The Department of Banking News Bulletin 

Bulletin # 2311
Week Ending June 6, 2008

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.

State Bank Activity
Section 36a-145 of the 2008 Supplement to the 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
Castle Bank and Trust
FROM:  852 East Main St.
           Meriden, CT 06450
TO:     1295 East Main St.
           Meriden, CT 06450
to relocate
Newtown Savings Bank
*  Newtown High School
    12 Berkshire Road
    Sandy Hook, CT  06482
* special needs limited branch

State Credit Union Activity

Date Credit Union Location Activity
Mutual Security Credit Union
54 Gillotti Road
New Fairfield High School
New Fairfield, CT 06812

On June 2, 2008, pursuant to Section 36a-81 of the Connecticut General Statutes, Castle Bank and Trust Company, Meriden, received approval to relocate its main office from 100 Hanover Street, Meriden, to 1295 East Main Street, Meriden.
On June 2, 2008, pursuant to Section 36a-145(c)(3) of the 2008 Supplement to the General Statutes, Fairfield County Bank, Ridgefield, filed an application for the conversion of a full-service branch located at 457 Main Street, Suite 3A, Danbury, to a limited service branch, to be operated as a loan production office, at the same address.
Order to Cease and Desist, Notice of Intent to Fine
and Notice of Right to Hearing
On May 30, 2008, the Banking Commissioner entered an Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing against Java’s Brewin Development, Inc.  of 290 Turnpike Road, Suite 6, #367, Westborough, Massachusetts.  The action alleged that, from at least October 16, 2006 to January 26, 2007, the respondent sold unregistered coffee shop business opportunities to at least three Connecticut purchaser-investors in contravention of Section 36b-67 of the Connecticut Business Opportunity Investment Act.   The respondent was afforded an opportunity to request a hearing on the Order to Cease and Desist.  A hearing on the Notice of Intent to Fine has been scheduled for July 15, 2008.
Consent Order
On June 3, 2008, the Banking Commissioner entered a Consent Order with respect to Jeffrey Alan Cohan, a registered broker-dealer agent.  The Consent Order alleged that, while associated with his former broker-dealer, Buell Securities Corp., Jeffrey Cohan 1) violated Section 36b-16 of the Connecticut Uniform Securities Act by executing seventeen transactions in the unregistered securities of Lakota Resources, Inc.; and 2) violated Section 36b-31-6e of the Regulations under the Act by engaging in a private securities transaction without notice to his employing firm.   The Consent Order directed Jeffrey Cohan to 1) refrain from exercising discretionary trading authority over client funds, securities or accounts for three years; 2) limit his securities sales activity to investment company securities and exchange-listed securities for a three year period; 3) comply in all respects with Section 36b-31-6e of the Regulations; and 4) pay a $5,000 fine to the department.
       Dated:  Tuesday, June 10, 2008
       Howard F. Pitkin
       Banking Commissioner