Cambridge to merge with Wellesley in a $122m deal.

Cambridge, a provider of personal and business banking, wealth management, credit cards, and accounting facilities, agreed to merge with Wellesley, a provider of personal, customized, premier banking services to successful people, families, businesses and non-profit organizations, in a $122m deal. “We are pleased to announce the strategic combination of Cambridge Trust and Wellesley Bank, who are both dedicated to providing individuals, families, and businesses with exceptional personal attention and custom financial solutions. Wellesley Bank is a well-managed, financially strong and growing company located in attractive markets. The combination strengthens the position of Cambridge Trust in Greater Boston and is a logical extension of our market. We look forward to welcoming the talented Wellesley Bank team to Cambridge Trust,” Denis Sheahan, Cambridge CEO.