BOSTON - Shawmut National Corp. said it has completed its acquisition of Providence, R.I.-based Old Stone Trust Co.

The transaction was approved by the Office of the Comptroller of the Currency and the Rhode Island Division of Banking.

The new company will operate as Shawmut Trust Company of Rhode Island, a subsidiary of Shawmut Bank Connecticut, and it will maintain offices in Providence.

Shawmut previously operated 14 branches and 15 ATMs in Rhode Island. It was named the winning bidder for the Old Stone Trust Co. by the Resolution Trust Corp. in November.

Old Stone Trust had managed and custody assets totaling $417 million on Sept. 30.

Shawmut has total assets of $31 billion.

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