The parent company of Salem Five Bank has completed its acquisition of Lowell-based Sage Bank. The acquisition was announced in April and Salem Five expects a full conversion this fall.

With this acquisition, Salem Five now has total assets of approximately $5 billion with 36 locations serving customers across Northeastern Massachusetts and Southern New Hampshire.

“The acquisition of Sage Bank adds to our growing presence in Middlesex County and we’re glad to have it finalized,” Salem Five’s President and CEO Ping Yin Chai said in a statement. “We look forward to introducing leading products, services and technology to Sage Bank’s customers, as well as new customers throughout the Greater Lowell area.”

The acquisition comes after Salem Five completed its purchase of Georgetown Bank in 2017 and ends what has been a tough couple of years for the small bank.

Federal and state regulators hit Sage Bank with its second consent order in three years in December 2016, directing the bank to improve its management and capital levels, as well as develop a new profit and budget plan.

The bank agreed to pay roughly $1.2 million to the Justice Department in 2015 for allegedly charging African-American and Hispanic borrowers higher prices for home loans than Sage Bank charged to similarly situated white borrowers for reasons unrelated to their creditworthiness.

In the last five years, Sage Bank has only turned a profit once, in 2016, according to the FDIC. Total assets have declined from about $215 million in 2013 to about $143 million at the end of 2017.