Mutual Bank completes transition to state cooperative bank charter

BOSTON - Oct. 30, 2013 - PRLog -- Glen S. White, CEO of Mutual Bank, a community bank with full-service offices throughout Southeastern Massachusetts, has announced that the Bank has completed its conversion to a Massachusetts-chartered cooperative bank.

As such, every cent deposited by customers with the Bank is insured; up to $250,000 is insured by FDIC and amounts beyond are covered by Share Insurance Fund of Massachusetts.

“Thanks are in order to our customers for their support of the conversion to a co-operative bank,” said White. “In fact, many have already taken good advantage of the increased insurance by transferring deposit balances from other banks into their Mutual Bank accounts.  And we fully anticipate commercial and municipal account growth now that we offer unlimited deposit insurance coverage on all balances.”

About Mutual Bank

Mutual Bank is an independent community bank serving consumer and business customers through nine full-service offices in southeastern Massachusetts, and through the Internet at www.MyMutualBank.com. The Bank will open a tenth office and new lending headquarters later this year.   For more information, visit www.MyMutualBank.com, or call Christine Grundy, Vice President & Director of Marketing, at 781-447-4488.