The Department of Banking News Bulletin

Bulletin # 1812
Week Ending November 13, 1998

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 john.burke@ct.gov. Written comments will be considered only if they are received within ten days from the date of this bulletin.

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.  Bank Examination Division, (860) 240-8183 or via E-mail to glenn.hayes@ct.gov. Note: dates are listed in month/day/year format.

On November 12, 1998, approval was granted, pursuant to Sections 36a-412(a)(2), as amended by Public Acts 98-58 and 98-177, and 36a-145(c)(1) of the Connecticut General Statutes, to Citibank, N.A., to establish a de novo branch, the activities of which are limited to the exercise of fiduciary powers, at 100 First Stamford Place, Stamford, Connecticut.

On November 12, 1998, pursuant to Section 36a-411 of the Connecticut General Statutes, the Banking Commissioner approved the application filed by Peoples Heritage Financial Group, Inc. and Peoples Heritage Merger Corp., to acquire and retain the ownership or control of 100% of the issued and outstanding voting stock of Glastonbury Bank & Trust Company. The Commissioner also issued, pursuant to Section 36a-185 of the Connecticut General Statutes, a notice of intent not to disapprove the acquisition by Peoples Heritage Financial Group, Inc. of 100% of the beneficial ownership of the voting securities of SIS Bancorp, Inc., and, indirectly, of Glastonbury Bank & Trust Company.

On November 12, 1998, Hudson United Bank, in connection with an application filed on November 4, 1998, pursuant to Section 36a-412(a)(1) of the Connecticut General Statutes, as amended by Public Act 98-177, filed a community reinvestment plan which is available for public inspection and comment at the Department of Banking for a period of 30 days.