BOARD OF BANK INCORPORATION
Hearings
There are no hearings for the month of June.
July 7, 2005
Fifth Floor - Hearing Room A
One South Station
Boston, Massachusetts
At 10:00 a.m.
Boston Private Financial Holdings, Inc.(the "Petitioner"), Boston, Massachusetts - permission to acquire Gibraltar Financial Corporation and its wholly owned subsidiary, Gibraltar FSB, Coral Gables, Florida. In the Commonwealth, the Petitioner is the holding company for Boston Private Bank & Trust Company, Boston, Massachusetts. Comment period ends July 15, 2005.
July 7, 2005
Fifth Floor - Hearing Room A
One South Station
Boston, Massachusetts
At 10:30 a.m.
Patriot Community Bank, Woburn, Massachusetts - permission to establish a new co-operative bank. Comment period ends July 15, 2005.
Decisions
Berkshire Hills Bancorp, Inc. (the "Petitioner"), Pittsfield, Massachusetts - permission to acquire Woronoco Savings Bank ("Woronoco"), Westfield, Massachusetts, through a merger with its holding company, Woronoco Bancorp, Inc., Westfield, Massachusetts - approved May 31, 2005.
DIVISION OF BANKS
NOTE: On April 7, 2005 the Division of Banks (the "Division") reissued Regulatory Bulletin 2.1-104 (the "Regulatory Bulletin") to reflect changes made to branching procedures, as set forth in Chapter 461 of the Acts of 2004, AN ACT RELATIVE TO BANKS AND BANKING, as well as other procedural changes made by the Division. Under the new procedures, an eligible bank or credit union may submit a notice to the Division in order to establish a branch office in the Commonwealth. The Regulatory Bulletin requires that an application be filed with the Division for all other branch office transactions including branch office openings in other states, branch office relocations and closings, as well as main office relocations and redesignations. This Activity Report is the first activity report to reflect these changes to branching procedures.
Decisions / Notices
Berkshire Bank, Pittsfield and Woronoco Savings Bank, Westfield - permission to merge under the charter, by-laws and name of Berkshire Bank - approved May 31, 2005.
City of Boston Credit Union, Boston - permission to establish a branch office at 75 Spring Street, West Roxbury - approved May 20, 2005.
Danversbank, Danvers - notice to establish a branch office at One Post Office Square, Suite 3700, Boston, Massachusetts - non-objection issued May 24, 2005.
Fall River Municipal Employees Credit Union, Fall River - notice to establish a branch office at Lakeville Plaza, 280 Bedford Street, Lakeville - non-objection issued May 11, 2005.
Lynn Police Credit Union, Lynn - permission to relocate its main office from 18 Sutton Street, Lynn to 300 Washington Street, Lynn - approved May 24, 2005.
Massachusetts State Employees Credit Union, Boston - permission to relocate its main office from 101 Merrimack Street, Boston to One and Two Center Plaza, Boston - approved May 27, 2005.
Members Plus Credit Union, Dorchester - permission to relocate a branch office from 782 Adams Street, Dorchester to 494 Gallivan Boulevard, Dorchester - approved May 24, 2005.
Northampton Co-operative Bank, Northampton - permission to close a branch office located at Big Y Shopping Plaza, Route 5, Northampton - approved May 12, 2005.
St. Mary's Credit Union, Marlborough - notice to establish a branch office at 293 Boston Post Road West, Marlborough - non-objection issued May 31, 2005.
Tremont Credit Union, Boston - permission to permanently close a branch office located at 137 South Street, Boston - approved May 12, 2005.
Tremont Credit Union, Boston - notice to establish a branch office at 2406 Washington Street, Roxbury - non-objection issued May 2, 2005.
Tremont Credit Union, Boston - permission to close a branch office located at Landmark Center, 401 Park Drive, Boston - approved May 20, 2005.
Watertown Savings Bank, Watertown - notice to establish a branch office at 980 Massachusetts Avenue, Arlington - non-objection issued May 11, 2005.
Applications / Notices Pending
Hampden Bank, Springfield - notice to establish a branch office at Tower Square, Suite 215, 1500 Main Street, Springfield. Filed May 11, 2005.
Legacy Banks, Pittsfield - permission to relocate a branch office from 436 West Housatonic Street, Pittsfield to 480 West Housatonic Street, Pittsfield. Comment period ends June 2, 2005.
Polish National Credit Union, Chicopee - permission to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to add membership for those who work or attend any accredited public or private college, university, high school, elementary school or vocational school in Hampden County, Hampshire County, Franklin County and Berkshire County. Comment period ends June 23, 2005.
Telephone Workers Credit Union, Boston - permission to expand the associations which qualify persons for membership. As initially proposed and filed under Option 2 of Regulatory Bulletin 4.1-104, the amendment relative to membership eligibility would add membership for those who live, work or attend school, as defined in the proposed by-law, within Suffolk County, Norfolk County and Plymouth County, as well as thirteen specified communities within Essex County and thirty-two specified communities within Middlesex County.
UniBank for Savings, Whitinsville - permission to relocate a branch office from 160 Worcester/Providence Turnpike (Route 146), Sutton to 156 Worcester/Providence Turnpike (Route 146), Sutton. Comment period ended May 31, 2005.
Westbank, West Springfield - permission to close a branch office located within Big Y Supermarket, One East Silver Street, Westfield. Comment period ended May 27, 2005.
Worcester Credit Union, Worcester - permission to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to now include individuals who attend any accredited public or private college, university, high school, elementary school or vocational school in the city of Worcester and nine contiguous towns, as presently specified in the by-law. Comment period ends June 7, 2005.
Workers' Credit Union ("Workers'"), Fitchburg and Chelmsford Credit Union ("Chelmsford"), Chelmsford - permission to merge Chelmsford with and into Workers' under the charter, by-laws and name of Workers' Credit Union. The main office of Workers' would remain the main office of the continuing credit union and the sole banking office of Chelmsford would be closed within thirty days of the merger. Comment period ends June 8, 2005.
JUNE 2005 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., Wednesday, June 15, 2005.
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 |
BankMalden, A Co-operative Bank, Malden | S | 02/15/05 |
Economy Co-operative Bank, Merrimac | S | 02/08/05 |
Monson Savings Bank, Monson | S | 03/07/05 |
South Adams Savings Bank, Adams | S | 12/06/04 |
Westbank, West Springfield | S | 01/10/05 |
APPLICATIONS TO SELL INSURANCE
Marblehead Savings Bank, Marblehead - pending
Northern Bank & Trust Company, Woburn - pending
Westbank, West Springfield - pending
TEMPORARY CHECK CASHER LICENSES
Hearings
Monday, June 20, 2005
Everett City Hall
484 Broadway
Everett, Massachusetts
At 5:00 p.m.
Sam's Cash Express, Inc., Everett, Massachusetts - permission to operate a check casher office at 178 Chelsea Street, Everett, Massachusetts. Comment period ends Monday, June 27, 2005.
At 6:00 p.m.
All Checks Cashed, Inc., Boston, Massachusetts - permission to operate a check casher office at 1998 Revere Beach Parkway, Everett, Massachusetts. Comment period ends June 27, 2005.
Applications Pending
There are no applications pending.
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.