FirstFed told you Mans stockholders electing to get stock notably exceeded those electing to receive bucks said

Investors and Government Approve Merger Into erica Bancorp, Inc., Swansea, MA, and you may Man’s Bancshares, Inc., The new Bedford, MA, recognized brand new selling off Man’s to help you FirstFed. The offer is anticipated to shut when you look at the very first one-fourth.

For the March 20, the office of Thrift Supervision (OTS) as well as the Massachusetts Panel out of Financial Incorporation acknowledged new merger anywhere between FirstFed America Bancorp, Inc., that have Mans Bancshares, Inc., This new Bedford, MA.

This means that, People’s investors who decided on to get FirstFed inventory get an excellent combination of 0.73 share out of FirstFed well-known inventory and you may $9.34 for every single show away from People’s had. Various other shareholders get a finances commission out of $twenty-two for each share regarding Man’s prominent stock it hold. As of ,

NE Nonbanking Pastime Into the March 20, Northeast Lender, FSB, Auburn, Myself, using their subsidiary, Northeast Financial Attributes, Inc

FirstFed The united states Bancorp had overall places away from $563.8 billion and ranked 33rd one of every industrial financial and you can thrift establishments inside Massachusetts. As of a similar day, People’s Bancshares had total places of $582.3 million and you may ranked 32nd. (SNL Lender , Thrift Weekly, 2/11; 2/)

Banknorth Becomes FHC Into e a financial carrying organization, immediately following putting on Government Reserve Bank from Boston acceptance. (Steps because of the Board, 1/)

Department Address Changes Into the erican Bank and you may Believe Business moved their chief work environment away from 1151 Stratford Method, Stratford, CT, so you’re able to 132 Huge Road, Waterbury, CT. (State of CT DOB News Bulletin, 2/) Citizens inside Stop , Shop Department Transactions Into January eight, the latest Massachusetts Office out of Banking institutions (MA DOB) accepted the program by People Financial from Massachusetts, Boston, MA, to establish 18 part organizations inside Stop , Shop Supermarkets located in the Massachusetts places out of Allston, Beverly, Brockton, Eastern Springfield, Fall Lake, Lynn, Malden, Medford, Milford, Natick, The new Bedford, Quincy, Raynham, Somerset, Stoughton, Watertown (2), and you may West Springfield. New openings are included in a wider Customers intend to unlock Stop , Shop twigs during the Brand new The united kingdomt; the college started twenty-two Massachusetts branches ranging from , and 20 Rhode Isle twigs with the .

For the January 25, the fresh new MA DOB recognized the applying from the Residents Financial out-of Massachusetts to close off their branch workplace located in Shaw’s Grocery store, 780 Southern area Main Roadway, Sharon, MA. (County regarding MA DOB Find, 1/)

Bank RI to establish Twigs With the January 30, Lender Rhode Island, Providence, RI, a subsidiary out of Bancorp Rhode Island, Inc., Providence, RI, announced that it’ll add about three the latest branches regarding the state the following year and certainly will boost its overall team because of the 15%. (SNL Bank , Thrift Each week, 2/4/02)

Financial of the latest Canaan Can be applied having Put Insurance policies Towards the February 4, Financial of new Canaan filed a loan application to own put insurance rates with the fresh new Government Deposit Insurance Corp (FDIC) looking to jobs just like the a commercial financial when you look at the The new Canaan, CT. And additionally The newest Canaan, the brand new de novo establishment “needs to help you obtain a modest level of banking organization” out of Darien, CT, and you will “this new Silvermine” element of Norwalk, CT, in addition to “bordering Ny community of Pound Ridge.” This new bank’s organizers penned about application these particular avenues try currently underserved, and you can quoted new fast speed away from combination into the Connecticut also as the forty bank problems regarding state since 1990. (SNL Lender , Thrift A week, 2/)

Through to conclusion of one’s merger, Man’s would-be merged towards FirstFed and Man’s tool, Man’s Discounts Bank of Brockton, Southern area Easton, MA, might be combined towards the FirstFed equipment Basic Federal Coupons Financial out-of The united states, Slip Lake, MA

, gotten Kendall Insurance rates, Inc., Bethel, Me, to possess $569,564. Northeast Lender, FSB was a part from Northeast Bancorp, Auburn, Me. (SNL Everyday ThriftWatch, 2/)