Bulletin # 3049 - Week Ending July 29, 2022

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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten business days from the date of this bulletin.

STATE BANK ACTIVITY

Withdrawal of Acquisition Statement

On July 26, 2022, Felix Scherzer, Scherzer Capital, LLC, a Delaware limited liability corporation, and the Scherzer Family Trust, an irrevocable inter vivos trust created under the laws of the State of New York, withdrew their acquisition statement to acquire more than 10% of the voting securities of Patriot Bank, N.A., a national bank headquartered in Stamford, Connecticut.

CREDIT UNION ACTIVITY

Interstate Branch Activity

On July 29, 2022, the Commissioner approved the application of Freedom Credit Union, a Massachusetts-chartered credit union, to establish a branch in Connecticut pursuant to Section 36a-462b(a) of the Connecticut General Statutes. The branch will be located at 115 Elm Street, Unit 214, in Enfield, Connecticut. The anticipated opening date is August 2022.

Merger

On July 25, 2022, the Commissioner approved the merger of New London Municipal Employees Credit Union, a Connecticut credit union, with and into Scient Federal Credit Union, a federal credit union, pursuant to Section 36a-468a of the Connecticut General Statutes with the resulting credit union to operate as a federal credit union. The merger is anticipated to take place in August 2022.