January 31, 2007 Activity Report

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Office of Consumer January 31, 2007 Activity Report Affairs Search By the Division of Banks

BOARD OF INCORPORATION RELATED LINKS Hearings Division of Banks Consumer February 14, 2007 Assistance Unit Fifth Floor – Hearing Room A Division of Banks One South Station , At 9:15 a.m. The Toronto-Dominion Bank (the "Petitioner"), Toronto, Canada – permission to acquire 100% control of TD Banknorth Inc. and its banking subsidiary, TD Banknorth, N.A., Portland, . The Petitioner had previously been approved by the Board of Bank Incorporation to control up to 70% of TD Banknorth Inc. Comment period ends February 16, 2007.

At 9:30 a.m. Veritas Bank, Lawrence, Massachusetts – permission to establish a savings bank. Comment period ends February 21, 2007. Applications Pending Bay State Savings Bank, Worcester, Massachusetts – permission to establish a in conjunction with its multi-step reorganization into a mutual holding company, 1895 MHC, with a mid-tier holding company, 1895 Corp. The continuing bank will operate under the name Bay State Savings Bank. Comment period ended January 25, 2007. Lehman Brothers Bank, FSB ("Lehman"), Wilmington, and Related Parties – permission to acquire Capital Crossing Bank ("Capital Crossing"), Boston, Massachusetts. As part of a multi-step transaction, Capital Crossing will merge with and into Lehman. Comment period ended January 25, 2007. Marlborough Savings Bank, Marlborough, Massachusetts – permission to establish a mutual savings bank in conjunction with its multi-step reorganization into a mutual holding company, Marlborough Bancshares, MHC, with a mid-tier holding company, Marlborough Bancshares, Inc. The continuing bank will operate under the name Marlborough Savings Bank. Comment period ended January 25, 2007. Nuvo Bank and Trust Company, Springfield, Massachusetts – permission to establish a trust company. Comment period ended December 19, 2006. Spencer Savings Bank, Spencer, Massachusetts – permission to establish a mutual savings bank in conjunction with its multi-step reorganization into a mutual holding company, Spencer MHC, with a mid-tier holding company, Spencer Mid-tier Holding Company. The continuing bank will operate under the name Spencer Savings Bank. Comment period ended January 25, 2007. DIVISION OF BANKS

file:///W|/...20and%20Business%20Regulation/Division%20of%20Banks/Activity%20Reports/ocn425959252-2007-01-31.htm[8/25/2009 1:47:08 PM] January 31, 2007 Activity Report

Decisions/Notices Citizens Bank of Massachusetts, Boston – permission to close its branch office located at 398 Longmeadow Street, Longmeadow – approved January 8, 2007. Country Bank for Savings, Ware - notice to establish a branch office at WalMart Supercenter, 1626 Main Street, Leicester – non-objection issued January 17, 2007. Danversbank, Danvers and BankMalden, A Co-operative Bank ("BankMalden), Malden – permission to merge under the charter, by-laws and name of Danversbank. The main office of Danversbank would remain the main office of the continuing institution and the sole banking office of BankMalden would be retained as a branch office – approved January 18, 2007. East Cambridge Savings Bank, Cambridge – notice to establish a branch office at 243 Salem Street, Medford – non-objection issued January 3, 2007. Freedom Credit Union, Springfield – permission to relocate a branch office from 39 Carlon Drive, Northampton to Kingsgate Plaza, 228 King Street, Northampton – approved January 30, 2007. Rockland Trust Company, Rockland – notice to establish a branch office at 345 Center Avenue, Abington – non-objection issued January 12, 2007. Applications/Notices Pending Bay State Savings Bank, Worcester, Massachusetts – permission to reorganize into a mutual holding company, 1895 MHC, as part of a multi-step transaction. Comment period ended January 25, 2007. Bridgewater Credit Union, Bridgewater - permission to close its branch office located at Bridgewater High School, 166 Mount Prospect Street, Bridgewater. Comment period ends February 13, 2007. Bridgewater Credit Union, Bridgewater - permission to close its branch office located at 8 North Park Avenue, Plymouth. Comment period ends February 14, 2007. Cambridge Portuguese Credit Union, Cambridge – permission to amend its by laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to add membership for those who live, work or attend school in Middlesex County, Essex County, Norfolk County and Suffolk County. A subsequent amendment is pending which would extend membership only to Middlesex and Suffolk counties and eight specified municipalities in Essex County. Additional changes are set out in the proposed by-law. Comment period ended January 22, 2007. Capital Crossing Bank ("Capital Crossing"), Boston, Massachusetts and Lehman Brothers Bank, FSB ("Lehman"), Wilmington, Delaware – permission for the merger of Capital Crossing, with an interim federal savings association and a subsequent merger of Capital Crossing as the surviving entity with and into Lehman that will result in the banking office of Capital Crossing becoming a branch office of Lehman. Comment period ended January 25, 2007. East Cambridge Savings Bank, Cambridge – permission to 1) purchase certain assets and assume certain deposit and other liabilities of the branch office of The First National Bank of Ipswich, Ipswich located at 2067 Massachusetts Avenue, Cambridge; and in connection therewith 2) establish and maintain a branch office at that location. Comment periods end February 26, 2007. Grafton Suburban Credit Union, North Grafton – permission to amend its by laws to expand the associations which qualify persons for membership. The amendment relative to membership eligibility proposes to add membership for those who live, work or attend school, as defined in the proposed by-law, in Worcester County. Additional changes are set out in the proposed by-law. Comment period ends February 16, 2007. Hyde Park Savings Bank (The), Hyde Park – notice to establish a branch office at 1337 Beacon Street, Brookline. Filed January 31, 2007. Marlborough Savings Bank, Marlborough, Massachusetts – permission to reorganize into a mutual holding company, Marlborough Bancshares, MHC, as part of a multi-step transaction. Comment period ended January 25, 2007. Southbridge Savings Bank, Southbridge – permission to close its branch office located at 2370 Main Street, Route 67, West Warren. Comment period ends February 15, 2007. Spencer Savings Bank, Spencer, Massachusetts – permission to reorganize into a mutual holding company, Spencer MHC, as part of a multi-step transaction. Comment period ended January 25, 2007. FEBRUARY 2007 FILING DATE

file:///W|/...20and%20Business%20Regulation/Division%20of%20Banks/Activity%20Reports/ocn425959252-2007-01-31.htm[8/25/2009 1:47:08 PM] January 31, 2007 Activity Report

Complete applications for the February Activity Report must be received by the Division or the Board on or before 5:00 P.M., Thursday, February 15, 2007. COMMUNITY REINVESTMENT ACT DESCRIPTIVE RATINGS AND EVALUATIONS WHICH BECAME PUBLIC DURING THE MONTH The following state-chartered institutions have Community Reinvestment Act Descriptive Ratings and Evaluations describing the basis for the Rating issued by the Division of Banks pursuant to Massachusetts General Laws chapter 167, section 14. The ratings, as set out in the statute, for a bank's record of meeting community credit needs are: Outstanding ("O"); High Satisfactory ("HS"); Satisfactory ("S"); Needs to Improve ("NI"); and Substantial Noncompliance ("SNC").

Date of Financial Institution Rating Examination

Crescent Credit Union, Brockton S 09/11/06

Haverhill Credit Union S 11/13/06

Webster Five Cents Savings Bank O 11/06/06

APPLICATIONS TO SELL Legacy Banks, Pittsfield, Massachusetts – approved January 8, 2007. NewAlliance Bank ("NewAlliance"), New Haven, – approved January 29, 2007. Note: On January 2, 2007, NewAlliance merged with Westbank, West Springfield, Massachusetts under the charter, by-laws and name of NewAlliance. NewAlliance seeks to offer bank insurance products through the branch offices of Westbank acquired through the merger. TEMPORARY CHECK CASHER LICENSES Hearing Wednesday, February 21, 2007 Lombardi Municipal Building 831 Massachusetts Avenue Cambridge, Massachusetts At 6:00 p.m. Parrot Check Cashing, LLC, Cambridge, Massachusetts – permission to operate a check casher office located at 56 Creighton Street, Cambridge and a mobile check cashing service to serve the North Cambridge, Massachusetts area. Comment period ends Wednesday, February 28, 2007. Applications Pending Fast Cash Corp., New Bedford, Massachusetts – permission to operate check casher offices at 211 Union Street, New Bedford and 194 Cover Street, New Bedford. Comment periods ended Thursday, December 21, 2006. John Tamburo d/b/a Tamburo Check Cashing, Everett, Massachusetts – permission to operate a check casher office at 241 Beacham Street, Everett. Comment period ended Tuesday, September 5, 2006. Kirsch & Davis, Inc. d/b/a Kirsch Package Store, Worcester, Massachusetts – permission to operate a check casher office at 646 Main Street, Worcester. Comment period ended Thursday, August 24, 2006. Pioneer Check Cashing, Inc., Springfield, Massachusetts - permission to operate a check casher office located within the Chestnut Package Store, 95 Chestnut Street, Springfield, Massachusetts. Comment period ended Tuesday, October 10, 2006. PLEASE NOTE: All publications of the Division of Banks are now delivered electronically. To subscribe, simply send an email to: [email protected] If you need assistance or have questions, please contact Bernard N. Waxman at 617.956.1571.

file:///W|/...20and%20Business%20Regulation/Division%20of%20Banks/Activity%20Reports/ocn425959252-2007-01-31.htm[8/25/2009 1:47:08 PM] January 31, 2007 Activity Report

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