New York Bank in $27M Market Share Deal

Delaware Bancshares in Walton, N.Y., has announced an agreement to buy Stamford Bank Corp., of Stamford, N.Y., for $27.1 million in cash.

The $164 million-asset Delaware is the parent of the 116-year-old National Bank of Delaware County. The deal for the $93 million-asset Stamford, announced late Tuesday, would give National Bank of Delaware County its fifth and sixth branches in its home county and the No. 2 deposit-market share there, with more than 24% of the bank deposits, according to Federal Deposit Insurance Corp. data.

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