DOB: News Bulletin 2243 - February 16, 2007

The Department of Banking News Bulletin 

Bulletin # 2243
Week Ending February 16, 2007

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 Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. Written comments will be considered only if they are received within ten days from the date of this bulletin.


 

ORGANIZATION OF HOLDING COMPANY
 
On February 13, 2007, pursuant to Section 36a-181 of the Connecticut General Statutes, The Bank of New Canaan, a capital stock Connecticut bank, filed an application for approval to organize a bank holding company, BNC Financial Group, Inc.  Pursuant to an Agreement and Plan of Reorganization filed with the application, BNC Financial Group, Inc., will acquire all the issued and outstanding shares of The Bank of New Canaan.  In connection with the application, The Bank of New Canaan also filed a community reinvestment plan that is available for public inspection and comment at the Department of Banking for a period of 30 days.
 
ACQUISITION
 
On February 14, 2007, pursuant to Sections 36a-412(b) and 36a-210(b) of the Connecticut General Statutes, the Commissioner approved the application of Salisbury Bank and Trust Company to acquire and continue to operate a branch located at One Pathmark Plaza, Mount Vernon, New York.  Also on February 14, 2007, pursuant to Section 36a-145(j) of the Connecticut General Statutes, the Commissioner approved the application of Salisbury Bank and Trust Company to establish a branch at 5 Dover Village Plaza, Suite #1, Dover Plains, New York.
 
 
       Dated:  Wednesday, February 21, 2007
 
       Howard F. Pitkin
       Banking Commissioner