Peoples Heritage Financial Corp., Portland, Maine, has agreed to divest three branches to win Justice Department approval of its deal for CFX Corp., Keene, N.H.

As part of its settlement with the agency, $6.8 billion-asset Peoples Heritage has agreed to divest itself of $124.8 million of deposits in three branches in two New Hampshire cities, Concord and Hillsborough, where it already has branches.

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