CANDLEWOOD BANK PLANS INITIAL OFFERING
<Candlewood Bank and Trust
Co> said it plans an initial public offering of 500,000 common
shares at an expected price of 10 dlrs each through underwriter
Moseley Holdings Corp <MOSE>, which has been granted an option
to buy up to 75,000 more shares to cover overallotments.
    Candlewood is being formed to serve the area around
Candlewood Lake in Connecitcut,  Proceeds from the offering
would support its operations.
 Reuter
