BOARD OF BANK INCORPORATION
Hearings
November 4, 2004
Fifth Floor - Hearing Room A
One South Station
Boston, Massachusetts
At 10:00 a.m.
Brookline Bancorp, Inc., Brookline, Massachusetts - permission to acquire Medford Co-operative Bank, Medford, Massachusetts, through a merger with its holding company, Mystic Financial, Inc., Medford, Massachusetts. Brookline Bancorp, Inc. is the holding company for Brookline Bank, Brookline, Massachusetts. Comment period ends November 11, 2004.
At 10:30 a.m.
Eastern Bank Corporation (the "the Petitioner"), Boston, Massachusetts - permission to become a bank holding company through the acquisition of Plymouth Savings Bank, Wareham, Massachusetts, through a merger with its mutual holding company, Plymouth Bancorp, Inc., Wareham, Massachusetts. The Petitioner is the mutual holding company for Eastern Bank. Comment period ends November 11, 2004.
At 11:00 a.m.
Banknorth Group, Inc., Portland, Maine - permission to acquire Boston Federal Savings Bank, Burlington, Massachusetts through a merger with its holding company, BostonFed Bancorp, Inc., Burlington, Massachusetts. Comment period ends November 11, 2004.
Decisions
Georgetown Savings Bank, Georgetown, Massachusetts - permission to convert from a Massachusetts chartered savings bank to a federal savings bank - approved October 15, 2004.
DIVISION OF BANKS
Decisions
Aldenville Credit Union, Chicopee - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to include those who reside, work, worship or attend school in all of the communities in Hampden and Hampshire Counties and the Towns of Whately and Sunderland in Franklin County, as set out in the proposed by-law, as well as those employed by a company with its main office or corporate headquarters within these communities - approved October 12, 2004; approval deleted the word "worship".
Berkshire Bank, Pittsfield, Massachusetts - permission to (i) purchase certain assets and assume certain deposit and other liabilities of the branch office of The National Bank of Vernon, Vernon, New York located at 210-212 Main Street, Oriskany Falls, New York; and in connection therewith (ii) establish and maintain a branch office at that location - approved October 1, 2004.
Clinton Savings Bank, Clinton - permission to establish a branch office on Shrewsbury Street at the intersection of Route 140 and Route 70, Boylston - approved October 28, 2004.
Lowell Five Cent Savings Bank, Lowell - permission to establish a branch office at Stadium Plaza, 10 Main Street, Tewksbury - approved October 28, 2004.
Reading Co-operative Bank, Reading - permission to establish a branch office at 230 Lowell Street, Wilmington - approved October 28, 2004.
Rockland Trust Company, Rockland - permission to close its branch office located at Rockland Plaza, 123 Market Street, Rockland - approved October 28, 2004.
Springfield Teachers Credit Union, Springfield - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to include those who live, work or worship in Berkshire, Franklin, Hampden and Hampshire Counties as well as family members as defined in the proposed by-law - approved October 4, 2004; approval deleted references to "worship"and "Berkshire County" and clarified the definition of the term "immediate family member".
Wainwright Bank & Trust Company, Boston - permission to establish a branch office at 1255 Centre Street, Newton - approved October 28, 2004.
Applications Pending
Century Bank and Trust Company, Somerville - permission to establish a branch office at 136 State Street, Boston. Comment period ends November 18, 2004.
Citizens Bank of Massachusetts, Boston - permission to establish a branch office within Stop & Shop Supermarket, 341 Plymouth Street, Halifax. Comment period ended October 27, 2004.
Credit Union of the Berkshires, Pittsfield - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative membership eligibility proposes to include persons who live, work, or attend school in Berkshire County, as well as other changes specified in the proposed by-law. Comment period ends November 26, 2004.
Dunkin' Donuts Employees Credit Union, Randolph - permission to relocate its main office from 14 Pacella Park Drive, Randolph to 130 Royall Street, Canton. Comment period ended October 29, 2004.
Enterprise Bank and Trust Company, Lowell, Massachusetts - permission to establish a branch office at Eastpointe Plaza, 130 Main Street, Unit 101 A/B, Salem, New Hampshire. Comment period ended August 19, 2004.
Graphic Arts Credit Union, Southborough - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to add membership for members of Printing Industries of New England and delete references to The Printing Industry of Connecticut and Western Massachusetts. Comment period ended October 25, 2004.
Jeanne D'arc Credit Union, Lowell - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to include persons who live, work or attend school in Middlesex and Essex Counties, and the communities of Fitchburg, Leominster, Harvard, Lunenburg and Lancaster in Worcester County, as well as other areas as specified in the proposed by-law. Comment period ends November 17, 2004.
North Shore Bank, A Co-operative Bank, Peabody - permission to establish a branch office at Staples Plaza, 3-27 Paradise Road, Salem. Comment period ends November 3, 2004.
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 proposes to 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.
Quincy Municipal Credit Union (the "Credit Union"), Quincy - permission to amend its by-laws to (1) expand membership eligibility to now include persons who reside in or are employed in Norfolk County, Plymouth County, Barnstable County and Dorchester, Massachusetts; and (2) change the name of the Credit Union to Quincy Credit Union. Comment periods ended August 26, 2004.
River Works Credit Union ("the "Credit Union"), Lynn - permission to amend its by-laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to change that by-law provision by including references to Middlesex and Suffolk Counties as well as those who work within a twenty-five mile radius of the Credit Union. Comment period ended October 25, 2004.
St. Anne's Credit Union of Fall River ("St. Anne's"), Fall River and St. Stanislaus Federal Credit Union ("St. Stanislaus"), Fall River - permission for St. Stanislaus to merge with and into St. Anne's under the charter, by-laws and name of St. Anne's Credit Union of Fall River. The main office of St. Anne's would remain the main office of the continuing credit union and the sole banking office of St. Stanislaus would not be retained as a branch office. Comment period ends December 3, 2004.
The Savings Bank, Wakefield - permission to establish a branch office at 17 Burnham Road, Methuen. Comment period ends November 12, 2004.
Tremont Credit Union ("Tremont"), Boston and New Boston Federal Credit Union ("New Boston"), Dorchester - permission to merge 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 New Boston would not be retained as a branch office. Comment period ended October 25, 2004.
Workers' Credit Union, Fitchburg - permission to establish a branch office at 6 Turnpike Road, Chelmsford. Comment period ends November 11, 2004.
NOVEMBER 2004 FILING DATE
Complete applications for the November Activity Report must be received by the Division or the Board on or before 5:00 P.M., Monday, November 15, 2004.
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 | ||
FINANCIAL INSTITUTION | RATING | EXAMINATION |
Barre Savings Bank, Barre | S | 06/23/04 |
North Easton Savings Bank, North Easton | S | 06/28/04 |
APPLICATIONS TO SELL INSURANCE
No insurance sales applications were filed during the month of October 2004.
TEMPORARY CHECK CASHER LICENSES
Hearing
There are no hearings for the month of November.
Applications Pending
City Check Cashing, Inc., Medford, Massachusetts - permission to operate a check casher office at 209 Mystic Avenue, Medford, Massachusetts. Comment period ended September 28, 2004.
Peabody Check Cashing, Inc., Peabody, Massachusetts - permission to operate a check casher office at 101 Ferry Street, Malden, Massachusetts. Comment period ended May 19, 2004.
THE COMMONWEALTH OF MASSACHUSETTS
DIVISION OF BANKS
NOTICE OF PUBLIC HEARING
December 1, 2004
Fifth Floor, Hearing Room A
One South Station
Boston, Massachusetts
At 10:00 a.m.
Pursuant to the provisions of subsection (c) of section 28C of chapter 183 of the General Laws added by Chapter 268 of the Acts of 2004 and in accordance with Massachusetts General Laws chapter 30A, section 2, a public hearing will be held on Wednesday, December 1, 2004 at 10:00 a.m., One South Station, Hearing Room A, Fifth Floor, Boston, Massachusetts, at which oral comments will be received by the Division of Banks (the "Division") relative to making permanent 209 CMR 53.00: Determination and Documentation of Borrower's Interest. The regulation establishes definitions and provisions governing, among other things, classifications and differentiations for home loans as well as for compliance with the "borrower's interest" standard in connection with the refinancing of certain home loans and other provisions set out in said section 28C. The Division filed these regulations as Emergency Regulations on November 8, 2004. Changes or amendments may be made based on comments received at the public hearing or during the comment period.
Written comments may be submitted to the Division on the proposed regulations until 5:00 p.m. on Friday, December 3, 2004. A copy of the proposed regulations is available at, and copies may be obtained from, the Massachusetts Division of Banks, One South Station, Boston, Massachusetts 02110 or at www.mass.gov/dob/.
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.