By Josh Resnek
At a Special Meeting of it depositors held at the bank’s main office on May 5, more than 92% of the Everett Bank’s depositors in attendance voted to allow the bank to convert from its charter as a mutual, co-operative bank, to a publicly traded, shareholder bank.
With approximately $700 million in assets, thousands of happy depositors, mortgage customers and small business relationships, commensurate with commercial and real estate growth in the city, the Everett Cooperative Bank, Everett Bank, is going public after 125 years of steady, solid growth.
The show of support from the depositors indicates that there is a high level of confidence that the leadership of the bank is steering the bank in positive direction. Bank management and the Bank’s Board of Directors see this overwhelming vote as an affirmation, by its customers, that this action will serve to strengthen an already strong community Bank.
“I am very pleased and the bank’s Board of Directors are pleased as well at this showing of support by our depositors for the bank’s strategic direction” said bank President Attorney Richard O’Neil.Continue reading “Depositors Give Everett Bank Approval for Conversion To Public Bank”