FirstFed told you Man’s stockholders electing for inventory notably exceeded men and women electing for cash said

FirstFed told you Man’s stockholders electing for inventory notably exceeded men and women electing for cash said

Shareholders and you may Government Accept Merger Toward erica Bancorp, Inc., Swansea, MA, and you will Mans Bancshares, Inc., The latest Bedford, MA, approved the revenue out-of Mans to FirstFed. The offer is expected to close for the first one-fourth.

Into the February 20, the office out-of Thrift Oversight (OTS) in addition to Massachusetts Board out of Financial Incorporation approved the fresh merger ranging from FirstFed The united states Bancorp, Inc., having Mans Bancshares, Inc., The latest Bedford, MA.

Consequently, Man’s investors whom selected to receive FirstFed inventory are certain to get an excellent mix of 0.73 display of FirstFed preferred stock and you may $9.34 per express out of People’s owned. Every other investors will have a money percentage regarding $twenty two per display of Mans preferred stock they hold. At the time of ,

NE Nonbanking Craft Toward February 20, Northeast Lender, FSB, Auburn, Myself, employing part, Northeast Financial Attributes, Inc

FirstFed The united states Bancorp had complete dumps away from $563.8 billion and ranked 33rd certainly one of every commercial banking and you can thrift organizations during the Massachusetts. Since an equivalent time, People’s Bancshares had complete dumps away from $582.3 billion and you may rated 32nd. (SNL Financial , Thrift Per week, 2/11; 2/)

Banknorth Gets FHC On e a monetary holding business, once putting on Federal Set aside Bank regarding Boston acceptance. (Steps by the Panel, 1/)

Department Target Change Toward erican Financial and Believe Company moved the chief work environment out of 1151 Stratford Method, Stratford, CT, in order to 132 Grand Roadway, Waterbury, CT. (State out of CT DOB News Bulletin, 2/) Citizens during the End , Store Part Purchases Towards January 7, this new Massachusetts Section off Banking institutions (MA DOB) recognized the application by the Owners Bank out of Massachusetts, Boston, MA, to ascertain 18 department offices contained in this Avoid , Shop Grocery stores found in the Massachusetts cities out-of Allston, Beverly, Brockton, East Springfield, Fall Lake, Lynn, Malden, Medford, Milford, Natick, New Bedford, Quincy, Raynham, Somerset, Stoughton, Watertown (2), and West Springfield. The newest openings are included in a greater Customers plan to open Stop , Store branches within the The The united kingdomt; the institution unsealed twenty two Massachusetts twigs ranging from , and you may 20 Rhode Isle branches to your .

Toward January 25, the brand new MA DOB recognized the applying from the Residents Financial away from Massachusetts to close off its branch work environment situated in Shaw’s Supermarket, 780 South Chief Street, Sharon, MA. (State out of MA DOB Observe, 1/)

Financial RI to ascertain Twigs Towards the January 30, Lender Rhode Isle, Providence, RI, a part from Bancorp Rhode Island, Inc., Providence, RI, launched that it will incorporate around three the new branches regarding county next season and will increase their total staff members because of the 15%. (SNL Lender , Thrift Each week, 2/4/02)

Bank of the latest Canaan Applies to own Put Insurance rates Towards the March 4, Lender of new Canaan recorded a software to possess deposit insurance policies that have the new Federal Put Insurance Corp (FDIC) trying to services just like the a commercial financial in the The latest Canaan, CT. Plus The Canaan, this new de- novo institution “needs to help you get a modest number of banking company” away from Darien, CT, and you will “the Silvermine” part of Norwalk, CT, plus the “bordering Nyc people out of Pound Ridge.” The fresh new bank’s organizers had written in the app these particular avenues try currently underserved, and you can quoted the fast rate from consolidation in Connecticut too due to the fact 40 financial disappointments regarding state as 1990. (SNL Financial , Thrift A week, 2/)

Through to achievement of the merger, Mans might possibly be merged to the FirstFed and you will Man’s equipment, Mans Deals Lender off Brockton, Southern area Easton, MA, might be combined into the FirstFed tool Very first Government Deals Financial of The usa, Slide River, MA

, obtained Kendall Insurance policies, Inc., Bethel, Myself, for $569,564. Northeast Lender, FSB is a part from Northeast Bancorp, Auburn, Myself. (SNL Everyday ThriftWatch, 2/)




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