DOB: News Bulletin 2392 - December 25, 2009

The Department of Banking News Bulletin 

Bulletin # 2392
Week Ending December 25, 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
12/21/09
Naugatuck Savings Bank
Naugatuck
FROM: 100 Hanover Street
          Meriden, CT 06451
TO:     500 West Main Street
          Meriden, CT 06451
approved

 ACQUISITION
 
On December 23, 2009, pursuant to Section 36a-185 of the Connecticut General Statutes, the Commissioner issued a notice of intent not to disapprove the acquisition by Alcar LLC of approximately 91 percent of the voting securities of Darien Rowayton Bank, the indirect acquisition by Gary Lieberman of more than 25 percent of the voting securities of Darien Rowayton Bank and the indirect acquisition by The Robert Hirt and Tracey Najarian Hirt Revocable Living Trust of more than 10 percent of the voting securities of Darien Rowayton Bank.
 
MERGER
 
On December 23, 2009, pursuant to Sections 36a-125 and 36a-126 of the Connecticut General Statutes, Union Savings Bank, a Connecticut-chartered mutual savings bank, and The First National Bank of Litchfield, a national bank and wholly-owned subsidiary of First Litchfield Financial Corporation, a Delaware corporation, filed an application for the merger of The First National Bank of Litchfield with and into Union Savings Bank
 
CONSUMER CREDIT DIVISION ACTIVITY
Order Revoking and Refusing to Renew Mortgage Broker License
and Order to Cease and Desist
 
On December 14, 2009, the Commissioner issued an Order Revoking and Refusing to Renew Mortgage Broker License and Order to Cease and Desist (“Order”) in the Matter of:  Civic Mortgage Group, Inc. (“Respondent”).  The Order revokes and refuses to renew Respondent’s mortgage broker license at 128 Dorrance Street, Suite 550, Providence, Rhode Island, and orders Respondent to cease and desist from violating Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 09-209.  The Order was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492 of the Connecticut General Statutes, as amended.  A copy of the Order can be obtained from the Department’s website.
 
Settlement Agreement and Withdrawal of Order of Summary Suspension
 
On December 14, 2009, the Commissioner entered into a Settlement Agreement and Withdrawal of Order of Summary Suspension with Eagle Mortgage Lending, LLC d/b/a Eagle Financial Lending (“Eagle Mortgage”).  On August 25, 2009, as a result of an investigation, the Commissioner alleged in a Temporary Order to Cease and Desist, Order of Summary Suspension, Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing that Eagle Mortgage, in violation of Section 36a-492(a) of the Connecticut General Statutes, failed to maintain a surety bond that ran concurrent with its license to act as a mortgage broker in Connecticut from 800 Summer Street, Suite 210, Stamford, Connecticut.  The Settlement Agreement and Withdrawal of Order of Summary Suspension was based on Eagle Mortgage having filed a replacement bond.  A copy of the Settlement Agreement can be obtained from the Department’s website.
 
Order Revoking Mortgage Broker License and Order to Cease and Desist
 
On December 14, 2009, the Commissioner issued an Order Revoking Mortgage Broker License and Order to Cease and Desist (“Order”) in the Matter of:  Newtown Mortgage Corporation (“Respondent”).  The Order revokes Respondent’s mortgage broker license at 13532 Old Statesville Road, Huntersville, North Carolina, and orders Respondent to cease and desist from violating Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 09-209.  The Order was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492 of the Connecticut General Statutes, as amended.  A copy of the Order can be obtained from the Department’s website.
 
       Dated:  Tuesday, December 29, 2009
 
       Howard F. Pitkin
       Banking Commissioner