MountainOne Financial, Mechanics Bancorp Receive Aprovals To Merge

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NORTH ADAMS, Mass. — MountainOne Financial, MHC, the mutual holding company parent of MountainOne Bank, and Mechanics Bancorp, MHC, the mutual holding company parent of Mechanics Cooperative Bank, announced that all regulatory approvals required to complete the merger of the two mutual holding companies have been received.
 
The merger transaction is scheduled to take place on Jan. 1, 2026, at which time the newly combined mutual holding company will operate under the name MountainOne Financial, MHC, and will have approximately $1.9 billion in assets.
 
MountainOne Bank and Mechanics Cooperative Bank will continue to operate as two separate, independently chartered community banks, and will each retain their existing names, headquarters locations, leadership teams, and boards of directors. Furthermore, customers will not experience any disruption, nor do they need to take any action.
 
Bringing together two organizations allows the newly combined mutual holding company to take their time in evaluating opportunities to collaborate where doing so strengthens service, enhances operational efficiency, or supports long-term sustainability.
 
Upon completion of the merger, Robert J. Fraser will serve as Chairman and Joseph T. Baptista Jr. as President and Chief Executive Officer of the combined Mutual Holding Company, MountainOne Financial, MHC. Fraser will continue in his role as President and Chief Executive Officer of MountainOne Bank and Baptista will also remain as President and Chief Executive Officer of Mechanics Cooperative Bank. There are no staff reductions associated with the merger.
 
"This merger is a strong step for both organizations," said Robert J. Fraser. "It reflects shared priorities and a clear focus on bringing long-term value to our customers and community. We are proud of the work that brought us here and confident in the direction ahead. Our customers, employees, and communities remain at the center of our decisions."
 
"We are excited to move forward together," said Joseph T. Baptista Jr. "This merger positions us to grow, invest, and serve with even greater impact. Our teams are energized by our shared vision, and we are looking forward to the opportunities it creates for our customers and communities. MountainOne Financial, MHC will carry on each legacy organizations’ commitment to mutuality, which places its customers and communities at the center of organizational decision-making. MountainOne Bank and Mechanics Cooperative Bank each have deep roots in their respective communities and have prioritized an ongoing commitment to remain local, accessible, and engaged."
 
FinPro Capital Advisors, Inc. served as the financial advisor to MountainOne Financial, MHC and Piper Sandler & Co. served as the financial advisor to Mechanics Bancorp, MHC. Luse Gorman, PC served as legal counsel to MountainOne Financial, MHC and Nutter McClennen & Fish LLP served as legal counsel to Mechanics Bancorp, MHC.

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State Fire Marshal: 'Fall Back' Into Safety

STOW, Mass. —State Fire Marshal Jon M. Davine and the Fire Chiefs Association of Massachusetts are reminding residents to replace the batteries in their smoke and carbon monoxide (CO) alarms and replace outdated alarms when they change their clocks this weekend. 

"Smoke and CO alarms can save your life and protect the people you care for, but only if they're working properly," said State Fire Marshal Davine. "As we 'fall back' this weekend, please take a few minutes to check the manufacturing date on the back of your alarms, replace them if they're outdated, and put fresh alkaline batteries in the alarms that use them." 

"Smoke alarms should be replaced after 10 years," said Brockton Fire Chief Brian Nardelli, who serves as president of the Fire Chiefs Association of Massachusetts. "Carbon monoxide alarms should be replaced according to the manufacturer's instructions – usually 5, 7, or 10 years, depending on the make and model." 

A 2015 update to the State Fire Code requires that replacement smoke alarms in most Massachusetts homes have sealed, 10-year batteries. Now, more than 10 years later, many alarms purchased to comply with the update are at or near the end of their useful lifespans. 

State Fire Marshal Davine and Chief Nardelli offered these tips for anyone replacing out-of-date single-station smoke alarms. Following these guidelines will reduce the risk of a disabled or outdated alarm failing to alert residents: 

  • Choose photoelectric alarms from a well-known, national brand 
  • Look for the mark of an independent testing lab like UL or Intertek/ETL 
  • Select alarms with a sealed, long-life battery and a "hush" feature" 
  • Alarms that meet UL Standard 217, 8th edition or later, use the latest multi-criteria technology to reduce nuisance alarms caused by cooking smoke 

If your alarms are less than 10 years old and take alkaline batteries, then put in fresh batteries to be sure you're protected all winter long. And remember to test your smoke and CO alarms once a month to be sure they're working properly. 

Fire and CO Hazards Rise During Heating Season

In an average year, about 54 percent of Massachusetts residential fire deaths take place between November and March, State Fire Marshal Davine said, with home heating equipment being the second-leading cause of house fires in 2025. Carbon monoxide incidents start even earlier as residents start turning up the heat for the first time since summer. 

"Carbon monoxide is a leading cause of accidental poisoning, and heating equipment is the main source of carbon monoxide at home," Chief Nardelli said. "We can't see, smell, or taste carbon monoxide. Working CO alarms on every level of your home are the only way to detect this invisible killer." 

Massachusetts firefighters encountered carbon monoxide hazards at about 5,000 calls last year, State Fire Marshal Davine said. 

Create & Practice a Home Escape Plan

"Changes to building construction and furnishings mean we have less time to escape a fire at home than ever before," said State Fire Marshal Davine. "You could have just three minutes to get out safely."  

"Working smoke alarms and a practiced home escape plan are among the most fundamental and important tools for surviving a fire," said Chief Nardelli. "Be sure everyone in the home knows what to do and where to go when the alarm sounds, including young children, older adults, and persons with disabilities." 

Fire officials recommend planning two ways out of the building, the apartment, and each room if possible. Be sure to select a family meeting spot a safe distance from the building. 

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