Stockholders of West Springfield’s United Financial Bancorp Inc., the holding company for United Bank, and New England Bancshares, the holding company for New England Bank, have approved the banks’ plan to merge.
The stockholders of Enfield, Conn.-based New England Bancshares (NEBS) also voted to approve "certain compensation" to be paid to certain executive officers of NEBS in connection with the merger, according to a statement from the bank.
The merger is expected to close on or about Nov. 16 subject to regulatory approval and the satisfaction of other customary closing conditions.
"We are pleased to have our stockholders’ vote for this merger and now look forward to completing the transaction, our system conversion and officially welcoming New England Bank employees, branches and customers into the United Bank family," said Richard Collins, president of United Bank.
