Meridian Bancorp's planned $3.2 billion sale to CoreStates Financial Corp. would have been unthinkable a year ago.

In his 12 years as Meridian's chief executive, Samuel A. McCullough made no secret of his wish to keep the bank independent and was known to maintain a strong grip on his board.

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.