FSEA News & Events

Cambridge Financial, the mutual holding company of Cambridge Savings Bank, and First Seacoast Bancorp, the holding company of First Seacoast Bank, jointly announced they have entered into a definitive merger agreement under which First Seacoast Bancorp will merge with Cambridge Financial, with Cambridge Financial as the surviving corporation, and First Seacoast Bank will merge with Cambridge Savings Bank, with Cambridge Savings Bank as the surviving institution.

The company states: "First Seacoast Bancorp announced it has authorized additional share repurchases, up to an additional 228,858 shares of common stock, under its ongoing stock repurchase program. Previously announced in April 2024, the original repurchase authorization encompassed 507,707 shares of common stock, representing approximately 10% of the then outstanding shares. To date, the Company has repurchased 397,008 shares at an average price of $9.15 per share. The additional repurchase authorization represents approximately 5% of pro forma outstanding shares assuming the repurchase of the remaining shares subject to the original authorization."