CompassBank Reaffirms Commitment to Sandwich Deal.NEW BEDFORD New Bedford, city (1990 pop. 99,922), seat of Bristol co., SE Mass., at the mouth of the Acushnet River on Buzzard's Bay; settled 1640, set off from Dartmouth 1787, inc. as a city 1847. , Mass.--(BUSINESS WIRE)--Feb. 24, 1998--Compass Bank for Savings today reaffirmed its commitment to consummate its previously announced acquisition of Sandwich Bancorp, Inc., and said that its discussions with Sandwich toward that end have been ongoing since the date of the announcement. The 1855 Bancorp, the parent holding company of Compass, further announced that it will file its regulatory application to acquire up to 24.9% of the common stock of Sandwich on Wednesday, February 25. The required newspaper notices relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc that application appeared today in the Cape Cod Times The Cape Cod Times is a broadsheet daily newspaper serving Cape Cod, Martha's Vineyard and Nantucket, Massachusetts, United States. It is owned by Ottaway Community Newspapers, a subsidiary of Dow Jones & Company, Inc. and the New Bedford Standard Times. Compass President and Chief Executive Officer Kevin G. Champagne said that Compass is prepared to take all steps necessary to enforce its rights under its Acquisition Agreement and other agreements that have been entered into relating to the Sandwich acquisition. Mr. Champagne said that Compass continues to view the overtures that Sandwich has received from other would-be acquirors as attempts to interfere with the existing contract between Compass and Sandwich. CompassBank is a $1.1 billion state chartered savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. operating as a wholly-owned subsidiary of The 1855 Bancorp. The bank has 23 full service branch offices, 2 limited service offices in area high schools and a network of 25 branch and remote ATMs, serving Southeastern Massachusetts Southeastern Massachusetts is a term that refers to those portions of Massachusetts which are, by their proximity, economically and culturally linked to Providence, Rhode Island as well as Boston. and Martha's Vineyard Martha's Vineyard (vĭn`yərd), island (1990 est. pop. 8,900), c.100 sq mi (260 sq km), SE Mass., separated from the Elizabeth Islands and Cape Cod by Vineyard and Nantucket sounds. . The bank provides a wide array of financial services including consumer banking, mortgage lending, commercial lending, consumer finance and alternative investments. CONTACT: Compass Bank for Savings Jim Rice, 508/984-6102 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion