Subjects: TNM, PER
bankHometown completes merger with Millbury Savings Bank and welcomes Robert J. Morton as President and CEO
OXFORD, Mass., Oct. 21, 2019 /PRNewswire/ -- Matthew S. Sosik, CEO of Hometown Financial Group, announced today that Oxford, Massachusetts-based bankHometown has completed its merger with Millbury Savings Bank. Robert J. Morton, President and CEO of Millbury Savings Bank, has been appointed President and CEO of bankHometown.
"We are excited to welcome Rob and the Millbury Savings Bank employees and customers to the bankHometown family," Sosik said.
bankHometown now has $1 billion in assets and 15 branches located throughout central Massachusetts and northeastern Connecticut. The Bank plans to open a new branch on Grove Street in Worcester in early 2020. Sosik, former President and CEO of bankHometown, will continue as CEO of Hometown Financial Group and President and CEO of bankESB. Both are headquartered in Easthampton, Massachusetts.
"I look forward to getting to know the bankHometown customers and communities in the months ahead," Morton said. "I am passionate about fulfilling the promise of true local, community banking, providing top-notch customer service, reinvesting deposits in loans that support local economic growth and job creation, and giving back generously to communities we serve through charitable donations and volunteerism."
The merger with Millbury Savings Bank marks the third transaction closed in 2019 for Hometown Financial Group. On January 31st, the company closed on its acquisition of Pilgrim Bancshares, Inc. This was followed by the merger of Abington Bank and Pilgrim Bank on May 17th. The closing of that transaction resulted in the formation of a $600 million bank with six branches operating in eastern Massachusetts.
About bankHometown
bankHometown was founded in 1889 and is headquartered in Oxford, Massachusetts. bankHometown has $1.0 billion in assets and 15 branches located throughout central Massachusetts and northeastern Connecticut. Through its sponsorship and charitable giving program, bankHometown and the Hometown Bank Community Foundation support non-profit organizations and causes throughout Worcester and Windham Counties. In 2018, the Bank and Foundation donated more than $200,000 to over 110 organizations. For more information, visit bankhometown.com.
About Hometown Financial Group, Inc.
Hometown Financial Group, Inc. is a $3.0 billion mutual multi-bank holding company headquartered in Easthampton, Massachusetts and is the parent company of bankESB, bankHometown and Abington Bank. These separate and distinct banking franchises offer a complete line of consumer and business deposit and lending products through its 32 branch offices located throughout Massachusetts and northeastern Connecticut. For additional information about Hometown Financial Group, please visit www.bankhfg.com.
For more information, please contact:
Hometown Financial Group
Dena M. Hall
Chief Marketing Officer
(413) 779-2215
SOURCE Hometown Financial Group, Inc.
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