- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
-
- IPO Date
- Jan 15, 2014
- Business
- Coastway Bancorp, Inc. (CWAY) operates as the holding company for Coastway Community Bank, a Rhode Island-chartered savings bank providing community banking services to individuals, families, and businesses in Rhode Island; deposit products include certificates of deposit, savings accounts, non-interest-bearing demand deposits, money market accounts, and club accounts; loan products comprise one- to four-family residential real estate loans, home equity loans and lines of credit, commercial real estate loans, U.S. Small Business Administration loans, commercial business loans, commercial construction loans, and consumer loans; additional services feature online and mobile banking. Founded in 1920 as the Telephone Workers Credit Union and headquartered in Warwick, Rhode Island, the bank maintains nine branches in Providence County and Kent County. In 2018, Coastway Bancorp entered a definitive agreement for acquisition by HarborOne Bancorp, Inc. in an all-cash transaction valued at approximately $125.6 million, with the deal closing on October 5, 2018, after regulatory approvals including from the Federal Reserve and FDIC; Coastway Community Bank merged into HarborOne Bank, expanding HarborOne's presence in Rhode Island. The CWAY ticker is no longer actively trading on NASDAQ following the acquisition.