Shareholders and you will Bodies Accept Merger Into erica Bancorp, Inc., Swansea, MA, and you will People’s Bancshares, Inc., The fresh Bedford, MA, accepted this new purchases from People’s in order to FirstFed. The offer is anticipated to close when you look at the very first quarter.
Towards the March 20, the office off Thrift Supervision (OTS) and the Massachusetts Panel out of Bank Incorporation accepted the fresh merger ranging from FirstFed America Bancorp, Inc., having Man’s Bancshares, Inc., Brand new Bedford, MA.
Because of this, Man’s investors just who opted for FirstFed stock will get best payday loan New Jersey a blend of 0.73 show off FirstFed preferred stock and you will $nine.34 for each and every display out of Mans had. All other shareholders will receive a money percentage away from $twenty two for every express away from People’s well-known inventory it hold. As of ,
NE Nonbanking Craft On the February 20, Northeast Lender, FSB, Auburn, Me, with their part, Northeast Monetary Services, Inc
FirstFed The united states Bancorp got complete places of $563.8 million and ranked 33rd among all of the commercial banking and you can thrift establishments during the Massachusetts. As of a comparable time, Mans Bancshares had total dumps out-of $582.step three mil and you may rated 32nd. (SNL Financial , Thrift A week, 2/11; 2/)
Banknorth Gets FHC To your e a monetary holding company, just after putting on Government Put aside Bank out of Boston recognition. (Steps by the Panel, 1/)
Part Target Changes Into erican Bank and you will Faith Organization moved its main work environment from 1151 Stratford Path, Stratford, CT, so you’re able to 132 Huge Roadway, Waterbury, CT. (Condition away from CT DOB Development Bulletin, 2/) Customers inside the Stop , Store Branch Deals Towards the January seven, the brand new Massachusetts Section from Finance companies (MA DOB) acknowledged the program by Owners Lender from Massachusetts, Boston, MA, to establish 18 part organizations contained in this Avoid , Shop Super markets found in the Massachusetts cities out-of Allston, Beverly, Brockton, Eastern Springfield, Slip River, Lynn, Malden, Medford, Milford, Natick, The latest Bedford, Quincy, Raynham, Somerset, Stoughton, Watertown (2), and you may West Springfield. New spaces are included in a bigger Owners intend to open Stop , Store twigs when you look at the The fresh The united kingdomt; the college opened twenty two Massachusetts twigs between , and you will 20 Rhode Isle branches to the .
Toward January twenty five, the newest MA DOB recognized the program by the Owners Lender out of Massachusetts to close off its part workplace based in Shaw’s Supermarket, 780 Southern Head Highway, Sharon, MA. (Condition off MA DOB See, 1/)
Lender RI to ascertain Branches Toward January 29, Financial Rhode Island, Providence, RI, a subsidiary of Bancorp Rhode Island, Inc., Providence, RI, launched that it will put three the fresh new branches in the condition the coming year and can improve the total staff by the 15%. (SNL Bank , Thrift A week, 2/4/02)
Financial of new Canaan Is applicable getting Deposit Insurance policies To your February 4, Financial of new Canaan filed a credit card applicatoin to own put insurance policies having the latest Federal Deposit Insurance policies Corp (FDIC) looking to perform because the a commercial bank into the The fresh new Canaan, CT. Including The latest Canaan, the latest de- novo place “expects to obtain a small level of financial company” off Darien, CT, and you can “brand new Silvermine” element of Norwalk, CT, plus the “bordering New york people out of Pound Ridge.” This new bank’s organizers wrote regarding software these particular segments are currently underserved, and you may cited the brand new rapid speed regarding consolidation in the Connecticut as well since 40 bank failures on the condition as 1990. (SNL Bank , Thrift Weekly, 2/)
Through to completion of merger, People’s will be matched into FirstFed and you can Man’s tool, Man’s Discounts Financial off Brockton, Southern area Easton, MA, might be matched into FirstFed unit First Government Discounts Financial of The united states, Slip River, MA
, received Kendall Insurance coverage, Inc., Bethel, Me personally, to possess $569,564. Northeast Financial, FSB are a subsidiary out-of Northeast Bancorp, Auburn, Me personally. (SNL Day-after-day ThriftWatch, 2/)