BOARD OF BANK INCORPORATION
Thursday, July 12, 2001
One South Station, Boston
At 11:00 a.m.
Berkshire Financial Services, Inc., Lee, Massachusetts - permission to become a bank holding company through its establishment of Freedom National Bank (in organization), Greenville, Rhode Island. Berkshire Financial Services, Inc. is the mutual holding company for Lee Bank, Lee, Massachusetts. Comment period ends July 20, 2001.
Boston Private Financial Holdings, Inc. (the "Petitioner"), Boston, Massachusetts - permission to acquire Sand Hill Private Bank & Trust Company (in organization), Menlo Park, California and become a bank holding company under chapter 167A of the General Laws. The Petitioner is currently the holding company for Boston Private Bank & Trust Company, Boston - withdrawn June 29, 2001.
DIVISION OF BANKS
City of Boston Credit Union, Boston - permission to establish a branch office at 53-55 Tolman Street, Dorchester - approved June 28, 2001.
Commerce Bank & Trust Company, Worcester - permission to establish a branch office at 565 Main Street, Leominster - approved June 15, 2001.
Eastern Bank, Lynn - permission to close a branch office located at 71 Main Street, Hingham - approved June 25, 2001.
Enterprise Bank and Trust Company, Lowell - permission to establish a branch office at 430-448 Gorham Street, Lowell - approved June 25, 2001.
Lawrence Savings Bank (the "Bank"), North Andover - permission to reorganize the Bank into a holding company structure pursuant to a Plan of Reorganization and Acquisition dated as of March 12, 2001 between the Bank and LSB Corporation, a Massachusetts corporation formed to effect the reorganization - approved June 22, 2001.
Southbridge Savings Bank, Southbridge - permission to establish a branch office at the Village Point Plaza, at the intersection of U.S. Route 67 and Ware Road, Warren - approved June 26, 2001.
Stoneham Co-operative Bank, Stoneham - permission to relocate a branch office from 490 Boston Road to 493 Boston Road, Billerica - approved June 22, 2001.
Weymouth Co-operative Bank, East Weymouth - permission to establish a branch office at 83 Summer Street, Kingston - approved June 26, 2001.
Brockton Brotherhood Credit Union, Brockton - permission to close a branch office located at 25 Torrey Street, Brockton. Comment period ends July 16, 2001.
Cape Cod Co-operative Bank, Yarmouth Port - permission to establish a branch office at Independence Park, 31 Attucks Lane, Hyannis. Comment period ends July 19, 2001.
Chelms Credit Union (the "Credit Union"), Chelmsford - permission to amend its by-laws to (1) expand membership eligibility to now include individuals who work or reside in Chelmsford; and (2) change the name of the Credit Union to Chelmsford Credit Union. Comment periods ended June 25, 2001.
East Boston Savings Bank, East Boston - permission to establish a branch office at 67 Prospect Street, Peabody. Comment period ends July 19, 2001.
FHBT Credit Union, Northampton - permission to close a branch office located at 1124 Berkshire Avenue, Springfield. Comment period ended May 10, 2001.
Fall River Municipal Employees Credit Union, Fall River - permission to establish a branch office at the intersection of G.A.R. Highway (Route 6) and Greystone Avenue, North Dartmouth. Comment period ended June 12, 2001.
First Essex Bank, Lawrence - permission to establish a branch office at 794 Rogers Street, Lowell. Comment period ends July 19, 2001.
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.
Hometown Bank, A Co-operative Bank, Webster - permission to establish a branch office at 331 Main Street, Sturbridge. Comment period ends July 19, 2001.
Hudson Savings Bank, Hudson - permission to establish a branch office adjacent to Woodruff Plaza, Main Street, Clinton. Comment period ends July 13, 2001.
Kelko Credit Union ("Kelko"), Springfield and Spalding Employees Credit Union ("Spalding"), Chicopee - permission to merge Spalding 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 the sole banking office of Spalding would be retained as a branch office. The by-laws of Kelko would be amended to change membership eligibility to reflect this transaction as well as a previous merger. Comment period ended April 23, 2001.
MetroWest Bank, Framingham - permission to establish a branch office at 542 Boston Post Road, Weston. Comment period ends July 6, 2001.
Park West Bank and Trust Company ("Park West"), West Springfield and Cargill Bank ("Cargill"), Putnam, Connecticut - permission to merge under the charter and by-laws of Park West and name of Westbank. The main office of Park West would remain the main office of the continuing institution and all of the banking offices of Cargill would be retained as branch offices. Park West and Cargill are both subsidiaries of Westbank Corporation, West Springfield, Massachusetts, a bank holding company. Comment period ends July 23, 2001.
Rockland Trust Company, Rockland - permission to establish a branch office at 100 Belmont Street, Brockton. Comment period ends July 4, 2001.
Southern Massachusetts Telephone Workers' Credit Union, Fairhaven - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility would now include persons who live, work, worship or attend school in Barnstable, Bristol, Dukes, Nantucket, Norfolk and Plymouth Counties, as well as other provisions specified in the proposed by-law. Comment period ended April 23, 2001.
Tremont Credit Union ("Tremont"), Boston and Greater Boston Federal Credit Union ("Greater Boston"), Boston - permission to merge Greater Boston with and into Tremont under the charter, by-laws and name of Tremont Credit Union. The main office of Tremont would remain the main office of the continuing credit union and the sole banking office of Greater Boston would be retained as a branch office. The by-laws of Tremont would be amended to change membership eligibility to reflect this transaction and to include employees of The B.E.L.L. Foundation, Dorchester; The Massachusetts Historical Society, Boston; and South Boston Harbor Academy Charter School, South Boston. Comment periods end August 3, 2001.
Ware Co-operative Bank, Ware - permission to relocate a branch office from 2024 Main Street, Three Rivers to 2060 Main Street, Three Rivers. Comment period ends July 16, 2001.
JULY 2001 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., Monday, July 16, 2001.
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").
Abington Savings Bank, Abington
Community Credit Union of Lynn, Lynn
Fenwal Credit Union, Ashland
Savers Co-operative Bank, Southbridge
The Savings Bank, Wakefield
Workers' Credit Union, Fitchburg
TEMPORARY CHECK CASHER LICENSES
Thursday, July 12, 2001 at 3:00 p.m.
Springfield City Hall, Room 220
36 Court Street
Dimitrios Koufopoulos d/b/a Main Check Cashing, Springfield, Massachusetts - permission to operate a check casher business at 1228 Main Street, Springfield, Massachusetts. Comment period ends July 19, 2001.
APPLICATIONS TO SELL INSURANCE
Fidelity Co-operative Bank, Fitchburg - approved June 20, 2001
Stoneham Savings Bank, Stoneham - approved June 4, 2001
UniBank for Savings, Whitinsville - approved June 26, 2001
Bay State Savings Bank, Worcester - pending
Braintree Co-operative Bank, Braintree - pending
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