PETERBOROUGH, N.H. - Shareholders of Peterborough Savings Bank have approved a merger with Horizon Bank and Trust of Concord, N.H., and a new name for the combined company, Primary Bank.

Horizon shareholders approved the merger agreement on March 14. Under the deal, which was signed in November 1994, Peterborough will exchange its stock for Horizon stock using a ratio based on a value of $4 per Horizon share.

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