The parent company of People’s United Bank has closed on its merger of the parent company of Belmont Savings Bank, BSB Bancorp reported in a regulatory filing this morning.

The deal was first announced at the end of last November and came less than two months after People’s United closed on Farmington Bank in Connecticut.

People’s United appears to have made good time on the closing. When the deal was announced, the bank said it planned to close the deal in the second quarter of 2019, and has done so on the very first day of the second quarter.

People’s United acquired Belmont Savings Bank in an all-stock transaction valued at $327 million. Under the terms of the agreement, BSB Bancorp stockholders received two shares of People’s United Financial stock for each BSB share. The transaction is valued at $32.42 per BSB share based on the closing price of People’s United’s common stock on Nov. 26, 2018.

The purchase of Belmont Savings Bank comes after years of speculation over when the bank would be bought.

The bank hired President and CEO Bob Mahoney, the former executive vice chairman of Citizens Financial Group, in 2010, and then issued an IPO in 2011. Since that time, the bank has grown substantially.

Between the third quarter of 2011 and the third quarter of 2018, Belmont Savings grew from roughly $688 million in assets to nearly $3 billion, according to the FDIC. Last year, the company twice received national recognition for its organic growth.

Experts considered Belmont Savings an attractive acquisition for a bank looking to deepen its franchise in the Greater Boston market, and should be a good match for People’s United.

On an earnings call around the time of the acquisition, People’s announced that it was hiring three new bankers in the Boston market, one of which would help bulk up the bank’s nonprofit business, an area in which Belmont Savings has done well over the years.

The deal will bring People’s United over $50 billion in assets and also adds six branches – two in Belmont and then branches in Cambridge, Waltham, Watertown and Newton.

There has not yet been any indication of branch closings or layoffs.

People’s United, which has 47 branches in Massachusetts, according to its website, has branches in some of the same communities as Belmont Savings, including in Cambridge and Waltham. It also has a branch in nearby Lexington.