Cambridge Bancorp completed the acquisition of Optima Bank & Trust for £40m.

Cambridge Bancorp, the holding company for Cambridge Trust, completed the acquisition of Optima Bank & Trust, which provides personal and commercial banking services in Portsmouth, New Hampshire, for £40m. As a result of the merger, former Optima shareholders received an aggregate of approximately 723k shares of Cambridge Bancorp common stock and an aggregate of approximately $3.5m in cash. Including the shares issued in connection with the merger, Cambridge Bancorp now has approximately 4.8m shares of common stock outstanding. "Our merger with Optima Bank is a natural fit and consistent with our growth strategy to become the premier private bank and wealth management company throughout Greater Boston and Southern New Hampshire,” said Denis Sheahan CEO of Cambridge Trust.