WATERBURY, Conn. Webster Financial Corp. has completed the sale of its two-branch Olde Port Bank division to Granite Bank, a state-chartered commercial bank in Keene, N.H.
Webster acquired Olde Port Bank and Trust of Portsmouth, N.H., in 1999 from New England Community Bancorp of Windsor, Conn., which had owned several smaller banks with a combined 110 branches in Connecticut.
Olde Port was the only bank New England Community owned outside Connecticut, a Webster spokesman said. It was not a large part of our operation, the spokesman said. Terms of the deal were not disclosed.
The two branches have $43 million of loans and $44 million of deposits. Granite has 17 offices in southern New Hampshire.