By the Division of Banks



Event Detail


Event:
Public Hearing on Approval for People's United Financial, Inc. to Acquire River Bank 
Type of Event:Public Hearing
Date:10/12/2010, 11:15 AM
Description:

THE COMMONWEALTH OF MASSACHUSETTS
BOARD OF BANK INCORPORATION
AND
THE DIVISION OF BANKS


People's United Financial, Inc. (the "Petitioner" ), Bridgeport, Connecticut, has petitioned the Board of Bank Incorporation (the "Board") pursuant to Massachusetts General Laws, chapter 167A, sections 2 and 4 for approval to acquire LSB Corporation, ("LSB"), North Andover, Massachusetts in a multi-step transaction. LSB Corporation is the holding company for River Bank ("River Bank"), North Andover, Massachusetts. The Petitioner is the holding company for People's United Bank, Bridgeport, Connecticut. A related application has been filed with the Division of Banks (the "Division") for approval of a subsequent merger of River Bank with and into People's United Bank. As a consequence of the merger, the banking offices of River Bank will become branch offices of People's United Bank.

In determining whether or not to approve the petition the Board must decide 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 Tuesday, October 12, 2010 at 11:15 a.m., in Hearing Room 1F, First Floor, 1000 Washington Street, Boston, Massachusetts.

All comments in favor or in protest of this petition, however, must be filed with the Board or the Division by the close of business on November 4, 2010 at the following address. The applications and all communications relative to these matters are available for public inspection at the Division at 1000 Washington Street, 10th Floor, Boston, MA 02118-6400.

Board of Bank
Incorporation

Steven L. Antonakes
______________________
Commissioner of Banks


Navjeet K. Bal
______________________
Commissioner of Revenue


Timothy P. Cahill
______________________
Treasurer and Receiver-General

Written comments:

accepted until: 11/04/2010

Location:1000 Washington Street
Hearing Room 1F
1 st Floor
Boston, MA
Contact:DOB -- Massachusetts Division Of Banks
 
Registration:No Registration
Fee:none