August 4, 2025
On July 31, 2025, Assabet Valley Bancorp, the mutual holding company of Avidia Bank, completed its mutual-to-stock conversion and Avidia Bancorp, Inc., the new stock holding company of Avidia Bank, completed its initial public offering by selling 19,176,250 shares of its common stock at $10.00 per share. As part of the transaction, Avidia Bancorp also funded a newly established charitable foundation with a $10.0 million contribution of cash and stock. Avidia Bancorp’s common stock is listed on the New York Stock Exchange under the symbol “AVBC.”
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August 1, 2025
On July 31, 2025, Security Bank, s.b. completed its mutual-to-stock conversion and Security Midwest Bancorp, Inc., the new stock holding company of Security Bank, completed its related initial public offering by selling 889,781 shares of its common stock at $10.00 per share. Security Midwest Bancorp’s common stock is quoted on the OTCQB Market under the symbol “SBMW.”
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July 29, 2025
On July 23, 2025, Cornerstone Bank, Spencer, Massachusetts, a subsidiary of PeoplesBancorp, MHC, Holyoke, Massachusetts, entered into a merger agreement pursuant to which Athol Savings Bank, Athol, Massachusetts, will merge into Cornerstone Bank, with Cornerstone Bank as the surviving entity.
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July 24, 2025
On July 23, 2025, ESSA Bancorp, Inc., Stroudsburg, Pennsylvania, the holding company for ESSA Bank & Trust, completed its merger with CNB Financial Corporation, Clearfield, Pennsylvania, the holding company for CNB Bank.
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July 23, 2025
On July 21, 2025, San Francisco Federal Credit Union (“SFFCU”), San Francisco, California, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Summit Bank (“Summit”), Oakland, California.
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