Mutual Bancorp Expands Multi-Bank Holding Company Model with Addition of Bluestone Bank

October 31, 2025: Hyannis, MA and Raynham, MA – Mutual Bancorp, the parent company of Cape Cod 5 and Fidelity Bank, announced today that Bluestone Bank will join its family of community banks. This partnership, which has the full support of all boards of directors involved, is expected to be formalized in the third quarter of 2026, pending regulatory approval. This multi-bank model further advances the strategic growth of all three organizations and is designed to deliver financial strength, long-term sustainability, and support of the banks’ missions.

This partnership reflects the shared commitment to a structure that enables each community bank to maintain its local brand, and serving clients and communities, while benefiting from strength and scale through greater depth in talent and ability to continue to invest in technology. Over the past two years, Mutual Bancorp has focused on developing a scalable platform to support collaboration, enhance risk management, and strengthen competitive positioning across its banks.

With the addition of Bluestone Bank, Mutual Bancorp and its family of banks will increase to an $8.6 billion organization, providing a full range of financial services for clients and community members across Massachusetts. Mutual Bancorp will become the largest mutual in New England and the third largest in the country.

“Our teams have worked together to build a thoughtful structure that allows our banks to benefit from shared strength and resources while maintaining their deep local roots,” said Matt Burke, Chairman & CEO of Mutual Bancorp. “Welcoming Bluestone into our family of banks reinforces that vision and positions all of our banks for continued growth, innovation and long-term success. Together, we are stronger and better equipped to serve our clients and communities, and to continue to invest in the growth of our colleagues.”

As part of the transition, Meg McIsaac, President & CEO of Bluestone Bank, will also assume the position of Co-President and Vice Chair of the Board of Trustees of Mutual Bancorp. Two additional members of the Bluestone Bank Board of Directors will also join the Board of Mutual Bancorp.

“Entering into this strategic partnership with Cape Cod 5 and Fidelity Bank as part of Mutual Bancorp enables Bluestone to further invest in providing financial products and services to our customers, enhance the support we provide to our communities, and continue to offer career development to our employees,” said Meg McIsaac, President and CEO of Bluestone. “We are excited about the strengths our three banks bring to each other and to the customers and communities we all serve.”

In addition to being supported by shared operational services, local teams across each of the banks remain committed to continuing individual community engagement efforts through encouraging employee involvement with local nonprofits, offering financial education in-person and through digital resources, and providing corporate philanthropic giving.

Piper Sandler & Co. served as the financial advisor on this transaction. Goodwin Proctor LLP served as legal counsel to Mutual Bancorp and K&L Gates served as legal counsel to Bluestone Bank.

About Mutual Bancorp

Mutual Bancorp is a financial service holding company that supports the operations and enables the missions for two community banks headquartered in Massachusetts: Cape Cod 5, headquartered in Hyannis, and Fidelity Bank, headquartered in Leominster. Together, the organization’s banks serve customers in communities across Massachusetts, with combined assets of approximately $7 billion.

About Bluestone Bank

Bluestone Bank is a community bank headquartered in Raynham, Massachusetts. Bluestone has assets of approximately $1.6 billion and serves customers across Massachusetts, Rhode Island, and New Hampshire.