Bulletin # 3102 - Week Ending August 4, 2023

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.

BANK ACTIVITY 

Section 36a-145 of the Connecticut General Statutes requires that certain applications for a branch or limited branch at which loans will be made address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage. Plans may be submitted when such applications are filed and any plans that are filed will be made available for public inspection and comment at the Department for a period of 30 days. Questions concerning branch activity should be directed to the Financial Institutions Division at (860) 240-8180.

Branch Activity

DATE: August 1, 2023 
BANK: The Milford Bank, Milford 
LOCATION: 295 Boston Post Road, Milford, CT 
ACTIVITY-BRANCH TYPE: Filed Notice of Branch Closing 
PROPOSED CLOSING DATE: November 10, 2023

Interstate Loan Production Office

On August 3, 2023, the Commissioner approved the application of Berkshire Bank, a Massachusetts-chartered bank, to establish a loan production office in Connecticut pursuant to Section 36a-412(d) of the Connecticut General Statutes. The office will be located at 1429 Park #114 Street in Hartford, Connecticut. The anticipated opening date is for August of 2023.

STATE CREDIT UNION ACTIVITY 

Main Office Activity

DATE: July 31, 2023
CREDIT UNION: Connex Credit Union, North Haven
LOCATION:  FROM: 412 Washington Avenue, North Haven, CT 
TO:  404 Washington Avenue, North Haven, CT 
ACTIVITY-BRANCH TYPE:  Filed to Relocate Main Office

Merger

On August 1, 2023, the Commissioner approved the merger of McKesson Federal Credit Union, a federal credit union, with and into Sikorsky Financial Credit Union, a Connecticut credit union, pursuant to Section 36a-468a of the Connecticut General Statutes. The proposed effective date of the merger is September 30, 2023.

CONSUMER CREDIT ACTIVITY

Consent Order

On July 31, 2023, the Commissioner entered into a Consent Order with Mortgage Trust, Inc. (NMLS # 3250) (“Mortgage Trust”), Portland, Oregon. The Commissioner alleged that Mortgage Trust failed to file with the Nationwide Multistate Licensing System and Registry a change of address of its main office at least thirty (30) calendar days prior to such change and failed to provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner, in violation of Section 36a-490(b)(2) of the Connecticut General Statutes. As part of the Consent Order, Mortgage Trust paid $500 as a civil penalty.