Marlborough, North Middlesex banks pick new name after $1B merger

Contributed The new logo of Main Street Bank, the post-merger organization from Marlborough and North Middlesex savings banks.

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By Grant Welker

Marlborough Savings Bank and North Middlesex Savings Bank have a name for their new company post-merger.

Meet Main Street Bank.

The two banks announced last July they would merge, and the move will become official April 3. On Wednesday, they announced Main Street Bank as the new name, with 14 branches and nearly $1 billion in assets.

The name was created with Small Army, a Boston branding agency.

Both banks date back to the 1800s: Marlborough Savings Bank to 1860 and North Middlesex Savings Bank to 1885. The two don't overlap much in their geographic areas, with Marlborough's branches span only from Sudbury to Westborough, while North Middlesex's are farther north, from Littleton to Lunenburg.

No staff reductions are expected as part of the merger, the two banks previously said. Walter Dwyer, the CEO of North Middlesex Savings Bank, will be Main Street Bank's president, while Richard Bennett, the president and CEO of Marlborough Savings Bank, will be the CEO.

The boards of directors of the combined bank and its holding companies will consist of eight directors from Marlborough Savings Bank and seven from North Middlesex Savings Bank.