To protect the health and safety of the public and our employees, the Department of Banking has limited the number of employees at our office at 260 Constitution Plaza in Hartford. When contacting the Department, please use electronic communication whenever possible. Consumers are encouraged to use our online form for complaints. If you are unsure where to send an inquiry, you may send it to and it will be routed appropriately. Thank you for your patience during this time.

The Department of Banking News Bulletin 

 Bulletin # 1850
Week Ending August 6, 1999

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to John P. Burke, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to Written comments will be considered only if they are received within ten days from the date of this bulletin.

Branch Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Bank Examination Division, (860) 240-8180.
Note: dates are listed in month/day/year format.

Date Bank Location Activity
8/02/99 People's Bank
* Edgehill
  122 Palmers Hill Road
  Stamford, CT 06902
8/02/99 People's Bank
FROM: 17 Quality Street
          Trumbull, CT 06611
TO:     40 Quality Street
          Trumbull, CT 06611
filed to
8/02/99 Bank of Westport
**180 Post Road East
   Westport, CT 06880
* Limited Branch - Special Needs
** Mobile Branch


On August 5, 1999, American Savings Bank, New Britain, Connecticut, filed an application pursuant to Section 36a-136 of the Connecticut General Statutes to convert from a mutual savings bank into a capital stock savings bank


On August 6, 1999, pursuant to Section 36a-181 of the Connecticut General Statutes, American Savings Bank, a Connecticut bank, filed an application for approval to organize a holding company, American Financial Holdings, Inc., as a Connecticut stock corporation. Pursuant to an Agreement and Plan of Reorganization filed with the application, American Financial Holdings, Inc. will acquire all of the common stock to be issued by American Savings Bank in connection with its conversion to stock form.

Dated: Tuesday, August 10, 1999

John P. Burke
Banking Commissioner