Connecticut and federal bank regulators have signed off on the proposed $369 million merger later this year of Glastonbury’s Rockville Bank and West Springfield’s United Bank.
Still pending is Massachusetts bank regulators’ review and signoff on the merger, the banks say.
The Connecticut Banking Department, along with the Federal Deposit Insurance Corp. and the Federal Reserve System, recently blessed the deal, the banks said in a joint statement.
The transaction also requires formal approval from stockholders of both financial companies when their stockholders meet separately on April 8, the banks said.
The merger is tentatively set to close shortly afterwards, around summer, with both banks emerging under the United Bank banner with combined assets of around $5 billion.
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