The Department of Banking News Bulletin 

Bulletin # 2102
Week Ending June 4, 2004

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

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 Financial Institutions Division, (860) 240-8180.

On June 3, 2004, pursuant to Section 36a-581 of the Connecticut General Statutes, Check Stop of Connecticut, LLC received approval to operate a check cashing service general facility at 309 Grand Avenue, New Haven, Connecticut.

MAIN OFFICE RELOCATION

On June 1, 2004, pursuant to Section 36a-70(k)(1) of the Connecticut General Statutes as amended by Public Act 04-136, Higher One Bank (In Organization) filed an application to change the location where its main office is to be located from 122 Court Street, New Haven, Connecticut, to 25 Science Park, New Haven, Connecticut.

MERGER

On June 1, 2004, pursuant to Section 36a-125 of the Connecticut General Statutes, as amended by Public Act 03-259, approval was granted for the merger of Bank of Westport with and into Fairfield County Bank Corp., the resulting bank to operate as a mutual savings bank under the name of Fairfield County Bank Corp.

CONVERSION & ACQUISITION

On June 4, 2004, pursuant to Section 36a-137 of the Connecticut General Statutes, as amended by Public Act 03-259, approval was granted to Savings Institute to convert from a capital stock Connecticut bank to a capital stock federal savings bank to be known as Savings Institute Bank and Trust Company. Also on June 4, 2004, pursuant to Section 36a-185 of the Connecticut General Statutes, as amended by Public Act 03-259, the Commissioner issued a notice of intent not to disapprove the acquisition by SI Financial Group, Inc., and SI Bancorp, MHC of 100 percent of the voting securities of Savings Institute immediately following the conversion.

CONVERSION

On June 3, 2004, pursuant to Section 36a-135 of the Connecticut General Statutes, as amended by Public Act 03-259, Naugatuck Valley Savings and Loan, S.B., Naugatuck, Connecticut, filed an application to convert from a Connecticut mutual savings bank to a federal mutual savings bank to be known as Naugatuck Valley Savings and Loan.