DOB: News Bulletin 2366 - June 26, 2009

The Department of Banking News Bulletin 

Bulletin # 2366
Week Ending June 26, 2009

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 certain applications 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
6/22/09
Fairfield County Bank
Ridgefield
215 Post Road West
Westport, CT  06880
opening
date
6/24/09
Liberty Bank
Middletown
1169 Farmington Avenue
Berlin, CT  06037
approved
6/30/09
Liberty Bank
Middletown
*12 Hope Street
  Niantic, CT  06357
opening
date
*Limited branch

ORDER TO CEASE AND DESIST
 
On May 7, 2009, the Federal Deposit Insurance Corporation (FDIC), with the concurrence of the Banking Commissioner, issued an Order to Cease and Desist against Darien Rowayton Bank.  The order may be viewed on the FDICs website.
 
MERGER
 
On June 22, 2009, pursuant to Section 36a-125 of the Connecticut General Statutes, the Commissioner approved the merger of Castle Bank & Trust Company, a Connecticut bank, with and into Naugatuck Savings Bank, a Connecticut bank, both wholly-owned subsidiaries of Nutmeg Financial, MHC, the resultant bank to operate under the name Naugatuck Savings Bank.
 
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Consent Order
 
On June 24, 2009, the Banking Commissioner entered a Consent Order resolving the matters set forth in a December 1, 2008 Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing issued against Jesse John Hinkley of New Fairfield, Connecticut.  The respondent had been associated with New Castle Financial Services LLC, a securities brokerage firm.  The Order to Cease and Desist and Notice of Intent to Fine had alleged that, between November 8, 2006 and July 16, 2007 and in violation of Section 36b-6(a) of the Connecticut Uniform Securities Act, the respondent transacted business as an agent of New Castle Financial Services LLC while unregistered.  In addition, the action alleged that the respondent violated the antifraud provisions in Section 36b-4 of the Act by using scripted sales presentations that contained various false and misleading statements of material fact.
 
The Consent Order barred Hinkley for ten years from transacting business in Connecticut as a broker-dealer, agent, investment adviser or investment adviser agent.  The Consent Order also directed Hinkley to cease and desist from regulatory violations and required that he pay a $2,500 fine.
 
 
       Dated:  Tuesday, June 30, 2009
 
       Howard F. Pitkin
       Banking Commissioner