CONCORD, N.H. -- Two small banks in Concord will merge.
Merrimack County Savings Bank says it will buy Bow Mills Bank and Trust in a $22.5 million deal. It will create one larger community bank from two smaller ones struggling in a market dominated by national banking giants.
Bow Mills says its three branches probably will stay open, but the name will change to Merrimack County Savings Bank sometime in the next five to six months.
Together, the banks have about 160 employees. They say it's too early to say if any jobs will be lost in the merger.
Merrimack County Savings Bank has three branches and a mortgage center in Concord, and a branch in Nashua.