DOB: News Bulletin 2398 - February 5, 2010

The Department of Banking News Bulletin 

Bulletin # 2398
Week Ending February 5, 2010

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.


 
CHANGE OF NAME
 
On February 1, 2010, pursuant to Section 36a-82 of the Connecticut General Statutes, The Chelsea Groton Savings Bank, Norwich, filed an application with the Commissioner to change its name to Chelsea Groton Bank.  Written objections to such application may be made, for a period of 30 days from the date of publication of this bulletin, on the grounds that the name selected will tend to confuse the public.
 
COMMUNITY REINVESTMENT PLAN
 
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 a community reinvestment plan that is available for public inspection and comment at the Department of Banking for a period of 30 days.  The filing was made in connection with an application for the merger of The First National Bank of Litchfield with and into Union Savings Bank that was filed on  December 23, 2009, pursuant to Sections 36a-125 and 36a-126 of the Connecticut General Statutes, and the acquisition statement for Union Savings Bank to acquire First Litchfield Financial Corporation, and indirectly The First National Bank of Litchfield that was filed on  January 25, 2010, pursuant to Section 36a-184 of the Connecticut General Statutes.
 
CONSUMER CREDIT DIVISION ACTIVITY
Order Revoking and Refusing to Renew Mortgage Broker License
and Order to Cease and Desist
 
On January 29, 2010, the Commissioner issued an Order Revoking and Refusing to Renew Mortgage Broker License and Order to Cease and Desist (“Order”) in the Matter of:  C.C. Mortgage Company LLC (“Respondent”).  The Order revokes and refuses to renew Respondent’s license to act as a mortgage broker in Connecticut from 55 Rampart Drive, Glastonbury, Connecticut, and was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Acts 09-208 and 09-209.  A copy of the Order can be obtained from the Department’s website.
 
Order Revoking Mortgage Lender License and Order to Cease and Desist
 
On January 29, 2010, the Commissioner issued an Order Revoking Mortgage Lender License and Order to Cease and Desist (“Order”) in the Matter of:  CornerStone Bancor Mortgage Corp. d/b/a CornerStone Bancor (“Respondent”).  The Order revokes Respondent’s license to engage in the business of a mortgage lender in Connecticut from 208 Route 109, Suite 100, Farmingdale, New York, and was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 09-209.  A copy of the Order can be obtained from the Department’s website.
 
 
       Dated:  Tuesday, February 9, 2010
 
       Howard F. Pitkin
       Banking Commissioner