Hubco is estimating that its proposed acquisition of Lafayette American Bank and Trust Co., Bridgeport, Conn., will require one-time charges of about $8.5 million after taxes.

The Mahwah-based bank holding company also estimated, however, that the merger will allow it to realize pretax cost savings of $9 million, or about 34% of Lafayette's noninterest expenses. The savings will be implemented by September if the merger closes, as expected, at the end of the second quarter.

The merger charges would cause a 4.2% book value dilution, but officials expect to recover that within four months. The cost savings, on the other hand, would limit earnings dilution to 1% in 1996, and would result an accretion of 6% for 1997.

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