1807 Action on applications  

  • DEPARTMENT OF BANKING

    Action on Applications

    [36 Pa.B. 5790]
    [Saturday, September 16, 2006]

       The Department of Banking (Department), under the authority contained in the act of November 30, 1965 (P. L. 847, No. 356), known as the Banking Code of 1965; the act of December 14, 1967 (P. L. 746, No. 345), known as the Savings Association Code of 1967; the act of May 15, 1933 (P. L. 565, No. 111), known as the Department of Banking Code; and the act of December 9, 2002 (P. L. 1572, No. 207), known as the Credit Union Code, has taken the following action on applications received for the week ending September 5, 2006.

    BANKING INSTITUTIONS

    New Charter Applications

    DateName of BankLocationAction
    9-1-06Colonial American Bank
    West Conshohocken
    Montgomery County
    West ConshohockenApproved

    Interim Charter Applications

    DateName of BankLocationAction
    8-31-06Unity Bank Pennsylvania
    Forks Township
    Northampton County
    Forks TownshipApproved
    Interim bank being chartered solely to facilitate the ability of Unity Bank, Clinton, NJ, a New Jersey-chartered bank, to establish a branch office in Pennsylvania.

    Mutual Holding Company Reorganization

    DateName of BankLocationAction
    8-29-06Greater Delaware Valley
       Savings Bank
    Broomall
    Delaware County
    BroomallFiled
    Greater Delaware Valley Savings Bank (Bank), which is currently organized in mutual holding company structure under Greater Delaware Valley Holdings, a Mutual Holding Company (MHC), is proposing to reorganize by inserting an interim Federal thrift holding company into its structure and converting the MHC to a Federal thrift holding company through a multi-step transaction involving the establishment of an interim bank (Alliance Interim Savings Bank), subsequent merger of the interim into the Bank and the acquisition of the bank by the newly established Federal thrift holding company.

    Holding Company Acquisitions

    DateName of CorporationLocationAction
    8-31-06Unity Bancorp, Inc., Clinton, NJ, to acquire 100% of Unity Bank Pennsylvania, Forks Township, PA, which will be merged with and into Unity Bank, Clinton, NJ, the wholly owned subsidiary of Unity Bank, Inc.Clinton, NJApproved

    Bank Holding Company Reorganizations

    DateName of BankLocationAction
    9-1-06Berkshire Bank, Wyomissing and Berkshire Interim Bank, Wyomissing
    Surviving Institution--
    Bershire Bank, Wyomissing
    WyomissingEffective
    The merger is being effected solely to facilitate the acquisition of Berkshire Bank, Wyomissing, by BERKSHIRE BANCORP, INC., Wyomissing, a newly formed bank holding company.

    Consolidations, Mergers and Absorptions

    DateName of BankLocationAction
    8-28-06Reliance Savings Bank
    Altoona
    Blair County
    AltoonaFiled
    Purchase of assets/assumption of liabilities of two branch offices of Susquehanna Bank, Hagerstown, MD.
    Located at:
    1254 Old Route 220 North
    Duncansville
    Blair County
    3119 Pleasant Valley Boulevard
    Altoona
    Blair County
    9-1-06Fulton Bank
    Lancaster
    Lancaster County
    LancasterFiled
    Purchase of assets/assumption of liabilities of Premier Bank, Doylestown. Both institutions
    are wholly owned subsidiaries of Fulton Financial Corporation, Lancaster.

    Branch Applications

    DateName of BankLocationAction
    6-29-06First Cornerstone Bank
    King of Prussia
    Montgomery County
    368 Schuylkill Road
    Phoenixville
    Chester County
    Opened
    8-26-06Community First Bank
    Reynoldsville
    Jefferson County
    135 East Mahoning Street
    Punxsutawney
    Jefferson County
    (Temporary Location)
    Opened
    8-28-06Lafayette Ambassador Bank
    Easton
    Northampton County
    North Third Street
    Coopersburg
    Lehigh County
    Filed
    8-31-06Northwest Savings Bank
    Warren
    Warren County
    West 4th Street
    (SR 22/522)
    Granville Township
    Mifflin County
    Filed
    9-1-06Farmers and Merchants Trust    Company of Chambersburg
    Chambersburg
    Franklin County
    Carlisle Crossing Shopping Center
    Carlisle
    Cumberland County
    Filed

    Branch Discontinuances

    DateName of BankLocationAction
    8-31-06First Commonwealth Bank
    Indiana
    Indiana County
    799 Castle Shannon Boulevard
    Pittsburgh
    Allegheny County
    Approved

    Articles of Amendment

    DateName of BankPurposeAction
    9-1-06Public Savings Bank
    Willow Grove
    Montgomery County
    Amendment to Article 1 of the Articles of Incorporation to change the principal place of business from 2300 Computer Avenue, Suite H42, Willow Grove, Montgomery County, PA, to 1265 Industrial Boulevard, Southampton, Bucks County, PA.Approved and Effective

    SAVINGS INSTITUTIONS

    No activity.

    CREDIT UNIONS

    Consolidations, Mergers and Absorptions

    Date Name of Credit UnionLocationAction
    9-1-06Freedom Credit Union, Philadelphia, and Church of the Redeemer Federal Credit Union, Philadelphia
    Surviving Institution--
    Freedom Credit Union, Philadelphia
    PhiladelphiaEffective
    9-1-06Freedom Credit Union, Philadelphia, and FBC Federal Credit Union, Philadelphia
    Surviving Institution--
    Freedom Credit Union, Philadelphia
    PhiladelphiaEffective

    Branch Applications

    DateName of Credit UnionLocationAction
    9-5-06Belco Community Credit Union
    Harrisburg
    Dauphin County
    1758 Oregon Pike
    Lancaster
    Lancaster County
    Filed

       The Department's website at www.banking.state.pa.us includes public notices for more recently filed applications.

    A. WILLIAM SCHENCK, III,   
    Secretary

    [Pa.B. Doc. No. 06-1807. Filed for public inspection September 15, 2006, 9:00 a.m.]

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