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Three co-owned banks in Litchfield County are becoming one bank.

Collinsville Bank and Litchfield Bancorp are being folded into Northwest Community Bank, the company announced, effective yesterday.

The three institutions have been owned by Connecticut Mutual Holding Co. for some time and have each existed for over 170 years, but operated under their individual brands until now.

No branch staff reassignments or customer service interruptions are planned, the bank said in a statement.

The main motivation behind the decision was not disclosed, but Connecticut Mutual Holding Co. President and CEO Stephen Reilly said the decision “strengthens our ability to continue as a well-capitalized, locally-owned, mutual bank.”

“As it has been with our individual banks, relationship banking will remain central to our mission, and community involvement is a core value of our bank,” Reilly said in a statement.

A charitable foundation will be founded to expand community support throughout the region.