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Bank closing 3 NH branches

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April 4, 2008

CONCORD, N.H.—Ocean Bank is closing three New Hampshire branches.

Bank President Dan O'Brien told the New Hampshire Business Review that branches in Nashua, Concord and Manchester will be consolidated with other nearby branches.

Thirty positions will be elminated, though half already are vacant. O'Brien says they hope to reduce most of the others by not replacing employees who leave or retire, but he said there could be a few layoffs.

The closings are part of a consolidation by the bank's new parent company, Peoples United. The company is closing 20 branches and eliminating 420 positions.

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