M&A Deal Summary

bankHometown Acquires Pilgrim Bancshares

On July 25, 2018, bankHometown acquired financial services company Pilgrim Bancshares for 263M USD

Acquisition Highlights
  • This is bankHometown’s 1st transaction in the Financial Services sector.
  • This is bankHometown’s largest (disclosed) transaction.
  • This is bankHometown’s 1st transaction in the United States.
  • This is bankHometown’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2018-07-25
Target Pilgrim Bancshares
Sector Financial Services
Buyer(s) bankHometown
Deal Type Add-on Acquisition
Deal Value 263M USD
Advisor(s) Keefe, Bruyette, & Woods, Inc. (Financial)
Luse Gorman (Legal)

Target

Pilgrim Bancshares

Cohasset, Massachusetts, United States
Pilgrim Bancshares, Inc. is a provider of consumer and commercial deposit and loan products to the South Shore and South Coast areas of Massachusetts, including portions of Plymouth, Norfolk and Bristol Counties.

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Buyer(S) 1

Buyer

bankHometown

Easthampton, United States

Category Company
Founded 2008
Sector Financial Services
DESCRIPTION

Hometown Financial Group, Inc. offer a complete line of commercial, business, and consumer banking and lending products and services to customers through its 23 branches located throughout western and central Massachusetts and northeastern Connecticut.


DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 3
Type (Add-on Acquisition) 1 of 2
State (Massachusetts) 1 of 3
Country (United States) 1 of 3
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-27 Millbury Savings Bank

Millbury, Massachusetts, United States

Millbury Savings Bank is a state-chartered mutual savings bank headquartered in Millbury, Massachusetts, with $228 million in assets and branches in Millbury and Worcester. Millbury Savings Bank is based in Millbury, Massachusetts.

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