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American Financial Acquires American Bank
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Business New Haven
12/10/2001
By: BNH
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NEW BRITAIN - American Financial Holdings Inc. (NASDAQ: AMFH), the holding company for American Savings Bank, has received regulatory approval for its acquisition of American Bank of Connecticut (AMEX: BKC), subject to certain conditions. American Bank's shareholder meeting to consider and approve the transaction is scheduled for December 12. A mid-January closing date is forecast.
American Savings operates 17 branches in 12 communities in central Connecticut. Following the acquisition, American Savings will double its branch size to 34 and will operate in nine additional municipalities.
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