Welcomes Colonial Federal Savings Bank into North Shore Bank
EASTHAMPTON, Mass. and PEABODY, Mass., Nov. 1, 2025 /PRNewswire/ -- Hometown Financial Group, Inc., the multibank mutual holding company for bankESB, bankHometown, North Shore Bank, and Abington Bank, a division of North Shore Bank, has completed its acquisition of CFSB Bancorp, Inc., the bank holding company for Colonial Federal Savings Bank. The Colonial Federal branches will operate as a division of North Shore Bank.
"We're thrilled to welcome Colonial Federal employees and customers into the North Shore Bank and Hometown Financial Group family," said Hometown Financial Group Chairman and CEO Matthew S. Sosik. "As we grow our presence in eastern Massachusetts, solidify our already formidable branch network on the South Shore, and introduce our unique brand of community banking to the customers and employees of Colonial Federal, we look forward to introducing the Colonial Federal family to all the products, services and locations to help unlock their potential."
North Shore Bank now has $3.3 billion in assets and 29 branches in eastern Massachusetts, including 15 on the North Shore and 14 on the South Shore, which includes 10 existing Abington Bank locations and four Colonial Federal locations in Quincy, Holbrook, and Weymouth.
"We look forward to getting to know the Colonial Federal customers, employees, and their communities in the months ahead," said North Shore Bank President and CEO Michael R. Wheeler. "We're passionate about fulfilling our promise to deliver individualized financial solutions and new digital banking tools and technology at an even greater convenience."
Wheeler added, "As we fully bring our organizations together operationally next spring, we look forward to extending our premier commercial and business deposit, lending, and Cash Management products to an even greater number of South Shore business communities. At the same time, joining forces will enable us to broaden our commitment to giving back to the communities we serve through our charitable giving program, The Giving Tree."
The transaction expands Hometown Financial Group's market presence in eastern Massachusetts, bringing consolidated assets to $6.9 billion with 56 branches located throughout Massachusetts, northeastern Connecticut, and southern New Hampshire.
This transaction is the eighth strategic merger for Hometown Financial Group in the last 10 years.
About Hometown Financial Group
Hometown Financial Group, Inc. is a $6.9 billion multibank mutual holding company headquartered in Easthampton, Massachusetts, and the parent company of bankESB, bankHometown, North Shore Bank, Hometown Mortgage, and North Shore Bank's Abington Bank and Colonial Federal Savings Bank divisions. Together, our banks offer consumer and business banking products and services through 56 locations throughout Massachusetts, northeastern Connecticut, and southern New Hampshire. We leverage the size, scale, and efficiencies of shared, centralized resources to fulfill our community banking mission—providing individualized financial support, comprehensive products and services, smart banking technology, and increased lending capacity—to ensure our customers can unlock their potential and build a successful future.
Hometown Financial and our banks were recognized as one of Forbes' "America's Best-in-State Banks," a three-time USA TODAY Top Workplaces award winner, and a top place to work by The Boston Globe and Hartford Courant. Through our charitable giving program, The Giving Tree, Hometown Financial's banks and foundations support non-profit organizations and causes throughout the communities we serve. In 2024, The Giving Tree donated more than $1.6 million and over the past decade donated more than $11 million. HFG banks were named Corporate Citizenship Award winners by Boston Business Journal, reaffirming our status as one of Massachusetts' most charitable companies. For more information, visit bankHFG.com.
About North Shore Bank
North Shore Bank is headquartered in Peabody, Massachusetts and have served the community for more than 100 years. We have $3.3 billion in assets and offer a complete line of consumer and business deposit and lending products and services through 29 locations throughout eastern Massachusetts and southern New Hampshire. We're proud to fulfill our community banking mission—providing individualized financial support, comprehensive products and services, and smart banking technology—to ensure our customers can unlock their potential and build a successful future.
Through our charitable giving program, The Giving Tree, we support non-profit organizations and causes throughout the communities we serve. In 2024, The Giving Tree donated nearly $770,000 and over the last decade donated more than $4.5 million. We were named a Corporate Citizenship Award winner by Boston Business Journal, reaffirming our status as one of Massachusetts' most charitable companies. For more information, visit NorthShore-Bank.com.
CONTACT:
Hometown Financial Group, Inc.
North Shore Bank
Colonial Federal Savings Bank, a division of North Shore Bank
Dena M. Hall, Executive Vice President, Chief Retail Banking and Marketing Officer
413.779.2215 | [email protected]
SOURCE Hometown Financial Group, Inc.
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