United Bank Announces Purchase of Six Bank Branches
United Bank announced it has entered into an agreement with Webster Bank, N.A. of Waterbury, Conn. to purchase six branches located in Connecticut, Massachusetts, and Rhode Island. United Bank will assume approximately $120 million of branch deposits in the transaction, which is expected to close in the fall of 2018, pending regulatory approval. Under the terms of the agreement, the following six Webster Bank branches will be purchased by United Bank, and employees at those branches are expected to join the United Bank team: 50 Elm St., West Springfield; 1355 Boston Road, Springfield; 62 Center Square, East Longmeadow; 124B Boston Post Road, Waterford, Conn.; 654 Long Hill Road, Groton, Conn.; and 48 Franklin St., Westerly.