East Bridgewater Savings Bank will merge into Bridgewater Savings Bank, with the resulting bank operating as Bridgewater Savings Bank, the institutions announced today.

The transaction is expected to increase Bridgewater Savings Bank’s deposits from $293 million to $382 million, capital from $31.8 million to $43.4 million and assets from $389 million to $536 million, according to a press release.

As of June 30, East Bridgewater Savings had assets of $138 million, deposits of $89 million and capital of $11.6 million.

James C. Lively, president and CEO of Bridgewater Savings, said the merger "allows both institutions to remain true to their commitment to mutuality."

"As a significantly larger financial institution, the bank will offer a wider array of products than either institution currently does to commercial and consumer customers."

"By combining two strong well managed mutual institutions, the resulting organization will be able to provide improved products and services in our communities and to compete more effectively against larger institutions," said Joseph A. Petrucelli, president and CEO of East Bridgewater Savings Bank.