UST Corp. said Wednesday it plans to buy Somerset Savings for about $93.7 million. The pooling-of-interests transaction is expected to close in the first half of 1998.

The deal for the Somerville, Mass., savings bank would boost UST's assets by $520 million to $4.2 billion. It would have 71 Boston-area banking branches. UST shares closed Wednesday at $27.50, down $2.125.

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.