WINDSOR, Conn. - Shareholders of New England Community Bancorp and Equity Bank have approved a merger of the companies, which is expected to be completed in the fourth quarter pending state regulatory approval.

Under the transaction, which was announced in March, Equity shareholders will receive 1.85 shares of New England stock for each share of Equity stock.

Wethersfield, Conn.-based Equity will remain a separate subsidiary of New England Community, and will retain its current board and management team.

The combined institution will have $324 million in assets.

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