FirstFed told you Mans stockholders electing for inventory significantly surpassed people electing to receive cash said

FirstFed told you Mans stockholders electing for inventory significantly surpassed people electing to receive cash said

Shareholders and you may Government Accept Merger On erica Bancorp, Inc., Swansea, MA, and Mans Bancshares, Inc., This new Bedford, MA, approved the fresh selling from People’s so you’re able to FirstFed. The offer is anticipated to close off when you look at the first quarter.

Into the March 20, the office regarding Thrift Supervision (OTS) additionally the Massachusetts Panel from Bank Incorporation acknowledged the newest merger anywhere between FirstFed The united states Bancorp, Inc., that have Man’s Bancshares, Inc., The fresh Bedford, MA.

Thus, People’s investors just who decided to go with to get FirstFed stock can get a mix of 0.73 display out of FirstFed prominent stock and you will $nine.34 for every display out of Mans had. Almost every other shareholders can get a finances fee away from $twenty-two for each share off People’s preferred inventory they hold. By ,

NE Nonbanking Interest Toward March 20, Northeast Financial, FSB, Auburn, Myself, with the subsidiary, Northeast Financial Properties, Inc

FirstFed The usa Bancorp had full places out of $563.8 mil and you can ranked 33rd certainly most of the industrial banking and thrift institutions within the Massachusetts. At the time of a similar go out, Mans Bancshares got overall places of $582.step three billion and you may ranked 32nd. (SNL Bank , Thrift Each week, 2/11; 2/)

Banknorth Becomes FHC To your age a financial holding company, immediately after putting on Government Set-aside Financial of Boston acceptance. (Strategies of the Board, 1/)

Part Target Transform Into erican Bank and Believe Providers moved their fundamental place of work from 1151 Stratford Avenue, Stratford, CT, to 132 Huge Roadway, Waterbury, CT. (County from CT DOB Information Bulletin, 2/) Owners inside Prevent , Store Part Purchases To your January 7, the latest Massachusetts Section from Financial institutions (MA DOB) approved the application from the Customers Bank of Massachusetts, Boston, MA, to ascertain 18 part practices in this Stop , Store Grocery stores found in the Massachusetts towns and cities off Allston, Beverly, Brockton, Eastern Springfield, Fall Lake, Lynn, Malden, Medford, Milford, Natick, The newest Bedford, Quincy, Raynham, Somerset, Stoughton, Watertown (2), and you may Western Springfield. The latest spaces are included in a bigger Customers want to open End , Store branches during the The newest England; the school launched twenty-two Massachusetts branches between , and you can 20 Rhode Isle branches into .

On the January 25, brand new MA DOB recognized the application form by Customers Lender out-of Massachusetts to close off its part place of work situated in Shaw’s Grocery store, 780 Southern Head Path, Sharon, MA. (State out-of MA DOB Observe, 1/)

Lender RI to ascertain Branches Into the January 31, Bank Rhode Island, Providence, RI, a subsidiary out of Bancorp Rhode Island, Inc., Providence, RI, announced that it’ll incorporate about three the newest branches regarding county next season and can improve the full staff by the 15%. (SNL Lender , Thrift Weekly, 2/4/02)

Lender of brand new Canaan Can be applied for Deposit Insurance rates On March cuatro, Financial of brand new Canaan submitted a loan application to possess put insurance rates having the fresh new Government Put Insurance policies Corp (FDIC) seeking work since a commercial lender in the This new Canaan, CT. In addition to New Canaan, the newest de- novo business “needs in order to derive a modest quantity of financial providers” of Darien, CT, and you will “new Silvermine” element of Norwalk, CT, in addition to “bordering Ny neighborhood from Lb Ridge.” New bank’s organizers authored on software these particular avenues was currently underserved, and you will cited this new rapid pace of integration for the Connecticut also given that 40 financial disappointments regarding state once the 1990. (SNL Financial , Thrift A week, 2/)

Abreast of end of the merger, People’s might be merged on FirstFed and you may Mans tool, Mans Savings Financial of Brockton, Southern area Easton, MA, could be matched for the FirstFed product First Federal Coupons Lender out of The usa, Fall River, MA

, gotten Kendall Insurance coverage, Inc., Bethel, Me, to have $569,564. Northeast Financial, FSB is a part regarding Northeast Bancorp, Auburn, Myself. (SNL Daily ThriftWatch, 2/)