10-Q or its other reports as filed with the
Securities and Exchange Commission, which are available through the
SEC's website at www.sec.gov. Should one or more of these risks
materialize, actual results may vary from those anticipated,
estimated or projected. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. Except as may be required by
applicable law or regulation, Meridian assumes no obligation to
update any forward-looking statements.
Meridian Bancorp, Inc.
Contact:
Richard J. Gavegnano,
Chairman, President and Chief Executive Officer
(978) 977-2211
Meetinghouse Bancorp, Inc.
Contact:
Anthony A. Paciulli,
President & Chief Executive Officer
(617) 296-7039
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