April 30, 2009 Activity Report

BOARD OF BANK INCORPORATION

Decisions

Independent Bank Corp., (the "Petitioner") Rockland, Massachusetts - permission to acquire Benjamin Franklin Bancorp, Inc., ("Bancorp") Franklin, Massachusetts.  Bancorp is the holding company for Benjamin Franklin Bank, Franklin, Massachusetts.  The Petitioner is the holding company for Rockland Trust Company, Rockland, Massachusetts - approved April 9, 2009.

Power Corporation of Canada and Power Financial Corporation, Montreal, Quebec, Canada (the "Petitioners") - permission to acquire ownership and control of Putnam Fiduciary Trust Company, a de novo New Hampshire-chartered nondepository trust company (in formation).  The acquisition is part of the corporate reorganization of Putnam Fiduciary Trust Company, Boston, Massachusetts, a Massachusetts-chartered trust company and indirect subsidiary of the Petitioners - approved April 24, 2009.

Applications Pending

Belmont Savings Bank, Belmont, Massachusetts - permission to establish a mutual savings bank in conjunction with its multi-step reorganization into a mutual holding company, BSB Bancorp, MHC, with a mid-tier holding company, BSB Bancorp, Inc.  The continuing bank will operate under the name Belmont Savings Bank.  Comment period ended April 28, 2009.

Middlesex Bancorp, MHC, in formation (the "Petitioner"), Natick Massachusetts - permission to acquire Service Bancorp, MHC and its subsidiary bank, Strata Bank, Medway, Massachusetts in a multi-step transaction.  The Petitioner is the proposed mutual holding company for Middlesex Savings Bank, Natick, Massachusetts.  Comment period ended April 28, 2009.

Miscellaneous

Veritas Bank (In Organization), Lawrence, Massachusetts - Certificate of Public Convenience and Advantage expired by operation of law on April 27, 2009.

DIVISION OF BANKS

Decisions/Notices

Berkshire Bank, Pittsfield - notice to establish a branch office at 1259 East Columbus Avenue, Springfield - non-objection issued April 21, 2009.

Dean Co-operative Bank, Franklin - permission to close a branch office located at the Tri-County Regional Vocational Technical High School, 147 Pond Street, Franklin - approved April 27, 2009.

Dedham Institution for Savings, Dedham - notice to establish a branch office at 45 West Street, Dedham - non-objection issued April 3, 2009.

North Easton Savings Bank, North Easton - permission to (1) redesignate its main office from 295 Main Street, North Easton to 20 Eastman Street, South Easton, Massachusetts; and in connection therewith (2) maintain its current main office as a branch office - approved April 28, 2009.                              

Putnam Fiduciary Trust Company ("Putnam, MA"), Boston, Massachusetts - permission to merge with and into Putnam Fiduciary Trust Company ("Putnam, NH"), New Hampshire (in formation), a nondepository trust company.  The main office of Putnam, MA will remain the main office of Putnam, NH - approved April 24, 2009.

Rockland Trust Company ("Rockland"), Rockland and Benjamin Franklin Bank ("Benjamin Franklin"), Franklin - permission to merge under the charter, by-laws and name of Rockland.   The main office of Rockland would remain the main office of the continuing institution and the banking offices of Benjamin Franklin would be retained as branch offices - approved April 9, 2009.

State Street Bank and Trust Company, Boston, Massachusetts - permission to (1) close a branch office located at One Royal Exchange Steps, Royal Exchange, London, United Kingdom; and (2) establish a branch office at 20 Churchill Place, Canary Wharf, London, United Kingdom - approved April 9, 2009.

Applications/Notices Pending

Belmont Savings Bank, Belmont - permission to reorganize into a mutual holding company, BSB Bancorp, MHC, with a mid-tier holding company, BSB Bancorp, Inc., as part of a multi-step transaction.  Comment period ended April 28, 2009.

Energy Credit Union (the "Credit Union"), Waltham - permission to redesignate its main office from 52 Second Avenue, Waltham to 160 Spring Street, West Roxbury in conjunction with proposed relocation of its branch office in West Roxbury from 2029 Centre Street to 160 Spring Street.  In connection with this petition, the Credit Union has filed applications to close the office at 52 Second Avenue, Waltham and to establish a branch office at 40 Sylvan Street, Waltham.  Comment periods ended April 27, 2009.

Enterprise Bank and Trust Company, Lowell, Massachusetts - permission to establish a branch office at 60 Crystal Avenue, Derry, New Hampshire.  Filed April 23, 2009.

HarborOne Credit Union ("HarborOne"), Brockton and NationsHeritage Federal Credit Union ("NationsHeritage"), Attleboro - permission to merge under the charter, by-laws and name of HarborOne.  The main office of HarborOne would remain the main office of the continuing credit union and the banking offices of NationsHeritage would be retained as branch offices.  Comment period ends May 5, 2009.

Middlesex Savings Bank ("Middlesex"), Natick and Strata Bank ("Strata"), Medway - permission for the merger of Strata with and into Middlesex.  The main office of Middlesex would remain the main office of the continuing institution and the banking offices of Strata would be retained as branch offices, except for the branch offices at 59 Main Street, Hopkinton and 18 North Meadows Road, Medfield which will be closed.  Comment period ended April 28, 2009.

MAY 2009 FILING DATE

Complete applications for the May Activity Report must be received by the Division or the Board on or before 5:00 P.M., Friday, May 15, 2009.

COMMUNITY REINVESTMENT ACT DESCRIPTIVE RATINGS AND EVALUATIONS
WHICH BECAME PUBLIC DURING THE MONTH

The following state-chartered institutions have Community Reinvestment Act Descriptive Ratings and Evaluations describing the basis for the Rating issued by the Division of Banks pursuant to Massachusetts General Laws chapter 167, section 14. The ratings, as set out in the statute, for a bank's record of meeting community credit needs are: Outstanding ("O"); High Satisfactory ("HS"); Satisfactory ("S"); Needs to Improve ("NI"); and Substantial Noncompliance ("SNC").

APPLICATIONS TO SELL INSURANCE

None

CHECK CASHER LICENSES

Applications Pending

Castleridge, Inc., Fitchburg, Massachusetts - permission to operate a check casher office at 442 Mechanic Street, Fitchburg. Comment period ended November 20, 2008.

Forest Hills Check Cashing, Inc., Jamaica Plain, Massachusetts - permission to operate a check casher office at 18 Central Street, Norwood. Comment period ends April 7, 2009.

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If you need assistance or have questions, please contact Bernard N. Waxman at 617.956.1571.

For information relative to current Activity Reports please contact the Consumer Assistance Unit.