DOB: News Bulletin 2057 - July 25, 2003

The Department of Banking News Bulletin 

 Bulletin # 2057
Week Ending July 25, 2003

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, Commissioner of Banking, 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.


BRANCH ACTIVITY
State Bank 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) 240-8183. Note: dates are listed in month/day/year format.

Date Bank Location Activity
07/23/2003 Farmington Savings Bank
Farmington
962 Farmington Avenue
West Hartford, CT  06107
filed
07/25/2003 Bank of Westport
Westport
1312 Post Road
Fairfield, CT  06824
opening
date

ACQUISITION

On July 17, 2003, pursuant to Section 36a-185 of the Connecticut General Statutes, the Commissioner issued a notice of intent not to disapprove the acquisition by Capital Investments Management Limited, and indirectly by Orbitex Management Limited, of more than 25% of the voting securities of Circle Trust Company.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Issuer of Securities Fined $2,500 for Delinquent Rule 506 Notice Filings

On July 22, 2003, the Banking Commissioner entered into a Stipulation and Agreement with Medical Media Systems, Inc. of 12 Commerce Lane, West Lebanon, New Hampshire. The Stipulation and Agreement alleged that the company, an issuer of securities, had been two and three years late in making two Rule 506 notice filings under the Connecticut Uniform Securities Act. Section 36b-21(e) of the Act requires the filing of a Rule 506 notice within 15 days following the first sale of securities in this state. In resolution of the matter, the company agreed to pay a $2,500 fine to the department.

Dated: Tuesday, July 29, 2003

John P. Burke
Commissioner