The Department of Banking News Bulletin
Bulletin # 2011
Week Ending September 6, 2002
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, Commissioner of Banking, 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.
BRANCH ACTIVITY
State Bank 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 |
|---|---|---|---|
| 8/29/02 | Tolland Bank Vernon |
73 Hazard Avenue Enfield, CT 06082 |
approved |
| 9/04/02 | The Dime Savings Bank of Norwich |
131 & 135 Franklin Street Westerly, RI 02891 |
filed |
| 9/04/02 | Northern Trust Company of Connecticut, Stamford |
580 California Street, # 1300 San Francisco, CA 94104 |
filed |
| 9/06/02 | People's Bank Bridgeport |
FROM: 81 Fairfield Road
Storrs, CT 06269
TO: 2075 Hillside Road Storrs, CT 06269 |
approved to relocate |
MAIN OFFICE RELOCATION
On September 3, 2002, pursuant to Section 36a-81 of the Connecticut General Statutes, The Bank of New Canaan received approval to relocate its main office from 156 Cherry Street, New Canaan, Connecticut, to 208/212 Elm Street, New Canaan, Connecticut.
MONEY ORDER AND TRAVELERS CHECK LICENSE ACTIVITY
On September 3, 2002, pursuant to Section 36a-600 of the Connecticut General Statutes, as amended by Public Act 01-56, PayPal, Inc. received approval to engage in the business of money transmission.
REORGANIZATION INTO A MUTUAL HOLDING COMPANY
On September 6, 2002, pursuant to Section 36a-192 of the Connecticut General Statutes, Putnam Savings Bank, Putnam, Connecticut, a mutual savings bank, filed an application to reorganize as a mutual holding company, and pursuant to Section 36a-198 of the Connecticut General Statutes, as amended by P.A. 02-47, for the establishment of a subsidiary holding company to be known as PSB Holdings, Inc.
EFFECTIVE REGULATIONS
Effective September 6, 2002, Sections 36a-428c-1, 36a-428c-4 and 36a-428c-6 of the Department's foreign bank regulations concerning the asset pledge requirements applicable to state branches and state agencies of foreign banks in Connecticut have been amended to ensure that there are adequate assets available for creditors in the event of liquidation based on a supervisory assessment of risk factors. A copy of the final regulations can be obtained by contacting the Legal Division at (860) 240-8142 and are available on the Department's website.
John P. Burke
Commissioner