Peoples Heritage Financial Group said it has completed the acquisition of Haverhill, Mass.-based Family Bancorp.

With $925 million in assets, Family Bancorp gives Peoples entree into the Massachusetts market, adding 17 branches in Essex and Middlesex counties.

Family Bancorp also has six branches in southern New Hampshire.

"We have now achieved a strong New England banking presence," said William J. Ryan, chairman, president, and chief executive of Peoples Heritage.

In connection with the acquisition, Peoples Heritage completed a modified Dutch auction in October, purchasing 2.5 million shares for $24 per share.

Peoples Heritage, with $5.4 billion in total assets, has 130 offices in Maine, New Hampshire, and Massachusetts.

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