The Parent Companies of MountainOne Bank and Mechanics Cooperative Bank have merged into a combined Mutual Holding Company, MountainOne Financial, MHC.
The newly combined Mutual Holding Company manages over $1.8 billion in assets and 15 full-service retail banking locations across Massachusetts. MountainOne Bank and Mechanics Cooperative Bank remain independent from one another as separately FDIC-insured institutions, each retaining their existing name and brand, headquarters, and their own board of directors for at least five years from the merger’s effective date of January 1, 2026.
Both MountainOne and Mechanics are both high-performing, successful, financially sound, well capitalized, and growth driven financial institutions. This is a merger of equals, and one of strength, not necessity. We are very excited about the opportunities this partnership creates for each of our constituents: our Mountaineers, our customers, and our communities.
We are proud to share that all employees have remained in their roles, customers have experienced no disruption, and we continue to invest in each of our communities. Please see the questions and answers below to learn more!
Bringing our two institutions under one holding company provides many mutual benefits for our customers and employees. This decision came after much thought, discussion, and due diligence. After completion of the merger, the new consolidated holding company for both banks has approximately $1.8 billion in assets and fifteen (15) full-service retail banking locations across Massachusetts.
Simply put, this merger strengthens our financial position and enhances the long-term success of our organizations, while still allowing each bank to operate independently, and MountainOne Insurance and MountainOne Investments to continue to grow.
In an ever-changing financial landscape, as two community bank leaders, we remain committed to serving our customers and the community. Merging into a combined Mutual Holding Company enables both MountainOne Bank and Mechanics Cooperative Bank to leverage our shared strengths and share resources through collaboration.
Your banking experience has not changed. Your accounts at MountainOne Bank remain the same. Our corporate headquarters remain in North Adams, your local branch will continue to operate as is, and our dedicated team of professionals is here to answer all your questions.
No. MountainOne Bank, MountainOne Insurance, and MountainOne Investments continue under their existing names and brands, headquarters, and locations.
No. MountainOne Bank’s officers and leadership team has not changed. Robert Fraser remains President and Chief Executive Officer of MountainOne Bank and Joseph T. Baptista Jr., remains as President and Chief Executive Officer of Mechanics Cooperative Bank. Under the terms of the agreement, both entities are proud to share there were no reductions in staff at either institution as a result of the merger. Furthermore, the agreement specifies a shared commitment to mutuality – a cornerstone of the combined organizations.
No. Both banks continue to operate independently, with the same team serving the community at your local branch, while under one combined mutual holding company, MountainOne Financial, MHC. Both banks have retained their respective charters, headquarters, and brand names.
As this is a merger into a combined mutual holding company, no customer data or bank-specific systems have been merged at this time.
A Mutual Holding Company (MHC) is a parent company, which owns the subsidiary bank(s). In a highly regulated industry such as banking, a holding company structure allows for more growth opportunities, including acquiring and/or developing other lines of business. As a mutual banking institution, MountainOne Bank is owned by our depositors, not by shareholders.
No. The exceptional, personalized service we provide day-in and day-out through our digital and in-person experiences remains unchanged. You will still see the same friendly faces you know and trust at your local banking offices, and you still have access to the same products and services we currently provide.
The merger became effective as of January 1, 2026.
Please reach out! We are excited to answer all your questions relating to this merger of holding companies. You are welcome to email us here, call our Customer Care team at 855-444-6861, stop into a MountainOne location, or reach out to your banker, lender or advisor directly!