The little bank from Enfield that grew into a major international financial institution over the past decade is about to become part of UPS Capital.

UPS and Hartford-based First International Bancorp announced Tuesday that the Atlanta-based company that also operates a major freight shipping company, will buy the bank for $78 million in UPS Capital stock.

The transaction, which is subject to approval from state and federal banking regulators, is expected to be finalized by the end of June, according to First International Chairman and Chief Executive Officer Brett N. Silvers.

But the bank's 220 employees - about 160 in Hartford - won't be laid off as a result of the buyout, Silvers said, because there is very little redundancy of services between UPS Capital and the bank.

"The plans are for the company to remain intact," Silvers said, except that it will become a wholly owned subsidiary of UPS Capital.

Robert Bernabucci, UPS Capital's CEO, echoed Silvers' prognosis for the Hartford office.

"We see she future as a continuation of the past," Bernabucci said, explaining that UPS Capital for the most part will bolster First International's financial strength to continue doing what it has been doing for years.

The bank is a national leader in providing small and medium-sized businesses with government-backed loans, through the U.S. Small Business Administration.

In addition to retaining its Hartford office, the bank also will keep its managers, including Silvers, who will become president of the UPS Capital subsidiary.

The only change will be that Silvers and others at the bank will report to Bernabucci.

The bank started in 1955 as a tiny company then known as First National Bank of Enfield. But it began broadening its appeal in 1983 when it changed its name to First National Bank of Connecticut.

A year later, it moved its headquarters to Hartford.

And by 1994, it became Fist National Bank of New England, eventually closing its two Enfield banking offices.

Its emphasis shifted from serving individual depositors to business financing.

The bank also pulled itself out of financial difficulties during the transition period, from a losing year in 1990, when the bank lost $1,72 million, to a turnaround a year later, when the bank earned $53,000.

That was the same year the bank went public, selling $1.25 million in common stock.