BOARD OF BANK INCORPORATION
There are no public hearings scheduled for the month of June 2000.
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. Comment period ended April 20, 2000.
Lighthouse Bank, Waltham, Massachusetts - Certificate to Transact Business - issued on May 8, 2000.
DIVISION OF BANKS
Benjamin Franklin Savings Bank, Franklin - permission to establish a branch office at Franklin High School, 218 Oak Street, Franklin - approved May 25, 2000.
Berkshire Bancorp, Pittsfield - permission to convert from a mutual holding company to a stock holding company pursuant to Massachusetts General Laws chapter 167H, section 9. If approved, following the conversion, the holding company will be known as Berkshire Hills Bancorp, Inc. Berkshire Bancorp is the holding company for Berkshire Bank - approved May 12, 2000 to proceed with subscription offering.
Brockton Credit Union, Brockton - permission to establish branch offices at (1) 11A East Grove Street, Middleboro; and (2) 486 New State Highway, Route 44, Raynham - approved May 19, 2000.
Clinton Savings Bank, Clinton - permission to establish a branch office at 231 West Boylston Street, West Boylston - approved May 16, 2000.
Compass Bank for Savings, New Bedford - permission to establish a branch office at 423 Route 134, Dennis - approved May 25, 2000.
Hyde Park Co-operative Bank, Hyde Park - permission to establish a branch office at 733-735 Centre Street, Jamaica Plain - approved May 24, 2000.
Lowell Five Cent Savings Bank, Lowell - permission to relocate a branch office from the Nabnasset Shopping Center, Brookside Road, Westford to 499 Groton Road, Westford - approved May 25, 2000.
Middlesex Savings Bank, Natick - permission to establish a branch office at 308 Great Road, Littleton - approved May 2, 2000.
Tremont Credit Union ("Tremont"), Boston - permission (1) for A.D.L. Employees Federal Credit Union ("A.D.L. Employees"), Cambridge to merge with and into Tremont under the charter, by-laws and name of Tremont Credit Union and to maintain the sole banking office of A.D.L. Employees as a branch office of Tremont; and in connection therewith (2) to amend the membership by-law of Tremont to now include employees of Arthur D. Little, Corp., Cambridge; Helix Technology Corp., Mansfield; and CTI Cryogenics Corp., Mansfield - approved May 24, 2000.
Webster Five Cents Savings Bank, Webster - permission to establish a branch office at 349 Grafton Street, Worcester - approved May 25, 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 end June 22, 2000.
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 ended May 22, 2000.
Hyde Park Co-operative Bank, Hyde Park - permission to close a branch office located at 185 Wolcott Square, Hyde Park. Comment period ends June 15, 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 ends June 22, 2000.
Plan Credit Union, Boston - permission to relocate its main office from 100 Summer Street to One Landmark Center, 401 Park Drive, Boston. Comment period ends June 13, 2000.
Polish National Credit Union, Chicopee - permission to relocate a branch office from 49 West State Street to 34 West State Street, Granby. Comment period ends June 13, 2000.
Randolph Savings Bank, Randolph - permission to establish branch offices at (1) 305 Turnpike Street, Canton; and (2) 1125 North Main Street, Randolph. Comment periods end June 15, 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. Comment periods end June 5, 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 ends June 30, 2000.
JUNE 2000 FILING DATE
Complete applications for the June Activity Report must be received by the Division or the Board on or before 5:00 P.M., Thursday, June 15, 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").
Boston Private Bank & Trust Company, Boston
Brotherhood Credit Union, Lynn
Clinton Savings Bank, Clinton
East Cambridge Savings Bank, Cambridge
Florence Savings Bank, Florence
Gas & Electric Employees Credit Union, Melrose
Jeanne D'Arc Credit Union, Lowell
TEMPORARY CHECK CASHER LICENSES
Wednesday, June 7, 2000 at 2:00 p.m.
J. Edward Christian Municipal Office Building
Finance Committee Room, 26 Central Street
West Springfield, Massachusetts
Graham's Check Cashing, Inc., Springfield, Massachusetts - permission to operate a check casher office at 715 Main Street, West Springfield. Comment period ends 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
Berkshire Bank, Pittsfield - approved May 21, 2000
Citizens-Union Savings Bank, Fall River - approved May 2, 2000
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.