Hometown Financial Group has completed its acquisition of Colonial Federal Savings Bank. The bank will operate as a subdivision of North Shore Bank, which is part of the multibank mutual holding company.

The acquisition expands Hometown Financial Group’s market presence in eastern Massachusetts, bringing consolidated assets to $6.9 billion with 56 branches located throughout Massachusetts, northeastern Connecticut and southern New Hampshire.

This transaction is the eighth strategic merger for Hometown Financial Group in the last 10 years.

“We’re thrilled to welcome Colonial Federal employees and customers into the North Shore Bank and Hometown Financial Group family,” Hometown Financial Group chairman and CEO Matthew Sosik said in a statement. “As we grow our presence in eastern Massachusetts, solidify our already formidable branch network on the South Shore, and introduce our unique brand of community banking to the customers and employees of Colonial Federal, we look forward to introducing the Colonial Federal family to all the products, services and locations to help unlock their potential.”

With the acquisition, North Shore Bank now has $3.3 billion in assets and 29 branches in eastern Massachusetts, including 15 on the North Shore and 14 on the South Shore. These include 10 existing Abington Bank locations and four Colonial Federal locations in Quincy, Holbrook and Weymouth.

“We look forward to getting to know the Colonial Federal customers, employees and their communities in the months ahead,” North Shore Bank president and CEO Michael Wheeler said in a statement. “We’re passionate about fulfilling our promise to deliver individualized financial solutions and new digital banking tools and technology at an even greater convenience. As we fully bring our organizations together operationally next spring, we look forward to extending our premier commercial and business deposit, lending and cash management products to an even greater number of South Shore business communities.”