BayBanks Inc., a major player in the Boston-area retail banking market, has always competed more with Fleet and Shawmut banks than with Bank of Boston, and the competition just got stiffer with the planned Fleet-Shawmut merger.

"BayBanks is known for having an ATM on every corner," said Gerard Cassidy, an analyst at Hancock Institutional Equity Services. "Now you'll have a Fleet ATM on every corner. I think the glow from BayBanks has dulled."

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