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Hometown Financial Group, Inc., Parent of bankHometown, and Randolph Bancorp, Inc. Announce Receipt of Regulatory Approvals and Targeted Closing Date of Merger

EASTHAMPTON AND QUINCY, MASSACHUSETTS — SEPTEMBER 27, 2022 — Hometown Financial Group, Inc. (“Hometown”), the multi-bank holding company for bankESB, bankHometown and Abington Bank, and Randolph Bancorp, Inc. (NASDAQ: RNDB) (“Randolph”), the bank holding company for Envision Bank, jointly announced today that all regulatory approvals relating to the acquisition by Hometown of Randolph and Envision Bank have been received.

A Change in Deposit Insurance Coverage

Effective March 17, 2020, The Co-operative Central Bank (CCB) and its Share Insurance Fund (SIF) merged into the Depositors Insurance Fund (DIF). As a result, bankHometown has become a member of the DIF.

Rest assured that your deposits with bankHometown will continue to be insured in full. Each depositor is insured to at least $250,000 by the FDIC. Effective March 17, all deposits above the FDIC limit are insured by the DIF.

The DIF has a long history of protecting deposits.  Since 1934, when the DIF was created, no depositor has lost a penny in a member bank.