The merger of Quincy-based Envision Bank into Abington Bank could happen next week now that the deal has received regulatory approval.

Abington Bank’s parent company, Hometown Financial Group, and Randolph Bancorp Inc., Envision Bank’s parent company, said in a joint statement today that the banks expect to close the deal on Oct. 7 after receiving all regulatory approvals. The transaction is subject to customary closing conditions.

The deal will see Easthampton-based Hometown Financial Group acquire Randolph Bancorp in a cash deal valued at approximately $146.5 million. Randolph Bancorp shareholders will receive $27 for each share of Randolph stock. The deal had been announced on March 28, and Randolph shareholders approved the merger at a special meeting on June 29.

As part of the transaction, Envision Bank, which has about $775 million in assets, will merge into Abington Bank, giving the bank about $1.4 billion in assets. In addition to Abington Bank, Hometown Financial Group is the mutual holding company for bankESB and Oxford-based bankHometown. Hometown Financial Group currently has about $3.7 billion in assets.

Envision Bank and Abington Bank have nearby branches in Holbrook, and Envision Bank’s branch there will close as of Nov. 7, according to a letter on the bank’s website. Envision Bank will eliminate 56 jobs across six locations between Oct. 3 and Feb. 4, according to state filings made as part of the Worker Adjustment and Retraining Notice Act.

Envision Bank’s President and CEO William Parent told Banker & Tradesman in August that many of the jobs being eliminated include executive, finance and operations staff, as well as positions in the bank’s mortgage business in response to the current mortgage environment.