Article: Citizens Financial Group to Buy Massachusetts Bank.

By David McPherson, Providence Journal, R.I. Knight Ridder/Tribune Business News

Apr. 18--PROVIDENCE, R.I.--As Citizens Financial Group continues to prowl for its next big acquisition, it announced yesterday that it is buying a small Boston-area bank that will strengthen the Providence-based bank's hand against rival FleetBoston Financial Corp.

Citizens said it will pay $285 million in cash for Port Financial Corp., parent company of CambridgePort Bank, which operates 11 branches and 15 ATMs in a prosperous market in the greater Boston area.

"It's a very high-quality company that has a record of strong growth over the last three years," ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!