State of Connecticut Department of Banking

The Department of Banking News Bulletin 

Bulletin # 2240
Week Ending January 26, 2007

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
1/05/07
Citizens Bank of Connecticut
New London
One Mohegan Sun Boulevard
Uncasville, CT  06382
opening
date

ACQUISITION
On January 23, 2007, pursuant to Section 36a-184 of the Connecticut General Statutes, New England Bancshares, Inc., a Connecticut holding company, and New England Bancshares Acquisition, Inc., a Connecticut corporation and wholly-owned subsidiary of New England Bancshares, Inc., filed an acquisition statement to acquire 100% of the issued and outstanding common stock of First Valley Bancorp, Inc., a Connecticut corporation, and indirectly Valley Bank, a Connecticut bank.  The acquisition will take place through the merger of First Valley Bancorp, Inc., with and into New England Bancshares Acquisition, Inc., and the subsequent merger of New England Bancshares Acquisition, Inc., with and into New England Bancshares, Inc.
       Dated:  Tuesday, January 30, 2007
       Howard F. Pitkin
       Banking Commissioner