Press Release
March 31, 2025
Massachusetts Division of Banks Conversion Notice
COMMONWEALTH OF MASSACHUSETTS
DIVISION OF BANKS
ASSABET VALLEY BANCORP (ASSABET VALLEY), Hudson, Massachusetts has filed an application with the Division of Banks (Division) to convert from a Massachusetts-chartered mutual holding company into stock holding company form pursuant to Massachusetts General Laws chapter 167H, section 9. ASSABET VALLEY is the holding company for AVIDIA BANK, Hudson, Massachusetts. As part of a multi-step transaction, the proposed conversion would include the sale of stock to depositors of AVIDIA BANK in a subscription offering and possibly to the public, if applicable, in accordance with the Division’s stock conversion regulations 209 CMR 33.00 et seq. and pursuant to ASSABET VALLEY’s Plan of Conversion.
Any comments concerning this application must be communicated in writing to the Commissioner of Banks and may be filed by electronic mail to [email protected] prior to the close of business on Thursday, May 1, 2025. Written comments may also be mailed to the Division of Banks’ Boston office located at One Federal Street, Suite 710, Boston, Massachusetts 02110-2012.
ASSABET VALLEY’s application, and all communications relative to the application, will be made available for public inspection at the main office of AVIDIA BANK, 42 Main Street, Hudson, Massachusetts 01749 and from the Division by request at [email protected].
MARY L. GALLAGHER
Commissioner of Banks