DOB: News Bulletin 1821 - January 15, 1999

The Department of Banking News Bulletin

Bulletin # 1821
Week Ending January 15, 1999

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 john.burke@ct.gov. Written comments will be considered only if they are received within ten days from the date of this bulletin.


STATE BANK ACTIVITY
Branch Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, 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
1/04/99 People's Bank
Bridgeport
**226 Main Street
   Southport, CT 06490
effective
date
1/15/99 The Simsbury Bank &
   Trust Company
Simsbury
27 Dale Road
Avon, CT 06001
approved
2/01/99 Citizens Bank
  of Connecticut
New London
816 Long Hill Road
Groton, CT 06340
opening
date
2/01/99 Fairfield County
  Savings Bank
Norwalk
*707 Connecticut Avenue
  Norwalk, CT 06854
opening
date
*  Limited Branch
** Conversion from Branch to Limited Branch

SECTION 36a-425 APPROVALS

On January 15, 1999, approval was granted to KeyCorp, an Ohio corporation, to establish offices of two of its subsidiaries, Key Corporate Capital Inc., a Michigan corporation, at 396 Danbury Road, Wilton, and Leasetec Corporation, a Delaware corporation, at 191 Post Road West, Westport, Connecticut.

ACQUISITIONS

On January 12, 1999, pursuant to Section 36a-411 of the Connecticut General Statutes, the Banking Commissioner approved the application filed by Westbank Corporation to acquire and retain the ownership or control of 100% of the issued and outstanding voting stock of Cargill Bancorp, Inc. and Cargill Bank. The Commissioner also issued, pursuant to Section 36a-185 of the Connecticut General Statutes, as amended by Public Act 98-260, a notice of intent not to disapprove the acquisition by Westbank Corporation of 100% of the beneficial ownership of the issued and outstanding voting stock of Cargill Bancorp, Inc. and Cargill Bank.

On January 15, 1999, Hudson United Bank, a bank chartered under the laws of New Jersey, with its main office located in Union City, New Jersey, filed an application pursuant to Section 36a-412(a)(1) of the Connecticut General Statutes, as amended by Public Act 98-177, to acquire the sole branch at 280 Trumbull Street, Hartford, Connecticut, of First National Bank of New England, a national bank, with its main office located in Hartford, Connecticut. In connection with the application, Hudson United Bank also filed a community reinvestment plan which is available for public inspection and comment at the Department of Banking for a period of 30 days.

Dated: Wednesday, January 20, 1999

John P. Burke
Banking Commissioner