Welcome to our dedicated page for Primary Bank news (Ticker: PRMY), a resource for investors and traders seeking the latest updates and insights on Primary Bank stock.
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Hometown Financial Group agreed to acquire Primary Bank (OTCM: PRMY) and pursue a mutual-to-stock conversion.
Primary shareholders will receive $33.00 in cash or $31.00 in Hometown stock per share, split 50% cash/50% stock, valuing the deal at about $160 million. The acquisition adds $743 million in assets and four New Hampshire branches, bringing TruNorth Bank to 59 locations. A new Maryland holding company will conduct a stock offering to TruNorth Bank depositors, with eligible June 30, 2025 account holders receiving first-priority subscription rights. Conversion and merger are targeted for Q1 2027, subject to regulatory and shareholder approvals, and a new charitable foundation will receive shares equal to 4% of the stock sold.