Reading Cooperative Bank Merger Approved with Wakefield Co-operative

Deal News | Apr 23, 2025 | EIN

Reading Cooperative Bank Merger Approved with Wakefield Co-operative

In a strategic move aimed at expanding their reach and effectiveness, Reading Cooperative Bank and Wakefield Co-operative Bank have received regulatory approval for their merger, set to officially close on May 1. The merger will see the combined entity controlling approximately $1.2 billion in assets with 14 branches across 11 communities, an increase of three locations from Reading's current total. The leadership of the merged institution will remain under the current president and CEO of Reading Cooperative Bank, Julieann M. Thurlow, while Wakefield's CEO, Jeffrey A. Worth, will take the role of president of the new entity. This merger underscores a commitment to community banking, merging resources to improve service offerings without closing any branches. By sharing key service vendors, the banks anticipate a smooth transition for their customers.

Sectors

  • Banking and Finance

Geography

  • United States – Both Reading Cooperative Bank and Wakefield Co-operative Bank operate in the United States, specifically targeting local communities in their region.

Industry

  • Banking and Finance – The merger involves two cooperative banks, which are financial entities providing banking services in communities.

Financials

  • $1.2 billion – The combined assets of Reading Cooperative Bank and Wakefield Co-operative Bank post-merger.

Participants

NameRoleTypeDescription
Reading Cooperative BankTarget companyCompanyA cooperative bank involved in a merger to expand operations and services.
Wakefield Co-operative BankBidding company/buyerCompanyA cooperative bank merging with Reading Cooperative to improve customer services and expand presence.
Julieann M. ThurlowCEOPersonCurrent President and CEO of Reading Cooperative Bank who will lead the merged entity.
Jeffrey A. WorthPresidentPersonPresident and CEO of Wakefield Co-operative Bank, who will become president of the new merged entity.