FIG Has Now Completed 97 M&A Transactions Totaling More Than
$4.3 Billion In Transaction Value To Date
HarborOne Bancorp, Inc. (NASDAQ:HONE) has announced a definitive agreement to acquire Coastway Bancorp, Inc. (NASDAQ:CWAY) in an all-cash transaction valued at approximately $125.6 million.
Stockholders of Coastway Bancorp, Inc., the holding company of Coastway Community Bank, will receive $28.25 for each share of Coastway common stock. The transaction is expected to close in the second half of 2018.
Coastway, headquartered in Warwick, Rhode Island, has nine branches in the greater Providence area and three mortgage lending offices. Coastway had $739 million in assets and deposits of $477 million as of December 31, 2017.
“This is a strategic acquisition for HarborOne and a great fit with our growth plan,” said James Blake, President and Chief Executive Officer of HarborOne Bancorp. “The Rhode Island market is incredibly attractive to us, and Coastway’s established position provides a natural extension of our successful Commercial Lending business in Rhode Island. This is a unique opportunity for HarborOne to access excellent customer demographics and grow our business.”
Joseph Casey, HarborOne Bancorp EVP/COO/CFO said, “We are expanding our footprint and growing our brand. But our core principles remain the same. HarborOne has a deep commitment to our customers, our employees and our communities. Demonstrating our commitment to those same constituencies in Rhode Island is top priority – and it will drive our business growth more than anything.”
Since 2003, FIG has been the trusted advisor to community banks and investors. To learn more about FIG’s investment banking services, visit www.figpartners.com.