NEW YORK—The Federal Reserve Bank of New York Tuesday approved the application by BNC Financial Group, Inc., New Canaan, Connecticut, for prior approval of the Board of Governors of the Federal Reserve System, pursuant to Sections 3(a)(3) of the Bank Holding Company Act of 1956, as amended, to acquire one hundred percent of the voting shares of the Bank of Fairfield, Fairfield, Connecticut.
According to standard procedure, the proposal cannot be completed sooner than 15 days, or later than 3 months, from the date of this announcement.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.
