In January 2017, Billy Taylor and Pat Brown tossed around starting a finance company. Together, they have a background in the financial services industry, with Pat having previously been a partner at Tate Farms for more than 21 years. Today, Hometown Finance offers small loans to everyday people, from credit cards to mortgages. The founders plan to grow the company with their expertise and reach. Despite this success, they will need your support.
Hometown Financial Group is a $3.0 billion mutual holding company.
Millbury Savings Bank has agreed to merge with bankHometown, creating a combined $1 billion institution with fifteen branches in Windham and Worcester counties. The merger is expected to close in the fourth quarter of 2019. The combined institution will operate 32 branch locations, with approximately $3 billion in assets. The combined institution will be a member of Hometown Financial Group, a multi-bank holding company that realizes synergies by pooling management resources. Member banks share resources for marketing, asset/liability management, information technology, compliance, and more.
The combined institution will be led by Andrew J. Raczka, the current CEO of Abington Bank. The combined entity will operate six branches in five towns and have approximately $600 million in assets. The CEO and President of Hometown Financial Group will remain in their current positions. Sullivan will also join the company. In addition, the combined entity will have a Wall Street Prep program to prepare undergrads and professionals for careers in investment banking.
It has merged with Citizens National Bancorp.
Old Point Financial Corporation and Citizens National Bank merger has been completed. Both banks will merge into The Old Point Bank of Phoebus, which will have approximately $1 billion assets. The deal is the result of the combined efforts of both companies, including a Williams Mullen Community Banking team. However, there are some things to remember before voting. The documents provided by Citizens National are important for shareholders to understand.
The bank started in 1828 in Providence, Rhode Island. It later acquired its parent group, Citizens Trust Company, and expanded through Rhode Island, opening 29 branches. In 1954, Citizens Savings Bank changed its status from a mutual savings bank to a federal stock savings bank. In 1985, Citizens Savings Bank expanded into Massachusetts, and in 1986, it became a wholly-owned subsidiary of Citizens National Bancorp, MHC.
It has merged with Millbury Savings Bank.
Hometown Financial Group (HFG) of Easthampton, Massachusetts, has acquired Millbury Savings Bank, a mutual bank based in Oxford, Massachusetts. The two banks will now have approximately $1 billion in assets and 15 branch offices. Both Millbury and Hometown are mutual companies, which means that all the bank’s owners will become owners of the new company. Sosik said the merger makes sense for local banks. Regulations are becoming more stringent, and consumers demand modern technology. Moreover, merging back-office operations makes sense.
Hometown Financial Group’s Matthew S. Sosik is the new CEO. Morton will be joining the board of directors of both companies. The combined bank will be headquartered in Oxford, Massachusetts. The combined bank will benefit from the combined resources of a larger institution while still operating independently within the same market area. The merger is expected to close in the fourth quarter. Sosik has greeted employees and customers of Millbury Savings Bank.
It has merged with Abington Bank.
Hometown Financial Group has announced that Pilgrim Bank and Abington Bank have merged. Combined, these two Massachusetts banks have more than $600 million in assets and ten branches on the South Shore. The combined bank will operate six full-service branches and share resources with the other banks under the Hometown umbrella. This merger is good news for residents. The combined bank is expected to grow to over $600 million in assets by year-end.
Both banks’ boards of directors have approved the merger. While it is expected that the bank’s new name and logo will be similar, the Abington and Penn Community logos will be similar. The Abington Bank logo will be on the front of the new bank’s logo. The new name is Chelten Hills Bank. The Abington branch will be the first branch in Montgomery County. The merger is expected to close by the end of next year.
