CFSB Bancorp, Inc. (CFSB)

CFSB Bancorp, Inc. was the holding company for Colonial Federal Savings Bank, a community savings bank founded in 1889 and based in Quincy, Massachusetts. The bank served individuals and small businesses in Norfolk County, operating three full-service offices and one limited-service branch. The holding company was majority owned by 15 Beach, MHC, a mutual holding company, which is a structure common among savings institutions that sell a minority stake to the public.

The bank's deposit products included checking, money market and savings accounts and certificates of deposit, and it also offered online and mobile banking and online bill payment. On the lending side, its portfolio consisted largely of one- to four-family residential mortgages, with multi-family and commercial real estate loans, second mortgages, home equity lines of credit and consumer loans. It invested excess liquidity in U.S. Treasury and government-sponsored enterprise securities, mortgage-backed securities, municipal obligations and other investment-grade instruments.

CFSB Bancorp completed its minority stock offering in January 2022, and its common stock began trading on Nasdaq under the ticker CFSB. As is typical with this structure, 15 Beach, MHC retained a majority of the outstanding shares, while the public held a minority stake. The company remained a small institution with limited trading liquidity and a modest earnings profile typical of small thrift holding companies.

On May 20, 2025, CFSB Bancorp entered a merger agreement with Hometown Financial Group, Inc., Hometown Financial Group, MHC, and related parties, including 15 Beach, MHC. Hometown Financial Group is a Massachusetts-based mutual holding company structure that also owns North Shore Bank, a co-operative bank. The agreement provided that public shareholders would receive $14.25 in cash for each CFSB share, and the transaction also required approval from the bank's depositors, which was reported in the local press.

The merger was completed on October 31, 2025. In the transaction, CFSB Bancorp merged with a Hometown merger subsidiary and was then merged into Hometown Financial Group, which survived as the successor. Immediately afterward, Colonial Federal Savings Bank was merged into North Shore Bank, which continued as the surviving bank within the Hometown group.

Because CFSB no longer met Nasdaq's listing requirements after the merger, it asked Nasdaq to suspend trading and remove the common stock from listing after the market closed on October 31, 2025, and a Form 25 was filed. Hometown Financial Group, as successor, stated that it planned to file a Form 15 to end CFSB's reporting obligations under the Securities Exchange Act of 1934.