K&L Gates Advises River Run Bancorp, MHC in Merger With Rollstone Bancorp, MHC

Global law firm K&L Gates LLP represented River Run Bancorp, MHC (River Run) in the merger of Rollstone Bancorp, MHC, the mutual holding company parent of Rollstone Bank & Trust, with and into River Run. This transaction will result in Rollstone Bank & Trust becoming the third bank subsidiary of River Run. This strategic transaction represents a significant step in bolstering and sustaining the mutual community banking model amid the evolving financial services landscape.

River Run is a multi-bank mutual holding company that allows its community bank subsidiaries to consolidate back-office operations, offer additional products and services, and achieve scale and efficiencies, all while prioritizing customer and community engagement. The merger has been unanimously approved by the boards of River Run, Rollstone Bancorp, MHC, and Rollstone Bank & Trust, as well as the corporators of River Run. The transaction is anticipated to close in the first half of 2025, subject to the receipt of all required regulatory approvals and other customary closing conditions.

The K&L Gates team for River Run was led by Boston partner Grant Butler.

“Thanks to the guidance from the K&L Gates team, we are thrilled to welcome Rollstone to the River Run family and are confident that, together with Newburyport Bank and Pentucket Bank, we will continue to support the evolution of community banking,” said Lloyd Hamm, President & CEO of River Run.

“We are very pleased to advise River Run on this transaction, which will help preserve community banking in Massachusetts by adding another independent community bank franchise to River Run’s multi-bank mutual holding company structure,” Butler said.