The merger of Athol-Clinton Cooperative Bank into Hometown Bank is complete as of today, and the conversion of the bank’s Athol and South Lancaster branches will begin immediately.
The final step in the merger of the two mutual banks follows approval by shareholders of both banks in February and approval by the state’s Division of Banks in March.
"We are delighted with the warm reception we have received in our merger with Athol-Clinton Cooperative Bank and we are confident that residents of the area are going to enjoy the expanded products and services made possible by the joining of two very similar cooperative banks," President and CEO Matthew S. Sosik said.
"One of the most important things we learned in the days leading up to the merger is just how similar these two organizations really were," Sosik added. "The staffs of both banks have collaborated well throughout the merger process and clearly share a common approach to customer satisfaction."
Senior Vice President Michael D. Hewitt said current and prospective customers of the bank will notice some immediate cosmetic changes to the Athol and South Lancaster branches, with new Hometown Bank signage being installed within the week, new carpeting and painting in customer areas. Automatic teller machines (ATMs) will be installed at both locations.
"One thing that won’t change is the staff," said Hewitt, "Every member of the staff has been asked to stay on as a Hometown Bank employee and everyone has already been trained in Hometown’s systems and product offerings."
In the next few days, all customers of the former Athol-Clinton Cooperative Bank will receive correspondence from Hometown Bank advising them of details of the upcoming systems conversion and introducing them to the bank’s products and services.
"We’re very excited about the opportunity to bring Hometown Bank’s unique style of banking to the region" said Sosik. "And we’re eager to become an active member of the local business community."
Hometown Bank is a $300 million cooperative bank with branches in Athol, Oxford, South Lancaster, Sturbridge and Webster.
