New Hampshire Thrift Bancshares Inc. in Newport announced Friday that it had a deal to buy First Brandon Financial Corp. in Brandon, Vt., for about $21.2 million in cash and stock.
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Stephen W. Ensign, the $671 million-asset New Hampshire Thrift's chairman, president, and chief executive officer, said in a press release that his company is "pleased and excited" to be expanding into Vermont.
First Brandon National Bank would be merged into New Hampshire Thrift's Lake Sunapee Bank but would continue to operate under its own name as a division of Lake Sunapee.
The transaction is expected to close in the second quarter.
