BOARD OF BANK INCORPORATION
Hearing
January 5, 2006
Fifth Floor - Hearing Room A
Boston, Massachusetts
At 10:30 a.m.
Bank of Cape Cod, Hyannis, Massachusetts - permission to establish a trust company. Comment period ends January 13, 2006.
Decisions
Salem Five Cents Savings Bank, Salem, Massachusetts - permission to establish a mutual savings bank in conjunction with its multi-step reorganization into a mutual holding company, Salem Five Bancorp. The continuing bank will operate under the name Salem Five Cents Savings Bank - approved December 14, 2005.
DIVISION OF BANKS
Decisions/Notices
Community Bank, A Massachusetts Co-operative Bank (The), Brockton - notice to establish a branch office at 704 Main Street, Falmouth - non-objection issued December 27, 2005.
Dean Co-operative Bank, Franklin - notice to establish a branch office at 32 Hastings Street, Mendon - non-objection issued December 29, 2005.
Eastern Bank, Boston - permission to close branch offices located at 1) 270 Union Street, Lynn and 2) 49 Margin Street, Peabody - approved December 2, 2005.
Haverhill Municipal Employees Credit Union, Haverhill - 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 those who work for the cities and towns of Haverhill, Groveland, Merrimac, West Newbury, Amesbury, Newburyport, Georgetown, Methuen, Lawrence, Andover and North Andover, Massachusetts, as well as those who work for specified "health care facilities", as listed in the proposed by-law, located in those cities and towns - approved December 2, 2005.
North Shore Bank, A Co-operative Bank, Peabody - permission to close its branch office located at the Peabody Veterans Memorial High School, 485 Lowell Street, Peabody - approved December 2, 2005.
Polish National Credit Union ("Polish National"), Chicopee and Westfield River Federal Credit Union ("Westfield River"), Westfield - permission to merge under the charter, by-laws and name of Polish National Credit Union. The main office of Westfield River would become a branch office of the continuing credit union and the Chicopee branch office of Westfield River would not be retained as a branch office of Polish National - approved December 21, 2005.
PeoplesBank, Holyoke - notice to establish a branch office at 1900 Wilbraham Road, Springfield - non-objection issued December 5, 2005.
Salem Five Cents Savings Bank, Salem - notice to establish a branch office at 100 South Main Street, Middleton - non-objection issued December 27, 2005.
Salem Five Cents Savings Bank, Salem - permission to reorganize into a mutual holding company, Salem Five Bancorp, as part of a multi-step transaction - approved December 14, 2005.
Workers' Credit Union, Fitchburg - notice to establish a branch office at Chelmsford High School, 200 Richardson Road, Chelmsford - non-objection issued December 8, 2005.
Applications/Notices Pending
Berkshire Bank, Pittsfield, Massachusetts - permission to establish branch offices at 1) Delaware Plaza, 180 Delaware Avenue, Delmar, New York; and 2) 20 Mall, 2080 Western Avenue, Guilderland, New York. Filed December 19, 2005.
Citizens Bank of Massachusetts, Boston - permission to close a branch office located within Longmeadow Place, 42 Mall Road, Burlington. Comment period ended December 29, 2005.
Premier Source 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 add membership for those who live or work in Hampden County and Hampshire County, as well as those enrolled, as specified, in any college or university or post-high school technical school or institute located in those counties. Comment period ends February 3, 2006
Salem Five Cents Savings Bank, Salem and Heritage Co-operative Bank, Salem - permission to merge under the charter, by-laws and name of Salem Five Cents Savings Bank. Comment period ended November 28, 2005.
Seaport Credit Union, Salem - permission to 1) close its current main office located at Three Harbor Street, Salem; and 2) redesignate its current branch office at 336 Lafayette Street, Salem as the main office. Comment periods ended December 26, 2005.
JANUARY 2006 FILING DATE
Complete applications for the January Activity Report must be received by the Division or the Board on or before 5:00 P.M., Tuesday, January 17, 2006.
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 |
Wrentham Co-operative Bank | S | 09/12/05 |
APPLICATIONS TO SELL INSURANCE
Southern Mass Credit Union, Fall River - pending
TEMPORARY CHECK CASHER LICENSES
Hearings
Monday, January 9, 2006
Everett City Hall
484 Broadway, Everett, Massachusetts
At 6:00 p.m.
El Valle De La Sultana Market, Inc., Everett, Massachusetts - permission to operate a check casher office located at 716 Broadway, Everett, Massachusetts. Comment period ends January 16, 2006.
Decisions
Parras, Inc. d/b/a ACE Cash Express, Worcester, Massachusetts - permission to operate a check casher office located at 166 Lincoln Street, Worcester, Massachusetts - approved December 2, 2005.
Applications Pending
Espo Liquor Company, Inc. d/b/a Broadway Liquors, Lawrence, Massachusetts- permission to operate a check casher office located at 434 Broadway, Lawrence, Massachusetts. Comment period ended December 27, 2005.
Hemantkumar Patel d/b/a Easy Check Cashing & Variety, Springfield, Massachusetts - permission to operate a check casher office at 494 Central Street, Springfield Massachusetts. Comment period ended December 14, 2005.
Primos Liquors, Inc., Lawrence, Massachusetts - permission to operate a check casher office located at 450 Haverhill Street, Lawrence, Massachusetts. Comment period ended December 27, 2005.
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.
Respectfully submitted, | |
Marie H. Chandler |
For information relative to current Activity Reports please contact the Consumer Assistance Unit .