Westfield,Mass.-based Westfield Financial Inc.($1.34 billion) agreed to acquire Chicopee, Mass.-based Chicopee Bancorp Inc. ($678.6 million) in an all-stock dealvalued at about $110 million, according to an April 4 news release.
Westfieldshareholders will own around 59% of stock in the combined company, and Chicopeeshareholders will own approximately 41%.
Uponcompletion, the holding company will be renamed Western New England Bancorp, whilethe combined bank will do business under the Westfield Bank name.