Bulletin 2878 - April 19, 2019

State of Connecticut
Department of Banking

The Department of Banking News Bulletin

Bulletin # 2878 - Week Ending April 19, 2019

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

STATE BANK ACTIVITY

Branch Activity

Section 36a-145 of the Connecticut General Statutes requires certain applications for a branch or limited branch at which loans will be made, address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage. Plans are submitted when such applications are filed and are available for public inspection and comment at the Department for a period of 30 days. Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.

DATE:
April 18, 2019

BANK:
Essex Savings Bank, Essex

LOCATION:
176 Westbrook Road, Suite 1, Essex, CT 06426

ACTIVITY-BRANCH TYPE:
Approved to Establish - Limited Branch

Interstate Loan Production Office

On April 18, 2019, the Commissioner approved the application of Magnolia Bank, Inc. , a Kentucky-chartered community bank, to establish a loan production office in Connecticut pursuant to Section 36a-412(d) of the Connecticut General Statutes. The office will be located at 53 East Avenue, Suite 2 in Norwalk, Connecticut. In connection with opening this office, Magnolia Bank, Inc. plans to close its loan production office at 94 East Avenue in Norwalk, Connecticut.

STATE CREDIT UNION ACTIVITY

Field of Membership Amendment

On April 18, 2019, the Commissioner approved the application of American Eagle Financial Credit Union, Inc. to amend its bylaws pursuant to Section 36a-437a(h)(3) of the Connecticut General Statutes to expand its field of membership to include Hampden County, Massachusetts.

Dated: Tuesday, April 23, 2019

Jorge L. Perez
Banking Commissioner