Blue Hills Bank recently completed its acquisition of Nantucket Bank.

The deal added three branches and approximately $300 million in assets and deposits to Blue Hills Bank, bringing its total assets to $1.6 billion, deposits to $1.1 billion and loans to $900 million.

"We view ourselves as a growth company in a mature market with aspirations of growth over the next five years. We need to be able to scale our operations while maintaining connectivity to our local customers and markets," William M. Parent, president and CEO of Blue Hills Bank, said in a statement. "Part of our strategy is to continue to grow our commercial, consumer and residential lending platforms, increase our retail presence through new branches in East Milton Square and University Station in Westwood and enhance our online offerings."

Nantucket Bank, which was previously a division of Sovereign Bank, will continue to operate under its own name as a division of Blue Hills Bank.