Bristol County Savings Bank finalizes acquisition of Freedom National

Updated at 2:08 p.m. on August 3, 2020.

TAUNTON – Bristol County Savings Bank has completed its acquisition of Freedom National Bank, the bank announced on Monday.

The deal was finalized on July 31.

The combined entity has roughly $2.8 billion in assets, the bank said.

As of March 31, BCSB had $2.3 billion of those assets, according to the Federal Deposit Insurance Corp. Freedom National, based in Smithfield, was reported to have $126 million in assets at that time.

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“We are very excited to finalize this acquisition and welcome [Freedom National President and CEO] Anthony Botelho, the Freedom team and Freedom customers into the Bristol County Savings Bank family,” said Patrick Murray, CEO and president of Bristol County Savings Bank. “We look forward to serving the customers of Freedom National Bank and deepening our ties to the Rhode Island market.”

Freedom National will be operating as Freedom Bank, a Division of Bristol County Savings Bank, until Sept. 28th, when the Freedom Bank accounts merge into Bristol County Savings Bank.

This story has been updated to include current asset figures for the combined bank entity.