Rollstone Bank & Trust to Join River Run Bancorp, MHC
Rollstone & River Run
Lloyd Hamm, President & CEO of River Run
Marty Connors, President & CEO of RBT
Rollstone Bank & Trust (RBT) is excited to announce that we have entered into an agreement to join River Run Bancorp (River Run), Mutual Holding Company (MHC). RBT will be the third community bank of River Run, alongside Newburyport Bank and Pentucket Bank.
This strategic partnership represents a significant step in bolstering and sustaining the mutual community banking model amid the evolving financial services landscape. The combined assets of Newburyport Bank, Pentucket Bank, and RBT will exceed $3.5 billion, enhancing our collective ability to serve markets in Northeastern and North Central Massachusetts, as well as Southern New Hampshire.
As strong, secure, and long-standing community banks, with similar cultures and proud commitments to mutuality, we have agreed to merge our holding companies and bring Rollstone under the River Run umbrella, pending regulatory approval. Rollstone will remain an independent entity, maintaining our name and brand. This means that RBT will continue to carry out our mission to help the people, organizations, and businesses of our community flourish.
Customer relationships with Rollstone will not change.
Your banking relationship with us will not change. We will continue to work hard each day to serve as your trusted financial partner and assist you in achieving your financial goals. You will receive the same top-notch service you’re accustomed to at RBT and you can continue to reach out to us with any questions that you may have.
Rollstone Bank will remain as committed as ever to our local communities.
We remain as committed as ever to serving our local region. Rollstone Bank & Trust headquarters will remain in Fitchburg and all branch locations will continue to operate as they do today. The partnership with River Run further strengthens our ability to help individuals, families, and businesses. Rollstone Bank is not being bought or sold; this is not a bank level merger, but rather a change to the corporate structure.
Leadership at the Bank will transition.
RBT’s President & CEO, Martin F. Connors, Jr., will soon retire from his role. Upon retirement, he will become Executive Chair of the Board of Directors for Rollstone and will also serve as Vice Chair of the River Run Board, so that he may represent the best interests of Rollstone Bank and its customers. Mary Beth Jokela will succeed Connors as President of RBT. She has been with the Bank since 2020, leading the team through complex technology upgrades. Jokela is a lifelong resident of the North Central MA area and will be the Bank’s first female President.
Benefits of the partnership
This mutually beneficial partnership at the holding company level enhances the existing strength of each organization. It allows for collaboration, shared services, and pooled resources between the banks to better meet the needs of our customers in an evolving banking landscape. By leveraging our combined resources, you will have access to more banking tools, services, and technologies to help you manage and improve your financial future.
Why River Run?
The other two banks of River Run share our long history and personalized approach to community banking, as well as our commitment to mutuality. With closely aligned values and missions, we will pool resources to strengthen our position in the financial services space so that we can continue to serve our customers and communities.
Frequently Asked Questions
We understand that you might have some questions about this news. Below are answers to some commonly asked questions.
