September 30, 1998 Activity Report

BOARD OF BANK INCORPORATION

Hearings

Tuesday, November 10, 1998 at 10:30 a.m.
Conference Room 2, 21st Floor, John W. McCormack Building
One Ashburton Place, Boston, Massachusetts

Banknorth Group, Inc., Burlington, Vermont - permission to acquire indirect ownership and control of Evergreen Bank, N.A., Glen Falls, New York through its direct merger with Evergreen Bancorp, Inc., Glen Falls, New York. Evergreen Bancorp, Inc. is the bank holding company for Evergreen Bank, N.A. Banknorth Group, Inc. is a multi-bank holding company and the holding company for First Massachusetts Bank, N.A., Worcester, Massachusetts. Additional related authorities requested are specified in the application. Comment period ends November 20, 1998.

Tuesday, November 10, 1998 at 11:00 a.m.
Conference Room 2, 21st Floor, John W. McCormack Building
One Ashburton Place, Boston, Massachusetts

Peoples Heritage Financial Group, Inc., Portland, Maine - permission to acquire SIS Bancorp, Inc., Springfield, Massachusetts. SIS Bancorp, Inc. is a multi-bank holding company and parent of Springfield Institution for Savings, Springfield, Massachusetts. Peoples Heritage Financial Group, Inc. is a multi-bank holding company and the holding company for Family Bank, FSB, Haverhill, Massachusetts. Additional related authorities requested are specified in the application. Comment period ends November 20, 1998.

Applications Pending

Danvers Savings Bank, Danvers - permission to establish a mutual savings bank, Danvers Mutual Savings Bank and a stock savings bank, Danvers Interim Savings Bank in connection with its multi-step reorganization into a mutual holding company, Danvers Bancorp, Inc. Comment period ended August 17, 1998.

Marlborough Co-operative Bank, Marlborough - permission to establish a mutual co-operative bank, Marlborough MHC Co-operative Bank and a stock co-operative Bank, Marlborough Interim Co-operative Bank, in connection with its multi-step reorganization into a mutual holding company, Marlborough Bancorp. Comment period ends October 14, 1998.

Mutual Bancorp of the Berkshires, Inc. ("Mutual Bancorp"), Pittsfield - permission for Mutual Bancorp and its wholly owned subsidiary, in organization, United Financial Group, Inc. to become bank holding companies for City Savings Bank and Lenox Savings Bank as part of a multi-step transaction also involving an application before the Division of Banks. Comment period ends October 14, 1998.

Seacoast Financial Services Corporation ("Seacoast"), New Bedford - permission to become a bank holding company by the acquisition of Sandwich Bancorp, Inc., Sandwich and its wholly owned subsidiary, Sandwich Co-operative Bank. Seacoast, formerly known as the 1855 Bancorp, is the holding company for Compass Bank for Savings, New Bedford. Comment period ends October 26, 1998.

DIVISION OF BANKS

Decisions

Benjamin Franklin Savings Bank, Franklin - permission to relocate a branch office from Medfield Country Village, 18 North Meadows Road, Medfield to 76 North Street, Medfield - approved September 29, 1998.

Century Bank and Trust Company, Medford - permission to close a branch office located at Zero Faneuil Hall, Boston, Massachusetts - approved September 29, 1998.

Colonial Co-operative Bank, Gardner - permission to relocate a branch office from 117 Central Street, Winchendon to School Square, Winchendon - approved September 28, 1998.

Country Bank for Savings, Ware - permission to establish a branch office at Wal-Mart Supercenter, 352 Palmer Road, Ware - approved September 28, 1998.

Enterprise Bank and Trust Company, Lowell -permission to establish a branch office at 237 Littleton Road, Westford - approved September 10, 1998.

North Middlesex Savings Bank, Ayer - permission to establish a branch office at Ten Lowell Street, Carlisle -- approved September 28, 1998.

People's Savings Bank of Brockton, South Easton - permission to relocate a branch office from the Westgate Mall, 200 Westgate Drive, Brockton to 220 Oak Street, Brockton - approved September 3, 1998.

Rockland Trust Company, Rockland - permission to establish a branch office at 608 Washington Street, Stoughton - approved September 24, 1998.

Roslindale Co-operative Bank of Boston ("Roslindale"), Roslindale and Charlestown Co-operative Bank ("Charlestown"), Charlestown - permission to merge Charlestown with and into Roslindale under the charter of Roslindale and the name of The Co-operative Bank. The main office of Roslindale will remain the main office of the continuing institution and the sole banking office of Charlestown would be maintained as a branch office - approved September 14, 1998.

Summit Bank, Medway - permission to (1) close a branch office located at Shaw's Plaza, 238 Main Street, Medfield; and (2) establish a branch office at Medfield Country Village, 18 North Meadows Road, Medfield -approved September 29, 1998.

Westfield Savings Bank, Westfield - permission to establish a branch office at 1341 Main Street, Springfield -- approved September 25, 1998.

Applications Pending

Chicopee Savings Bank, Chicopee - permission to establish a branch office at 39 Morgan Road, West Springfield. Comment period ends October 23, 1998.

Compass Bank for Savings ("Compass"), New Bedford and Sandwich Co-operative Bank ("Sandwich"), Sandwich - permission to merge Sandwich with and into Compass under the charter, by-laws and name of Compass. All of the banking offices of Sandwich will be maintained as branch offices of the continuing bank. Comment period ends October 26, 1998.

Danvers Savings Bank, Danvers - permission to reorganize into a mutual holding company, Danvers Bancorp, Inc. as part of a multi-step transaction. Comment period ended August 17, 1998.

Hingham Institution for Savings (The), Hingham - permission to establish a branch office at 32 Pleasant Street, South Weymouth. Comment period ends October 19, 1998.

Marlborough Co-operative Bank, Marlborough - permission to reorganize into a mutual holding company, Marlborough Bancorp, as part of a multi-step transaction. Comment period ends October 14, 1998.

Massachusetts Co-operative Bank, Dorchester - permission to establish a branch office at 70 Quincy Avenue, Quincy. Comment period ends October 23, 1998.

Mutual Bancorp of the Berkshires, Inc. ("Mutual Bancorp"), Pittsfield and Lenox Financial Services Corp. ("Lenox Financial"), Lenox - permission to merge Lenox Financial with and into Mutual Bancorp under the articles, by-laws and name of Mutual Bancorp. Lenox Financial is the mutual holding company for Lenox Savings Bank and Mutual Bancorp is the mutual holding company for City Savings Bank. Comment period ends October 14, 1998.

National Bank of Greece, S.A. (The), Athens, Greece - permission to close a branch office located at 1765 Centre Street, West Roxbury. Comment period ends October 23, 1998.

Slade's Ferry Trust Company, Somerset - permission to establish a branch office at 1601 South Main Street, Fall River. Comment period ends October 19, 1998.

State Street Bank and Trust Company, Boston - permission to close a branch office located at 357 Beacham Street, Chelsea. Comment period ends October 5, 1998.

USTrust, Boston - permission to close branch offices located at (1) 10 Depot Square, Lexington; and (2) 637 Main Street, Waltham. Comment periods end October 23, 1998.

USTrust, Boston - permission to merge with Lexington Savings Bank ("Lexington"), Lexington and The Federal Savings Bank ("Federal"), Waltham. Under the terms of the separate Agreements of Merger, Lexington and Federal will each merge with and into USTrust under the charter, by-laws and name of USTrust. The main office of USTrust would remain the main office of the continuing institution and all of the banking offices of Lexington and Federal would be maintained as branch offices. USTrust, Federal and Lexington are all subsidiaries of UST Corp., Boston, a bank holding company. Comment period ends October 23, 1998.

Woronoco Savings Bank, Westfield - permission to establish a branch office within Big Y World Class Supermarket, 175 University Drive, Amherst. Comment period ends October 19, 1998.

Worcester County ("Worcester County") Employees Credit Union, Worcester and Worcester Municipal Federal Credit Union ("Worcester Municipal"), Worcester - permission to merge under the charter and by-laws of Worcester County and the name of Worcester Credit Union. The main office of Worcester Municipal would become the main office of the continuing credit union and the sole banking office of Worcester County would be maintained as a branch office. As part of this transaction, the by-laws of Worcester County would be amended to change membership eligibility. Comment period ends October 23, 1998.

OCTOBER 1998 FILING DATE

Complete applications for the October 1998 Activity Report must be received by the Division or the Board on or before 5:00 P.M., Thursday, October 15, 1998.

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").

TEMPORARY CHECK CASHER LICENSES

Applications Pending

St. James Check Cashing, Inc., Springfield, Massachusetts - permission to operate a check casher office within The Spirit Shoppe located at 1132 St. James Avenue, Springfield, Massachusetts. Comment period ends October 8, 1998.

APPLICATIONS TO SELL INSURANCE

Salem Five Cents Savings Bank, Salem

Hoosac Bank, North Adams

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