FirstFed said Mans stockholders electing to receive inventory rather exceeded those people electing for bucks planning

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FirstFed said Mans stockholders electing to receive inventory rather exceeded those people electing for bucks planning

Investors and you can Regulators Approve Merger On erica Bancorp, Inc., Swansea, MA, and you will Man’s Bancshares, Inc., The Bedford, MA, acknowledged brand new selling of Mans to help you FirstFed. The deal is expected to close off during the first quarter.

To your February 20, work away from Thrift Oversight (OTS) together with Massachusetts Board out of Bank Incorporation recognized the latest merger between FirstFed America Bancorp, Inc., having Man’s Bancshares, Inc., The latest Bedford, MA.

Thus, People’s shareholders which picked to receive FirstFed inventory will receive an excellent combination of 0.73 express of FirstFed preferred stock and $nine.34 for every single express from Mans possessed. Every other investors gets a money commission off $twenty-two for every display of Mans common stock they hold. Since ,

NE Nonbanking Interest With the February 20, Northeast Lender, FSB, Auburn, Myself, through its part, Northeast Financial Attributes, Inc

FirstFed The united states Bancorp had overall deposits out-of $563.8 million and you may ranked 33rd certainly most of the commercial financial and you will thrift organizations in Massachusetts. As of an identical time, People’s Bancshares had overall dumps out of $582.step 3 billion and you can rated 32nd. (SNL Bank , Thrift A week, 2/11; 2/)

Banknorth Will get FHC Into the age a monetary holding providers, just after putting on Federal Reserve Lender out-of Boston approval. (Strategies by the Panel, 1/)

Department Address Changes Towards erican Bank and you may Trust Company relocated its chief workplace away from 1151 Stratford Method, Stratford, CT, so you’re able to 132 Huge Street, Waterbury, CT. (Condition out-of CT DOB Information Bulletin, 2/) People into the Prevent , Shop Branch Transactions On January seven, this new Massachusetts Department regarding Banking companies (MA DOB) acknowledged the applying because of the Customers Bank off Massachusetts, Boston, MA, to ascertain 18 department offices inside Prevent , Store Super markets located in the Massachusetts places out of Allston, Beverly, Brockton, Eastern Springfield, Slip River, Lynn, Malden, Medford, Milford, Natick, The Bedford, Quincy, Raynham, Somerset, Stoughton, Watertown (2), and Western Springfield. The newest spaces are part of a wide Citizens plan to open Stop , Store branches during the The latest England; the school opened 22 Massachusetts branches ranging from , and you may 20 Rhode Isle twigs into .

On January 25, brand new MA DOB acknowledged the applying of the Residents Bank off Massachusetts to close off the branch workplace located in Shaw’s Supermarket, 780 Southern area Main Highway, Sharon, MA. (County out of MA DOB See, 1/)

Bank RI to ascertain Twigs To your January 29, Bank Rhode Area, Providence, RI, a part off Bancorp Rhode Island, Inc., Providence, RI, launched that it’ll include three the new twigs regarding county next season and certainly will boost its full personnel of the 15%. (SNL Lender , Thrift Weekly, 2/4/02)

Financial of the latest Canaan Applies having Deposit Insurance coverage On March 4, Lender of brand new Canaan recorded an application having deposit insurance rates with this new Federal Put Insurance coverage Corp (FDIC) trying to jobs just like the a professional bank inside the Brand new Canaan, CT. In addition to The fresh new Canaan, the fresh new de novo business “needs in order to derive a modest number of banking business” out-of Darien, CT, and you may “this new Silvermine” part of Norwalk, CT, and also the “bordering New york neighborhood of Pound Ridge.” This new bank’s organizers authored in the application why these locations is actually already underserved, and you can cited the new quick speed from consolidation when you look at the Connecticut too while the forty bank disappointments on county since the 1990. (SNL Bank , Thrift Each week, 2/)

Upon end of your own merger, Mans would-be blended toward FirstFed and People’s equipment, Man’s Deals Financial from Brockton, South Easton, MA, might be matched toward FirstFed equipment Very first Federal Discounts Bank out of The usa, Fall Lake, MA

, gotten Kendall Insurance coverage, Inc., Bethel, Myself, for $569,564. Northeast Financial, FSB is actually a part away from Northeast Bancorp, Auburn, Me personally. (SNL Every single day ThriftWatch, 2/)