FirstFed said Mans stockholders electing for inventory rather exceeded people electing to get cash consideration

Shareholders and you will Bodies Accept Merger Into the erica Bancorp, Inc., Swansea, MA, and you will Man’s Bancshares, Inc., This new Bedford, MA, acknowledged brand new business from People’s so you’re able to FirstFed. The offer is anticipated to shut within the basic quarter.

Towards the March 20, any office from Thrift Supervision (OTS) additionally the Massachusetts Panel from Financial Incorporation accepted the brand new merger between FirstFed America Bancorp, Inc., having People’s Bancshares, Inc., The fresh new Bedford, MA.

This is why, People’s investors which decided on for FirstFed inventory will get an excellent combination of 0.73 display out of FirstFed preferred inventory and $nine.34 for every single display away from Mans had. Virtually any shareholders will receive a profit payment regarding $22 for every single express away from Man’s prominent stock they hold. By ,

NE Nonbanking Hobby Toward February 20, Northeast Financial, FSB, Auburn, Myself, and their subsidiary, Northeast Financial Qualities, Inc

FirstFed The united states Bancorp had total places regarding $563.8 million and you will rated 33rd certainly all the industrial banking and you can thrift organizations when you look at the Massachusetts. Since an identical go out, Man’s Bancshares had total dumps of $582.step 3 million and you may ranked 32nd. (SNL Bank , Thrift Per week, 2/11; 2/)

Banknorth Will get FHC Towards the age an economic holding business, just after wearing Federal Set aside Bank off Boston approval. (Strategies of the Panel, 1/)

Department Address Change To your erican Financial and you will Trust Providers relocated their head work environment out of 1151 Stratford Method, Stratford, CT, so you can 132 Grand Path, Waterbury, CT. (State out of CT DOB News Bulletin, 2/) Customers for the Stop , Store Department Purchases To the January seven, the new Massachusetts Office regarding Banking companies (MA DOB) approved the applying by People Financial out-of Massachusetts, Boston, MA, to determine 18 department workplaces in this Avoid , Store Super markets found in the Massachusetts locations out-of Allston, Beverly, Brockton, East Springfield, Fall River, Lynn, Malden, Medford, Milford, Natick, The fresh Bedford, Quincy, Raynham, Somerset, Stoughton, Watertown (2), and you may Western Springfield. The open positions are included in a bigger Owners want to open Stop , Shop branches when you look at the Brand new England; the college launched twenty-two Massachusetts branches between , and you will 20 Rhode Area twigs towards the .

Toward January twenty-five, this new MA DOB acknowledged the program by the Citizens Bank of Massachusetts to shut its part office situated in Shaw’s Grocery store, 780 Southern area Chief Road, Sharon, MA. (State off MA DOB Notice, 1/)

Financial RI to establish Branches Towards January 31, Bank Rhode Isle, Providence, RI, a subsidiary out-of Bancorp Rhode Area, Inc., Providence, RI, established that it will incorporate about three brand new twigs about condition next year and certainly will improve their full associates because of the 15%. (SNL Financial , Thrift A week, 2/4/02)

Lender of new Canaan Enforce having Put Insurance rates To the March 4, Lender of new Canaan recorded a loan application getting put insurance coverage that have the fresh Federal Put Insurance policies Corp (FDIC) trying operate since a professional financial during the The newest Canaan, CT. Plus The Canaan, the brand new de novo business “needs in order to obtain a small amount of financial company” out of Darien, CT, and you will “the fresh Silvermine” element of Norwalk, CT, while the “bordering New york society regarding Lb Ridge.” The newest bank’s organizers blogged about software these particular places are already underserved, and cited the quick speed out of combination inside the Connecticut also while the 40 bank downfalls throughout the state as 1990. (SNL Bank , Thrift Each week, 2/)

Abreast of conclusion of your own merger, People’s is combined with the FirstFed and you will Mans device, Man’s Coupons Financial out-of Brockton, Southern area Easton, MA, could be merged on the FirstFed product Basic Federal Discounts Lender from The usa, Slide River, MA

, acquired Kendall Insurance, Inc., Bethel, Me personally, having $569,564. Northeast Bank, FSB try a subsidiary from Northeast Bancorp, Auburn, Me personally. (SNL Everyday ThriftWatch, 2/)