First Seacoast Bancorp Approves Merger with Cambridge Financial Group

What Happened

• First Seacoast Bancorp, Inc. held a Special Meeting of Stockholders on August 27, 2026 and reported that shareholders approved the Agreement and Plan of Merger dated May 4, 2026 between First Seacoast and Cambridge Financial Group / Cambridge Savings Bank.
• The company also reported the results of a non-binding, advisory vote on executive compensation related to the merger and a vote on a potential adjournment to solicit additional proxies.

Key Details

• Merger agreement approval vote (Item 5.07, Proposal 1): For 3,425,942; Against 11,808; Abstain 56,559; Broker Non-Votes 0.
• Advisory vote on compensation for named executive officers (non-binding, Proposal 2): For 2,496,093; Against 638,855; Abstain 359,361; Broker Non-Votes 0.
• Adjourn/postpone vote to solicit additional proxies if needed (Proposal 3): For 3,252,649; Against 179,817; Abstain 61,843; Broker Non-Votes 0.
• Merger Agreement date: May 4, 2026; Special Meeting date: August 27, 2026.

Why It Matters

• Shareholder approval of the Merger Agreement is a key formal step toward completing the merger between First Seacoast and Cambridge Financial Group; the strong for-vote on the merger (3.43M for vs. 11.8K against) indicates broad shareholder support.
• The advisory approval of executive compensation is non-binding but signals investor sentiment on deal-related payouts; the vote was more divided than the merger vote.
• Investors should view this filing as confirmation that a required shareholder vote was completed; next steps (such as regulatory approvals and closing conditions) will determine timing and final completion.