Cambridge Financial to Acquire First Seacoast for $80.9 Million in a Cash Deal

Cambridge Financial Group, Inc. entered a merger agreement on May 5, 2026, to acquire First Seacoast Bancorp, Inc. (FSEA) in a deal valued at $80.9 million.

Deal Structure:

First Seacoast Bancorp’s stockholders will receive $17.25 in cash for each share of common stock, representing a premium of 46.93% from the stock’s last close.

Company Profile:

First Seacoast is a New Hampshire-based bank, founded in 1890, that provides deposits, loans, and wealth management services to individuals and businesses. It operates a small network of branches in the Seacoast region, with headquarters in Dover, and has roughly $600 to $700 million in assets.

Cambridge Financial is a Massachusetts-based banking company that provides consumer, business, and commercial banking services through branch and digital channels. Its main subsidiary, Cambridge Savings Bank, has about $7 billion in assets and operates a statewide branch network.

Deal Details and Timeline:

Cambridge Savings Bank will take over all of First Seacoast Bank’s locations, running them as branches within its network of 24 full-service offices.

The merger is expected to close in the third quarter of 2026.

First Seacoast is getting financial advice from Keefe, Bruyette & Woods and legal advice from Luse Gorman. Meanwhile, Cambridge Financial is being advised financially by Piper Sandler.

Cambridge Financial is purchasing First Seacoast at 0.97 times the tangible book value.

Deal Metrics:

For a more detailed analysis of this merger and acquisition deal, please visit our Deal Metrics page at:

Deal Metrics for the acquisition of First Seacoast Bancorp, Inc. (FSEA) by Cambridge Financial Group, Inc.

The comprehensive Deal Metrics page for each merger or acquisition consists of:

• A chronological spread history chart from the announcement to the completion or failure of the merger.
• Key events as the merger progresses, including the expiration of the HSR period, regulatory approvals, shareholder votes, etc.
• Updated news and SEC filings.
• A record of deal updates.
• And much more.

Disclaimer: Before proceeding with any transactions involving the securities mentioned in this article, please conduct your own due diligence. The content or data provided in this article is not warranted for completeness or accuracy.

Editor’s Note: Baranjot Kaur contributed to this article