BOARD OF BANK INCORPORATION
Chittenden ("Chittenden") Corporation, Burlington, Vermont - permission to acquire Ocean National Corporation and its subsidiary bank, Ocean National Bank, Kennebunk, Maine. In the Commonwealth, Chittenden is the bank holding company for Flagship Bank and Trust Company, Worcester and The Bank of Western Massachusetts, Springfield - approved February 8, 2002.
FIRSTFED AMERICA BANCORP, INC. ("FIRSTFED"), Swansea, Massachusetts - permission to acquire People's Bancshares, Inc., New Bedford and its banking subsidiary, People's Savings Bank of Brockton ("People's Savings"), South Easton, Massachusetts. Subsequent to the acquisition, People's Savings will merge with and into First Federal Savings Bank of America, Swansea, the bank subsidiary of FIRSTFED - approved February 19, 2002.
GBC Bancorp, Inc. and General Bank, Los Angeles, California - permission to acquire Liberty Bank and Trust Company, Boston, Massachusetts and become bank holding companies in a multi-step transaction - approved February 19, 2002.
MountainOne Financial Partners, MHC ("MountainOne MHC") and MountainOne Financial Partners, Inc., North Adams, Massachusetts - permission to become bank holding companies for Hoosac Bank, North Adams and Williamstown Savings Bank, Williamstown, Massachusetts. As part of this transaction the then existing mutual holding company of each bank will merge with and into MountainOne MHC (In Organization). Comment period ended December 14, 2001.
South Coastal Bank, Rockland, Massachusetts - permission to establish a mutual savings bank, South Coastal Interim Bank, and a stock savings bank in conjunction with its multi-step reorganization into a mutual holding company, South Coastal Holdings MHC, Inc. Comment period ended February 18, 2002.
DIVISION OF BANKS
Athol Credit Union, Athol - 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 Franklin County, Hampshire County and the following municipalities in Worcester County: Ashburnham, Athol, Barre, Brookfield, East Brookfield, Gardner, Hardwick, Holden, Hubbardston, Leicester, New Braintree, North Brookfield, Oakham, Paxton, Petersham, Phillipston, Princeton, Royalston, Rutland, Spencer, Templeton, Warren, West Brookfield, Westminster and Winchendon - approved February 13, 2002; approval deleted the proposed by-law term "worship" and clarified the definition of the term "immediate family".
Citizens Bank of Massachusetts, Boston - permission to establish branch offices within Stop & Shop Supermarkets located at 1) 468 Washington Street, Norwell; 2) 375 Centre Street, Abington; 3) 290 Turnpike Road, Westborough; 4) 940 West Boylston Street, Worcester; 5) 949 Grafton Street, Worcester; 6) 1282 Springfield Street, Agawam; 7) 301 Newbury Street, Danvers; 8) 100 Charlton Road, Sturbridge; 9) 565 Main Street, Walpole; 10) 160 Summer Street, Kingston; 11) 206 East Washington Street, North Attleboro; 12) 1415 Providence Highway, Norwood; 13) 151 V.F.W. Parkway, Revere; 14) 8B Allstate Road, Dorchester; 15) 140 West Central Street, Franklin; 16) 235 Old Connecticut Path, Framingham; 17) 19 Temple Street, Framingham; and 18) 450 Paradise Road, Swampscott - approved February 28, 2002.
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 - membership by-law request approved and name change by-law request withdrawn on February 13, 2002; approval deleted the proposed by-law term "worship", specified various relationships with the General Electric Company and clarified the definition of the term "family members".
Liberty Bank and Trust Company ("Liberty Bank"), Boston, Massachusetts and General Bank, Los Angeles, California - permission to merge Liberty Bank with and into General Bank in a multi-step transaction. Under the proposed transaction the banking offices of Liberty Bank will be retained as branch offices - approved February 19, 2002.
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 - approved February 13, 2002; approval deleted the proposed by-law terms "Dukes County", "Natucket County", "Norfolk County","worship" and "business and other legal entities".
Tremont Credit Union, Boston - permission to amend its by-laws to expand its membership eligibility to now include (1) Employees of Eze Castle Software, Inc., Boston; (2) Employees of Global Ventures Ltd., Boston; (3) Employees of Bromberg and Sunstein LLP, Boston; (4) Employees of STEP Inc., Boston; (5) Employees of Ticketmaster LLC, Boston; (6) Employees of Extraprise, Boston; (7) Employees of Mount Auburn Cemetery, Cambridge; (8) Employees of Codman Academy Charter School, Dorchester; (9) Employees of Dorchester House, Dorchester; (10) Employees of Metro Investigation and Recovery Services, Quincy; (11) Employees of the Urban League of Eastern Massachusetts, Roxbury; and (12) Members of the National Association for the Advancement of Colored People, Boston, Massachusetts - approved February 28, 2002.
UniBank for Savings, Whitinsville - permission to establish a branch office at Sutton Square Mall, 160 Worcester-Providence Turnpike (Route 146), Sutton - approved February 26, 2002.
AllCom Credit Union, Worcester - permission to amend its by-laws to expand the associations which qualify persons for membership. This application was filed in conjunction with the application for the merger of Commonwealth Gas Employees' Credit Union, Southborough with and into AllCom Credit Union. The merger was approved December 19, 2001. Comment period ended November 26, 2001.
Commerce Bank & Trust Company, Worcester - permission to establish a branch office at 340 Maple Street, Marlboro. Comment period ended February 11, 2002.
Eastern Bank, Lynn - permission to establish branch offices at (1) 265 Franklin Street, Boston; and (2) the Dedham Mall, 300 VFW Parkway, Dedham. Comment periods end March 11, 2002.
Hoosac Financial Services, Inc. ("Hoosac Financial"), North Adams and Williamstown Mutual Holding Company (In Organization) ("Williamstown MHC"), Williamstown - permission to merge with and into MountainOne Financial Partners, MHC (In Organization) ("MountainOne MHC"), North Adams. Hoosac Financial is the mutual holding company for Hoosac Bank and Williamstown MHC is the proposed mutual holding company for Williamstown Savings Bank. Upon consummation of the proposed transaction both banks will be maintained as separate subsidiaries of MountainOne Financial Partners, Inc., the mid-tier holding company subsidiary of MountainOne MHC. Comment period ended December 14, 2001.
Postal Community Credit Union, Boston - 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 reside in or are employed by entities with a location in Essex, Middlesex, Norfolk, Plymouth and Suffolk Counties. Comment period ended August 27, 2001.
South Coastal Bank, Rockland - permission to reorganize into a mutual holding company, South Coastal Holdings MHC, Inc., as part of a multi-step transaction. Comment period ended February 18, 2002.
Wellesley Co-operative Bank, Wellesley - permission to establish a branch office at 195-197 Linden Street, Wellesley. Comment period ends March 18, 2002.
MARCH 2002 FILING DATE
Complete applications for the March Activity Report must be received by the Division or the Board on or before 5:00 P.M., Friday, March 15, 2002.
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").
Bridgewater Co-operative Bank, Bridgewater
St. Anne's Credit Union of Fall River, Fall River
TEMPORARY CHECK CASHER LICENSES
St. James Check Cashing, Inc., Springfield, Massachusetts - permission to operate a check casher office within the Allen Package Store located at 390 Allen Street, Springfield, Massachusetts - approved February 26, 2002.
APPLICATIONS TO SELL INSURANCE
Commerce Bank & Trust Company, Worcester - pending
Dedham Institution for Savings, Dedham - pending
Greenfield Savings Bank, Greenfield - approved February 27, 2002
South Shore Co-operative Bank, Weymouth - approved February 26, 2002
CHANGE IN SERVICE
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