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What’s Behind bankESB’s Pending Name Change to TruNorth Bank

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All Together Now

Dig into the term ‘true north,’ and you’re bound to find multiple definitions — at least when used metaphorically.

The phrase can refer to finding a sense of purpose, or pursuing an important goal, or even adhering to one’s true values.

All of that resonates with the leadership team at Hometown Financial Group that chose the name TruNorth Bank — which, later this year, will be the new name of Hometown’s family of banks.

It is, in fact, the name above the door (and on the checks) at the former North Shore Bank and Abington Bank, two Hometown acquisitions in Eastern Mass.; later this year, bankESB and bankHometown will undergo the same name change, casting a single identity across Hometown Financial’s network of 55 branches.

Matthew Sosik, president and CEO of bankESB and CEO of Hometown Financial Group, said the multi-name approach wasn’t sustainable, so the holding company set out to find a new identity, which it did last year, applying it first to the aforementioned pair of Eastern Mass. banks and eventually moving to convert all of them.

“It’s a lot of work to find a brand that works for you, but we were fortunate to come up with the TruNorth brand,” he told BusinessWest.

“Here we are in little Easthampton, sleepy Easthampton, with a $7 billion company, one of the largest banks in the region, one of the most successful banks in the region. I think our financials speak for themselves.”

This month, bankESB will begin talking to customers about what the bank is doing and why, and what the transaction will look like, Sosik said, adding that the data conversion — moving from separate databases of customers at each bank to one central database — will follow.

“When we’re done with this entire project, the combined company, with the new TruNorth brand, is going to be headquartered here,” Sosik said, before stressing the significance of a Western Mass.-based bank with that kind of reach and scale.

“At $7 billion or so, we’re probably top 200 in the country, while regionally, we’re easily one of the top 10. Here we are in little Easthampton, sleepy Easthampton, with a $7 billion company, one of the largest banks in the region, one of the most successful banks in the region. I think our financials speak for themselves. And regionally, we’re one of the largest employers — all based right here in Easthampton. I think that’s a cool story.”

Sosik said the official transaction is slated for Aug. 21 if everything goes smoothly.

“Obviously, we have separate bank boards, and communicating the rationale to our bank boards and then ultimately our staff, communicating what our strategy was, was all a big part of that. But now we have the green light.

“You might have seen the public notice of our application to merge the banks and rebrand as TruNorth,” he added. “That’s still pending with the two regulatory bodies, the Division of Banks and the Federal Reserve, but we’re not anticipating any issues with that. It’s an internal merger; it’s not something that would particularly catch their attention. So we expect approvals from them within a reasonable time.”

Sosik said he understands that people get nervous about name changes over bank doors. “They go, ‘wait, who’s buying whom?’ Obviously, there’s none of that here, but still people get anxious about it. In fact, it’s a converse story to that — we are pulling this company together, from Boston to Easthampton, and keeping it right here in Easthampton.”

Changes will be minimal for customers, he noted. “Obviously, there will be a new sign over the door and a new debit card with the TruNorth logo. The logo looks similar to bankESB’s and Hometown’s, just with that new TruNorth name. And the mobile app will have a new look to it. But other than that, it’s the same places, same people, new name over the door.”

“This rebrand, while it’s a name change over the door, also represents a significant nod to our history and the combined many hundreds of years of legacies within our company. We didn’t want to — and we don’t want to — forget that. We’re carrying that forward into the future with something that’s aspirational.”

And the idea is to make the transition as seamless as possible for those customers, he added.

“We have an unbelievable team that pulls everything together each time we do one of these. So this one will be no different — except this one’s a lot easier because it’s all internal,” he said.

Meanwhile, from that internal perspective, operating under one brand and one database will make the company easier to manage, he added. “We have been happy to run our multi-bank company, but this company will be a simpler day-to-day operation for us.”

Steady On

As for the TruNorth name, Sosik is grateful the team wound up with a name he considers apt and meaningful.

“Branding is important. And the reality is, in today’s world, in this day and age, unless you’re just going to pick a bunch of consonants and run them together, everything’s pretty much been used or taken in some fashion or form. At the onset of a project like this, a huge governor of where you can go is simply what’s available,” he explained.

“That said, we didn’t want just a word or a name that doesn’t have meaning to our present customers and our prospective customers. So we went through an exhaustive process, and when we landed on TruNorth, it was all about what that connotes to somebody who’s viewing our company, not just from an image perspective, but what do we stand for?”

What emerged was the idea of the true north directional signifying moving forward — in business growth and in the community — and expressing that idea succinctly.

“In marketing, you can’t have five-word name — you want something bite-sized, but that really does mean something and represents what this company is all about, legacy-wise, and speaks to both that legacy and a wide-open future,” Sosik went on. “So when we landed on TruNorth, that’s what it was all about for us. It just means something.

“It’ll be a change, of course. But as I said, this rebrand, while it’s a name change over the door, also represents a significant nod to our history and the combined many hundreds of years of legacies within our company,” he added. “We didn’t want to — and we don’t want to — forget that. We’re carrying that forward into the future with something that’s aspirational.”

With that, he came back to the importance of community connections in a bank’s legacy.

“Think of a vibrant New England community that is really economically successful, that does not have a community bank in it. It’s a small number, if there’s any.”

“One thing that these towns` need — and I say these towns very generically, not Easthampton only by any stretch, but every town that we’re in — they need a community bank,” Sosik said, with everything that definition entails, from the financial services business to how the institution supports local nonprofits and other organizations.

bankESB has done so consistently through its Giving Tree initiative, which distributed more than $716,000 in 2025 and more than $4.4 million over the past 10 years, with a focus on basic needs, financial literacy, economic development, youth and education, and the arts across the region.

“When we think about fulfilling those needs, we don’t think about our business like, ‘are we going to open tomorrow?’ We think about it in much larger chunks of time; at least I do, and our board does,” he added. So when the company makes a big change like the rebrand to TruNorth, “it’s all to ensure our long-term viability and relevance in every single market, Easthampton included, so that we can be here 10 years and 20 years and decades from now. That perspective really drives some of what people see as robust growth — and some might call aggressive growth. To us, it’s absolutely necessary if our goal is to be here for the long term for our communities.

“So, sometimes it takes rebrands and things like this to ensure all that. It’s all in the name of serving the very long-term needs of communities,” Sosik went on. “Think of a vibrant New England community that is really economically successful, that does not have a community bank in it. It’s a small number, if there’s any. So these community banks are super important to the success of communities in general. And, again, our goal is to be committed long-term to these communities. It takes some bold strategies and some difficult decisions, but we’re happy to do it.”

Looking Forward

After growing through multiple acquisitions, Sosik said bankESB — well, TruNorth — isn’t done, though no news of that nature is expected over the next several months.

“We obviously have a full plate of stuff here; you have a certain level of capacity, and you respect that; you don’t stretch it too far, so 2026 is spoken for. But we are working on other projects that will continue to grow us in size and footprint. We’ll have some really cool stuff going on for 2027.”

And that growth is necessary, he said, to provide the kind of scale necessary to be profitable in what he described as a low-margin business. The latest move to the TruNorth name is simply a way to become more efficient as well.

“Our multi-bank holding company strategy served us really well; it’s allowed us to to attract like-minded independent bankers. And now is the time to put it all together, to gain the rest of those cost efficiencies, so we’re getting that,” Sosik explained. “This gives us a jumping-off point to continue to grow, and, as I said, we have some really interesting projects heading into 2027 that’ll allow us to do that. So there’s lots of bright sunshine ahead in our news feed.”  

bankESB Parent Wins 2026 USA TODAY Top Workplaces Award

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Daily News

EASTHAMPTON — bankESB’s parent company, Hometown Financial Group, announced it has earned the 2026 USA TODAY Top Workplaces award for the fourth time in five years.

The award honors organizations with 150 or more employees that have created exceptional, people-first cultures. This year, more than 42,000 organizations were invited to participate. The winners are recognized for their commitment to fostering a workplace environment that values employee listening and engagement.

The winners are determined by authentic employee feedback captured through a confidential survey conducted by Energage, the HR research and technology company behind the Top Workplaces program since 2006. The results are calculated based on employee responses to statements about workplace experience.

“We’re incredibly proud to receive the 2026 USA TODAY Top Workplaces Award,” said Matthew Sosik, Hometown Financial Group chairman and CEO and bankESB president and CEO. “What makes this recognition especially meaningful is that it’s based on feedback from our employees. Their dedication and the way they support each other every day are what truly earned us this honor. They are committed to unlocking potential — in our people, in our customers, and in the communities we’re privileged to serve.”

Eric Rubino, CEO of Energage, added that “earning a USA TODAY Top Workplaces award is a testament to an organization’s credibility and commitment to a people-first culture. This award, driven by real employee feedback, is more than just a recognition — it’s proof that your employees believe in the organization and its leadership. Job seekers and customers look for this trusted badge of credibility and excellence. It signals a company that values its people, and that kind of culture resonates in today’s competitive market.”

Hometown Financial Group Welcomes H. Scott Sanborn

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Daily News

H. Scott Sanborn

EASTHAMPTON — Hometown Financial Group, the multi-bank holding company for bankESB, bankHometown, and North Shore Bank, and its Abington Bank and Colonial Federal Savings Bank divisions, announced the appointment of H. Scott Sanborn as its new executive vice president, chief commercial banking officer. He brings 36 years of banking experience to the role, along with a strong record of leadership, community involvement, and commercial banking expertise.

In his new role, Sanborn will oversee all aspects of commercial banking across Hometown Financial Group’s family of banks, including commercial lending, relationship development, and strategic growth.

Sanborn, a respected local leader on the South Shore and Metro South, will be based in Abington Bank’s Holbrook location. His long-standing involvement in the community and deep understanding of the local market will enhance the bank’s presence and further strengthen its commitment to serving customers. He brings deep knowledge of the region’s communities, businesses, and local priorities, and his strong local relationships and commitment to supporting the needs of residents and businesses will help advance the bank’s strategic growth across the region.

Sanborn, most recently with HarborOne Bank, served as executive vice president, chief lending officer. His distinguished career also includes senior leadership roles at TD Bank, Sovereign Bank, and Fleet Bank, where he helped guide business banking teams, commercial lending strategies, and regional growth initiatives.

“We are thrilled to welcome Scott to the Hometown Financial leadership team,” said Matthew Sosik, chairman and CEO of Hometown Financial Group. “His extensive background in commercial banking, combined with his passion for developing strong customer relationships, aligns perfectly with our mission and values. We look forward to the impact he will make across our banks and for the businesses we serve.”

Sanborn holds a bachelor’s degree in international politics from Wesleyan University and a master’s degree in entrepreneurship and finance from Babson College. Throughout his career, he has demonstrated a deep commitment to the community, serving on numerous boards and committees, including the Spirit of Adventure Council – Scouting America, New England Certified, the Metro South Chamber of Commerce, and the United Way leadership campaign and fundraising committee. He has also contributed his leadership to the Greater Boston Chamber of Commerce and the Emerging Leaders Program at the University of Massachusetts.

Hometown Financial Group Names Reed Whitman Executive VP, CFO

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Daily News

Reed Whitman

EASTHAMPTON — Hometown Financial Group, parent company of bankESB; bankHometown; North Shore Bank; Abington Bank, a division of North Shore Bank; and Hometown Mortgage, hired Reed Whitman as executive vice president and chief financial officer.

Whitman joins Hometown Financial from Brookline Bancorp Inc., where he most recently was treasurer of the $11.5 billion holding company. Whitman brings specific expertise in community banking organizations that operate within the multi-bank holding-company structure, as well as more than two decades of experience that includes leading transformational mergers and acquisitions, balance-sheet restructuring, new business pitches, and process redesign and execution.

Whitman assumed the position earlier this month, ahead of the retirement of Gilbert Ehmke, who served as Hometown Financial Group’s senior executive vice president, chief financial officer, and treasurer for nearly 10 years.

President and CEO Matthew Sosik said Whitman’s understanding of the organization’s business model will be a tremendous asset to Hometown Financial and its continued strategic growth.

“Reed’s extensive experience in financial strategy, scaling operations, and transformative mergers and acquisitions will play a pivotal role in ensuring our company is poised for continued financial success while allowing our banks to focus on sustained growth in their individual markets,” Sosik said. “At the same time, we’re grateful to Gil for his years of dedication to Hometown Financial, driving years of strong financial performance and solidifying our position as one of the largest mutual bank holding companies in the country. We congratulate Gil and wish him well in his retirement.”

Added Whitman, “I look forward to working with everyone at Hometown Financial to have a hand in ensuring the organization remains able to execute its long-term growth strategy. I’m excited to play a significant role in helping Hometown Financial remain a leading player in the region’s financial landscape.”

Hometown Financial Group Continues Course of Acquisition

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Matt Sosik
Banking and Financial Services

Branching Out — Again

Matt Sosik

Matt Sosik says Hometown’s latest acquisition is part of an ongoing initiative to gain needed size and extend the institution’s footprint.

 

Matt Sosik referred to it as a “mutual admiration society.”

That’s how he chose to describe the respect that he developed for the manner in which Kevin Tierney had grown North Shore Bank into a force in that region of the Commonwealth and, likewise, how Tierney respected what Sosik had done with Easthampton-based Hometown Financial Group, using acquisition and organic growth to transform it into a $4.7 billion multi-bank holding company with a reach that extends across Western and Central Mass., the South Shore, and into Northeastern Conn.

This mutual admiration eventually became the catalyst for talks to bring the institutions together, said Sosik, chairman and CEO of Hometown Financial, adding that North Shore will become part of the Hometown family of banks through a merger of Abington Bank, acquired by Hometown in 2019, into North Shore.

The combined bank will have more than $3 billion in assets and 25 full-service retail locations across the Bay State’s North and South Shore regions and Southern New Hampshire. Meanwhile, Hometown will become, with more than $6 billion in assets, one of the largest mutual banks in the country, said Sosik, adding that the merger gives the group more of what banks need in this challenging day and age — size.

“Margins have been falling steadily, and the only way to beat that back and try to win that battle is drive down costs, at least on the average.”

Indeed, when asked what greater size — $6.4 billion in assets compared to $4.7 billion — provides, Sosik started by saying simply, “survival.”

“Margins have been falling steadily, and the only way to beat that back and try to win that battle is drive down costs, at least on the average,” he explained. “So scale is the way to achieve that; when you put more assets under one roof and achieve more efficiencies, you’re driving down per-asset costs, and that’s what this business model tries to attain.

“We want to use that $6.5 billion chassis that’s headquartered in Easthampton to run the back offices of all of our three subsidiary banks,” he went on, listing bankESB, bankHometown in Central Mass., and the soon-to-be-much-larger North Shore Bank. “We can liberate those banks to do what they do best, which is use the power of their local brand in their communities they’re serving and let the shared service model of the holding company do the grungy stuff to produce efficiencies.”

That business model he mentioned has been an aggressive course of acquisitions that makes sense on every level, but especially those involving new opportunities for achieving growth and diversity when it comes to markets and regional vibrancy.

For this issue and its focus on banking & financial services, we take an in-depth look at the latest of these acquisitions for Hometown Financial and what it means for the institution moving forward.

 

Another Transaction of Note

As he talked about Hometown’s latest expansion effort, Sosik broke it down into two parts, essentially.

The first is the merger of North Shore into Hometown Financial Group, and then the merger of two of its subsidiary banks, North Shore and Abington, under the North Shore banner — although the Abington name will live on.

Putting those two institutions together under one roof, if you will, gives Hometown a dynamic presence in the eastern part of the state, which, like Western Mass. — and all corners of the state, for that matter — is a highly competitive region charactized by a strong mix of local, regional, and national banks, Sosik said.

Elaborating, he noted that the joining of Abington and North Shore brings a number of benefits, everything from resolution of succession issues at Abington — long-time President and CEO Andrew Raczka is entering retirement — to needed size and scale for North Shore.

“For North Shore, this makes a lot of sense strategically because they’re going to expand their footprint around Boston, gain market share … all the important things,” Sosik told BusinessWest. “But they’re also sliding underneath this $6.5 million company. They’re going to get to run their bank, and yet they can have their cake and eat it too in the sense that they’ll have access to our shared services and gain the efficiences of a much larger company. The benefits are the same for us — ensuring long-term viability and relevance in a very slim-margin industry.”

Rewinding the tape, Sosik said the talks between him and Tierney began just over a year ago and accelerated over the past few months. The merger was announced early last month, and the transaction is anticipated to close in the second half of this year.

It is the latest of seven strategic mergers for Hometown Financial Group over the past nine years, an aggressive pattern of acquisition that has taken the institition well beyond the 413. Indeed, its reach now extends across most of the state into neighboring Connecticut and New Hampshire.

Recounting those acquisitions, Sosik said they started in June 2015, when Citizens National Bancorp and its subsidiary, Citizens National Bank, merged into bankESB, which was operating at the time under the name Easthampton Savings Bank. In April 2016, Hometown Community Bancorp and its subsidiary, Hometown Community Bank, joined Hometown Financial Group to become the second subsidiary of the holding company; Hometown Community Bank has since changed its name to bankHometown. And in January 2019, Pilgrim Bancorp and its subsidiary, Pilgrim Bank, joined Hometown Financial Group.

Later that year, Abington Bank merged into Pilgrim Bank, with the name of the combined bank changed to Abington Bank, and Millbury Savings Bank merged into bankHometown. In October 2022, Randolph Bancorp and its subsidiary, Envision Bank, merged into Abington Bank, and last month, North Shore Bancorp and its subsidiary, North Shore Bank, announced plans to merge with Abington Bank; at transaction closing, Abington Bank will operate as a division of North Shore Bank.

 

Moves of Interest

This latest merger transforms North Shore into a $3.1 billion powerhouse, one of the largest mutuals in that part of the state, with reach across Eastern Mass., where, again, there are many competitors, size is an all-important asset, and meaningful, organic growth is far more attainable than it is Western Mass., which is typically described as a slow- or no-growth area.

“It’s a very competitive market, but also a very vibrant market,” said Sosik. “When you look at our demographics in the Pioneer Valley, they’re not very impressive; we love that market, and it’s very stable, but it’s not high-growth.

“It’s different in the eastern part of the state,” he went on. “In spite of the depth of the competition, it’s still a great market to be in; there are opportunites for growth.”

From a bigger-picture perspective, this latest merger provides an opportunity to take the stability of Western Mass. and juxtapose it against the “higher highs and lower lows” that define the far more dynamic eastern part of the state, he continued, adding that this diversity of regions and markets is another solid asset for Hometown Financial Group.

It’s an asset most other banks in the region are seeking as well, he said, noting that several banks in Western Mass. are pushing into Connecticut and other regions, and some Connecticut-based banks are moving north.

It’s all a function of gaining access to higher-growth areas and, overall, much-needed size, said Sosik, as he returned once again to the topics of margins — and how they became even smaller in the wake of repeated interest-rate hikes last year — and scale and the importance of attaining it.

“Banks are not built to withstand that kind of pressure,” he said in reference to climbing deposit rates and an inability to increase yields on existing loan portfolios beyond a certain point. “So you’re seeing banks in various degrees of duress becase of that predicament.”

The pace of interest-rate increases has certainly slowed, and rates may even decline somewhat this year, but this will remain a challenging climate for banks of all sizes, he went on, adding that the only course of action is to achieve greater size.

“In a low-margin business of any kind, and banking is certainly right at the top of that list, you have got to grow, or you’re going backward,” he went on. “That’s the nature of the beast. How do you acomplish that growth? We’ve chosen one model, and there are other successful pathways.”

Thus far, this model has chosen to be successful at achieving its various goals — from territorial expansion and regional diversity to much-needed scale.

And Sosik expects this pattern to continue with the acquisition of North Shore Bank.

bankESB Parent Company Wins National Top Workplaces Award

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Daily News

EASTHAMPTON — Hometown Financial Group, parent company of bankESB, announced it was named a 2023 Financial Services Industry Top Workplaces national award winner.

This award is based solely on feedback from employees of participating workplaces, gathered through an anonymous, third-party survey administered by Energage LLC, a leading provider of technology-based employee-engagement tools. Industry Top Workplaces awards celebrate organizations that have built a people-first workplace culture and mark them as an employer of choice within their sector.

This is the second year in a row that bankESB’s parent company has been recognized nationally in the financial-services industry category. The company also was named a national Top Workplaces USA winner in 2022.

“To be nationally recognized as an employer of choice in financial services is a tremendous honor, particularly since it’s the direct result of feedback from those who know us best: our employees,” bankESB President and CEO Matthew Sosik said. “I’m proud of our employees’ passion and dedication to helping our customers, our communities, and each other unlock their potential, every day. As an employer, we’re equally committed to nurturing an environment where everyone feels valued and respected, and where employees can unlock their own potential, personally and professionally.”

“Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees,” Energage CEO Eric Rubino said. “That’s something to be proud of. In today’s market, leaders must ensure that employees have a voice and are heard. That’s paramount. Top Workplaces do this, and it pays dividends.”

Hometown Financial Group Welcomes Envision Bank into Abington Bank

By
Daily News

EASTHAMPTON — Hometown Financial Group Inc., the multi-bank mutual holding company for bankESB, bankHometown, and Abington Bank, has completed its acquisition of Randolph Bancorp Inc, the bank holding company for Envision Bank. Under the agreement, the acquired Envision Bank branches have been rebranded as Abington Bank.

“We’re thrilled to welcome Envision Bank employees and customers into the Abington Bank family,” Hometown Financial Group CEO Matthew Sosik said. “As we more than double our presence in Eastern Massachusetts and expand our unique brand of community banking, we are excited to bring these combined resources to the customers and employees of Envision Bank to help unlock their potential.”

Abington Bank now has $1.4 billion in assets and 10 branches located throughout the South Shore and South Coast, adding offices in Braintree, Randolph, and two in Stoughton to its existing network of offices in Abington, Avon, Holbrook, Marion, and two in Cohasset.

“I look forward to getting to know the Envision Bank customers, employees, and their communities in the months ahead,” Abington Bank President and CEO Andrew Raczka said. “I am passionate about fulfilling our promise to deliver individualized financial solutions, enhanced smart-banking tools and technology, and increased business lending capacity. At the same time, this 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 likewise expands Hometown Financial Group’s market presence in Eastern Mass., bringing consolidated assets to $4.5 billion with 37 branches located throughout Massachusetts and Northeastern Connecticut.

“Hometown Financial Group’s focus on innovation and technology will help meet the evolving needs of customers by providing greater access to digital banking tools and an expanded branch network,” Randolph Bancorp President and CEO William Parent said. “These enhancements will improve the customer experience and create a stronger competitor in Eastern Massachusetts.”

In addition, Envision Mortgage, with offices in Braintree, North Attleboro, and Westport, will join Hometown Financial Group within the newly formed Hometown Mortgage. As a division of bankESB, a Hometown Financial Group company that also includes bankHometown and Abington Bank, Hometown Mortgage will leverage its combined strength an internal shared-services model, and investments in technology to work with borrowers and homeowners across Massachusetts, Connecticut, and neighboring states. Its mission is to make home financing simple and stress-free by helping potential borrowers unlock the right home financing solution for their unique needs. At the same time, a commitment to community banking and local roots means Hometown Mortgage can focus on the unique needs of those who live and work in the communities it serves.

Hometown Financial Group has added former Randolph Bancorp director Kenneth Quigley to both its board of directors and the board of Abington Bank. In addition, Parent will join Hometown Financial Group as its chief strategy officer.

This transaction is the sixth strategic merger for Hometown in the last seven years. In 2015, Hometown acquired Citizens National Bancorp. Inc., based in Putnam, Connecticut, then merged with Hometown Community Bancorp. MHC, the holding company for Hometown Bank, in 2016. It then acquired Pilgrim Bancshares Inc. and Abington Bank in 2019, and later that year acquired Millbury Savings Bank.

Hometown Financial Group to Acquire Randolph Bancorp Inc.

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Daily News

EASTHAMPTON — Hometown Financial Group Inc., the multi-bank holding company for bankESB, bankHometown, and Abington Bank, has entered into a definitive merger agreement by which Hometown will acquire Randolph Bancorp Inc., the bank holding company for Envision Bank.

Under the terms of the merger agreement, which has been unanimously approved by both boards of directors, Randolph shareholders will receive $27 in cash for each share of Randolph common stock. The total transaction value is approximately $146.5 million. The merger is anticipated to close in the fourth quarter of 2022, subject to certain conditions, including the receipt of required regulatory approvals, shareholder approval, and other standard conditions. Randolph’s directors and executive officers who currently own, in the aggregate, approximately 7.65% of Randolph’s outstanding common shares have signed voting agreements pursuant to which they have agreed to vote their shares in favor of the merger.

As a result of the transaction, Envision Bank will merge with and into Abington Bank to create a $1.4 billion bank with 11 full-service retail locations across the South Shore, including the towns of Abington, Avon, Braintree, Cohasset, Holbrook, Marion, Randolph and Stoughton. Envision’s mortgage division also has lending centers in North Attleboro and Quincy as well as two mortgage offices in Massachusetts and one in Southern New Hampshire. As part of the merger agreement, at closing, Hometown will add at least one Randolph director to the Hometown and Abington Bank boards of directors.

The transaction will expand Hometown’s market presence in eastern Massachusetts. Following completion of the transaction, Hometown will have consolidated assets of approximately $4.4 billion and a branch network of 38 full-service offices across Massachusetts and northeastern Connecticut.

“With the addition of Envision Bank, we more than double our full-service locations and assets in eastern Massachusetts,” said Matthew Sosik, CEO of Hometown Financial Group Inc. “We are very excited to share the significant resources of Hometown Financial Group with the employees and customers of Envision Bank.”

Abington Bank President and CEO Andrew Raczka added that “Envision Bank customers will enjoy our enhanced products and services, and our business customers will benefit from an increase in lending capacity.”

This transaction will be the sixth strategic merger for Hometown in the last seven years. In 2015, Hometown acquired Citizens National Bancorp. Inc., based in Putnam, Conn., and then merged with Hometown Community Bancorp MHC, the holding company for Hometown Bank, in 2016. It then acquired Pilgrim Bancshares Inc. and Abington Bank in 2019, and later that same year merged Millbury Savings Bank with and into bankHometown.

“Our holding company structure brings the best of both worlds to our customers, employees, and communities,” Sosik said. “Each bank has deep roots in the neighborhoods they call home, so each can operate independently to harness its own local branding power while taking advantage of our extensive shared resources that take advantage of size, scale, and efficiency.”

Sosik said Hometown Financial Group will continue to seek out additional strategic acquisitions and partnerships with like-minded financial institutions.

“We are very pleased to have reached this agreement. Our shared values and complementary business models make this an ideal partnership,” said William Parent, president and CEO of Randolph Bancorp Inc. “Both organizations are highly respected as leaders in the community, and we believe Hometown Financial Group’s focus on innovation and technology will help meet the evolving needs of customers of both Hometown Financial Group and Envision Bank by providing greater access to digital banking tools and an expanded branch network. These enhancements will improve the customer experience and create a stronger banking competitor in Eastern Massachusetts.”