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 # 1907
Week Ending September 8, 2000

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
9/07/00 Naugatuck Savings Bank
24 Waterbury Road
Prospect, CT 06712
9/08/00 Liberty Bank
*548 Main Street
  Middletown, CT 06457
9/08/00 Citizens Bank
   of Connecticut
New London
**90 State House Square
    Hartford, CT 06103
* Limited Branch
** Limited Branch - Loan Production Office


The Securities and Business Investments Division, in conjunction with the Securities Advisory Council to the Department, is sponsoring its twelfth annual Securities Forum conference on Monday, October 2, 2000 at the Radisson Hotel and Conference Center in Cromwell, Connecticut. An outstanding agenda of panel presentations will help banks, credit unions, broker-dealers, investment advisers and other financial industry professionals keep abreast of the very latest in regulatory developments. Senator Chris Dodd, invited subject to Senate business, and Deborah Bortner, incoming president of the North American Securities Administrators Association, are slated to present keynote addresses. Securities Forum 2000 registration includes course materials and a luncheon. For further information, visit the department's web site or call the agency at (860) 240-8170.


Pursuant to Section 36a-70 of the Connecticut General Statutes, on September 7, 2000 a temporary certificate of authority was issued to the organizers of The Bank of Southern Connecticut, 215 Church Street, New Haven, CT 06511, for the purpose of conducting the business of a state bank and trust company in New Haven, Connecticut.


On September 12, 2000, the hearing on the application to organize Connecticut River Community Bank, Wethersfield, as a Connecticut bank, originally scheduled for September 26, 2000, was continued to September 28, 2000 at 1:30 p.m. in Room 50 of the Department of Banking, 260 Constitution Plaza, Hartford, Connecticut.

Field of Membership

Pursuant to subsections (g) and (h) of Section 36a-437 of the Connecticut General Statutes, on September 5, 2000, Northwest Hills Credit Union, Inc., Torrington, Connecticut, requested approval to amend its certificate of organization and bylaws to expand its field of membership to include persons who live, worship, go to school or work in Torrington, Connecticut.


On September 8, 2000, The Prudential Insurance Company of America, a New Jersey corporation, filed applications to establish offices of its subsidiary, Prudential Securities Incorporated, a Delaware corporation, at the following Connecticut locations: Lee Farm Corporate Park, 83 Wooster Heights Road, Danbury; CityPlace II, Concourse Level, 185 Asylum Street, Hartford; 157 Church Street, 11th Floor, New Haven; 210 Main Street, Building 1, Suite 2, Old Saybrook; 35 37 Danbury Road, Ridgefield; 177 Broad Street, 11th Floor, Stamford; and One Morningside Drive, Westport.


On September 5, 2000, approval was granted to Citigroup, Inc., a Delaware corporation, to establish an office of its subsidiaries, CitiFinancial, Inc., a Maryland corporation, and CitiFinancial Services, Inc., a Delaware corporation, at 113 Salem Turnpike, Norwich, Connecticut.

On September 5, 2000, approval was granted to Union Bankshares Corporation, a Virginia corporation, to establish an office of its subsidiary, Mortgage Capital Investors, Inc., a Virginia corporation, at 2600 Post Road, Southport, Connecticut.

On September 6, 2000, approval was granted to Dime Bancorp, Inc., a Delaware corporation, to establish an office of its subsidiary, North American Mortgage Company, d/b/a LendEver Home Loans, d/b/a Dime Correspondent, a Delaware corporation, at 1234 Summer Street, Stamford, Connecticut.

Dated: Tuesday, September 12, 2000

John P. Burke
Banking Commissioner