BOARD OF BANK INCORPORATION
Decisions
Independent Bank Corp. (the "Petitioner"), Rockland, Massachusetts - permission to acquire Slade's Ferry Bancorp. and its subsidiary bank, Slade's Ferry Trust Company, Somerset, Massachusetts. The Petitioner is the holding company for Rockland Trust Company, Rockland, Massachusetts - approved February 26, 2008.
Applications Pending
OneUnited Bank, Boston, Massachusetts - permission to become a bank holding company through the formation of a federally chartered savings bank in connection with its proposed reorganization from a Massachusetts-chartered trust company into a federally-chartered savings bank in a holding company structure. The continuing bank will be known as OneUnited Bank, FSB. Comment period ended October 24, 2007.
Power Corporation of Canada and Power Financial Corporation, Montreal, Quebec, Canada (the "Petitioners") - permission to acquire ownership and control of Putnam Fiduciary Trust Company, a de novo New Hampshire-chartered nondepository trust company (in formation). The acquisition is part of the corporate reorganization of Putnam Fiduciary Trust Company, Boston, Massachusetts, a Massachusetts-chartered trust company and indirect subsidiary of the Petitioners. Comment period ended January 31, 2008.
DIVISION OF BANKS
Decisions/Notices
East Boston Savings Bank, East Boston - notice to establish a branch office at 381 Main Street, Wakefield - non-objection issued February 12, 2008.
Legacy Banks, Pittsfield, Massachusetts - permission to establish a branch office at 39 North Pearl Street, Albany, New York - approved February 8, 2008.
Middlesex Savings Bank, Natick - permission to relocate a branch office from 19 Concord Road, Sudbury to 454 Boston Post Road, Sudbury - approved February 5, 2008.
Rockland Trust Company ("Rockland"), Rockland and Slade's Ferry Trust Company ("Slade's Ferry"), Somerset - permission for the merger of Slade's Ferry with and into Rockland. The main office of Rockland would remain the main office of the continuing institution and the banking offices of Slade's Ferry would be retained as branch offices - approved February 26, 2008.
Applications/Notices Pending
Crescent Credit Union, Brockton - permission to (1) close its main office located at 60 Crescent Street, Brockton; and (2) redesignate its current branch office at 115 Commercial Street, Brockton, as the main office. Comment periods end March 5, 2008.
Eastern Bank, Boston - permission to close a branch office located at 90 New State Highway, Raynham. Comment period ended February 29, 2008.
Haverhill Bank, Haverhill and Northeast Community Credit Union ("Northeast"), Haverhill - permission to merge under the charter, by-laws and name of Haverhill Bank. The main office of Haverhill Bank would remain the main office of the continuing institution and the banking offices of Northeast would be retained as branch offices. Comment period ended January 10, 2008.
Legacy Banks, Pittsfield, Massachusetts - permission to establish a branch office at 545 Troy-Schenectady Road, Colonie, New York. Filed February 5, 2008.
North Brookfield Savings Bank, North Brookfield - permission to relocate its main office from 35 Summer Street, North Brookfield to 9 Gilbert Street, North Brookfield. Comment period ends March 13, 2008.
OneUnited Bank, Boston - permission to merge with and into a newly formed federally-chartered savings bank, OneUnited Bank, FSB. Comment period ended October 24, 2007.
Putnam Fiduciary Trust Company ("Putnam, MA"), Boston, Massachusetts - permission to merge with and into Putnam Fiduciary Trust Company ("Putnam, NH), New Hampshire (in formation), a nondepository trust company. The main office of Putnam, MA will remain the main office of Putnam, NH. Comment period ended January 31, 2008.
River Bank, North Andover, Massachusetts - permission to establish a branch office at 51 Crystal Avenue, Derry, New Hampshire. Filed February 1, 2008.
Salem Five Cents Savings Bank, Salem - permission to close a branch office located at 87 Elm Street, Danvers. Comment period ends March 7, 2008.
MARCH 2008 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 14, 2008.
APPLICATIONS TO SELL INSURANCE
Bristol County Savings Bank, Taunton - pending
Premier Source Credit Union, East Longmeadow - pending
Weymouth Bank, Weymouth - pending
Winchester Savings Bank, Winchester - pending
CHECK CASHER LICENSES
Hearings
March 4, 2008
Chelsea City Hall, Room 305
500 Broadway
Chelsea, Massachusetts.
At 5:30 p.m.
E-Z Telecom Corporation, Chelsea Massachusetts - permission to operate a check casher office at 227 Broadway, Chelsea, Massachusetts. Comment period ends March 11, 2008.
Decisions
EOM Associates, LLC d/b/a United Check Cashing, Brockton, Massachusetts - permission to operate a check casher office located at 531 Pleasant Street, Brockton, Massachusetts - approved February 14, 2008.
Applications Pending
Kirsch & Davis, Inc. d/b/a Kirsch Package Store, Worcester, Massachusetts - permission to operate a check casher office at 646 Main Street, Worcester. Comment period ended August 24, 2006.
Parrot Check Cashing, LLC, Cambridge, Massachusetts - permission to operate a check casher office located at 56 Creighton Street, Cambridge and a mobile check cashing service to serve the North Cambridge, Massachusetts area. Comment period ended February 28, 2007.
Wal-Mart Stores East, LP d/b/a Wal-Mart Stores, Bentonville, Arkansas - permission to operate a check casher office located at 1620 Main Street, Leicester, Massachusetts. Comment period ended January 30, 2008.
THE COMMONWEALTH OF MASSACHUSETTS
EXECUTIVE OFFICE FOR ADMINISTRATION AND FINANCE
AND
DIVISION OF BANKS
NOTICE OF PUBLIC HEARING
Pursuant to the provisions of Massachusetts General Laws chapter 255F and in accordance with the provisions of Massachusetts General Laws chapter 30A, section 2, a joint public hearing will be held on Tuesday, March 18, 2008 at 10:00 a.m., Hearing Room A, 5 th Floor, One South Station, Boston, Massachusetts at which comments will be received by the Executive Office for Administration and Finance and the Division of Banks (the "Division") relative to the establishment of fees in connection with the licensing of mortgage loan originators under Chapter 206 of the Acts of 2007 and regulation 801 CMR 4.02.
SECTION 15 of Chapter 206 of the Acts of 2007 establishes a new chapter, Chapter 255F, in the General Laws which creates a licensing, examination and supervisory system for the regulation of individuals who act as mortgage loan originators in the Commonwealth. Sections 3 and 6 of Chapter 255F require that each application for a license be accompanied by an investigation fee and that each licensee pay an annual license fee. The proposed fees are $115 for the investigation and $500 for the annual license fee. Investigation and license fees shall be reviewed annually by the secretary of administration pursuant to section 3B of chapter 7 of the General Laws.
Written comments may be submitted to the Division on the proposed fees until 5:00 p.m. on Tuesday, March 18, 2008. Copies of the proposed fees are 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 .