FLEET BANK OF NEW HAMPSHIRE ASSUMES DEPOSITS OF ATLANTIC TRUST COMPANY, NEWINGTON, N.H.
FLEET BANK OF NEW HAMPSHIRE ASSUMES DEPOSITS OF ATLANTIC TRUST COMPANY, NEWINGTON, N.H. NASHUA, N.H., Jan. 30 /PRNewswire/ -- Fleet Bank of New Hampshire today assumed $22 million in deposits of Atlantic Trust Company, Newington, N.H., from the receiving and liquidating agent, the Federal Deposit Insurance Corp. (FDIC), it was announced by Dean T. Holt, president and chief executive officer of Fleet Bank of New Hampshire. Holt said the failed Atlantic Trust, located at Newington Park, Newington, will reopen for business as usual tomorrow morning. Fleet Bank will operate the branch for a period of 30 days, after which the office will close and all remaining accounts will be transferred to Fleet Bank's branch at 848 Islington St., Portsmouth. Holt said Fleet Bank did not purchase any of Atlantic's loans, other than loans secured by passbook savings accounts. "We welcome this opportunity to serve our new customers in the Newington area," Holt said. "We are interested in expanding Fleet Bank's presence in New Hampshire and will continue to pursue such opportunities as this to participate in federally assisted transactions involving troubled financial institutions." Fleet Bank of New Hampshire operates 35 banking offices and has assets of $1.7 billion and deposits of $1.3 billion. Fleet Bank of New Hampshire is a subsidiary of Fleet/Norstar Financial Group (NYSE: FNG), based in Providence, R.I. Fleet/Norstar is a diversified financial services company listed on the New York Stock Exchange. The corporation has approximately 1,300 offices nationwide. Fleet/Norstar's lines of business include commercial and consumer banking, mortgage banking, consumer finance, asset-based lending, trust banking, and student loan processing. -0- 1/30/92 /CONTACT: Robert W. Lougee, Jr., vice president of corporate communications, 401-278-5879; Robert Hand, 603-594-5059; Bruce P. Crooks, 401-278-6241; or Thomas L. Lavelle, 617-573-7733, of Fleet/Norstar/ CO: Fleet Bank of New Hampshire ST: New Hampshire IN: FIN SU:
EG-SH -- NE019 -- 5473 01/30/92 16:52 EST
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|Date:||Jan 30, 1992|
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