BOARD OF BANK INCORPORATION
Applications Pending
Norwood Co-operative Bank, Norwood - permission to establish a mutual co-operative bank in conjunction with its multi-step reorganization into a mutual holding company, 1889 Bancorp MHC, with a mid-tier holding company, 1889 Financial Services Corporation. The continuing bank will operate under the name Norwood Co-operative Bank. Comment period ended July 20, 2009.
DIVISION OF BANKS
Decisions/Notices
Bristol County Savings Bank, Taunton - notice to establish a branch office at the corner of Ashley Boulevard and Tacoma Street, New Bedford - non-objection issued July 29, 2009.
Haverhill Bank, Haverhill - permission to close a branch office located at 20 Cushing Avenue, Haverhill - approved July 13, 2009.
South Shore Savings Bank, South Weymouth - permission to close a branch office located at 34 Court Street, Plymouth - approved July 29, 2009.
The Provident Bank, Amesbury, Massachusetts - permission to establish a branch office at 321 Lafayette Road, Hampton, New Hampshire - approved July 7, 2009.
The Provident Bank, Amesbury, Massachusetts - permission to relocate a branch office from 120 Water Street, Exeter, New Hampshire to 95 Portsmouth Street, Exeter, New Hampshire - approved July 7, 2009.
Applications/Notices Pending
Boston Firefighters 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 add membership for employees and retirees of the fire departments whose members comprise the Professional Fire Fighters of Massachusetts, as well as other changes as specified in the proposed by-law. Comment period ends August 14, 2009.
Norwood Co-operative Bank, Norwood - permission to reorganize into a mutual holding company, 1889 Bancorp MHC, with a mid-tier holding company, 1889 Financial Services Corporation, as part of a multi-step transaction. Comment period ended July 20, 2009.
Salisbury Bank and Trust Company, Lakeville, Connecticut - permission to relocate a branch office from 73 Main Street, Sheffield, Massachusetts to 640 Main Street, Sheffield, Massachusetts. Filed July 23, 2009.
Walpole Municipal Employees Credit Union ("Walpole"), Walpole and Rockland Federal Credit Union ("Rockland"), Rockland - permission to merge under the charter, by laws and name of Rockland. The main office of Rockland would remain the main office of the continuing credit union and the sole banking office of Walpole would not be retained as a branch office. Comment period ends September 14, 2009.
AUGUST 2009 FILING DATE
Complete applications for the August Activity Report must be received by the Division or the Board on or before 5:00 P.M., Friday, August 15, 2009.
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").
| Financial Institution | Rating | Date of Examination |
|---|---|---|
Athol Credit Union, Athol | S | 05/04/09 |
Cape Ann Savings Bank, Gloucester | HS | 03/23/09 |
Framingham Co-operative Bank, Framingham | S | 02/17/09 |
Newburyport Five Cents Savings Bank, Newburyport | S | 01/20/09 |
Quincy Credit Union, Quincy | S | 05/05/09 |
APPLICATIONS TO SELL INSURANCE
None
CHECK CASHER LICENSES
Applications Pending
Bennington Convenience Store, Inc. d/b/a Sava's Market, East Boston - permission to operate a check casher office at 150 Bennington Street, East Boston. Comment period ended June 18, 2009.
Castleridge, Inc., Fitchburg, Massachusetts - permission to operate a check casher office at 442 Mechanic Street, Fitchburg. Comment period ended November 20, 2008.
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 .