News Bulletin 2352 - March 20, 2009

State of Connecticut Department of Banking

The Department of Banking News Bulletin

Bulletin # 2352 Week Ending March 20, 2009

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

BRANCH ACTIVITY State Bank Activity

Section 36a-145 of the Connecticut General Statutes requires certain applications 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 Financial Institutions Division, (860) 240-8180.

Date

Bank

Location

Activity

3/17/09

Farmington Savings Bank

Farmington

FROM:  296 Country Club Road

Avon, CT  06001

TO:      427 West Avon Rd., #1 & 2

Avon, CT  06001

relocation

approved

3/17/09

NewAlliance Bank

New Haven

200 Boston Post Road

Madison, CT  06443

filed to

convert *

6/30/09

Fairfield County Bank

Ridgefield

506 Westport Avenue

Norwalk, CT  06851

closing

date

*From a branch to a limited branch

BANK ACQUISITION AND MERGER

On March 17, 2009, pursuant to Section 36a-125 of the Connecticut General Statutes, Valley Bank , a Connecticut bank that is a wholly owned subsidiary of New England Bancshares, Inc. , a Connecticut holding company, and The Apple Valley Bank & Trust Company , a Connecticut bank, filed an application for the merger of The Apple Valley Bank & Trust Company with and into Valley Bank .  On March 17, 2009, pursuant to Section 36a-184 of the Connecticut General Statutes, New England Bancshares, Inc. filed an acquisition statement to acquire 100% of the voting securities of The Apple Valley Bank & Trust Company through such merger.  A community reinvestment plan was filed in connection with the transaction.  The plan is available for public inspection and comment at the Department of Banking for a period of 30 days.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY Connecticut-registered Broker-dealer

Assessed $2,500 for Agent Registration Lapse

On March 19, 2009, the Commissioner entered into a Stipulation and Agreement with Williams Trading, LLC , a Connecticut-registered broker-dealer located at 860 Canal Street, Third Floor, Stamford, Connecticut.   The Stipulation and Agreement alleged that, from at least May 2007 to June 2008, the firm employed two agents at a time when their Connecticut registrations were not effective.  Williams Trading, LLC maintained that the prior registrations for the two agents had been terminated in error.  The agents in question have since been re-registered under the Connecticut Uniform Securities Act.

Pursuant to the Stipulation and Agreement, the firm agreed to pay $2,000 to the department.  Of that amount, $1,500 constituted an administrative fine and $500 represented reimbursement for past due agent registration fees as well as for agency investigative costs.  The firm also agreed to comply with all statutory requirements governing the registration of affected personnel as broker-dealer agents, and to implement revised supervisory procedures.

Dated:  Tuesday, March 24, 2009

Howard F. Pitkin

Banking Commissioner