Hometown Bank, Millbury Savings Bank to merge
Oxford, Mass.-based Hometown Bank and Millbury, Mass.-based Millbury Savings Bank agreed to merge under the Hometown Bank name.
The deal, which is expected to close in the fourth quarter, will not result in reductions in employee headcount and branch closures.
Upon closing, the combined company will have about $1 billion in assets and 15 branch offices throughout central Massachusetts and northeastern Connecticut. Hometown Financial Group will have about $3 billion in consolidated as...