George Tetler Quoted in Worcester Business Journal’s “Strong economy helped Central Mass. banks, and mergers gave two an extra boost”
Banks in Central Massachusetts have recently seen a positive change in growth, which is a result of increasing deposits and the booming economy. Bowditch partner George Tetler spoke with the Worcester Business Journal with his perspective:
A few generations ago, practically each town would have its own savings bank, giving a local flavor to each institution, said George Tetler, a lawyer with the Worcester law firm Bowditch & Dewey, who works with area banks on merger and acquisition issues.
“Each town appreciated having its own bank. There was a sense of pride about it,” Tetler said.
Like any industry, banks have to create economies of scale. As a result, experts say, consolidation will continue in the banking industry. George Tetler commented:
Even still, the decision is largely up to the banks themselves, Tetler said.
Continue reading “Strong economy helped Central Mass. banks, and mergers gave two an extra boost” on the Worcester Business Journal website.