RANDOLPH, Mass. - The One Bancorp said it filed a voluntary petition for Chapter 11 bankruptcy protection.
The company said this will not affect operations of its subsidiary, the Bank of Hartford. It said the filing was in responce to a previously announced involuntary bankruptcy petition filed by three creditors on June 2.
The company added that Bank of Hartford has consented to a reported cease-and-desist order from the Federal Deposit Insurance Corp. that requires it to maintain a minimum leverage capital ratio of 6%, among other things.