Matt Sosik, chief executive of Hometown Financial Group, is overseeing a significant expansion of the Massachusetts-based banking company from its headquarters in Easthampton. This week, Hometown Financial completed the integration of its three banks into a single entity known as TruNorth Bank, with systems fully merged and new signage expected by late October. The Massachusetts Division of Banks approved the merger on August 7.

Originally developed as a brand for Hometown Financial’s three Eastern Massachusetts acquisitions, TruNorth will now serve as the unified identity for the entire company. The consolidation reflects a broader strategic effort to strengthen the institution’s position amid industry pressures such as shrinking margins and rising costs.

Looking ahead, Hometown Financial is preparing to complete the acquisition of Primary Bank in New Hampshire. This will mark the company’s ninth acquisition over the past decade. The bank is also planning a conversion from a mutual to a shareholder-owned structure, targeted for early 2027. As part of this process, depositors will have the opportunity to purchase shares before the general public. Capital raised through this transition is expected to support the Primary Bank purchase.

Sosik emphasized the importance of scale in the current banking environment. “You’ve got this industry that has very low margins,” he said, noting that expenses have increased substantially in some cases. Mergers enable the bank to expand its geographical reach and enhance its community services, he added, stressing a long-term commitment to its customer base.

With the merger, TruNorth’s assets will total about $7 billion, not including Primary Bank’s more than $700 million in assets. This represents roughly four times the combined assets the company had in 2015 when Hometown Bank and Easthampton Savings Bank unified under the Hometown Financial umbrella.

Sosik’s banking career began after graduating from Bentley University in the early 1990s when he joined the Federal Deposit Insurance Corporation as a bank examiner. Several years later, he was recruited by the board of a small bank that later became Hometown Bank, taking on the role of chief executive. Under his leadership, the company has pursued steady growth through acquisitions and brand consolidation.