***** IMPORTANT MESSAGE OF BANK MERGER *****
To Our Family of Customers and Friends of
Needham Bank:
Recently, the Board of Directors of The Needham Cooperative Bank agreed to a
merger with The Dedham Co-operative Bank. The Dedham Co-operative Bank
shares our values, our mission and our exceptionally high standards of
personal customer service. We expect the merger to occur in the second
quarter of 2007. The merged banks will carry the name Needham Bank
and will have assets totaling over $650 million and for your protection, a
net worth of over $170 million.
While our name will change, our core values of integrity, efficient
service, relationship building and excellence will not. We are focused on
building solid banking relationships with our customers while providing the
personal service that’s expected of a true community bank, just as we have
since 1892. Needham Bank will remain committed to local decision
making and to meeting the needs of the communities we call home.
With the merger of customers and employees, our family continues to grow, as
does its needs. Simultaneous with this merger, we are undergoing major
renovations to our Needham banking headquarters. This expansion will allow
us to introduce new products and services, helping us to better meet your
growing banking needs.
Outside of having an additional branch available to you in Dedham Square at
402 Washington Street, and an added variety of lending and deposit products,
this merger will not affect your daily banking activities. This letter is
purely informational and there is nothing that you need to do or prepare
for. As we go forward with the merger, we will keep you informed of our
ongoing service enhancements and as always, we welcome your questions or
concerns.
Your banking relationship is vital to us, and we believe all customers will
see evidence of that each time you interact with us. I assure you that we
will continue both banks’ tradition of being a good corporate neighbor and
continue to serve our customers personally, professionally and locally under
the Needham Bank name. Thank you for your support and patronage over
the years and we, with Dedham Co-operative Bank, look forward to serving
your banking needs for years to come.
Sincerely,
John W. McGeorge
President
