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FINANCIAL INSTITUTIONS SUPERINTENDENT'S
Sanford Institution for Savings, Sanford, Maine, has applied to the Bank Superintendent pursuant to 9-B MRSA Chapter 105 for prior approval to reorganize into a mutual holding company structure whereby Sanford Institution for Savings will become an investor-owned universal bank (the “Stock Bank”), which will be wholly-owned by SIS Bancorp, Inc., an intermediary stock holding company which will be wholly-owned by SIS Bancorp, MHC, a Maine-chartered mutual holding company. Substantially all of the assets and liabilities, including all of the deposit accounts, of Sanford Institution for Savings will become assets and liabilities of the Stock Bank.
The public may submit written comments on this application to the Bureau of Financial Institutions, 36 State House Station, Augusta, Maine 04333-0036 or electronically through the Bureau of Financial Institutions’ Web site at http://www.maine.gov/financialinstitutions. A hearing on this application will be held by the Superintendent, as provided in 9-B MRSA Section 252, upon receipt of a bona fide and reasonable request. The Bureau will accept written comments and requests for a hearing through Monday, October 6, 2008. The Superintendent's decision on this application will be based on the decision-making criteria set forth in 9-B MRSA Section 253.
Lloyd P. LaFountain III
Last Updated: October 21, 2010
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