News Bulletin 1895 - June 16, 2000

State of Connecticut Department of Banking

The Department of Banking News Bulletin

Bulletin # 1895 Week Ending June 16, 2000

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 John P. Burke, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to john.burke@ct.gov . Written comments will be considered only if they are received within ten days from the date of this bulletin.

STATE BANK ACTIVITY Branch Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Bank Examination Division, (860) 240-8180. Note: dates are listed in month/day/year format.

Date

Bank

Location

Activity

6/15/00

Naugatuck Valley Savings and Loan Association, Inc. Naugatuck

FROM: 1007 New Haven Road Naugatuck, CT 06770

TO:     1009 New Haven Road Naugatuck, CT 06770

filed to relocate

6/15/00

Castle Bank and Trust Company Meriden

852 East Main Street Meriden, CT 06450

filed

ORDER FOR HEARING

The hearing scheduled for June 19, 2000 at 9:30 a.m. on the application to organize The Community's Bank has been continued to June 27, 2000 at 9:30 a.m. in Room 50 of the Department of Banking, 260 Constitution Plaza, Hartford, Connecticut.

CHECK CASHING SERVICE LICENSE ACTIVITY

Pursuant to the provisions of Section 36a-581 of the Connecticut General Statutes, on June 5, 2000, Fritz Jacques applied to operate a check cashing service general facility at 566 Atlantic Street, Stamford, Connecticut.

ACQUISITION AND MERGER

On June 12, 2000, pursuant to Section 36a-185 of the Connecticut General Statutes, the Banking Commissioner issued a Notice of Intent Not to Disapprove the acquisition by Webster Financial Corporation of all of the outstanding voting shares of MECH Financial, Inc. , and indirectly, Mechanics Savings Bank . The acquisition will take place through the merger of MECH Financial, Inc. , with and into Webster Financial Corporation , and the subsequent merger, pursuant to Section 36a-126(b) of the Connecticut General Statutes, of Mechanics Savings Bank with and into Webster Bank .

CREDIT UNION DIVISION ACTIVITY Merger

Pursuant to Section 36a-470 of the Connecticut General Statutes, on May 12, 2000, approval was granted to Marlin Employees Credit Union, Inc. to merge with and into Bic Credit Union, Inc .

Dated: Tuesday, June 20, 2000 John P. Burke Banking Commissioner