Bulletin 3254 - July 3, 2026
The Department of Banking News Bulletin
Bulletin # 3254 - Week Ending July 3, 2026
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 directed to Jorge L. Perez, Banking Commissioner. Written comments will be considered only if they are received within ten business days from the date of this bulletin.
BANK ACTIVITY
Branch Activity
On July 2,2026, Ives Bank, headquartered in Danbury, Connecticut, filed an application to establish a branch at 326 Highland Ave, Waterbury, Connecticut pursuant to Connecticut General Statues section 36a-145(b)(1). The proposed opening date is November 1, 2026. Questions or comments regarding the application can be sent to the Financial Institutions Division at 860-240-8114.
On July 1, 2026, Ives Bank, headquartered in Danbury, Connecticut submitted notification of its intention to close the office at 357 Bank Street, Waterbury, Connecticut. The proposed closing date is November 1, 2026. Questions or comments regarding the application can be sent to the Financial Institutions Division at 860-240-8114.
CREDIT UNION ACTIVITY
Branch Activity
On July 1, 2026, the Commissioner approved an application from Dutch Point Credit Union, headquartered in Wethersfield, Connecticut to establish a branch at 809 Washington Street, Middletown, Connecticut pursuant to Connect General Statutes section 36a-462a(a)(1). The proposed opening date is the second quarter of 2028.
OTHER FINANCIAL INSTITUTION ACTIVITY
Out-of-State Trust Company
On June 30, 2026, the Commissioner approved an application from First Manhattan Trust Company, LLC, a New Hampshire chartered non-depository trust company with a principal office in Portsmouth, New Hampshire to establish a trust office at 80 Field Road, Greenwich, Connecticut pursuant to Connecticut General Statues section 36a-434a. The anticipated opening date is third quarter 2026.
Foreign Bank Representative Office
On July 2, 2026, the Commissioner approved an application from National Westminster Bank Plc, a United Kingdom based bank, to establish a representative office in Stamford Connecticut pursuant to Connecticut General Statues section 36a-428g.
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Worcester County Fiduciary Advisors, Inc. d/b/a Worcester Advisors
(IARD No. 106653)
On June 29, 2026, the Banking Commissioner entered into a Stipulation and Agreement (No. ST 26 20266-S) with Worcester County Fiduciary Advisors, Inc. d/b/a Worcester Advisors (“Worcester Advisors”), a Massachusetts registered investment adviser having its principal place of business at 446 Main Street, Worcester, Massachusetts, 01608.
The Stipulation and Agreement alleged that the Worcester Advisors violated Section 36b-6(c)(1) of the Connecticut Uniform Securities Act (“Act”) by conducting unregistered investment adviser activity in Connecticut without being registered as an investment adviser under the Act. Worcester Advisors has since cured the registration deficiency.
In resolution of the matter, Worcester Advisors agreed to refrain from conduct that violates the Act and to pay $3,400 to the Department of Banking. Of that amount, $2,500 constituted an administrative fine and $930 represented payment of past due investment adviser registration fees.
Dated: Tuesday, July 7, 2026
Jorge L. Perez
Banking Commissioner