NASHUA, N.H. NFS Financial Corp. said that its merger talks with an undisclosed financial institution have collapsed.

Officials at the $614-million-asset NFS declined to reveal the reasons for the end of the discussions.

NFS. which announced the talks Nov. 11, has refused to identify the potential buyer, but Michael Cerato, First Albany Corp. vice president of investments, suggested Portland, Me.-based People's Heritage Financial Group as a likely candidate. People's has declined to comment.

NFS said it had entered into the discussions after the other bank expressed preliminary interest in a deal.

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.