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Fed, Mass. regulator approve Brookline Bancorp/First Commons Bank deal

The Federal Reserve System and the Massachusetts Division of Banks have approved Boston-based Brookline Bancorp Inc.'s pending acquisition of Newton Centre, Mass.-based First Commons Bank NA.

The regulators also approved the merger of First Commons Bank with and into Brookline Bancorp unit Brookline Bank.

Shareholders of First Commons Bank approved the merger Jan. 17.

The deal is expected to close March 1.