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Company Buys RI Bank For $125.6 Million

A Massachusetts company has announced it will buy the parent company of a former Rhode Island credit union.

In an announcement Wednesday, Coastway Community Bank says it has been sold to HarborOne Bankcorp Inc., of Brockton, Massachusetts, for $125.6 million cash.

The companies say the deal is expected to close later this year. It needs the approval of Coastway stockholders, who would receive $28.25 for each share they own.

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