ACTON, Mass. - Walden Bancorp, the new holding company for Co- operative Bank of Concord, has completed its purchase of Bank of Braintree.

The two banks will operate as separate subsidiaries under the $1 billion-asset Walden.

Walden officials expect to take a charge of about $1.9 million in one- time expenses, net of taxes, to cover contract cancellations, severance packages, and other expenses related to the purchase. The total reflects about $1 million in legal, accounting, and other expenses that aren't tax deductible.

The company expects to implement cost savings of $1.4 million annually by the first quarter of 1996.

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