Weetamoe Bancorp has agreed to buy Fairbank Inc., parent of National Bank of Fairhaven, for about $8.5 million.
Under the deal, the details of which were not released, $65 million- asset Fairbank's two branches will be merged into Weetamoe subsidiary Slade's Ferry Bank, which has $233 million in assets. The new company will have nine branches in southeastern Massachusetts.
Access to authoritative analysis and perspective and our data-driven report series.
The increasing adoption of virtual card payments by accounts payable departments has created an unexpected complication for suppliers: more friction in the processing, posting and reconciliation of payments and receivables.