The Boston Herald, April 30th, 1999
State Street Corp. is negotiating to sell its commercial lending and retail banking units to Citizens Financial Group, a move that would end State Street's 200-year history as a Massachusetts bank, sources said yesterday.
Meanwhile, State Street's $4.6 billion commercial loan portfolio would give Providence-based Citizens' a national presence and secure its place as as a strong mid-tier bank in New England.
Citizens would also pick up about $2.4 billion in deposits from State Street's retail banking business, which dates back to 1792.
With just six offices and 17 automated teller machines...
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