FirstFed told you Mans stockholders electing for stock significantly exceeded those individuals electing to get dollars believe

FirstFed told you Mans stockholders electing for stock significantly exceeded those individuals electing to get dollars believe

Investors and you may Regulators Agree Merger Towards the erica Bancorp, Inc., Swansea, MA, and you may People’s Bancshares, Inc., The fresh new Bedford, MA, approved brand new business off Man’s to help you FirstFed. The offer is expected to close in the earliest one-fourth.

Towards the February 20, any office off Thrift Supervision (OTS) plus the Massachusetts Panel from Bank Incorporation accepted the brand new merger between FirstFed The usa Bancorp, Inc., that have Mans Bancshares, Inc., The fresh Bedford, MA.

As a result, Man’s shareholders which picked to get FirstFed stock are certain to get good combination of 0.73 display from FirstFed well-known inventory and you will $9.34 each express out of Man’s had. Virtually any shareholders will receive an earnings percentage from $22 each display of People’s popular inventory they keep. As of ,

NE Nonbanking Craft On February 20, Northeast Bank, FSB, Auburn, Me personally, using their part, Northeast Monetary Services, Inc

FirstFed America Bancorp got full deposits regarding $563.8 billion and you can rated 33rd among all of the industrial banking and thrift establishments inside Massachusetts. At the time of a comparable big date, Man’s Bancshares got total dumps regarding $582.step 3 million and you can ranked 32nd. (SNL Financial , Thrift A week, 2/11; 2/)

Banknorth Gets FHC Into e a monetary holding team, shortly after putting on Federal Set-aside Bank out-of Boston recognition. (Methods by Board, 1/)

Department Target Transform Towards the erican Lender and Trust Team moved its head place of work of 1151 Stratford Method, Stratford, CT, in order to 132 Grand Path, Waterbury, CT. (State off CT DOB Reports Bulletin, 2/) Customers into the End , Store Part Purchases With the January eight, the brand new Massachusetts Division from Banking institutions (MA DOB) accepted the program by Residents Lender regarding Massachusetts, Boston, MA, to determine 18 department practices within End , Store Grocery stores found in the Massachusetts locations off Allston, Beverly, Brockton, East Springfield, Fall Lake, Lynn, Malden, Medford, Milford, Natick, Brand new Bedford, Quincy, Raynham, Somerset, Stoughton, Watertown (2), and you can West Springfield. The fresh open positions are included in a wider Citizens propose to unlock End , Shop branches in the The latest The united kingdomt; the college started 22 Massachusetts branches between , and you will 20 Rhode Island twigs to your .

To your January twenty five, the fresh new MA DOB approved the application of the Owners Lender out of Massachusetts to close its branch place of work situated in Shaw’s Supermarket, 780 South Head Highway, Sharon, MA. (State out of MA DOB Find, 1/)

Lender RI to establish Branches Into the January 31, Financial Rhode Isle, Providence, RI, a part out-of Bancorp Rhode Isle, Inc., Providence, RI, established that it’ll add around three this new branches regarding county the coming year and can boost the full staff members from the 15%. (SNL Financial , Thrift Per week, 2/4/02)

Financial of new Canaan Is applicable to have Deposit Insurance coverage Into March 4, Bank of new Canaan filed a credit card applicatoin having deposit insurance rates that have the brand new Government Deposit Insurance rates Corp (FDIC) trying to jobs once the a professional lender into the Brand new Canaan, CT. Plus The new Canaan, the de novo establishment “expects so you’re able to get a moderate quantity of financial organization” regarding Darien, CT, and “the Silvermine” part of Norwalk, CT, therefore the “bordering New york people away from Lb Ridge.” Brand new bank’s organizers composed regarding the application why these segments is already underserved, and quoted the latest rapid speed from combination during the Connecticut too once the 40 financial failures about state since the 1990. (SNL Financial , Thrift Per week, 2/)

Upon achievement of your own merger, Man’s could well be combined to your FirstFed and you will Mans unit, Mans Offers Lender of Brockton, Southern area Easton, MA, might be matched into FirstFed equipment Basic Federal Savings Bank regarding The united states, Slide River, MA

, acquired Kendall Insurance policies, Inc., Bethel, Myself, to have $569,564. Northeast Bank, FSB try a subsidiary off Northeast Bancorp, Auburn, Me personally. (SNL Everyday ThriftWatch, 2/)


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