THE COMMONWEALTH OF MASSACHUSETTS
BOARD OF BANK INCORPORATION
DIVISION OF BANKS
POWER CORPORATION OF CANADA and POWER FINANCIAL CORPORATION, Montreal, Quebec, Canada ("Power" or the "Petitioners"), have petitioned the Board of Bank Incorporation ("Board"), pursuant to Massachusetts General Laws chapter 167A, sections 2 and 4, for approval to acquire ownership and control of Putnam Fiduciary Trust Company ("Putnam Fiduciary Trust NH"), a de novo New Hampshire-chartered nondepository trust company (in formation). The acquisition is part of the corporate reorganization of Putnam Fiduciary Trust Company ("Putnam Fiduciary Trust MA"), Boston, Massachusetts, a Massachusetts chartered trust company and indirect subsidiary of the Petitioners. A related application has been filed with the Division of Banks (the "Division") for approval of a subsequent merger of Putnam Fiduciary Trust MA with and into Putnam Fiduciary Trust NH.
In determining whether or not to approve the matter before it, the Board must decide, among other things, whether competition among banking institutions will be unreasonably affected and whether public convenience and advantage will be promoted by this proposal. A public hearing will be given to all interested parties on the petition before the Board on January 24, 2008 at 2:15 p.m. in Hearing Room A, Fifth Floor, One South Station, Boston, Massachusetts.
Any interested party other than the Petitioner should file communications, including briefs in favor or protest, with the Board by January 31, 2008, at the following address. The applications and all communications relative to these matters are available for public inspection at One South Station, Third Floor, Boston, Massachusetts 02110.
Board of Bank
Steven L. Antonakes
Commissioner of Banks
Commissioner of Revenue
Timothy P. Cahill
Treasurer and Receiver-General