ALBANY, N.Y. - Shareholders of Marble Financial Corp., Rutland, Vt., have approved their company's acquisition by Albank Financial Corp. for $18 a share in cash, or $60 million.

About 99% of the shareholders at a meeting approved the transaction, which has also been approved by the Office of Thrift Supervision.

The deal is expected to close in January.

Marble is the holding company for Marble Bank, which has seven branches in central Vermont and $428 million in assets.

Albank is the holding company for Albank FSB, with 57 branches in upstate New York and western Massachusetts and $3 billion in assets.

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