Quincy thrift absorbs its parent company.

QUINCY, Mass. - Excel Bancorp and its wholly owned subsidiary, Quincy Savings Bank, have been consolidated into a single entity.

Under the reorganization, each Excel share has been converted into one of Quincy Savings Bank common stock.

As a result, Excel's shareholder rights plan, which was adopted on Oct. 30, 1990, is no longer in operation.

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