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) July 16, 2003 (July 16, 2003)
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Alliance Bancorp of New England, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 001-13405 06-1495617
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.
348 Hartford Turnpike, Vernon, CT 06066
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (860) 875-2500
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Not Applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events and Regulation FD Disclosure
On July 16, 2003, Alliance Bancorp of New England, Inc. ("Alliance") issued a
news release announcing that it entered into a definitive merger agreement with
New Haven Savings Bank ("NHSB"), pursuant to which NHSB will acquire all of the
outstanding shares of Alliance. NHSB has separately announced the adoption of a
plan for conversion to convert from a mutual savings bank to a stock savings
bank and simultaneously merge with Alliance and Connecticut Bancshares, Inc. As
part of the conversion, NHSB will form a new holding company and conduct a
subscription offering of its common stock. Alliance is the holding company for
Tolland Bank. Connecticut Bancshares, Inc. is the holding company for the
Savings Bank of Manchester.
Alliance shareholders will be entitled to receive $25 per share in the form of
stock of NHSB's new holding company issued at the conversion price, cash or a
combination thereof. Election and allocation procedures will ensure that at
least 75% of Alliance's shares will be exchanged for stock of the new holding
company and no more than 25% will be exchanged for cash. It is expected that the
aggregate purchase price of the transaction will be approximately $72 million.
The transaction is contingent on the approval of the shareholders of Alliance,
the shareholders of NHSB, the FDIC, the Federal Reserve Board, and the
Connecticut Banking Commissioner. NHSB's conversion is subject to the approval
from the FDIC, the Connecticut Banking Commissioner, and NHSB's Corporators.
A copy of the news release is filed as Exhibit 99.1 to this report.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Businesses Acquired
Not applicable
(b) Pro Forma Financial Information
Not applicable
(c) Exhibits
99.1 News Release dated July 16, 2003
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: July 16, 2003 ALLIANCE BANCORP OF
NEW ENGLAND, INC.
Registrant
By: /s/ David H. Gonci
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David H. Gonci
Senior Vice President/
Chief Financial Officer