Hampshire First to acquire Portsmouth branch

Just as it plans to open its fourth branch in Londonderry, Manchester-based Hampshire First Bank has announced that it wants to acquire another branch in Portsmouth.

The bank has applied for regulatory approval to acquire the 77 Hanover St. location of First National Bank of Ipswich in the Port City. This will become Hampshire First’s fifth branch since its founding in 2006.

The branch will operate under the Hampshire First Bank name after the deal’s anticipated close in the fourth quarter of 2009.

Hampshire First Bank reported total assets of $147 million as of June 30. — CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW