State of Connecticut Department of Banking

The Department of Banking News Bulletin 

Bulletin # 2233
Week Ending December 8, 2006

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 Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. 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 Financial Institutions Division, (860) 240-8180.

Date Bank Location Activity
11/09/06
Salisbury Bank and Trust
  Company, Salisbury
One Pathmark Plaza
Mount Vernon, New York  10550
notice of
proposed
closing
received
12/04/06
Northwest Community
  Bank, Winsted
FROM: 141 Albany Tnpk
         Foothills Plaza, Rt. 44
         New Hartford, CT 06057
TO:    141-167 Albany Tnpk
         Foothills Plaza, Rt. 44
         New Hartford, CT 06057
approved
to
relocate

MERGER
On December 7, 2006, pursuant to Sections 36a-412(b) and 36a-125 of the Connecticut General Statutes, the Commissioner approved the merger of Westbank with and into NewAlliance Bank, the resulting entity to operate as a capital stock savings bank under the name NewAlliance Bank.

NEW BANK ACTIVITY

On December 8, 2006, pursuant to Section 36a-70 of the 2006 Supplement to the General Statutes, an application was filed by the organizers of The Bank of Fairfield for the establishment of a bank and trust company to be located in Fairfield, Connecticut.  The organizers are Frederick Afragola and Peter Kirk.  Spokesperson:  Frederick Afragola, (203) 972-3838.

INTEREST RATE TO BE PAID ON CLAIMS FOR PROPERTY, FUNDS OR MONEY
DELIVERED TO THE STATE TREASURER PURSUANT TO
SECTION 3-57a(a)(1) or (2), MORTGAGE ESCROW ACCOUNTS,
PUBLIC SERVICE COMPANY, CERTIFIED TELECOMMUNICATIONS PROVIDER
AND ELECTRIC SUPPLIER CUSTOMER SECURITY DEPOSITS
AND TENANT SECURITY DEPOSITS
In accordance with Sections 3-70a(e), 16-262j(d), 47a-21(i)(2) and 49-2a(c) of the Connecticut General Statutes, the deposit index for calendar year 2007 is 0.94%. However, Sections 3-70a(e), 16-262j(c), 47a-21(i)(1) and 49-2a(a) provide that in no event shall the rate be less than 1.5%.  Therefore, the interest rate to be paid on claims for property, funds or money delivered to the State Treasurer pursuant to Section 3-57a(a)(1) or (2), and mortgage escrow accounts, public service company, certified telecommunications provider and electric supplier customer security deposits and tenant security deposits is 1.5% for the period commencing January 1, 2007 and ending December 31, 2007.

CONVERSION
On December 5, 2006, pursuant to section 36a-468b of the Connecticut General Statutes, Hartford Healthcare Credit Union, Inc., Hartford, filed an application to convert from a Connecticut credit union to a federal credit union.

       Dated:  Tuesday, December 12, 2006
       Howard F. Pitkin
       Banking Commissioner