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People's United Financial, Inc. (Petitioner), Bridgeport, Connecticut, has petitioned the Board of Bank Incorporation (Board) pursuant to Massachusetts General Laws, chapter 167A, sections 2 and 4 for approval to acquire Danvers Bancorp, Inc. (Danvers Bancorp), Danvers, Massachusetts in a multi-step transaction. Danvers Bancorp is the holding company for Danversbank, Danvers, Massachusetts. The Petitioner is the holding company for People's United Bank, Bridgeport, Connecticut. An application has also been filed with the Division of Banks for approval of the subsequent merger of Danversbank with and into People's United Bank.
In determining whether or not to approve the petition the Board and Division must decide whether competition among banking institutions will be unreasonably affected and whether public convenience and advantage will be promoted by this proposal. A public hearing will be given to all interested parties on the petition before the Board on Tuesday, May 24, 2011 at 11:00 a.m., in Hearing Room 1E, First Floor, 1000 Washington Street, Boston, Massachusetts.
All comments concerning this petition, however, must be filed with the Board or the Division by the close of business on May 27, 2011 at the following address. The applications and all communications relative to these matters are available for public inspection at the Division at 1000 Washington Street, 10 th Floor, Boston, MA 02118-6400..
Board of Bank
David J. Cotney
Commissioner of Banks
Navjeet K. Bal
Commissioner of Revenue
Treasurer and Receiver-General
Written comments accepted until May 27, 2011.