Bud Fraena Hustad Sparebank entered into a merger agreement to acquire Nesset Sparebank on August 22, 2017. Under the terms of the transaction, the equity certificate holders in Nesset Sparebank will receive a consideration of 1.0184 equity certificates in Romsdal Sparebank for each equity certificate in Nesset Sparebank. The equity certificate holders in Bud Fraena Hustad Sparebank retain the same number of equity certificates as they have today. The merged bank will be renamed Romsdal Sparebank. The transaction is subject to approval by the regulatory authorities. As of November 16, 2017, the Norwegian Financial Supervisory Authority approved the transaction. The deal is expected to be completed in the first quarter of 2018. Bud Fraena Hustad Sparebank completed the acquisition of Nesset Sparebank on January 2, 2018.