On May 20, 2025, CFSB Bancorp, Inc., Quincy, Massachusetts, entered into a definitive merger agreement with Hometown Financial Group, Inc., Easthampton, Massachusetts, under which Hometown Financial Group will acquire CFSB Bancorp. CFSB Bancorp stockholders will receive $14.25 in cash per share of CFSB Bancorp common stock for total merger consideration of approximately $44 million. As a part of the transaction, Colonial Federal Savings Bank, the banking subsidiary of CFSB Bancorp, will merge with and into North Shore Bank, a banking subsidiary of Hometown Financial Group.

Hometown Financial Group, Inc. is a $6.6 billion mutual holding company headquartered in Easthampton, Massachusetts, and is the parent company of bankESB, bankHometown, North Shore Bank, and Abington Bank, a division of North Shore Bank, which together operate 52 branch offices located throughout Massachusetts, northeastern Connecticut and southern New Hampshire.

CFSB Bancorp, Inc. is the $366 million holding company of Colonial Federal Savings Bank and is the majority-owned subsidiary of 15 Beach, MHC, a mutual holding company. Colonial Federal Savings Bank operates from three full-service offices and one limited-service office in Quincy, Holbrook and Weymouth, Massachusetts.

Luse Gorman is serving as legal counsel to CFSB Bancorp in the transaction. The Luse Gorman team consists of Scott Brown, Lawrence Spaccasi, Thomas Hutton, Brendan Saxon and Babette Schwartz.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past five years and on more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.