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Hometown Financial Group CEO Matthew S. Sosik has announced that bankHometown has completed its merger with Millbury Savings Bank. Millbury Savings Bank President and CEO Robert J. Morton has been appointed president and CEO of bankHometown.
“We are excited to welcome Rob and the Millbury Savings Bank employees and customers to the bankHometown family,” Sosik said in a statement.
Oxford-based bankHometown now has $1 billion in assets and 15 branches located throughout central Massachusetts and northeastern Connecticut. The bank plans to open a new branch on Grove Street in Worcester in early 2020. Sosik, former president and CEO of bankHometown, will continue as CEO of Hometown Financial Group and president and CEO of bankESB. Both are headquartered in Easthampton, Massachusetts.
“I look forward to getting to know the bankHometown customers and communities in the months ahead,” Morton said in a statement. “I am passionate about fulfilling the promise of true local, community banking, providing top-notch customer service, reinvesting deposits in loans that support local economic growth and job creation, and giving back generously to communities we serve through charitable donations and volunteerism.”
The merger with Millbury Savings Bank marks the third transaction closed in 2019 for Hometown Financial Group. On Jan. 31, the company closed on its acquisition of Pilgrim Bancshares Inc. This was followed by the merger of Abington Bank and Pilgrim Bank on May 17. The closing of that transaction resulted in the formation of a $600 million bank with six branches operating in eastern Massachusetts.
