By the Division of Banks


BOARD OF BANK INCORPORATION

Decisions

Eastern Bank Corporation, Boston, Massachusetts - permission to acquire Campello Bancorp, Brockton in a multi-step transaction.  Eastern Bank Corporation is the holding company for Eastern Bank and Campello Bancorp is the holding company for The Community Bank, A Massachusetts Co-operative Bank, Brockton – approved November 28, 2012.

United Financial Bancorp, Inc., West Springfield, Massachusetts - permission to become a bank holding company through the acquisition of New England Bancshares, Inc., Enfield, Connecticut in a multi-step transaction. United Financial Bancorp, Inc. is the holding company for United Bank, West Springfield and New England Bancshares, Inc. is the holding company for New England Bank, Enfield, Connecticut – approved November 13, 2012.

DIVISION OF BANKS

Decisions

Berkshire Bank, Pittsfield, Massachusetts - permission to establish a branch office at 11 Vista Boulevard, Bethlehem, New York – approved November 14, 2012.

Berkshire Bank, Pittsfield, Massachusetts - permission to establish a branch office at 3025 Route 50, Wilton Square Shopping Center, Wilton, New York – approved November 14, 2012.

Boston Private Bank & Trust Company, Boston – permission to establish a branch office at 60 South Market Street, San Jose, California – approved November 28, 2012.

Brookline Bank, Brookline - notice to establish a branch office at 131 Clarendon Street, Boston – non-objection issued November 15, 2012.

Eastern Bank, Boston and The Community Bank, A Massachusetts Co-operative Bank ("Community Bank"), Brockton - permission to merge under the charter, by-laws and name of Eastern Bank. The main office of Eastern Bank would remain the main office of the continuing institution and the banking offices of Community Bank would be retained as branch offices – approved November 28, 2012.

Institution for Savings in Newburyport and its Vicinity, Newburyport - notice to establish a branch office within Masconomet Regional High School, 20 Endicott Street, Topsfield – non-objection issued November 15, 2012.

State Street Bank and Trust Company, Boston - permission to relocate a branch office from Eagle House, Don Road, St. Helier, Jersey, Channel Islands to Lime Grove House, Green Street, St. Helier, Jersey, Channel Islands – approved November 15, 2012.

Applications/Notices Pending

Cape Cod Co-operative Bank, Hyannis – notice to establish a branch office at 660 North Falmouth Highway, North Falmouth. Filed November 19, 2012.

East Boston Savings Bank, East Boston – notice to establish a branch office at 37 Union Square, Somerville. Filed November 20, 2012.

Hingham Institution for Savings, Hingham – notice to establish a branch office at 35 Main Street, Nantucket. Filed November 29, 2012.

New Bedford Credit Union, New Bedford – permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to add membership for persons who live, work or attend school in Barnstable, Bristol or Plymouth Counties in Massachusetts and the towns of Little Compton and Tiverton in Newport County, Rhode Island and family members of such persons. Related definitions and other changes are set out in the proposed by-law. Comment period ends December 28, 2012.

Newburyport Five Cents Savings Bank, Newburyport – permission to establish a branch office at 254 State Street, Portsmouth, New Hampshire. Filed November 14, 2012.

Northern Bank & Trust Company, Woburn – notice to establish a branch office 430 Boston Post Road, Sudbury. Filed November 21, 2012.

DECEMBER 2012 FILING DATE

Complete applications for the December Activity Report must be received by the Division or the Board on or before 5:00 P.M., Monday, December 17, 2012.

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

The following state-chartered banks and credit unions and licensed mortgage lenders have Community Reinvestment Act descriptive ratings and evaluations describing the basis for the rating issued by the Division of Banks. The ratings, as set out in statute, for a bank's or credit union's record of meeting community credit needs are: Outstanding ("O"); High Satisfactory ("HS"); Satisfactory ("S"); Needs to Improve ("NI"); and Substantial Noncompliance ("SNC"). Licensed mortgage lenders are also assigned one of these ratings to describe their record of meeting the mortgage credit needs in the Commonwealth of Massachusetts.

A consolidated list of all ratings can be found at  

Bank/Credit UnionRatingDate of Examination

Stoughton Co-operative Bank

S

05/21/12

CHECK CASHER LICENSES

No public hearings scheduled.


BANK AND CREDIT UNION APPLICATION PROCESS TIMING

As a general rule, applications by banks and credit unions other than those that are subject to a review period set out in statute are intended to be processed and completed within the monthly cycle for which the bank and credit union applies. That review period for such processing is approximately 45 days or less from the date the application is filed with the Division. A decision on the application is generally issued within 5 business days after the review period is completed. The decision then will be reported on the monthly Activity Report for the month in which the decision was issued. The timing of the overall review process including the issuance of a decision and the listing on the monthly Activity Report will be dependent on the applicant’s compliance with all statutory, regulatory and administrative requirements. Applications before the Massachusetts Board of Bank Incorporation are subject to separate timing schedules as set out in the applications of the Board.


PLEASE NOTE: All publications of the Division of Banks are now delivered electronically. To subscribe, simply send an email to:

dobactivityreport-subscribe@listserv.state.ma.us

If you need assistance or have questions, please contact Bernard N. Waxman at 617-521-7581.


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