Title

Shareholders led by Jeffrey Cole are fighting the acquisition, or "merger," of O

Authors

Sam Smith

Source

Mainebiz

Date

12-24-2001

Pages

1, 10-11

Abstract

Shareholders led by Jeffrey Cole are fighting the acquisition, or "merger," of Ocean National Bank by Chittenden Corporation. Other shareholders had narrowly approved a $53.23 million buyout Dec. 12. Cole says he wants Ocean National to remain an "independent community bank." The Maine Bankers Association says every bank fits that description, especially since the federal Community Reinvestment Act, although some Ocean National shareholders say the golden era of comunity banking was in the 1970s and early 1980s. Details.

Subjects

Banks and banking, Ocean National Bank

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