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 Department.Banking@ct.gov and it will be routed appropriately. Thank you for your patience during this time.

The Department of Banking News Bulletin 

Bulletin # 2882 - Week Ending May 17, 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.

 

STATE BANK ACTIVITY

Branch Activity

DATE: May 15, 2019

BANK: The Simsbury Bank & Trust Company, Simsbury

LOCATION: 782 Park Avenue, Bloomfield, CT 06002

ACTIVITY-BRANCH TYPE: Filed to Establish Full Service Branch

 

DATE: May 15, 2019

BANK: The Simsbury Bank & Trust Company, Simsbury

LOCATION: 864 Cottage Grove Road, Bloomfield, CT 06002

ACTIVITY-BRANCH TYPE: Notice of Planned Closing of Branch

 

Acquisition and Merger

 

On May 15, 2019, the Commissioner approved the acquisition by Berkshire Hills Bancorp, Inc., a bank holding company headquartered in Boston, MA, of SI Financial Group, Inc., a bank holding company headquartered in Willimantic, CT, and issued a notice of intent not to disapprove the acquisition pursuant to Sections 36a-411 and 36a-185 of the Connecticut General Statutes. Also on May 15, 2019, the Commissioner approved the merger of Savings Institute Bank and Trust Company, a Connecticut bank headquartered in Willimantic, CT and wholly-owned subsidiary of SI Financial Group, Inc., with and into Berkshire Bank, a Massachusetts trust company and wholly-owned subsidiary of Berkshire Hills Bancorp, Inc., pursuant to Section 36a-412(a)(1) of the Connecticut General Statutes.

 

STATE CREDIT UNION ACTIVITY

Main Office Relocation

 

On May 15, 2019, the Commissioner approved the application of Nutmeg State Financial Credit Union to relocate its main office from 520 Cromwell Avenue, Rocky Hill, Connecticut, to 500 Enterprise Drive, Rocky Hill, Connecticut pursuant to Section 36a-463b of the Connecticut General Statutes.

 

Branch Activity

 

DATE: May 15, 2019

CREDIT UNION: Nutmeg State Financial Credit Union, Rocky Hill

LOCATION: FROM: 521 Cromwell Avenue, Rocky Hill, CT 06067

TO: 520 Cromwell Avenue, Rocky Hill, CT 06067

ACTIVITY:  Approved to Relocate Branch


CONSUMER CREDIT DIVISION ACTIVITY

Consent Order

 

On May 9, 2019, the Commissioner entered into a Consent Order with AmeriFinancial Solutions, LLC (NMLS # 1142710) (“AFS”), Owings Mills, Maryland. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that between January 1, 2017 and April 12, 2018, AFS acted as a consumer collection agency without the requisite license, in violation of Section 36a-801(a) of the Connecticut General Statutes or Section 36a-801(a) of the 2018 Supplement to the General Statutes. As part of the Consent Order, AFS paid $10,000 as a civil penalty and $400 for back licensing fees.

 

 

      Dated: Tuesday, May 21, 2019

 

      Jorge L. Perez
      Banking Commissioner