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Hometown Financial Group CEO joins MHP board

Posted on October 4, 2019

BOSTON --- Governor Charlie Baker has appointed Matthew S. Sosik to the board of directors of the Massachusetts Housing Partnership (MHP).

Since 2013, Sosik has been president and chief executive officer of Hometown Financial Group (HFG), a $2.7 billion mutual multi-bank holding company based in Easthampton. Under Sosik’s direction, HFG has grown by nearly 300 percent, executing five merger and acquisitions.

HFG is the parent company of three mutual banks - bankESB (formerly Easthampton Savings Bank), Oxford-based bankHometown, and Abington Bank, a merger that was completed in the spring of 2019 and also included the merger of Pilgrim Bank in Marion and Cohasset. Together, these mutual banks serve towns in the Pioneer Valley, Central Mass., northeast Connecticut, and the South Shore.

“The Baker-Polito Administration is pleased to have Matthew Sosik join the MHP board of directors,” said Secretary of Housing and Economic Development Mike Kennealy. “His insights and experience will be a valuable resource for MHP and our administration as we work to address the availability and affordability of housing across the Commonwealth.”

A native and lifelong resident of Sturbridge, Sosik has a Bachelor of Science in Economics and Finance from Bentley University. After working as a bank examiner for the Federal Deposit Insurance Corporation for four years, he was named president of Hometown Bank in Oxford in 1997 at the age of 27.

He remained at Hometown Bank for nearly 17 years, growing the bank by almost 1,000 percent. In 2013, he was named president and chief executive officer at bankESB.  In 2015, Sosik oversaw the acquisition of his former mutual bank, Hometown Bank. Hometown Financial Group emerged soon after becoming the parent company of the new mutual multi-bank structure.

“While our mutual bank structure has evolved so it now serves customers in eastern, central and western Massachusetts, and northeast Connecticut, one of the common factors in each area is the need for affordable housing,” said Sosik. “I’m honored that Governor Baker has named me to the board of directors of MHP, an organization that continues to do so much to help communities create affordable rental housing and homeownership opportunities for families.”

About MHP: MHP works with communities to create innovative policy and financing solutions that provide affordable homes and better lives for the people of Massachusetts. MHP’s community assistance has reached over 300 communities, its bank funds and other capital sources have provided over $1.4 billion for the financing of 26,000 apartments, and its ONE Mortgage Program has partnered with lenders to provide $3.8 million in below-market mortgage financing  to help over 21,000 low- and moderate-income buyers purchase their first home. In 2017, MHP created the Center for Housing Data, which collects, analyzes and shares information to drive better housing policies.