M&A Deal Summary

Cambridge Trust Acquires Northmark Bank

On May 23, 2022, Cambridge Trust acquired financial services company Northmark Bank for 63M USD

Acquisition Highlights
  • This is Cambridge Trust’s 3rd transaction in the Financial Services sector.
  • This is Cambridge Trust’s 3rd largest (disclosed) transaction.
  • This is Cambridge Trust’s 3rd transaction in the United States.
  • This is Cambridge Trust’s 2nd transaction in Massachusetts.

M&A Deal Summary
Date 2022-05-23
Target Northmark Bank
Sector Financial Services
Buyer(s) Cambridge Trust
Deal Type Merger
Deal Value 63M USD
Advisor(s) Griffin Financial Group (Financial)
Goodwin Procter (Legal)

Target

Northmark Bank

North Andover, Massachusetts, United States
Northmark Bank offers a full range of banking services to individuals, businesses, and non-profit organizations. Its staff strives to cultivate banking relationships with clients with the focus of tailoring banking solutions to each individual client's banking needs. Northmark was formed in 1987 and currently operates three branches in North Andover, Andover, and Winchester, Massachusetts.

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Buyer(S) 1

Buyer

Cambridge Trust

Cambridge, Massachusetts, United States
Category Company
Founded 1890
Sector Financial Services
Employees407
Revenue 163M USD (2023)
DESCRIPTION

Cambridge Trust is a private bank that creates custom financial solutions to build, grow, and protect wealth for the needs of today’s individuals, families, businesses, private partnerships and nonprofit organizations. Cambridge Trust was founded in 1890 and is based in Cambridge, Massachusetts.

DEAL STATS #
Overall 3 of 3
Sector (Financial Services) 3 of 3
Type (Merger) 2 of 2
State (Massachusetts) 2 of 2
Country (United States) 3 of 3
Year (2022) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-05 Wellesley Bank

Wellesley, Massachusetts, United States

Wellesley Bancorp, Inc. is a provider of personal, customized, premier banking services to successful people, families, businesses and non-profit organizations. The bank has six full-service banking offices in Wellesley, Newton, Needham, and Boston.

Buy $122M
Mergr

Product

Company

Legal