At least a half-dozen Northeastern bank consultants are jockeying to assemble groups of community banks in Connecticut and Massachusetts to bid jointly on as many as 150 branches expected to be sold by Fleet Financial Group.

Following its upcoming merger with Shawmut National Corp., the Providence-based regional is likely to divest branches with $2.5 billion to $4.5 billion of deposits, primarily in the two states, according to Hartford's Bank Analysis Center, one of the consultants. Additional divestitures are also possible in New Hampshire and New York.

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.