Fleet completes merger with Summit

BOSTON — FleetBoston Financial announced that it had completed its merger with
Summit Bancorp of New Jersey. Fleet announced that the combined banks will have
assets in excess of $200 billion and will rank as the seventh largest bank holding
company in the country with 60,000 employees and 22 million customers worldwide.
Until the integration of the banks’ systems is completed this summer, the Fleet
and Summit banks will continue to operate independently, FleetBoston announced.