Regulatory Alerts2025-03-07
Added · Updated
Bulletin 3185 - March 7, 2025
The Banking Commissioner approved an Agreement and Plan of Reorganization for Eastern Connecticut Savings Bank to convert from a mutual savings bank to a stock savings bank and form a mutual holding company named ECSB Financial Corporation. This action is authorized under Sections 36a-192 and 36a-193 of the Connecticut General Statutes. The approval is conditioned upon the applicant receiving FDIC and other required regulatory approvals. Public comments regarding this application must be directed to Banking Commissioner Jorge L. Perez within ten business days of the bulletin's date.
State of Connecticut Department of Banking
The Department of Banking News Bulletin
Bulletin # 3185 - Week Ending March 7, 2025
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 directed to Jorge L. Perez, Banking Commissioner. Written comments will be considered only if they are received within ten business days from the date of this bulletin.
BANK ACTIVITY
Reorganization into a Mutual Holding Company
On March 4, 2025, the Commissioner approved an Agreement and Plan of Reorganization pursuant to which Eastern Connecticut Savings Bank (Norwich, CT), a mutual savings bank, will reorganize with and into a stock savings bank, and form a mutual holding company to be known as ECSB Financial Corporation , pursuant to Section 36a-192 and 36a-193 of the Connecticut General Statutes. The Commissioner’s approval is conditioned upon the applicant’s receipt of FDIC and other required regulatory approvals.
Dated: Tuesday, March 11, 2025
Jorge L. Perez Banking Commissioner