Get the weekly rundown
Sign up to receive our weekly BizBuzz newsletter

Middletown-based Liberty Bank has announced a merger with Southern Connecticut Bancorp Inc. and its subsidiary, The Bank of Southern Connecticut.

The $11 million merger deal will grant each shareholder of New Haven-based Southern Connecticut Bancorp Inc. $3.76 a share in cash.

"The merger of The Bank of Southern Connecticut with Liberty Bank will significantly expand our branch network and market share in New Haven County" said Liberty Bank President and CEO Chandler Howard in a statement.

The Bank of Southern Connecticut is a commercial bank with four branches: two in New Haven, one in Branford and one in North Haven.

- Lee Howard


Loading comments...
Hide Comments

Stories that may interest you

Sri Lanka's hotels, beaches, eateries now empty of tourists

Sri Lanka was the Lonely Planet guide's top travel destination for 2019, but since the Easter attacks on churches and luxury hotels, foreign tourists have fled

More grocers are offering delivery

Ditch the cart: More grocery stores are offering online ordering and delivery

Walmart Charts New Course By Steering Workers To High-Quality Imaging Centers

The company's health plans cover 1.1 million U.S. employees and dependents.

Judge orders FDA to speed up review of e-cigarettes

A federal judge is ordering the Food and Drug Administration to begin reviewing e-cigarettes