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CFSB Bancorp, Inc. (NASDAQ:CFSB) and Hometown Financial Group, Inc. announced Tuesday that they have received the necessary regulatory approvals from the Board of Governors of the Federal Reserve System and the Massachusetts Division of Banks to complete their planned merger. The announcement was made in a press release statement and disclosed in a filing with the Securities and Exchange Commission. The news comes as CFSB’s stock trades near its 52-week high of $14.24, having delivered an impressive 110% return to investors over the past year.
As part of the transaction, Colonial Federal Savings Bank, a wholly owned subsidiary of CFSB Bancorp , will merge with and into North Shore Bank, a wholly owned subsidiary of Hometown Financial Group. North Shore Bank will be the surviving entity.
The companies stated that they expect the merger to close on October 31, 2025, pending the satisfaction of customary closing conditions.
Shareholders of CFSB Bancorp approved the merger at a special meeting held on September 16, 2025.
CFSB Bancorp is based in Quincy, Massachusetts, and its common stock is listed on the Nasdaq Stock Market under the symbol CFSB. The information in this article is based on a press release statement and a filing with the Securities and Exchange Commission.
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