DOB: News Bulletin 2252 - April 20, 2007

The Department of Banking News Bulletin 

Bulletin # 2252
Week Ending April 20, 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.



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 Financial Institutions Division, (860) 240-8180.

 

Date Bank Location Activity
4/23/07
Thomaston Savings Bank
Thomaston
1625 Straits Turnpike
Middlebury, CT 06762
opening
date
State Credit Union Activity
Date Credit Union Location Activity
4/17/07
Dutch Point Credit Union, Inc.
Wethersfield
457 Willard Avenue
Newington, CT  06111
approved

ACQUISITION
 
On April 16, 2007, pursuant to Section 36a-184 of the Connecticut General Statutes, an acquisition statement was filed by Christopher J. Lavin to acquire more than 10% but less than 25% of the outstanding shares of common stock of The Wilton Bank, a Connecticut bank and trust company.
 
NEW BANK ACTIVITY
Order for Hearing
 
Pursuant to Section 36a-70 of the Connecticut General Statutes, the Commissioner has ordered a hearing to be held on May 18, 2007 at 10:00 a.m. in Room 50 of the Department of Banking, 260 Constitution Plaza, Hartford, Connecticut, on the application of Robert Bantle, Stephen Carta, Thomas DiMaio, Gene Gorab, Tara Hawley and Brian Riley to organize Harbor Bank and Trust, Southport, Connecticut, for the purpose of doing business as a Connecticut bank.
 
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Order to Cease and Desist, Notice of Intent to Fine Issued
in Connection With Promissory Note Sales
 
On April 19, 2007, the Commissioner issued an Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing against The McCall Business Group, LLC d/b/a MBG Trading of 3047 Pinewood Hills Drive, Matthews, North Carolina, and Cauzae McCall, principal of the company.  The respondents previously maintained a place of business at 23 Schoolhouse Road, Old Saybrook, Connecticut and 222 Stonehouse Lane, Guilford, Connecticut.  The action alleged that from at least September 2003 forward, the respondents offered and sold unregistered promissory notes in violation of Section 36b-16 of the Connecticut Uniform Securities Act.   In addition, the action claimed that the respondents violated the antifraud provisions of the Act by 1) not disclosing to investors the risk factors underlying the investment as well as financial information on the respondents and the work history of The McCall Business Group, LLC’s managing member; and 2) guaranteeing a 100% return on the investment.  The respondents were afforded an opportunity to request a hearing on the Order to Cease and Desist.  A hearing on the Notice of Intent to Fine has been scheduled for May 30, 2007.
 
       Dated:  Tuesday, April 20, 2007
 
       Howard F. Pitkin
       Banking Commissioner