In a move that tells large banks they can look but can't touch, a Connecticut thrift has imposed a 5% limit on stock share purchases to prevent any ownership change that would cut back a hefty tax credit.

While snuggling through New England's recession, $479-million-asset Farmers and Mechanics Bank accrued more than $9 million in credits, amounting to more than $5.50 per share.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.