DOB: News Bulletin 1787 - May 22, 1998

The Department of Banking News Bulletin

Bulletin # 1787
Week Ending May 22, 1998

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to John P. Burke, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to Written comments will be considered only if they are received within ten days from the date of this bulletin.

Branch Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which money will be lent, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Bank Examination Division, (860) 240-8180 . Note: dates are listed in month/day/year format.

Date Bank Location Activity
5/4/98 Farmington Savings Bank
475 Broad Street
Bristol, CT 06010
5/22/98 Mechanics Savings Bank
1065 Main Street
East Hartford, CT 06108
927 Farmington Avenue
West Hartford, CT 06107
5/26/98 People's Bank
125 Boston Post Road
East Lyme, CT 06333
5/28/98 Ridgefield Bank
720 Branchville Road
Ridgefield, CT 06877


On May 19, 1998, pursuant to Section 36a-81 of the Connecticut General Statutes, approval was granted to Phoenix Charter Oak Trust Company to relocate its main office from One American Row, Hartford, Connecticut, to 38 Prospect Street, Hartford, Connecticut.


On May 18, 1998, approval was granted to Fleet Financial Group, Inc., a Rhode Island corporation, to establish offices of its subsidiary, Quick & Reilly, Inc., a New York corporation, at 244 Trumbull Street, Hartford; 129 Church Street, Suite 101, New Haven; and 777 Summer Street, Suite 101, Stamford, Connecticut.

Branch Activity

CFS Bank, formerly known as Columbia Federal Savings Bank, a federal savings bank with its main office in Woodhaven, New York, has established branches in Connecticut at the following locations on the dates indicated:

Big Y Supermarket
404 Main Street
February 27, 1998
ShopRite Supermarket
157 Cherry Street
February 12, 1998
ShopRite Supermarket
1131 Campbell Avenue
West Haven
April 7, 1998


On May 11, 1998, Judge Alfred V. Covello for the U.S. District Court for the District of Connecticut, approved a Stipulation and Consent Order entered into by and between Bank One, Utah, National Association, and John P. Burke, Banking Commissioner. Pursuant to the terms of the Order, the Commissioner agreed not to enjoin, order or in any way seek to prevent the bank from establishing and operating ATMs in the State of Connecticut, such ATMs to allow consumers to make cash withdrawals, transfer funds and make balance inquiries, all without imposing a surcharge, but not to accept deposits. The bank agreed to operate its ATMs in Connecticut in compliance with the Federal Electronic Funds Transfer Act and to deliver to the Commissioner written notice of the locations of such ATMs that the bank establishes, owns or operates in Connecticut. 

Dated: Wednesday, May 27, 1998

John P. Burke
Banking Commissioner