In accordance with Governor Lamont's emergency declaration, employees and the public are asked to observe social distancing measures to ensure communal safety and to slow the spread of the novel coronavirus (COVID-19). People are asked to work from home and telecommute wherever possible. Adhering to these instructions, the Department of Banking has closed its offices to the public. However, agency staff will continue to provide services to consumers and industry through telework. When contacting the Department, please use electronic communication whenever possible. Agency staff will continue to check voicemails during this time. 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 # 2878 - Week Ending April 19, 2019


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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten business days from the date of this bulletin.



Branch Activity

Section 36a-145 of the Connecticut General Statutes requires certain applications for a branch or limited branch at which loans will be made, address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage.  Plans are submitted when such applications are filed and are available for public inspection and comment at the Department for a period of 30 days.  Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.

DATE:  April 18, 2019
BANK:  Essex Savings Bank, Essex
LOCATION:  176 Westbrook Road, Suite 1, Essex, CT  06426
ACTIVITY-BRANCH TYPE:  Approved to Establish - Limited Branch

Interstate Loan Production Office

On April 18, 2019, the Commissioner approved the application of Magnolia Bank, Inc., a Kentucky-chartered community bank, to establish a loan production office in Connecticut pursuant to Section 36a-412(d) of the Connecticut General Statutes.  The office will be located at 53 East Avenue, Suite 2 in Norwalk, Connecticut.  In connection with opening this office, Magnolia Bank, Inc. plans to close its loan production office at 94 East Avenue in Norwalk, Connecticut.



Field of Membership Amendment

On April 18, 2019, the Commissioner approved the application of American Eagle Financial Credit Union, Inc. to amend its bylaws pursuant to Section 36a-437a(h)(3) of the Connecticut General Statutes to expand its field of membership to include Hampden County, Massachusetts.



      Dated: Tuesday, April 23, 2019


      Jorge L. Perez
      Banking Commissioner