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Section 36a-145 of the Connecticut General Statutes requires certain applications 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 December 23, 2009, pursuant to Section 36a-185 of the Connecticut General Statutes, the Commissioner issued a notice of intent not to disapprove the acquisition by Alcar LLC of approximately 91 percent of the voting securities of Darien Rowayton Bank, the indirect acquisition by Gary Lieberman of more than 25 percent of the voting securities of Darien Rowayton Bank and the indirect acquisition by The Robert Hirt and Tracey Najarian Hirt Revocable Living Trust of more than 10 percent of the voting securities of Darien Rowayton Bank.

On December 23, 2009, pursuant to Sections 36a-125 and 36a-126 of the Connecticut General Statutes, Union Savings Bank, a Connecticut-chartered mutual savings bank, and The First National Bank of Litchfield, a national bank and wholly-owned subsidiary of First Litchfield Financial Corporation, a Delaware corporation, filed an application for the merger of The First National Bank of Litchfield with and into Union Savings Bank. 

On December 14, 2009, the Commissioner issued an Order Revoking and Refusing to Renew Mortgage Broker License and Order to Cease and Desist (“Order”) in the Matter of:  Civic Mortgage Group, Inc. (“Respondent”).  The Order revokes and refuses to renew Respondent’s mortgage broker license at 128 Dorrance Street, Suite 550, Providence, Rhode Island, and orders Respondent to cease and desist from violating Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 09-209.  The Order was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492 of the Connecticut General Statutes, as amended.  A copy of the Order can be obtained from the Department’s website.

On December 14, 2009, the Commissioner entered into a Settlement Agreement and Withdrawal of Order of Summary Suspension with Eagle Mortgage Lending, LLC d/b/a Eagle Financial Lending (“Eagle Mortgage”).  On August 25, 2009, as a result of an investigation, the Commissioner alleged in a Temporary Order to Cease and Desist, Order of Summary Suspension, Notice of Intent to Revoke and Refuse to Renew Mortgage Broker License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing that Eagle Mortgage, in violation of Section 36a-492(a) of the Connecticut General Statutes, failed to maintain a surety bond that ran concurrent with its license to act as a mortgage broker in Connecticut from 800 Summer Street, Suite 210, Stamford, Connecticut.  The Settlement Agreement and Withdrawal of Order of Summary Suspension was based on Eagle Mortgage having filed a replacement bond.  A copy of the Settlement Agreement can be obtained from the Department’s website.

On December 14, 2009, the Commissioner issued an Order Revoking Mortgage Broker License and Order to Cease and Desist (“Order”) in the Matter of:  Newtown Mortgage Corporation (“Respondent”).  The Order revokes Respondent’s mortgage broker license at 13532 Old Statesville Road, Huntersville, North Carolina, and orders Respondent to cease and desist from violating Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 09-209.  The Order was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492 of the Connecticut General Statutes, as amended.  A copy of the Order can be obtained from the Department’s website.