Quinnipiac Bank & Trust Company shareholders approved a merger with and into New Canaan-based Bankwell Bank, according to a Bankwell Financial Group news release.

Quinnipiac Bankwell, which is located in Hamden, and Bankwell have now secured all regulatory and shareholder approvals required for their merger to proceed.

"Together, we will continue to be the hometown bank serving the local community, but with a much greater array of services to offer individuals and businesses," Blake S. Drexler, Bankwell's executive chairman, said in an earlier news release.

The transaction was approved Wednesday, Sept. 24, and is expected to close on Oct. 1, 2014.

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