BOARD OF BANK INCORPORATION
Hearings
Wednesday, June 19, 2002
Hearing Room, Fifth Floor
One South Station, Boston
At 10:30 a.m.
Randolph Savings Bank (the "Peitioner"), Randolph, Massachusetts - permission to reorganize into a mutual holding company, Randolph Bancorp. The reorganization is structured as a multi-step transaction involving a new mutual savings bank caused to be chartered by the Petitioner and the subsequent merger of the Petitioner with and into the stock subsidiary banking institution formed by the reorganization which will operate under the name of Randolph Savings Bank. Comment period ends June 28, 2002.
Wednesday, June 19, 2002
Hearing Room, Fifth Floor
One South Station, Boston
At 11:00 a.m.
Banknorth Group, Inc. ("Banknorth"), Portland Maine - permission to acquire Ipswich Bancshares, Inc. ("Bancshares"), Ipswich, Massachusetts. In the Commonwealth, Bancshares is the holding company for Ipswich Savings Bank, Ipswich, Massachusetts. As part of this multi-step transaction Ipswich Savings Bank will merge with and into Banknorth's banking subsidiary, Banknorth, N.A. Comment period ends June 28, 2002.
DIVISION OF BANKS
Decisions
Commerce Bank & Trust Company, Worcester - permission to relocate a branch office from 115 East Main Street to 25 Worcester Road, Webster - approved May 29, 2002.
Danvers Savings Bank, Danvers - permission to establish a branch office at 18-20 Central Street, Andover - approved May 21, 2002.
Middlesex Savings Bank, Natick - permission to establish a branch office at 50 Chestnut Street, Needham - approved May 24, 2002.
Applications Pending
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.
Dedham Institution for Savings, Dedham - permission to establish a branch office at 1077 Great Plain Avenue, Needham. Comment period ends June 19, 2002.
Medford Cooperative Bank, Medford - permission to close a branch office located at Medford High School, 489 Winthrop Street, Medford. Comment period ends June 20, 2002.
Northeast Community Credit Union, Haverhill - permission to establish a branch office at One Cushing Avenue, Haverhill. Comment period ends July 1, 2002.
North Middlesex Savings Bank, Ayer - permission to establish a branch office at 947 Massachusetts Avenue, Lunenberg. Comment period ends June 13, 2002.
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.
Slade's Ferry Trust Company, Somerset - permission to close its branch office located within Walgreens, 838 Pleasant Street, New Bedford. Comment period ends June 14, 2002.
Westport National Bank ("Westport"), Westport, Connecticut - permission to establish and maintain a branch office at 188 Needham Street, Newton, Massachusetts through the merger of Middlesex Bank & Trust Company, Newton, Massachusetts with and into Westport. Comment period ends June 11, 2002.
Worcester Fire Department Credit Union, Worcester - permission to relocate its main office from 2 Eastern Avenue, Worcester to 34 Glennie Street, Worcester. Comment period ends June 21, 2002.
JUNE 2002 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., Friday, June 14, 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").
DATE OF | ||
BANK | RATING | EXAMINATION |
Allcom Credit Union, Worcester | S | 03/05/02 |
Haverhill Credit Union, Haverhill | S | 03/19/02 |
Mansfield Co-operative Bank, Mansfield | S | 02/25/02 |
Peoples Savings Bank, Hoyoke | O | 01/14/02 |
The Provident Bank, Amesbury | S | 03/11/02 |
TEMPORARY CHECK CASHER LICENSES
Decisions
Rican, Inc. d/b/a Money Stop, Chicopee, Massachusetts - permission to operate a check casher office at 590 Boston Road, Springfield, Massachusetts - approved May 23, 2002.
Applications Pending
Vizcaino & Vizcaino, Inc. D/B/A Salem Business & Personal Financial Center, Salem, Massachusetts - permission to operate a check casher office at 119 Lafayette Street, Salem, Massachusetts. Comment period ended May 30, 2002.
APPLICATIONS TO SELL INSURANCE
Marlborough Savings Bank, Marlborough - pending
Westborough Bank, Westborough - pending
Woronoco Savings Bank, Westfield - pending
CHANGE IN SERVICE
PLEASE NOTE: All publications of the Division of Banks are now delivered electronically. To subscribe, simply send an email to:
dobactivityreport-subscribe@listserv.state.ma.us
If you need assistance or have questions, please contact Bernard N. Waxman at 617.956.1571.
For information relative to current Activity Reports please contact the Consumer Assistance Unit.