Hometown Financial to acquire Primary Bank in $160M deal

Hometown Financial Group, Inc. announced an agreement to acquire Primary Bank (PRMY), a Bedford, New Hampshire-based commercial bank, in a transaction valued at approximately $160 million, according to a press release issued July 6, 2026.

Under the merger agreement, unanimously approved by both companies’ boards, Primary Bank shareholders will receive either $33.00 in cash or $31.00 in stock of Hometown Financial Group, Inc., a newly formed Maryland corporation that will serve as successor to Hometown. The terms require that 50% of Primary Bank’s outstanding shares be converted into cash and 50% into stock.

The acquisition will add approximately $743 million in assets and four New Hampshire branch locations to TruNorth Bank’s existing 55-branch network, bringing the combined total to 59 retail locations across Massachusetts, southern New Hampshire, and northeastern Connecticut. Primary Bank’s branches in Bedford, Derry, Manchester, and Nashua will operate under the TruNorth Bank name.