Stockholders of Chittenden Corp., the Vermont-based parent of Worcester’s Flagship Bank and Trust Co., approved the company’s buy-out by People’s United Financial Inc.
Chittenden expects the merger to close Jan. 1.
People’s, which is based in Connecticut, will buy Chittenden for $1.9 billion in cash and stock.
Chittenden has five New England subsidiaries in addition to Flagship.
