- Division of Banks
- Office of Consumer Affairs and Business Regulation
1831 BANCORP, MHC (MHC) and 1831 BANCORP, INC. (BANCORP), Dedham, Massachusetts have petitioned the Board of Bank Incorporation (Board), pursuant to Massachusetts General Laws chapter 167A, sections 2 and 4, for approval to each become a bank holding company through the direct and indirect acquisition of SOUTH SHORE BANK, Weymouth, Massachusetts. MHC and BANCORP are the mutual holding company and mid-tier stock holding company, respectively, of DEDHAM INSTITUTION FOR SAVINGS, Dedham, Massachusetts. The transaction will be effected through a merger of MHC with SOUTH SHORE BANK’S mutual holding company, SOUTH SHORE BANCORP, MHC and the merger of BANCORP with SOUTH SHORE BANK’S mid-tier subsidiary stock holding company, SOUTH SHORE BANCORP, INC., Weymouth, Massachusetts. Upon consummation of the transaction, MHC and BANCORP would be the mutual holding company and mid-tier subsidiary stock holding company for both DEDHAM INSTITUTION FOR SAVINGS and SOUTH SHORE BANK.
In determining whether or not to approve the matter before it, the Board must decide, among other things, whether competition among banking institutions will be unreasonably affected and whether public convenience and advantage will be promoted by this proposal.
A virtual public hearing will be given to all interested parties on the petition before the Board on Tuesday, August 1, 2023 at 10:30 a.m.
Below is the link for the hearing:
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While it is not necessary to pre-register to provide oral testimony, anyone who emails their intention to provide oral testimony at the hearing in advance will receive preference in the order of testimony provided. Such optional notice must include the person’s name, telephone number, and email address. Please send via email to dob.comments@mass.gov by Monday, August 7, 2023 by 5:00 p.m. In addition, written testimony can also be provided in advance via email to dob.comments@mass.gov. If there are any questions, please contact the Division’s Legal Unit at 617-956-1520.
All comments concerning this petition must be filed with the Board at 1000 Washington Street, 10th Floor, Boston, Massachusetts 02118-6400 or via electronic mail to dob.comments@mass.gov by the close of business on Monday, August 7, 2023. The application and all communications relative to these matters are available by request at dob.rao@mass.gov.
Division of Banks
