Banknorth Group of Burlington, Vt., announced Friday that it plans to enter New York State by buying Evergreen Bancorp of Glens Falls for $291.2 million in stock.

Evergreen's branch network, stretching from Albany all the way to Canada, runs parallel to Banknorth's in Vermont and Massachusetts.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.