In Brief: Banknorth Paying Less for First.(Banknorth Group Inc. acquisition of First and Ocean Bancorp)(Brief Article)

Banknorth Group Inc. of Portland, Maine, said Tuesday it expects to close its deal for First and Ocean Bancorp of Newburyport, Mass., today.

On Sept. 3, Banknorth said it would pay $51 million in cash for the $274 million-asset First and Ocean, but on Tuesday it said the price had dropped slightly, to $49.7 million.

The $26 billion-asset Banknorth has made two more deals in Massachusetts in the last two months. On …