DOB: Bulletin 2648 - November 21, 2014

The Department of Banking News Bulletin 

Bulletin # 2648
Week Ending November 21, 2014

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, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten days from the date of this bulletin.

STATE BANK ACTIVITY
Mergers

On September 15, 2014, the Commissioner approved the merger of Quinnipiac Bank and Trust Company, a Connecticut chartered bank and trust company, with and into Bankwell Bank, a Connecticut chartered bank and trust company and wholly-owned subsidiary of Bankwell Financial Group, Inc., a Connecticut corporation. The merger was approved pursuant to Section 36a-125 of the Connecticut General Statutes.

On November 5, 2014, the Commissioner approved the merger of Riverside Bank, a New York chartered bank and trust company, with and into Salisbury Bank and Trust Company, a Connecticut chartered bank and trust company and wholly-owned subsidiary of Salisbury Bancorp, Inc., a Connecticut corporation. The merger was approved pursuant to Sections 36a-412(b) and 36a-125 of the Connecticut General Statutes.


Interstate Loan Production Office

On November 17, 2014, Bank of England, an Arkansas banking corporation with its main office in England, Arkansas, opened its loan production office at 85 Wall Street Ste 1A, Madison, Connecticut.


CONSUMER CREDIT DIVISION ACTIVITY
Order Revoking Debt Negotiation License and Order to Cease and Desist

On November 10, 2014, the Commissioner issued an Order Revoking Debt Negotiation License and Order to Cease and Desist (“Order”) in the Matter of:  Strategic Debt Solutions LLC (“Respondent”), Lake Worth, Florida.  The Order was based on Respondent’s failure to maintain a surety bond that runs the entire period of its debt negotiation license, in violation of Section 36a-671d of the Connecticut General Statutes, as amended by Public Act 14-7.  The Order revokes Respondent’s debt negotiation license in Connecticut for 8461 Lake Worth Road, Suite 450, Lake Worth, Florida, and orders Respondent to cease and desist from violating Section 36a-671d of the Connecticut General Statutes, as amended.


 Dated:  Tuesday, November 25, 2014

 Howard F. Pitkin
 Banking Commissioner