On February 15, 2024, Hometown Financial Group, Inc., the holding company for bankESB, bankHometown, and Abington Bank, and North Shore Bancorp, the holding company for North Shore Bank, announced their agreement for North Shore Bank to become a wholly-owned subsidiary of Hometown Financial Group and merge with Abington Bank, with North Shore Bank as the surviving entity.
Read More...On February 7, 2024, Empeople Credit Union, Moline, Illinois, announced that it had entered into a purchase and assumption agreement with TSB Bank, Lomira, Wisconsin. Pursuant to the agreement, Empeople Credit Union will purchase substantially all assets and assume substantially all liabilities of TSB Bank. Following the completion of the transaction, TSB Bank will dissolve and liquidate, and all remaining assets will be distributed to the shareholders of TSB Bank. The combined institution will have approximately $2.2 billion in assets.
Read More...On January 31, 2024, Oconee Federal Savings and Loan Association (“Oconee Federal”), Seneca, South Carolina, completed its acquisition of Mutual Savings Bank, Hartsville, South Carolina. In addition, Oconee Federal’s holding company, Oconee Federal Financial Corp., issued $3.2 million of stock to its mutual holding company parent, Oconee Federal, MHC, as consideration for the transaction based upon an appraised value of Mutual Savings Bank.
Read More...On January 25, 2024, Mid-Southern Bancorp, Inc. and its wholly-owned subsidiary, Mid-Southern Savings Bank, FSB, announced the signing of a definitive purchase and assumption agreement with Beacon Credit Union, pursuant to which Beacon Credit Union will acquire the assets and assume the liabilities of Mid-Southern Savings Bank, FSB in an all cash transaction.
Read More...On January 9, 2024, Catskill Hudson Bank, Kingston, NY and its parent company, Catskill Hudson Bancorp, Inc., announced the signing of a definitive merger agreement with Hudson Valley Credit Union, Poughkeepsie, NY, pursuant to which Catskill Hudson Bank will merge with and into Hudson Valley Credit Union, with Hudson Valley Credit Union as the surviving institution in a series of transactions. Pursuant to the merger agreement, stockholders of Catskill Hudson Bancorp, Inc. will receive $40.50 in cash for each share of common stock held, representing an aggregate purchase price of approximately $28.6 million.
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