CFSB Bancorp, Inc., the holding company for Colonial Federal Savings Bank, has announced a definitive merger agreement with Hometown Financial Group, Inc., the holding company for bankESB, bankHometown, and North Shore Bank. Under the terms of the agreement, CFSB shareholders will receive $14.25 in cash per share, valuing the transaction at approximately $44 million. The merger, expected to close in the fourth quarter of 2025, will result in Colonial Federal Savings Bank merging into North Shore Bank, creating a $3.3 billion bank with 29 retail locations across Massachusetts and southern New Hampshire. Colonial Federal's branches in Quincy, Holbrook, and Weymouth will become part of North Shore Bank. This transaction marks the eighth strategic merger for Hometown Financial Group in the past decade.
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