Alliance Bancorp of New England, Inc. (Alliance) is the holding company for Tolland Bank (the Bank). The Bank operates nine offices in and around Tolland County, Connecticut, and provides retail and commercial banking products and services in Tolland County and surrounding towns. Tolland Bank is planning to open a tenth office in Enfield, Connecticut, in 2003. Retail activities include branch deposit services and home mortgage and consumer lending. Commercial activities include merchant deposit services, business cash management, construction mortgages, permanent mortgages and working capital and equipment loans. Through third-party relationships, the Bank also provides investment products, insurance products and electronic payment services to retail and commercial customers. As of December 31, 2002, Alliance had total deposits of $331 million, total loans of $278 million and total assets of $415 million.