Covington Represents Mascoma Bank in its Plan for a Multi-Bank Mutual Holding Company Structure with Androscoggin Bank

BOSTON—Covington advised Mascoma Mutual Financial Services Corporation and Mascoma Bank in its plan with Androscoggin Bank to combine their parent companies into a single mutual holding company, bringing together two mutually owned community banks that share deep roots across Northern New England.

Under the proposed structure, both Mascoma Bank and Androscoggin Bank will continue to operate with their own names, brands, charters, and Boards of Directors.

Mascoma Bank is a $2.99 billion mutual bank and Benefit Corporation with 28 branches and 2 loan offices throughout Northern New England.

Androscoggin Bank is a $1.8 billion community bank and Certified B Corporation™ with 10 branches across the state of Maine.

The Covington team included Samantha Kirby, Bill McCurdy, Kevin Gauch, Randy Benjenk, and Tyler Smith.