02-16582. Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies

The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)).

The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the office of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than July 16, 2002.

A. Federal Reserve Bank of Boston (Richard Walker, Community Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:

1. Employee Stock Ownership Plan Trust of Port Financial Corp., Brighton, Massachusetts, to acquire voting shares of Port Financial Corporation, Brighton, Massachusetts, and thereby indirectly acquire voting shares of Cambridgeport Bank, Cambridge, Massachusetts.

2. Mystic Financial, Inc. Employee Stock Ownership Plan & Trust, Medford, Massachusetts; to acquire voting shares of Mystic Financial, Inc., Medford, Massachusetts and thereby indirectly acquire voting shares of Medford Co-Operative Bank, Medford, Massachusetts.

Board of Governors of the Federal Reserve System, June 26, 2002.

Robert deV. Frierson,

Deputy Secretary of the Board.