SpareBank 1, a Norwegian savings bank, agreed to acquire Helgeland Sparebank, a Norwegian bank, for £83m ($112m). "Solid banking has passed down the generations in Helgeland – despite 150 years of history, HSB and SNN have chosen to come together to create a joint banking collaboration in the Helgeland region. Uniting efforts in a strategic collaboration will strengthen both HSB and SNN, bringing increased profitability as a result of substantial synergies," SpareBank 1.