Photo by James Sanna | Banker & Tradesman Staff

Greater Boston will now see two bank mergers in October after Cambridge Trust Co. received regulatory approval to acquire North Andover-based Northmark Bank.

Cambridge Trust’s parent company, Cambridge Bancorp, said in a statement yesterday that the bank expects to close on its deal with Northmark on Oct. 1 after receiving all regulatory approvals. The transaction is subject to other closing conditions.

Earlier this week Easthampton-based Hometown Financial Group said it had received approval to acquire Envision Bank, which will merge into Abington Bank. That transaction is expected to close on Oct. 7.

Cambridge Trust is acquiring Northmark in an all-stock deal valued at $63 million. Northmark shareholders, who will receive 0.995 shares of Cambridge common stock for each share of Northmark stock, had approved the deal at a special meeting on Aug. 31. The deal had been announced on May 23.

Northmark Bank has about $428 million in assets and branches in North Andover, Andover and Winchester, giving Cambridge Trust its first branches in those communities. Cambridge Trust will have about $5.5 billion in assets following the deal.

Cambridge Trust President and CEO Denis Sheahan had said in May that the bank expected to find wealth management opportunities in Northmark’s market.

“It takes time to grow wealth, and that’s our experience from our prior mergers,” Sheahan said in May. “But these are terrific markets, and we would expect to have significant wealth opportunity with that client base and in those markets over time.”

Another proposed merger in Massachusetts will see Norwood Bank acquire Foxboro Federal Savings Bank. And holding company Brookline Bancorp is in the process of acquiring New York-based PCSB Bank, which will operate as a separate subsidiary alongside Brookline Bank and Bank Rhode Island.