Union Bankshares Co., the parent company of Union Trust Co., has announced it will sell Union Trust’s Rockland branch to Machias Savings Bank.

The purchase is expected to be completed by the end of February, subject to regulatory approval. The Rockland branch’s loan portfolio will remain with Union Trust and be assumed by Camden National Corp.

The sale was planned as part of the previously announced merger of Union Bankshares Co. and Camden National. The merger has received regulatory approval and is expected to close in early January.

In a joint statement, Peter A. Blyberg, president and CEO of Union Bankshares, and Edward L. Hennessey Jr., president and CEO of Machias Savings Bank, said: “Both banks were exploring various strategic options regarding operating branches in the Midcoast, and we’re pleased that a creative solution has been found which will benefit the banks as well as the communities they serve. We will work closely together for a smooth transition for our customers.”