The Department of Banking News Bulletin
Bulletin # 2581
Week Ending August 9, 2013
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
Branch Activity
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.
8/5/13 |
Salisbury Bank and Trust Company
Lakeville, CT |
210 Main Street
Great Barrington, MA 01230 |
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Merger
On August 2, 2013, The Bank of New Canaan, a Connecticut-chartered bank and trust company and wholly-owned subsidiary of BNC Financial Group, Inc., a Connecticut corporation, and The Wilton Bank, a Connecticut-chartered bank and trust company, filed a community reinvestment plan that is available for public inspection and comment at the Department of Banking for a period of 30 days. The filing was made in connection with an application for the merger of The Wilton Bank with and into The Bank of New Canaan that was filed on August 2, 2013, pursuant to Section 36a-125 of the Connecticut General Statutes, and was posted in Bulletin #2580 for the week ending August 2, 2013.
Out-of-State Trust Company
On August 7, 2013, pursuant to Section 36a-434a of the Connecticut General Statutes, the Commissioner granted approval for Chilton Trust Company, LLC, a non-deposit trust company chartered in Florida, to establish an office at 1290 East Main Street, Stamford, Connecticut, to engage in limited fiduciary activities.
Change of Name
On August 8, 2013, pursuant to Section 36a-82 of the Connecticut General Statutes, Naugatuck Savings Bank, Naugatuck, Connecticut, filed an application with the Commissioner to change its name to Ion Bank. Written objections to such application may be made, for a period of 30 days from the date of publication of this Bulletin, on the grounds that the name selected will tend to confuse the public.
CONSUMER CREDIT DIVISION ACTIVITY
Consent Order
On July 1, 2013, the Commissioner entered into a Consent Order with Priority Mortgage Group, Inc. (NMLS # 4040) (“Priority Mortgage Group”), Stratford, Connecticut. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, on March 27, 2013, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing. The Commissioner alleged that Priority Mortgage Group failed to timely file certain annual and quarterly information required by mortgage call reports in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes in effect prior to October 1, 2012, and Section 36a-534b(c)(3) of the Connecticut General Statutes. As part of the Consent Order, Priority Mortgage Group paid $2,500 as a civil penalty.
Temporary Order to Cease and Desist, Order to Make Restitution, Notice of Intent
to Issue Order to Cease and Desist and Notice of Intent to Impose Civil Penalty