Building society in takeover talks

A BUILDING society with a branch in Boston could be swallowed up by a larger competitor.

The Norwich & Peterborough, which has premises in Market Place, has confirmed that it is in discussions with the Yorkshire Building Society.

Asked if members might be in line for a windfall payment in the event of the deal going through, a N&P spokesman replied: “No definite decisions have yet been made.”

The chief executive of the N&P, Matthew Bullock, is due to retire at this end of this month.

The society also has a branch in Louth but it closed its office in Spilsby in March last year.