Community Banking: Cambridge Financial Group Will Buy Melrose Bancorp

https://dailyalts.com/wp-content/uploads/2019/12/57e0d3404e56ae14ea898579ce203e7c1d22dfe05457794f732e72d4_640.jpg

This is the 10th takeover for the Banking on Profit portfolio.

Cambridge Financial Group is acquiring Melrose Bancorp (MELR) for $25 a share in cash.

The mutual holding company for Cambridge Savings Bank will receive quite a boost after this deal. Cambridge would have assets of approximately $4.7 billion and a branch network of 17 full-service offices. The transaction is subject to regulatory and shareholder approval and should close in the second quarter of 2020.

“We are pleased to announce that we are partnering with Melrose to expand our presence in Middlesex County,” said Wayne Patenaude, President and CEO of Cambridge Financial Group. “As local banks, we share similar core values and a relationship-centric approach to serving the communities that we are fortunate to be a part of. This transaction is a very natural and contiguous expansion of our current footprint.”

Jeffrey D. Jones, President and CEO of Melrose Bancorp, also praised the deal.

But the people who got the most benefit out of the merger: Investors who bought Melrose Bancorp off the recommendation of Tim Melvin.

Cambridge Financial Merger: Community Banking Win No. 10

Meanwhile, the Melrose takeover was the 10th of the year for Tim Melvin’s Banking on Profit portfolio.

The stake also closed out with readers generating 37% on their position.

Further, this has become a regular occurrence. Since the inception of the Banking on Profit newsletter, Melvin has achieved annual returns in the double-digits each year. In the last three years, Melvin’s portfolio has seen 33 takeovers, with 26 of them in the last 24 months. More important, his community banking letter has never experienced a losing position.

We are giving away access to the Daily Alts Community Banking Letter for a limited time.

Authored by Tim Melvin, one of the world’s top community banking analysts, this newsletter contains monthly insight into the community banking space and a portfolio of stocks that are ripe for acquisition in 2020.

Sign up, right here. You’ll start receiving your two free months in January.

Related: Community Banking Merger: Kearny Financial Buys MSB Financial

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/07/cryptocurrency-3287396_640.jpg
Digital Assets: Cryptoassets As A National Currency – “Inadvisable Shortcut,” Says IMF
July 28, 2021     Digital Assets, News

In a blog this week the IMF warned against the use of cryptoassets as a national currency, saying it was a “step too far.” Though cryptos had obvious advantages such…

https://dailyalts.com/wp-content/uploads/2021/07/4617521473_66c01e50ee_c.jpg
Alternative Investments/ESG: A Shariah Compliant ETF Tracking China ‘A’ Shares Debuts In Malaysia

Value Partners Group Ltd listed today the VP-DJ Shariah China A-Shares 100 ETF, the world’s first Shariah-compliant A-share exchange traded fund (ETF), on Bursa Malaysia. The ETF provides investors exposure…

https://dailyalts.com/wp-content/uploads/2021/07/Tably-screengrap.jpg
Artificial Intelligence: Tably, An AI-Powered App, Can Tell How Your Cat Is Doing
July 28, 2021     Artificial Intelligence, News

Sylvester.ai, which uses AI to improve animal health outcomes, has created Tably, an open beta app that “a cat parent” can download and better understand their pet’s health and mood….

https://dailyalts.com/wp-content/uploads/2021/07/COMBINED.jpg
FinTech: Alternative Investments Platform Yieldstreet Funded Over $2 Billion
July 27, 2021     Alternative Investments, FinTech, News

Yieldstreet offers retail investors the opportunity to invest in alternative asset classes such as real estate, marine, art, legal finance, and commercial lending. Products are offered across a range of…