DOB: News Bulletin 1832 - April 2, 1999

The Department of Banking News Bulletin

Bulletin # 1832
Week Ending April 2, 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.


DE NOVO BRANCH

On March 29, 1999, Westminster Development Bank, with its main office located in Providence, Rhode Island, filed an application pursuant to Section 36a-412(a)(2) of the Connecticut General Statutes, to establish a de novo limited branch at 333 East River Drive, Suite 305, East Hartford, Connecticut.

SALE OF A BRANCH

Pursuant to the provisions of Section 36a-145(h) of the Connecticut General Statutes, on March 29, 1999, New Milford Savings Bank requested approval to sell its branch located at 200 New Hartford Road, Route 44, Winsted, Connecticut, to American Bank of Connecticut, Waterbury.

ACQUISITION AND MERGER

On April 1, 1999, pursuant to Section 36a-185 of the Connecticut General Statutes, the Banking Commissioner issued a Notice of Intent Not to Disapprove the acquisition by Webster Financial Corporation of all of the outstanding voting securities of Maritime Bank & Trust Company subject to the following conditions: (1) prior to consummation of the acquisition, Maritime Bank & Trust Company shall have obtained the requisite shareholder vote and Webster Financial Corporation, Webster Bank and Maritime Bank & Trust Company shall have obtained all approvals required under federal law, and (2) Webster Financial Corporation shall submit evidence of the above-mentioned vote and approvals to the Bank Examination Division of this department.

SECTION 36a-425 APPLICATION

On March 29, 1999, an application was filed by BankAmerica Corporation, a Delaware corporation, to establish an office of its subsidiary, NationsCredit Financial Services Corporation, a North Carolina corporation, at Commerce Center One, 333 East River Drive, East Hartford, Connecticut.

Dated: Tuesday, April 6, 1999

John P. Burke
Banking Commissioner