Bank merger approved by customers

February 8, 2008
By

John Ruch

Roxbury Highland Bank of Jamaica Plain depositors voted to approve a merger with South Boston’s Mt. Washington Bank on Thursday night.

The Feb. 7 vote was 27 to 1 in favor of the merger, according to Roxbury Highland board chair Thomas Carrigg.

Under the merger, the 119-year-old bank at 515 Centre St. would become a branch of Mt. Washington. Both institutions are mutual or cooperative banks, meaning they are entirely owned by their depositors.

The merger still needs approval from Mt. Washington depositors—who are scheduled to vote on Tuesday—and from federal and state banking regulators.