In Brief: Vt. Company Buys 10 Bank Boston Branches

The Massachusetts subsidiary of Vermont's BankNorth Group Inc. grew substantially last week with the addition of 10 former BankBoston Corp. branches.

Burlington-based BankNorth, with $3.2 billion of assets, closed a $52.5 million deal Friday for the branches in Berkshire County. The branches, with $274 million of deposits, are to be merged into BankNorth's First Massachusetts Bank, boosting its assets to $1 billion.

BankNorth operates seven community banks in Vermont, New Hampshire, and Massachusetts. The Massachusetts subsidiary was created in 1996 after BankNorth bought 13 branches from Fleet Financial Group Inc.

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