Investors and you can Government Agree Merger Towards the erica Bancorp, Inc., Swansea, MA, and you will People’s Bancshares, Inc., New Bedford, MA, acknowledged this new purchases out of People’s so you’re able to FirstFed. The offer is anticipated to close from inside the basic quarter.
Towards February 20, the office out of Thrift Oversight (OTS) while the Massachusetts Board out of Lender Incorporation accepted new merger between FirstFed America Bancorp, Inc., with Mans Bancshares, Inc., The latest Bedford, MA.
This is why, Mans investors exactly who select for FirstFed stock gets a great mix of 0.73 show of FirstFed common inventory and you may $nine.34 each express off Mans possessed. Any investors get a cash payment from $22 each display away from Man’s common stock they hold. By ,
NE Nonbanking Craft On the March 20, Northeast Bank, FSB, Auburn, Me personally, through its subsidiary, Northeast Financial Properties, Inc
FirstFed America Bancorp got overall deposits of $563.8 mil and you can ranked 33rd among most of the commercial banking and thrift institutions during the Massachusetts. By a similar time, People’s Bancshares had total dumps out of $582.3 billion and ranked 32nd. (SNL Financial , Thrift Weekly, 2/11; 2/)
Banknorth Becomes FHC To your elizabeth a financial carrying company, once wearing Federal Set-aside Lender out-of Boston approval. (Tips by the Board, 1/)
Branch Target Change https://paydayloanservice.org/payday-loans-ri/ To your erican Lender and you will Trust Organization relocated the main office of 1151 Stratford Avenue, Stratford, CT, to help you 132 Grand Path, Waterbury, CT. (Condition out of CT DOB Information Bulletin, 2/) Customers in the Prevent , Store Part Deals Towards the January eight, the brand new Massachusetts Section regarding Financial institutions (MA DOB) accepted the applying from the Residents Lender of Massachusetts, Boston, MA, to ascertain 18 branch offices in this Stop , Store Food markets located in the Massachusetts cities out-of Allston, Beverly, Brockton, East Springfield, Slip Lake, Lynn, Malden, Medford, Milford, Natick, Brand new Bedford, Quincy, Raynham, Somerset, Stoughton, Watertown (2), and you will Western Springfield. The latest openings are part of a wider People propose to unlock Avoid , Store branches when you look at the New England; the school launched twenty-two Massachusetts branches ranging from , and you may 20 Rhode Area twigs toward .
On January 25, the fresh MA DOB approved the program by the Citizens Financial regarding Massachusetts to close off their department work environment located in Shaw’s Supermarket, 780 Southern Chief Roadway, Sharon, MA. (County of MA DOB Observe, 1/)
Lender RI to determine Branches Toward January 31, Bank Rhode Island, Providence, RI, a part out-of Bancorp Rhode Island, Inc., Providence, RI, revealed that it will put about three the latest branches about state next year and can improve the total employees by the 15%. (SNL Bank , Thrift Per week, 2/4/02)
Bank of brand new Canaan Is applicable getting Put Insurance On the March cuatro, Financial of brand new Canaan recorded an application to have put insurance policies having the brand new Federal Deposit Insurance coverage Corp (FDIC) trying work just like the a professional bank from inside the The Canaan, CT. Together with The latest Canaan, new de novo institution “wants to help you derive a moderate number of banking organization” out-of Darien, CT, and you may “the newest Silvermine” part of Norwalk, CT, as well as the “bordering Ny people off Lb Ridge.” The fresh new bank’s organizers had written about app why these avenues is actually currently underserved, and you may quoted this new fast rate of combination in the Connecticut too as 40 lender downfalls throughout the state due to the fact 1990. (SNL Lender , Thrift Per week, 2/)
Upon achievement of merger, Mans might possibly be matched on the FirstFed and People’s product, People’s Discounts Lender regarding Brockton, South Easton, MA, is matched into the FirstFed product First Government Deals Lender out-of The usa, Fall Lake, MA
, obtained Kendall Insurance, Inc., Bethel, Me personally, to possess $569,564. Northeast Bank, FSB are a subsidiary out of Northeast Bancorp, Auburn, Me personally. (SNL Every single day ThriftWatch, 2/)