| The shareholders for Westfield Financial and for Chicopee Bancorp approved the merger of Westfield Bank and Chicopee Savings Bank this week, the two institutions announced in a joint statement.
The two banks are now awaiting approval by the Massachusetts Board of Bank Incorporation.
The deal will create the second largest bank by deposit market share in Hampden County. The combined institution will have $2.1 billion in total assets, more than $215 million in tangible equity and 21 branches across Western Massachusetts and Northern Connecticut.
Westfield will be the remaining institution after the deal closes.
