CFSB Bancorp completes merger with Hometown Financial Group, delists from Nasdaq

CFSB Bancorp, Inc. (NASDAQ:CFSB) has completed its merger with Hometown Financial Group, Inc., effective Friday, according to a statement filed with the Securities and Exchange Commission. The transaction was executed under the terms of a merger agreement dated May 20, 2025. The $90.18 million market cap company has seen its stock surge 111.11% over the past year, according to InvestingPro data.

As a result of the merger, shareholders of CFSB Bancorp are entitled to receive $14.25 in cash for each share of CFSB Bancorp common stock they hold. This price represents CFSB’s 52-week high and a substantial 122% premium over its 52-week low of $6.41. Following the merger, Colonial Federal Savings Bank, a wholly owned subsidiary of CFSB Bancorp, was merged into North Shore Bank, a Co-Operative Bank, which is a subsidiary of Hometown Financial Group.

CFSB Bancorp no longer meets the listing requirements of the Nasdaq Stock Market. The company has notified Nasdaq to suspend trading of its common stock and requested removal of its listing, effective after the market closed on Friday. Hometown Financial Group, as the successor to CFSB Bancorp, intends to file the necessary forms with the SEC to deregister the common stock and suspend CFSB Bancorp’s reporting obligations under the Securities Exchange Act.

Upon completion of the merger, all directors and executive officers of CFSB Bancorp ceased serving in those roles. The company’s charter and bylaws also ceased to be in effect.

This article is based on a statement filed with the Securities and Exchange Commission.

In other recent news, CFSB Bancorp, Inc. and Hometown Financial Group, Inc. have announced the receipt of necessary regulatory approvals for their planned merger. The approvals came from the Board of Governors of the Federal Reserve System and the Massachusetts Division of Banks. This merger will involve Colonial Federal Savings Bank, a wholly owned subsidiary of CFSB Bancorp, merging into North Shore Bank, which is a subsidiary of Hometown Financial Group. Following the merger, North Shore Bank will be the surviving entity. These developments were disclosed in a press release and a filing with the Securities and Exchange Commission. The merger marks a significant step forward for both financial institutions as they move towards consolidation. This news is part of the recent developments concerning CFSB Bancorp and Hometown Financial Group.

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