Key Highlights

● Final Approval:: First Seacoast Bancorp received the last of its regulatory approvals and waivers on September 24, 2026 to complete its Merger into Cambridge Financial Group.

● Target Close:: The company is targeting an October 1, 2026 closing date.

● Shareholder Vote:: Stockholders approved the merger and related transactions at a special meeting on August 27, 2026.

● Bank-Level Combination:: First Seacoast Bank will merge into Cambridge Savings Bank, though the filing discloses no financial terms of the deal.

First Seacoast Bancorp, Inc. (NASDAQ:FSEA) said in an 8-K that on September 24, 2026 it received the last of the regulatory approvals and waivers needed to complete its previously announced merger into Cambridge Financial Group, Inc., clearing the way for First Seacoast Bank to merge into Cambridge Savings Bank. The company is targeting an October 1, 2026 closing, following a Shareholder vote approving the deal on August 27, 2026.

The Final Regulatory Hurdle

The 8-K states plainly that the company "received the last of the regulatory approvals and waivers required to complete the merger" on September 24, 2026. The filing does not identify which specific regulators (such as banking or antitrust authorities) issued approvals, nor does it describe any conditions those regulators may have attached. With that approval in hand, First Seacoast says all necessary regulatory clearances are now complete.

Shareholders Already Signed Off

Before regulators weighed in, First Seacoast stockholders voted to approve the merger and related transactions at a special meeting held August 27, 2026. That vote cleared the other major precondition to closing, leaving only the regulatory sign-off, now obtained, standing between the companies and completion.

Merging Bank Into Bank

The transaction combines First Seacoast Bancorp, Inc. into Cambridge Financial Group, Inc., with the operating subsidiary, First Seacoast Bank, merging into Cambridge Savings Bank. First Seacoast is based in Dover, New Hampshire and trades on Nasdaq under the ticker FSEA. The 8-K does not disclose the financial terms of the merger: no exchange ratio, per-share consideration, or aggregate deal value is included in this filing.

Closing Still Conditional

Even with shareholder and regulatory approval secured, First Seacoast's filing says the October 1, 2026 closing remains "subject to the satisfaction of customary closing conditions," a standard qualifier covering items such as no material adverse change, delivery of closing certificates, and other routine pre-closing requirements that are not spelled out individually in the filing.

A Small-Bank Consolidation

The combination is a straightforward example of the kind of consolidation that has been common among smaller New England banks and thrifts, where a mutual or stock savings institution merges into a larger regional peer to gain scale. Neither First Seacoast's 8-K nor the accompanying disclosures included in this filing describe the strategic rationale in the companies' own words, the size of either institution's balance sheet, or what will happen to First Seacoast's separate corporate registration and Nasdaq listing once the bank-level merger is complete.

What the Filing Leaves Out

Beyond the absence of financial terms, the 8-K does not say whether First Seacoast Bancorp's shares will be converted into Cambridge Financial Group stock, cash, or some combination, and it does not indicate whether Cambridge Financial Group is itself a mutual holding company, a stock company, or another form of organization. It also does not disclose whether any First Seacoast branches will close, whether any executives will depart or be retained, or whether the First Seacoast name will continue in any form once the banks combine.

Countdown to the October 1 Closing

The key date to watch is October 1, 2026, the targeted closing date for the merger. Beyond that, investors should watch for confirmation that the customary closing conditions referenced in the filing have been satisfied, and for any subsequent 8-K formally announcing that the merger has closed and detailing the final terms of the combination.