DOB: Bank Mergers/Acquisitions in CT 1990 to 1999

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Bank Mergers and Acquisitions
1990 to 1999

The following tables show mergers and acquisitions of banks located in Connecticut from 1990 through 1999. All cities and towns are in Connecticut, unless otherwise indicated. Approval and effective dates are shown in month/day/year format. Visit our banks in Connecticut page for institution contact information.

  Bank Mergers & Acquisitions 
By Year
1990 5
1991 2
1992 1
1993 5
1994 8
1995 13
1996 11
1997 14
1998 6
1999 8

Go to mergers and acquisitions by year:

1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999

[ Current Listing | Historical: 1980-1989 ]

 

1990
2/20 Omnibank of Connecticut, Inc. with and into New England Savings Bank, New London
4/12 Columbia Acquisition Federal Savings Bank with and into Gateway Bank.
Note: Columbia Federal Savings Bank, Westport, was earlier taken over by the Office of Thrift Supervision and placed under conservatorship of the Resolution Trust Corporation.
11/3 The Seymour Trust Company, Seymour, with and into Connecticut National Bank, Hartford
11/3 Chester Bank, Chester, with and into Connecticut National Bank, Hartford
12/14 State Savings Bank, N.A., Southington, merged with and into Connecticut National Bank, Hartford

 

1991
1/18 First Central Bank, Hartford, merged with and into Central Bank, Meriden
4/29 Greenwich Trust Co. merged with and into Bank of Stamford
Note: Bank of Stamford changed its name to Fairfield County Trust on 9/20/91.

 

1992
8/14 City Savings Bank of Meriden merged with and into The Dime Savings Bank of Wallingford.

 

1993
1/1 Bristol Federal Savings Bank merged with First Federal Savings and Loan Association of Torrington to form Eagle Federal Savings Bank, headquartered in Bristol.
2/10 Department of Banking approved the merger of American National Bank, a capital stock bank in Hamden, with and into Lafayette Bank and Trust Company in Bridgeport, a state capital stock bank. On March 8, 1993, the resultant bank began operations as Lafayette American Bank and Trust Company.
4/30 Approval granted to First Fidelity Bancorporation Inc., New Jersey, and Banco Santander, S.A., a Spanish bank holding company, to acquire Northeast Bancorp, Inc, and its subsidiary Union Trust Company, Stamford.
Takeover completed on 5/4/93
7/9 Banking Commissioner approved merger of Bank of Boston Connecticut, Waterbury with and into Society For Savings, Hartford on 4/28/93, and merger became effective on 7/9/93. Approval granted to Society For Savings to change its name to Bank of Boston Connecticut on 5/28/93.
11/19 Approval granted for Stamford Federal Savings Bank to acquire Sentry Savings and Loan Association, Stamford.

 

1994
1/1 Danielson Federal Savings and Loan Association merged with New London Trust of New Hampshire, and began operating as New London Trust, FSB.
1/31 First Fidelity Bancorporation, New Jersey, the parent of Union Trust Company, Stamford, acquired Greenwich Financial Corporation and its subsidiary, Greenwich Federal Savings and Loan. Greenwich Federal Savings and Loan merged with and into Union Trust.
3/4 Webster Financial Corporation, Waterbury, acquired Bristol Savings Bank. Bristol Savings to operate as a wholly-owned subsidiary of Webster Financial Corporation.
3/18 The Bank of Waterbury acquired by Centerbank, Waterbury as of the close of business
4/29 Banking Commissioner approved the merger of NM Bank, a state capital bank in organization, with and into Candlewood Bank & Trust Company, New Milford, and the subsequent merger of Candlewood Bank & Trust Company with and into The New Milford Bank & Trust Company.
5/31 The Federal Savings Bank, New Britain, with and into MidConn Bank, Kensington
6/27 Gateway Financial Corporation with and into Shawmut Service Corporation and Gateway Bank, Norwalk, with and into Shawmut Bank Connecticut, N.A., Hartford
12/16 Approval granted to Webster Financial Corporation, the holding company for First Federal Bank and Bristol Savings Bank, to acquire Shoreline Bank and Trust Co., Madison, through the merger of Shoreline Bank and Trust Co. with and into First Federal Bank, a federal savings bank.

 

1995
3/10 Approval granted to Norwich Financial Corporation and its subsidiary, the Norwich Savings Society, to acquire The Bank of Mystic, Inc. by merging The Bank of Mystic with and into Norwich Savings Society.
Effective 4/1/95
5/1 Approval given to The Chase Manhattan Bank of Connecticut, N.A., to convert from a federal capital stock bank to a state capital stock bank to be called The Chase Manhattan Bank of Connecticut. Approval also issued to the Chase Manhattan Corporation, a bank holding company, and its subsidiary Chase Savings Bank, a New York chartered savings bank in formation, for the merger of The Chase Manhattan Bank of Connecticut with and into Chase Savings Bank.
Note: This was the first application filed in Connecticut under the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994.
6/6 Shawmut National Corporation received approval to acquire 100% of the issued and outstanding common stock of Northeast Federal Corporation and, indirectly, its wholly-owned subsidiary, Northeast Savings, F.A.
6/19 Banking Commissioner approved the merger of Liberty National Bank, Danbury, with and into The Village Bank & Trust Company, Ridgefield.
9/1 On 8/23 The Bank of New York Company, Inc. received a temporary certificate of authority to establish PTC Bank as an interim Connecticut bank, and approval to acquire indirectly and retain the ownership or control of all of the issued and outstanding common stock of The Putnam Trust Company of Greenwich through the merger of The Putnam Trust Company of Greenwich with and into PTC Bank, the resultant bank to operate as a bank and trust company named The Putnam Trust Company.
New entity became effective 9/1/95
10/12 Webster Financial Corporation, Waterbury, the holding company for both First Federal, FSB and Bristol Savings Bank, acquired Shelton Bancorp, Inc. and its wholly-owned subsidiary, Shelton Savings Bank. As part of the transaction, Bristol Savings Bank, a state-chartered capital stock savings bank, was granted approval by the banking commissioner to convert to a capital stock federal savings bank to be named Webster Bank. Subsequent to this approval, First Federal Bank, FSB received federal regulatory approval to merge with and into Webster Bank. Shelton Savings Bank also merged with and into Webster Bank.
10/30 Approval granted for the acquisition of RCB Trust Company, Stamford, a subsidiary of RCB International, Inc., by Northern Trust Corporation, Chicago, Illinois. Institution continued to operate as RCB Trust Company.
11/13 Approval granted for New England Community Bancorp, Inc., Windsor, the parent of New England Bank & Trust Co., to acquire all shares of common stock of The Equity Bank, Wethersfield, and make the holding company a two-bank holding company.
11/17 Banking Commissioner approved application by Fleet Financial Group, Inc., Providence, RI, to acquire and retain direct and indirect ownership and control of 100% of the voting stock of Shawmut National Corporation and Shawmut Bank Connecticut, N.A.
11/29 Approval granted to the application of Norwich Financial Corp., indirectly, and The Norwich Savings Society, directly, to acquire all of the capital stock of the Bank of Southeastern Connecticut, Waterford, and to merge the Bank of Southeastern Connecticut with and into The Norwich Savings Society.
Effective 1/2/96
12/11 Approval granted to the application of First Union Corporation, a North Carolina holding company, and its wholly-owned subsidiary, First Union Corporation of New Jersey, to acquire and retain ownership and control of 100% of the voting stock of Northeast Bancorp, Inc., and its wholly-owned subsidiary, First Fidelity Bank, Stamford.
Note: On 1/1/96, First Fidelity Bank changed its name to First Union Bank of Connecticut.
12/12 Approval granted for the merger of Winsted Savings Bank with and into Northwest Bank For Savings, resulting in a mutual savings bank to operate under the name Northwest Community Bank.
Effective 1/1/96
12/15 Approval granted for the merger of Great Country Bank, Ansonia, with and into Centerbank, Waterbury

 

1996
4/12 Approval granted to Center Financial Corporation, the holding company for Centerbank, Waterbury, and Heritage Bank, Watertown, to merge Heritage Bank with and into Centerbank.
Effective 4/15/96
6/17 Approval granted to HUBCO, Inc., a New Jersey bank holding company, to acquire indirectly and retain the ownership and control of 100 % of the issued and outstanding stock of Lafayette American Bank and Trust Company, Bridgeport
7/1 Manchester State Bank with and into New England Bank and Trust Company, Windsor.
Effective 7/11/96
8/28 Approval granted to HUBCO, Inc., a New Jersey bank holding company, to acquire Hometown Bancorporation, Inc., holding company for the Bank of Darien. Subsequent approval given for the merger of the Bank of Darien with and into Lafayette American Bank & Trust Company, Bridgeport, a HUBCO subsidiary.
Effective date 8/30/96
9/9 Approval granted for the merger of The Jewett City Trust Company with and into Jewett City Savings Bank.
Effective date 9/16/96
10/28 Approval granted to the First National Bank of Boston and BayBank, N.A., for the merger of BayBank, N.A., with and into The First National Bank of Boston, the resulting entity to be known as BankBoston, N.A.
11/5 Approval granted to the The Royal Bank of Scotland Group plc and its wholly-owned subsidiary, The Royal Bank of Scotland plc, both corporations organized under the laws of Great Britain; the Governor and Company of the Bank of Ireland; Citizens Financial Group, Inc., Providence, RI, and its wholly-owned subsidiary, Citizens Savings Bank, Rhode Island, and Farmers & Mechanics Bank, Middletown, to applications that would (1) permit Citizens Financial Group, Inc. to establish Citizens Interim Bank, (2) merge Citizens Interim Bank with and into Farmers and Mechanics Bank, and (3) permit the acquisition of 100 % of the outstanding stock of Farmers & Mechanics Bank by the Royal Bank of Scotland Group plc, Bank of Ireland, and Citizens Financial Group, Inc., with the resulting bank to operate as a state chartered savings bank under the name of Citizens Bank of Connecticut.
Effective11/6/96
Please note: On 11/27, another application was approved permitting Citizens Bank of Connecticut to acquire 18 Connecticut branches operated by Citizens Savings Bank, Rhode Island.
Effective 12/1/96
11/12 Approval granted to HUBCO, Inc., a New Jersey bank holding company, and the holding company for Lafayette American Bank and Trust Company, to acquire Westport Bancorp, Inc., the holding company for Westport Bank and Trust Company, and for the simultaneous merger of Westport Bank and Trust with and into Lafayette American Bank and Trust.
Effective 12/13/96
11/13 Approval granted to First Union Corporation, Charlotte, NC, the holding company for First Union Bank of Connecticut, Stamford, to acquire Center Financial Corporation, holding company of Centerbank, Waterbury, and simultaneously merge Centerbank with and into First Union Bank of Connecticut.
Effective 11/14/96
11/15 Approval granted for The Putnam Trust Company, Greenwich, to merge with and into The Bank of New York, New York, NY, with the Connecticut branches to do business as Putnam Trust, A Bank of New York Division.
Effective 12/1/96
11/22 Approval granted to HUBCO, Inc., a New Jersey bank holding company, and the holding company for Lafayette American Bank and Trust Company, Bridgeport, to acquire UST Bank/Connecticut, Bridgeport, and for the simultaneous merger of UST Bank/Connecticut with and into Lafayette American Bank and Trust.
Effective 11/29/96

 

1997
1/9 Approval granted to Webster Financial Corporation, holding company for Webster Bank, Waterbury, to acquire DS Bancor, Inc. and, indirectly, Derby Savings Bank and the subsequent merger of Derby Savings Bank with and into Webster Bank.
Effective 1/31/97
4/23 Approval granted to application and acquisition statement by U.S. Trust Corporation, New York, to acquire the newly-formed U.S. Trust Bank of Connecticut, Inc., Greenwich, and a subsequent application by U.S. Trust Corporation, on behalf of U.S. Trust Company of Connecticut, a state-chartered limited purpose trust company headquartered in Stamford, and U.S. Trust Bank of Connecticut, Inc., to merge U.S. Trust Company of Connecticut with and into U.S. Trust Bank of Connecticut, Inc., the resulting bank to operate as a bank and trust company under the name of U.S. Trust Company of Connecticut, Greenwich.
5/29 MidConn Bank, Berlin, acquired by Eagle Financial Corp., Bristol, the holding company for Eagle Bank, and merged with and into Eagle Bank.
Effective 6/1/97
Note: During the application process, effective 4/8, Eagle Federal Savings Bank changed its name to Eagle Bank.
7/22 Banking Commissioner issued a Notice of Intent Not to Disapprove the acquisition by Webster Financial Corporation, Waterbury, holding company for Webster Bank, of all of the outstanding voting securities of People’s Savings Bank and Trust, New Britain. People’s Savings Bank and Trust merged with and into Webster Bank.
Effective 8/1/97
7/29 Approval granted to application by First Union National Bank, Charlotte, North Carolina, to merge First Union Bank of Connecticut, Stamford, with and into First Union National Bank.
Effective 8/1/97
8/1 Webster Financial Corporation, Waterbury, holding company for Webster Bank, acquired Sachem Trust, National Association, Guilford. Subsequently, Webster combined the trust operations of People’s Savings Bank and Trust, New Britain, with the trust operations of Sachem Trust and formed a separate subsidiary of Webster Bank, known as Webster Trust Company, a limited purpose trust company chartered by the Office of the Comptroller of the Currency, based in Guilford but with operations in New Britain.
8/1 Approval granted for the merger of First Bank of West Hartford with and into New England Bank and Trust Company, Windsor.
Effective 8/7/97
8/26 Approval issued for the application of The Royal Bank of Scotland Group plc and its wholly-owned subsidiary, The Royal Bank of Scotland plc, both corporations organized under the laws of Great Britain; the Governor and Company of The Bank of Ireland; Citizens Financial Group, Inc., Providence, RI, and its wholly- owned subsidiary, Citizens Bank of Connecticut, a state-chartered savings bank, and The Bank of New Haven, a wholly-owned subsidiary of BNH Bancshares, Inc to: (1) establish a merger sub, as a direct, wholly-owned subsidiary of Citizens Bank of Connecticut, (2) acquire the voting securities of BNH Bancshares, Inc., and indirectly, of 100 % of the outstanding stock of the Bank of New Haven by Citizens Bank of Connecticut, (3) the indirect acquisition by the Royal Bank of Scotland Group plc, The Royal Bank of Scotland plc, The Governor and Company of the Bank of Ireland, and Citizens Financial Group, Inc., of the voting securities of BNH Bancshares, Inc., and 100 % of the outstanding stock of The Bank of New Haven, and (4) to merge Citizens Bank of Connecticut and The Bank of New Haven, with Citizens Bank of Connecticut as the surviving bank.
Effective 8/29/97
10/15 Approval granted for the merger of First New London Savings and Loan Association with and into Liberty Bank, Middletown.
Effective close of business 10/31/97
10/15 Approval granted for the merger of Bank of Boston Connecticut, Hartford, a state-chartered savings bank, with and into BankBoston, N.A., a national banking association with its main office in Boston.
Effective 10/16/97
12/9 Approval was granted for the acquisition by North Fork Bancorporation, Inc., Melville, N.Y., of Branford Savings Bank, a Connecticut state-chartered savings bank, through the establishment of an interim Connecticut bank as a subsidiary of North Fork and subsequent merger of the interim bank with and into Branford, the resulting bank to operate as a state-chartered capital stock savings bank under the name Branford Savings Bank.
Effective Dec. 12, 1997
12/15 Approval was granted for the acquisition by SIS Bancorp Inc., Springfield, MA, holding company of Springfield Institution for Savings, a Massachusetts state-chartered savings bank, of Glastonbury Bank and Trust Company. Glastonbury Bank and Trust Company will become a wholly-owned subsidiary of SIS and remain a Connecticut chartered commercial bank operating under the name of Glastonbury Bank and Trust Company.
Effective December 17, 1997
12/22 Approval was granted to the application filed by New England Community Bancorp, Inc., Windsor, holding company for New England Bank and Trust Company, Windsor, and of Equity Bank, Wethersfield, and Community Savings Bank, Bristol, for the acquisition by New England Community Bancorp of Community Savings Bank through the formation of an interim bank and the subsequent merger of the interim bank with and into Community Savings Bank, the resulting bank to operate as a state bank and trust company under the name Community Bank.
Effective December 31, 1997
12/23 Approval was granted to HUBCO, Inc., Mahwah, NJ, the holding company for Lafayette American Bank, Bridgeport, for the acquisition by HUBCO of The Bank of Southington and the merger of The Bank of Southington with and into Lafayette American Bank.
Effective January 9, 1998

 

1998
2/19 People’s Bank, a state-chartered savings bank headquartered in Bridgeport, received approval to acquire Norwich Financial Corporation and The Norwich Savings Society and for the subsequent merger of The Norwich Savings Society with and into People’s Bank.
Effective February 24, 1998
4/15 Webster Financial Corporation, Waterbury, holding company for Webster Bank, a federal savings bank headquartered in Waterbury, completed its acquisition of Eagle Financial Corporation, Bristol, holding company for Eagle Bank, also a federal savings bank, headquartered in Bristol.
Effective April 20, 1998
(Note: Since both entities were federal savings banks, the Connecticut Department of Banking was not required to act on this transaction.)
7/10 New England Community Bancorp, Inc., holding company for New England Bank and Trust Company, Windsor, Equity Bank, Wethersfield and Community Bank, Bristol, completed its acquisition of Olde Port Bank & Trust, Portsmouth, NH. Olde Port Bank & Trust will operate as a wholly-owned subsidiary of New England Community Bancorp, Inc.
(Note: This merger is listed for information purposes. The Connecticut Department of Banking was not required to act on the transaction and it is not included in the summary table at the top of the page.)
8/13 Approval was granted for the merger of the Bank of South Windsor with and into New England Bank & Trust Company.  The Banking Commissioner also issued a notice of intent not to disapprove the acquisition by New England Community Bancorp, Inc. of 100% of the voting securities of Bank of South Windsor.
Effective August 14, 1998
8/19 HUBCO, Inc., the holding company for Hudson United Bank in New Jersey and of Lafayette American Bank, Bridgeport, received approval of its application and acquisition statement to acquire The Dime Savings Bank of Wallingford and for the subsequent merger of The Dime Savings Bank of Wallingford with and into Lafayette American Bank.
Effective August 21, 1998
9/17 Summit Bancorp, Inc., a bank holding company with its principal place of business in Princeton, New Jersey, received approval of its application and acquisition statement to acquire and retain all of the voting stock of NSS Bank. The Banking Commissioner also issued notice of intent not to disapprove the acquisition by Summit Bancorp of 100% of the voting securities of NSS Bancorp, Inc., and, indirectly, NSS Bank, of Norwalk.
Effective November 21, 1998
11/12 Approval was granted to the application and acquisition statement of Peoples Heritage Financial Group, Inc., the Portland, ME multi-bank and financial services holding company of Peoples Heritage Bank of Maine, Bank of New Hampshire and Family Bank of Massachusetts, and Peoples Heritage Merger Corp. to acquire and retain ownership or control of 100 percent of the issued and outstanding voting stock of Glastonbury Bank & Trust Company, a state-chartered commercial bank.  The banking commissioner also issued a notice of intent not to disapprove the acquisition by Peoples Heritage Financial Group, Inc. of 100 percent of the beneficial ownership of the voting securities of SIS Bancorp, Inc., Springfield, MA, the sole shareholder of Glastonbury Bank & Trust, and indirectly, of Glastonbury Bank & Trust.

 

1999
1/12 Approval was granted to the application of Westbank Corporation, West Springfield, MA, the bank holding company of Park West Bank and Trust, for the acquisition of Cargill Bancorp, Inc. of Putnam, the holding company of Cargill Bank, a Connecticut state-chartered savings and loan association, by Westbank Corporation, and the indirect acquisition of Cargill Bank. Cargill Bank will operate as a wholly owned subsidiary of Westbank Corporation and continue to be a Connecticut state-chartered savings and loan association.
Effective January 29, 1999
1/21 Hudson United Bank, a commercial bank with its main office located in Mahwah, New Jersey, was granted approval for the merger of Lafayette American Bank, Bridgeport, with and into Hudson United Bank. Lafayette American branches in Connecticut will operate as branches of Hudson United Bank.
Effective March 19, 1999
1/23 Stamford Federal Savings Bank and La Jolla Bank, FSB, Rancho Santa Fe, California, received approval from the Office of Thrift Supervision to merge. Stamford Federal Savings Bank branches in Connecticut will operate as branches of La Jolla Bank, FSB.
Effective January 23, 1999
2/23 Approvals were granted to the applications of Summit Bancorp, a bank holding company with its principal place of business in New Jersey, its wholly-owned subsidiary, NSS Bank, of Norwalk, a Connecticut bank, and New Canaan Bank and Trust Company, a Connecticut bank, for the merger of New Canaan Bank and Trust Company with and into NSS Bank.
Effective March 31, 1999
4/1 Banking Commissioner issued a Notice of Intent Not to Disapprove the acquisition by Webster Financial Corporation, Waterbury, holding company for Webster Bank, of all of the outstanding voting securities of Maritime Bank & Trust Company, a state-chartered commercial bank headquartered in Essex. Maritime Bank & Trust will be merged with and into Webster Bank.
Effective April 21, 1999
4/5 Banking Commissioner issued a Notice of Intent Not to Disapprove the acquisition by Webster Financial Corporation, Waterbury, holding company for Webster Bank, of all of the outstanding voting securities of Village Bancorp, Inc., the holding company for Village Bank & Trust Company, a state-chartered commercial bank headquartered in Ridgefield. Village Bank & Trust will be merged with and into Webster Bank.
Effective May 20, 1999
4/26 Approval was granted to the application and acquisition statement of Deutsche Bank AG, Franfurt, Germany, for the acquisition through merger of Bankers Trust Corporation, New York, and, indirectly, of Bankers Trust Company Connecticut Ltd, Greenwich, a Connecticut state-chartered limited purpose trust company.
Effective June 4, 1999
9/30 Fleet Financial Group and BankBoston Corporation, both headquartered in Boston, MA, received final regulatory approval to merge into one institution named FleetBoston Financial Corporation, headquartered in Boston. BankBoston, N.A. was merged with and into Fleet National Bank. Effective March 1, 2000.
(Note: This merger is listed for information purposes. The Connecticut Department of Banking was not required to act on the transaction and it will not be included in the summary table at the top of the page.)
10/29 Banking Commissioner issued a Notice of Intent Not to Disapprove the acquisition by Webster Financial Corporation, Waterbury, holding company for Webster Bank, a federal savings bank headquartered in Waterbury, of all of the outstanding voting securities of  New England Community Bancorp, Inc., and indirectly, of its subsidiaries, New England Bank & Trust Company, Windsor, The Equity Bank, Wethersfield, and Community Bank, Bristol. New England Bank & Trust Company, The Equity Bank, and Community Bank, will be merged with and into Webster Bank.
Effective December 1, 1999

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