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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 24, 2004
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NEW ENGLAND BANCSHARES, INC.
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(Exact name of registrant as specified in its charter)
United States 0-49711 04-3693643
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(State or other Jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
660 Enfield Street, Enfield, Connecticut 06082
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(Address of principal executive offices)
(860) 253-5200
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. AND
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ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER
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AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.
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On November 24, 2004, Enfield Federal Savings and Loan Association, the
wholly-owned subsidiary of New England Bancshares, Inc., entered into a 25-year
lease with Troiano Professional Center, LLC for a building that is being
constructed to house its new headquarters. It is currently expected that the
initial annual payment on the new lease will be approximately $453,000. However,
the exact amount of annual rent to be paid by Enfield Federal under the lease
will be a function of the total costs of the construction of the building,
subject to routine annual increases. Once the new office is completed, Enfield
Federal will sell its current main office. Additionally, the new executive
office will house the back office function, which is currently being operated in
a separate leased facility. Enfield Federal estimates that the net increase in
occupancy and equipment expense as a result of entering into this new lease and
the sale and consolidation of the other properties will be approximately
$231,000 in the first full year after the new branch is opened. In addition to
rent, Enfield Federal will be required to pay all taxes, insurance and
maintenance costs that arise through the use of the property.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: January 3, 2005 By: /s/ David J. O'Connor
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David J. O'Connor
President and Chief Executive Officer