American Financial Holdings, Inc. Receives Regulatory Approval for Acquisition of American Bank of Connecticut.Business Editors NEW BRITAIN New Britain, city, United States New Britain, industrial city (1990 pop. 75,491), Hartford co., central Conn.; settled c.1686, inc. 1871. The tin shops and brassworks in the city were established in the 18th cent. , Conn.--(BUSINESS WIRE)--Nov. 29, 2001 American Financial Holdings, Inc. (Nasdaq: AMFH), the holding company for American Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , today announced that it had received all regulatory approvals for its acquisition of American Bank of Connecticut (AMEX AMEX See: American Stock Exchange : BKC BKC Burger King Corporation BKC Bible Knowledge Commentary BKC Burgess Kershaw Consultants BKC Bethany Korean Church BKC Backup Catalog BKC BatchKennisCentrum (Dutch: Batch Knowledge Centre) BKC Backup Copy ), subject to certain conditions. American Bank's shareholder meeting to consider and approve the transaction is scheduled for December 12, 2001 and a mid-January 2002 closing date is currently contemplated. American Financial Holdings, Inc. was established in 1862. American Savings operates 17 branches in 12 communities throughout central Connecticut. Following the acquisition, American Savings will double its branch size to 34 and will operate in nine additional communities. More information can be found on the Company's website: www.americanfinancialholdings.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion