Rosedale Bank has assumed deposits and certain other liabilities and purchased deposit account overdrafts, overdraft lines of credit, and certain other assets of Eastern Savings Bank FSB. Other than the overdrafts, no loans have been purchased by Rosedale in the transaction.
Olsen Palmer LLC served as financial advisor to Rosedale Bank.
With the consummation of the transaction, the purchased assets and assumed deposits have been incorporated into existing Rosedale locations. Rosedale continues to operate 13 full-service branches. As of June 30, Rosedale had total assets of $1.3 billion and total deposits of $1.0 billion.
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