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The bank was established in 1885 as Lowell Co-operative Bank. [3] In January 2009, the bank was recapitalized though a supervisory stock conversion, converting from a mutual co-operative bank to a stock co-operative bank. [4] [5] In December 2010, the bank acquired the assets of Omega Mortgage Corporation. [4] [6]
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The Provident became a wholly owned subsidiary of Hartford National. However, The Provident, which is the fourth-largest savings bank in Massachusetts, will continue to operate under the name it has been using since 1816." [8] The bank kept its original name through 1992. In 1993, the Provident was merged into Shawmut Bank. [9] [10]
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The Savings Bank (formerly Wakefield Savings Bank) is a state-chartered mutual bank, headquartered in Wakefield, Massachusetts and founded in 1869. It is one of the oldest banks in the United States . [ 2 ]
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