In a move that would double its presence in Connecticut, Bank of Boston Corp. has agreed to buy Society for Savings Bancorp for about $195 million in stock.

The price tag -- equal to about 1.3 times Society's book value -- is fairly high, considering that the $2.8 billion-asset thrift company is still rebounding from loan problems.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.