Bank to Buy Back Stock for Ganis Credit Deal

Bank of Boston Corp. will buy back up to $50 million worth of its stock to make up for shares being issued for employee stock plans and the purchase of an Orange County finance company.

The bank said earlier this month that it plans to purchase Ganis Credit Corp. in Newport Beach for up to $36 million in stock.

Ganis, which employs 120 people, makes collateralized loans for recreational vehicles and boats.

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