Fidelity Bank plans to acquire the People’s United Bank branch at 75 Main St. in Leominster.

Leominster-based Fidelity said it expects to close the transaction around the middle of the year and that the acquisition also includes certain deposits.

Tim Crimmins, Massachusetts president of People’s United, said Fidelity would retain the branch’s employees.

Fidelity has about $522 million in total assets. People’s United, which has pushed into Massachusetts in recent years, has assets of about $28 billion.

Terms of the branch acquisition were not disclosed.