Approval of Application by Alcar, LLC, New York, New York to Become a Bank Holding Company

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Press Release

Approval of Application by Alcar, LLC, New York, New York to Become a Bank Holding Company

December 28, 2009

NEW YORK—The Federal Reserve Bank of New York Thursday approved the application by Alcar, LLC, New York, New York to become a bank holding company by acquiring a majority of the voting shares, or otherwise control, of Darien Rowayton Bank, Darien, Connecticut, pursuant to Section 3(a)(1) of the BHC Act and Section 225.15 of Regulation Y.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.

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