On February 6, 2019, Abington Bank, Abington, Massachusetts, and Pilgrim Bank, Cohasset, Massachusetts, a member of the multi-bank mutual holding company, Hometown Financial Group, MHC, announced that Abington Bank will merge into Pilgrim Bank. Upon completion of the merger, the combined institution will have approximately $600 million in total assets and will operate as an independent subsidiary of Hometown Financial Group, MHC’s subsidiary, Hometown Financial Group, Inc.
Luse Gorman serves as legal counsel to Abington Bank in the transaction. The Luse Gorman team consisted of Kent M. Krudys, Lawrence M.F. Spaccasi and Michael J. Brown (Corporate/M&A), and Thomas P. Hutton (Executive Compensation).
Abington Bank is a Massachusetts co-operative bank with its main office in Abington, Massachusetts, and two additional branch offices in Avon and Holbrook, Massachusetts.
Pilgrim Bank is a Massachusetts co-operative bank headquartered in Cohasset, Massachusetts, and has two additional branch offices in Cohasset and Marion, Massachusetts.