June 30, 2000 Activity Report

BOARD OF BANK INCORPORATION

Hearings

There are no public hearings scheduled for the month of July 2000.

Decisions

Andover Bancorp, Inc. ("Andover"), Andover, Massachusetts - permission to acquire GBT Bancorp and its wholly owned subsidiary bank, Gloucester Bank & Trust Company, Gloucester, Massachusetts. Andover is the holding company for Andover Bank - approved June 21, 2000.

DIVISION OF BANKS

Hearings

Main Conference Room
Holyoke Heritage State Park Visitors' Center
221 Appleton Street, Holyoke, Massachusetts

Wednesday, July 19, 2000
At 3:00 P.M.

Holyoke Credit Union, Holyoke - permission to (i) redesignate the location of its main office from its current site at 235 Maple Street to an approved but unopened office at 490 Westfield Road, Holyoke; and in conjunction therewith (ii) close its current main office. Comment periods after hearing end July 26, 2000.

Hyde Park Co-operative Bank, Hyde Park - permission to close a branch office located at 185 Wolcott Square, Hyde Park - approved June 26, 2000.

Plan Credit Union, Boston - permission to relocate its main office from 100 Summer Street to One Landmark Center, 401 Park Drive, Boston - approved June 19, 2000.

Polish National Credit Union, Chicopee - permission to relocate a branch office from 49 West State Street to 34 West State Street, Granby - approved June 19, 2000.

Randolph Savings Bank, Randolph - permission to establish branch offices at (1) 305 Turnpike Street, Canton; and (2) 1125 North Main Street, Randolph - approved June 21, 2000.

Rockland Trust Company, Rockland - permission to (i) purchase certain assets and assume certain deposit and other liabilities of Sovereign Bank; and in connection therewith (ii) establish and maintain branch offices at (1) 655 Main Street, Chatham; (2) 442 Main Street, Hyannis; (3) 75 Brackett Road, North Eastham; and (4) 932 Main Street, West Dennis - approved June 13, 2000.

Applications Pending

Athol Savings Bank, Athol - permission to establish a branch office at 196 Timpany Boulevard, Gardner. Comment period ends July 20, 2000.

Canton Institution for Savings (The), The Bank of Canton, Canton - permission to establish a branch office at 259 Turnpike Street, Canton. Comment period ends July 19, 2000.

Century Bank and Trust Company, Somerville - permission to establish a branch office at 1184-1186 Boylston Street, Brookline. Comment period ends July 20, 2000.

Danvers Savings Bank, Danvers - permission to establish a branch office at One Titcomb Street, Newburyport. Comment period ended June 23, 2000.

General Electric River Works Employees Credit Union (the "Credit Union"), Lynn - permission to amend its by-laws to (1) expand membership eligibility to now include those who live, work or worship in Essex County or reside within twenty-five miles of the main office of the Credit Union, as well as other changes which include, but are not limited to, various relationships with General Electric Company, as specified in the proposed by-law; and (2) change the name of the Credit Union to West Lynn Credit Union. Comment periods ended June 22, 2000.

Jeanne D'Arc Credit Union, Lowell - permission to establish a branch office at Nashoba Valley Technical High School, 100 Littleton Road, Westford. Comment period ended June 22, 2000.

Kelko Credit Union ("Kelko"), Springfield and Twin Meadows Federal Credit Union ("Twin Meadows"), East Longmeadow - permission to merge Twin Meadows with and into Kelko under the charter, by-laws and name of Kelko Credit Union. The main office of Kelko would remain the main office of the continuing credit union and all of the banking offices of Twin Meadows would be retained as branch offices. Comment period ends August 4, 2000.

Landmark Credit Union, North Adams - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility would now include individuals who live, work or attend school in Adams, Cheshire, Clarksburg, Florida, North Adams, Savoy and Williamstown, as well as other provisions specified in the proposed by-law. Comment period ended June 22, 2000.

MASSBANK, Reading - permission to relocate a branch office from 296 Chelmsford Street, Chelmsford to 291 Chelmsford Street, Chelmsford. Comment period ends July 20, 2000.

Mercantile Bank and Trust Company, Boston - permission to establish a branch office at 423 Washington Street, Brighton. Comment period ends July 19, 2000.

MetroWest Bank, Framingham - permission to establish a branch office at Silver Maple Commons, 480 King Street, Franklin. Comment period ends July 12, 2000.

Northampton Co-operative Bank, Northampton - permission to establish a branch office at Big Y Shopping Plaza, Route 5, Northampton. Comment period ended June 28, 2000.

Park West Bank and Trust Company, West Springfield - permission to relocate a branch office from Stop & Shop Supermarket, 231 East Main Street, Westfield to Big Y Supermarket, One East Silver Street, Westfield Comment period ends July 20, 2000.

Stoneham Co-operative Bank, Stoneham - permission to (i) redesignate the location of its main office from 335 Main Street to 80 Montvale Avenue, Stoneham; and in conjunction therewith (ii) close its current main office. Comment periods end July 20, 2000.

United Co-operative Bank, West Springfield - permission to establish a branch office at the Community Shops Plaza, 1325 Springfield Street, Feeding Hills. Comment period ends July 20, 2000.

Western Massachusetts Telephone Workers' Credit Union, Springfield - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility would now include employees of companies whose primary business is telecommunication and persons who work or reside in Hampden, Hampshire, Franklin and Berkshire Counties, as well as other provisions specified in the proposed by-law. Comment period ended March 29, 2000.

Worcester Credit Union, Worcester - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility would now include individuals who work or reside in the City of Worcester or contiguous towns as specified in the proposed by-law. Comment period ended June 30, 2000.

JULY 2000 FILING DATE

Complete applications for the July Activity Report must be received by the Division or the Board on or before 5:00 P.M., Friday, July 14, 2000.

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

Graham's Check Cashing, Inc., Springfield, Massachusetts - permission to operate a check casher office at 715 Main Street, West Springfield. Comment period ended June 14, 2000.

St. James Check Cashing, Inc., Springfield, Massachusetts - permission to operate a check casher business within Winchester Liquors, 800 State Street, Springfield. Comment period ended March 2, 2000.

APPLICATIONS TO SELL INSURANCE

Enterprise Bank and Trust Company, Lowell - pending
Family Choice Mortgage Corporation, Hamden, Connecticut - pending
Pentucket Five Cents Savings Bank, Haverhill - pending
South Shore Savings Bank, Weymouth - pending

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