Cambridge Bancorp, Optima Bank & Trust to Merge

Cambridge Bancorp, the holding company for Cambridge Trust, agreed to acquire Optima Bank & Trust, with Optima merging with and into Cambridge in a stock and cash transaction valued at approximately $67 million.

Former Salus Execs to Lead New Cambridge ABL Unit

Cambridge Trust Company named Chris O’Connor, senior vice president, and Peter Coates, vice president to lead its new Asset-Based Lending practice. Both come from Salus Capital Partners.