BAY STATE BANCORP, INC
Previous company name
Name change date
It is the holding company for Bay State Federal Savings Bank, which began as a mutual cooperative bank in 1920 and now operates six full-service banking offices in the Boston metropolitan area. Bay State’s deposit instruments include individual and business checking, savings, money market, and NOW accounts, as well as CDs. Its lending activities are primarily comprised of one-to-four family mortgage loans, about 50% of its portfolio; multifamily and commercial real estate account for over 40%.
In June 2003, the company was absorbed by Seacoast Financial Services Corporation. Seacoast Financial Services Corporation is the holding company for CompassBank and Nantucket Bank and is headquartered in New Bedford, Massachusetts. With the acquisition of Bay State Federal Savings Bank, Bay State Bancrop’s wholly owned bank subsidiary, CompassBank is a $3.8 billion Massachusetts chartered savings bank serving eastern Massachusetts through a network of 46 full service branch offices and 52 branch and remote ATMs. Nantucket Bank is a $468 million state chartered savings bank serving Nantucket Island with three full service branch offices.
Bank Holding & Holding Company
Description and history
The holding company for Bay State Federal Savings Bank
US SIC Code
Beacon St, 1299
City province or state postal code
02446, BROOKLINE, MA
Phone: 1 (617) 739 95 00
Fax: 1 (617) 734 51 85
Country address: UNITED STATES OF AMERICA
Website url: www.baystatefederal.com