ALLIANCE BANCORP OF NEW ENGLAND INC
8-K, 2000-04-10
SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED
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                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                            -----------------------

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934



Date of report (Date of earliest event reported)  April 6, 2000 (March 23, 2000)
                                                  ------------------------------


                      Alliance Bancorp of New England, Inc.
- --------------------------------------------------------------------------------
               (Exact Name of Registrant as Specified in Charter)



         Delaware                     001-13405                   06-1495617
- ----------------------------       ----------------           ------------------
(State of Other Jurisdiction       (Commission File              IRS Employer
    of Incorporation)                 Number)                 Identification No.


       348 Hartford Turnpike, Vernon, CT                            06066
- ---------------------------------------------------------   --------------------
       (Address of Principal Executive Offices)                  (Zip Code)


Registrant's telephone number, including area code  (860) 875-2500
                                                    --------------


                                 Not Applicable
- --------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)



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Item 5.  Other Events.

         Alliance Bancorp of New England, Inc. ("Alliance") announced that it
had issued $3.5 million in Trust Preferred Securities through a wholly owned
subsidiary, Alliance Capital Trust II, on March 23, 2000. A copy of the press
release announcing the transaction is attached hereto as Exhibit 99(i).

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

         (a)      Financial Statements of Businesses Acquired
                  Not applicable

         (b)      Pro Forma Financial Information
                  Not applicable

         (c)      Exhibits

                  (99)(i)  Press release dated March 29, 2000























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                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.

                                                 ALLIANCE BANCORP OF
                                                    NEW ENGLAND, INC.
                                                  Registrant



Date:  April 6, 2000                        By:  /s/ David H. Gonci
                                                 -------------------------------
                                                 David H. Gonci
                                                 Senior Vice President/
                                                 Chief Financial Officer

















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                                                 Exhibit 99(i)-Press Release

                                                 David H. Gonci
                                                 Senior Vice President/
                                                 Chief Financial Officer

Vernon, CT - March 29, 2000


                   ALLIANCE ISSUES TRUST PREFERRED SECURITIES


         Alliance Bancorp of New England, Inc. announced today that it has
issued $3.5 million in 10.875% cumulative trust preferred securities through its
wholly owned Delaware Business Trust, Alliance Capital Trust II.

         Alliance President Joseph H. Rossi stated that "issuance of the trust
preferred securities will enable Alliance to continue to pursue its strategy of
measured growth as well as position us to respond to other opportunities which
may arise in our market."

         Alliance also issued a corresponding amount of subordinated debentures
to Alliance Capital Trust II which will be used to pay interest on the trust's
preferred stock. Alliance invested the majority of the proceeds as contributed
capital to Tolland Bank, its bank subsidiary. All of the proceeds qualify as
regulatory capital under regulatory guidelines.

Alliance Bancorp of New England, Inc. (AMEX: ANE) is a bank holding company for
Tolland Bank, a Connecticut-chartered bank serving the markets of central and
eastern Connecticut. (www.alliancebancorp.com)


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