Bank of Boston Corp. has received approval from the Office of the Comptroller of the Currency to acquire BankWorcester.
Bank of Boston will capture $1.5 billion in total deposits and $1.3 billion in total assets from the transaction. This will give it the leading market share in Worcester County, the bank said.
The boards of directors of both banks and the shareholders of BankWorcester have already approved the acquisition. However, the deal still awaits approval from Massachusetts regulators.
The acquisition is expected to close this spring.