Danvers Bancorp Inc.

Danvers Bancorp Inc., owner of Massachusetts state-chartered Danvers Savings Bank, and Revere MHC, parent of the federally chartered Revere Federal Savings Bank announced merger plans. The merger will result in the elimination of Revere MHC and the eventual absorption of Revere Savings Bank as a division of Danvers Savings Bank. At the end of last year, Danvers had assets of $454 million, and Revere had total assets of $145 million.