From left: Greg McConahey and Rhonda Stephens of The New Hampshire Trust Co., New Hampshire Mutual Bancorp President and CEO Gregg Tewksbury, Mike Rafferty of The New Hampshire Trust Co., MillRiver Wealth Management President Paul Provost and Savings Bank of Walpole President Mark Bodin pose for a photo celebrating a deal creating New Hampshire Trust & Wealth Management. Photo courtesy of MillRiver Wealth Management.

MillRiver Wealth Management, an affiliate of New Hampshire Mutual Bancorp, announced today it has signed an agreement to purchase The New Hampshire Trust Co., based in Keene.

The companies plan to combine with Savings Bank of Walpole’s wealth management division to form New Hampshire Trust & Wealth Management. The name change is expected next year.

MillRiver Wealth Management and SBW Wealth Management are already affiliated as the locally-focused investment and wealth management divisions of New Hampshire Mutual Bancorp (NHMB), along with NHMB’s independently managed mutual banks: Meredith Village Savings Bank, Merrimack County Savings Bank and Savings Bank of Walpole.

Under the new affiliation, existing staff at the three companies will remain with New Hampshire Trust & Wealth Management, working in their current locations. Paul Provost, currently President of MillRiver Wealth Management, will retain that title with the newly named firm.

“One of the benefits of this alliance is the ability to tap into the leadership and expertise that Paul brings to our organization as a visionary, customer-focused investment professional,” New Hampshire Mutual Bancorp President and CEO Gregg Tewksbury said in a statement. “Paul is also committed to our unique ability to provide expert, localized wealth management services throughout New Hampshire – most importantly, in the individual communities served by our sister banks.”

Long-term stability was a key consideration in the merger.

“Based on the people behind New Hampshire Mutual Bancorp, and on their steadfast commitment to local, mutual banking values, we see this affiliation as a tremendous way to enhance the services we can provide – and to ensure long-term stability for our customers, our staff and our communities,” Mike Rafferty co-president of the New Hampshire Trust Co., said in a statement..

The relationship will become effective upon final regulatory approval, which is expected to occur in January of 2020.