BURLINGTON, Vt. - Chittenden Corp. has completed its purchase of $225 million-asset Bank of Western Massachusetts for $26 million in cash and stock.

The deal was overwhelmingly approved by Springfield-based Bank of Western Massachusetts stockholders, and the last regulatory approval was received on March 16.

The bank will continue to operate under the same name and management.

Chittenden is a $1.2 billion-asset holding company with 40 branches in Vermont. This is its first purchase outside Vermont.

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.