Hometown Financial Group to Acquire Primary Bank in $160 Million Deal

The merger, expected to close in the first quarter of 2027, will add four New Hampshire branches to the existing network of Hometown, which is currently consolidating its operations under the TruNorth Bank brand. Primary Bank shareholders will receive a mix of cash and stock valued at $33.00 per share. Once the deal is finalized, the combined entity will manage 59 retail locations across Massachusetts, New Hampshire, and Connecticut.

Alongside the acquisition, Hometown’s board has initiated a plan to convert from a mutual holding company to a stock holding company. This process involves a subscription offering for eligible depositors, with the ultimate goal of streamlining the organization into a single, unified subsidiary. The transition and the acquisition are set to proceed concurrently, pending regulatory approvals and support from Primary Bank’s stockholders.