Peter Dello Russo is the CEO and Meg McIsaac is the president of the newly formed Bluestone Bank, which was launched as the result of a merger between Bridgewater Savings Bank and Mansfield Bank.
Dello Russo, the former CEO and president of Bridgewater Savings Bank, has 35 years of experience in finance and management, including 20 years at Bridgewater Savings. McIsaac began her career at Bank of Boston more than 30 years ago and has worked at large commercial and local community banks.
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PBN: What was the impetus for the merger between Mansfield Bank and Bridgewater Savings Bank?
DELLO RUSSO: We were two like-minded, successful community banks who recognized that by joining together to form a larger well-capitalized bank, we would be able to provide improved products, services and technologies to our customers and the community. Our contiguous market area was another reason that brought our banks together, offering our customers greater banking convenience.
PBN: Will any existing branches of either bank close as part of the merger?
DELLO RUSSO: We are excited about our expanded footprint and do not anticipate any branch closures at this time.
PBN: How has COVID-19 affected the plans to merge, either in timeline, logistics, or anything else?
MCISAAC: As the world has been forced to adapt, so have we. While the pandemic has caused delays in the merger and integration process, we are thrilled on how everything has come together. We learned to be more creative with meetings, social interactions and finding alternate ways to get people together.
As an example, we embraced video meetings early on as a way to build our integration teams that became the cornerstone for creating our new Bluestone Bank. We are thrilled with our success thus far despite the obstacles to get here and hope that everyone will see it as a reflection of who we are – able to adjust and adapt quickly to serve our customers and community.
PBN: What new or expanded services will be part of the new Bluestone Bank?
DELLO RUSSO: Our plan is to expand on the products and services we offer now while emphasizing growth in our commercial lending division. As a larger bank, we will be able to serve the larger loan needs for many businesses throughout the communities we serve.
One can expect to receive exceptional services in all areas of Bluestone Bank from day-to-day banking transactions to getting a loan to buy a home to meeting with experts about their financial planning. We are here to help both new and existing customers every step of the way along their financial journey.
What are your top priorities for the new bank in the next year?
MCISAAC: Our top priorities in this first year will be to complete the integration process by joining our core processing systems in February 2021. We will also continue to create awareness of our new Bluestone Bank brand within the communities we serve. We believe we have a great story to tell about the coming together of two strong and storied banks to build the new and improved Bluestone Bank.
Nancy Lavin is a staff writer for the PBN. Contact her at Lavin@PBN.com.
