July 24, 2023
On July 19, 2023, Oconee Federal Savings and Loan Association ("Oconee Federal"), Seneca, South Carolina, entered into a merger agreement with Mutual Savings Bank, Hartsville, South Carolina. Pursuant to the merger agreement, Mutual Savings Bank will merge with and into Oconee Federal. At the closing of the merger, Oconee Federal’s holding company, Oconee Federal Financial Corp., will issue stock to its mutual holding company parent, Oconee Federal, MHC, in an amount equal to the appraised value of Mutual Savings Bank.
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June 28, 2023
On June 27, 2023, Piedmont Federal Savings Bank, Winston-Salem, North Carolina, entered into a merger agreement with Wake Forest Bancshares, Inc., Wake Forest, North Carolina. Pursuant to the merger agreement, Wake Forest Bancshares, Inc. will merge with and into Piedmont Federal Savings Bank’s mutual holding company parent, Piedmont Financial Holding Company, in an all-cash remutualization transaction valued at approximately $14.9 million.
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June 20, 2023
On June 16, 2023, HV Bancorp, Inc., Doylestown, Pennsylvania, the holding company for Huntingdon Valley Bank, completed its merger with Citizens Financial Services, Inc., Mansfield, Pennsylvania, the holding company for First Citizens Community Bank.
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April 10, 2023
On March 31, 2023, NuMark Credit Union, Joliet, Illinois, completed its acquisition of Pioneer State Bank, Earlville, Illinois.
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March 15, 2023
On March 14, 2023, 1831 Bancorp, MHC, Dedham, Massachusetts, and South Shore Bancorp, MHC, South Weymouth, Massachusetts, announced their agreement to form a strategic partnership through the merger of 1831 Bancorp, MHC and South Shore Bancorp, MHC. South Shore Bank and Dedham Institution for Savings, the bank subsidiaries of South Shore Bancorp, MHC and 1831 Bancorp, MHC, respectively, will remain independent entities under a mutual multi-bank holding company.
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