Connecticut Banking 1Q 2016 by The Warren Group

First Quarter 2016

ATTENDEES WIN BIG AT BANKWORLD’S 21ST ANNIVERSARY

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First Quarter 2016 • Connecticut Banking Magazine

First Quarter 2016

ATTENDEES WIN BIG AT BANKWORLD’S 21ST ANNIVERSARY

MEET THIS YEAR’S NEW LEADERS IN BANKING

CONNECTICUT BANKERS ASSOCIATION

10 Waterside Dr. Farmington, CT 06032-3083 Telephone: 860-677-5060 • Fax: 860-677-5066 Chairman Richard J. Cantele President & CEO Salisbury Bank & Trust

Second Vice Chairman Michael J. Casparino President Northern Connecticut, People’s United Bank

First Vice Chairman B. Michael Rauh President & CEO Chelsea Groton Bank

President & CEO Lindsey R. Pinkham

Executive Vice President & Treasurer Thomas S. Mongellow First Senior Vice President & Secretary Colleen E. Clancy

COVER STORY

Attendees Win Big at BankWorld’s 21st Anniversary......................................... 12 Meet this Year’s New Leaders in Banking............................ 14 FEATURES

A Trillion-Dollar Tax-Exempt Cash Cow................................... 4 Teaming Up for Financial Education...................................... 6 The Winding Road................................................................. 8

Connecticut Banking is an official publication of the Connecticut Bankers Association and is published quarterly by

The Warren Group

Design / Production / Advertising www.thewarrengroup.com custompubs@thewarrengroup.com With the exception of official association announcements, the Connecticut Bankers Association and The Warren Group disclaim responsibility for opinions expressed in Connecticut Banking. This publication is intended and designed to provide accurate and authoritative information, not to provide legal, accounting or other professional advice.

CONNECTICUT BANKING Editor

Karen Horanzy

a trademark of The Warren Group Inc. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Advertising, editorial and production inquiries should be directed to: The Warren Group, 280 Summer Street, Boston, MA 02210. Call 800-356-8805.

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CBA Calendar.............................................................. 10 Bankers in the News .................................................... 22 Banks in the News ....................................................... 24

Connecticut Banking Magazine • First Quarter 2016

A Trillion-Dollar Tax-Exempt Cash Cow Credit Unions Compete with Banks but Don’t Have Banks’ Financial and Regulatory Burdens By Alex Sanchez

s a veteran of the U.S. Air Force from 1976-1981, I look at all ads featuring military men and women with great interest, including the recent television campaign by the Navy Federal Credit Union. I do not question this credit union’s intentions or its mission statement to provide banking services to our Armed Forces. However, I am troubled every time I see the commercials with a message that it is all about serving and caring for the men and women in uniform. If that is really the case, why doesn’t the Navy Federal Credit Union – with $60 billion in assets, 10,000 employees world-wide and five million members – pay state and federal corporate income taxes? Doing so would help to pay the salaries of the men and women who serve our country. It also would support the defense of the United States, the needs of children and seniors, and help pay down the $18 trillion national debt. For almost a century credit unions have been allowed to parade themselves as banks, offering identical services. Unlike banks, they pay no federal or state corporate income taxes. This loophole should be closed. Credit unions were created to serve a single purpose: servicing people of modest means who share a common bond. Yet as institutions such as Suncoast Credit Union, the largest credit union in Florida with nearly $6 billion in assets, continue to grow, the people of modest means these institutions were meant to serve are no longer the focus. This is evident by their push to increase lending to businesses. Several studies in the past decade, such as the 2006 Government Accountability Office report, indicate that banks are doing a better job meeting the needs of lowincome customers. Today, there are more than 200 credit unions that have more than $1 billion in assets and are growing at twice the rate of America’s hometown banks. They pay no taxes and are also exempt from the Community Reinvestment Act, which requires that banks be evaluated for how they meet the needs of the areas they serve, including low- and moderate-income neighborhoods.

MidFlorida, the fifth largest credit union in the state – with $2.1 billion in assets – paid an undisclosed amount for the naming rights to an amphitheater in Tampa while developing some of the most lavish office spaces and branches throughout the state. MidFlorida began in 1954 as a small credit union for teachers and today serves approximately 200,000 members who “live, work, worship or attend school” in its Central Florida service area. Other credit unions have started marketing campaigns to further align themselves as banks by advertising themselves as “banking for good” or “what a bank should be.” America’s hometown banks – many of them small businesses of 10, 20, 30 or more employees – cannot afford to purchase the naming rights to amphitheaters or stadiums. Not when 40 cents of every dollar of their earnings go to taxes, and not when they must also comply with extensive and expensive regulations. It has become exceedingly tough for America’s hometown banks to compete with credit unions because of the tax advantages that give them an unfair leg up in the marketplace. The biggest losers are American citizens and businesses that front the credit union’s tax bill annually, and that includes the more than 250 members of my organization, the Florida Bankers Association. At a time when the country needs to downsize its national debt and generate more revenue, I fail to understand how it can ignore a $1 trillion tax-exempt cash cow. I believe there is room for both credit unions and banks to compete and thrive, but we should do so on a level and fair playing field. The tax code should never provide a competitive advantage to one segment of the financial industry over another, especially one that’s so blatantly outdated. This article first appeared in the May 18, 2015 issue of The Wall Street Journal. u Mr. Sanchez is president and CEO of the Florida Bankers Association. 4

2016 Women In Banking Conference

Presented By The Connecticut Bankers Association

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We are pleased to announce the second annual Women In Banking Conference. This exciting event kicks off on Thursday with a networking reception providing a great opportunity to reconnect with peers and share experiences. On Friday, we have an impressive lineup of speakers covering the latest topics impacting Connecticut banking. Don’t miss out, register today!

WHY YOU SHOULD ATTEND:

SPONSORSHIP OPPORTUNITIES ARE STILL AVAILABLE.

• Real Life Chaos – How it affects all of us

Contact cba@ctbank.com for additional information.

• Networking – Meet with your peers from around the state. • Birth Order – Does it really matter in your business life? • Diversity Policies and Practices – Can we increase diversity in the ﬁnancial industry? • The power of forgiveness and the importance of healing broken relationships. • So much more!!

Connecticut Banking Magazine • First Quarter 2016

Teaming Up for Financial Education Thomaston Savings Bank, Bristol Adult Education and COCC Bring Banking Certification Program to Life a humbling experience for me. As I watched the graduates receive their certificates of completion for the program, I saw the huge impact I had on them and I wish them all well as they work towards obtaining a position within the banking industry.” A graduation ceremony was recently held at the Bristol Adult Education Center for the eight participants – all were presented with their Workforce Development Certificate for completing the bank teller hands-on training portion of the program. The eight graduates were: • Mariana Aguirre • Jazmine Boza • Raquel Boza • Rosa Martinez-Farias • Nahomi Nunez • Carmen Ortiz • Jocelyn Perez • Claudia Patricia Sanchez

The trainers, from left to right: Todd Burton, assistant vice president of business development and CRA officer, Thomaston Savings Bank; Phyllis Tucker, training and development specialist, Thomaston Savings Bank; Michele Cleary, trainer, COCC; and Gina Braley, assistant vice president and training officer, Thomaston Savings Bank.

homaston Savings Bank collaborated with Bristol Adult Education and COCC to help develop and teach a pilot program for the newly formed Adult Education Diploma and Certificate (AEDAC) program. This banking cohort, an important workforce development program open to learners of the Bristol Adult Education Center, focused on providing a collaborative setting for academic hands-on training so participants would have the opportunity to get their high school diploma as well as train to be qualified for entry level positions in the banking industry. Thomaston Savings Bank and COCC employees and the staff of the Bristol Adult Education Center donated over 100 hours of time to this initiative, preparing, organizing, scheduling and presenting the curriculum. During the summer of 2015, Gina Braley, assistant vice president and training officer, worked with the staff of the Bristol Adult Education Center to develop the curriculum and schedule classes for a three-month banking cohort. The specialized banking curriculum classes included entry-level banking skills, bank security, banking laws and regulations, along with communication skills to help participants with resume writing and job interviews within the banking industry. Phyllis Tucker, training and development specialist, Todd Burton, assistant vice president of new business development, and CRA Officer Sharon Cossu, human resources generalist, along with representatives of COCC, conducted the training during the three-month program. Eight students received comprehensive training and developed the skills necessary to obtain a position as a bank teller. All the students were also enrolled in either the high school diploma or ESL classes at the Adult Education Center. “I am honored to have been an instructor for the bank teller training component of the fall 2015 AEDAC program,” Tucker said. “Being able to inspire others to succeed was truly

“We were honored to participate in the Bristol Adult Education banking cohort program,” Thomaston Savings Bank President and CEO Stephen Lewis said. “Working with our other partners, COCC and Bristol Adult Education, we provided a comprehensive training program that will prepare the students to start a career in banking. I truly appreciate the dedication and commitment of our staff to make the program a success. And it was inspiring to see the students’ joy and excitement upon graduating from the program. We wish them the best and we will continue to work with Bristol Adult Education to ensure they have opportunities to succeed.” This program was funded in part through the generosity of the Main Street Community Foundation and the McPhee Foundation. Established in 1874, Thomaston Savings Bank is one of the strongest state-chartered mutual savings banks in the state. Headquartered in Thomaston, the bank operates 10 full-service branches throughout western Connecticut. The branches are located in Bethlehem, Bristol, Harwinton, Middlebury, Terryville and Watertown, with two each in Thomaston and Waterbury. The bank plans to open two new branches – one in Oakville and one in Bristol – in 2016. The cornerstone of the bank’s business philosophy is building long lasting relationships with customers by providing financial services of the highest quality and value. Since 1874, Thomaston Savings Bank has helped support the goals, dreams, and future of its customers by remaining committed to community. To learn more about Thomaston Savings Bank and how they support their local community, visit their website: www. thomastonsavingsbank.com. u 6

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Connecticut Banking Magazine • First Quarter 2016

The Winding Road How Two Accidental Politicians Came to Lead the Banking Committee of the Connecticut General Assembly By Joe Kourieh

ome kids lie awake at night dreaming of the day he or she will be a famous politician – a state representative, a congressman or even president of the United States. “That’s all well and good, but that wasn’t me,” said Rep. Matthew Lesser. Rather, Lesser, a Washington, D.C. native with family ties in Connecticut going back 300 years, was recruited to the political world while still a student as Wesleyan University. His community activities at the collegiate level earned him a spot on Middletown’s Planning and Zoning Commission, and after working for high-profile senators such as Chris Dodd and Barack Obama, Lesser was “shoehorned” into the legislature, defeating a three-term incumbent to take his district’s office. Sen. Gary Holder-Winfield’s path to politics was a similarly indirect one. After post-high school

move up to the level of state senator. Eventually these two community leaders-turned-politicians, already peers elected in the same legislative class, would become co-chairs of the state’s Banking Committee.

A Whole New World Why was this duo selected from the State’s legislative roster of 187 legislators? “You would have to ask the Speaker [of the House] about that,”

“I’m going to spend my time meeting with representatives of the banking community, lobbyists, liaisons to the legislature, then going out and talking to people I represent, in order to find the real story.” — Sen. Holder-Winfield

Lesser said with a laugh. He explained that it’s not the chairs’ particular subject areas of expertise that matter, so much as their styles. In your average legislature, Lesser said, “You’re not going to find experts in every subject matter. What you’re looking for is a fair and open process. One of the things I hope I’ve shown is that I’m not coming in with any particular ax to grind, but I am willing to work with all the parties, listen and have an open and productive discussion, to make sure our laws reflect our values.” “There’s a difference between advocating and being concerned about an issue and having some responsibility for shepherding that issue through a general assembly,” Holder-Winfield said. And the new co-chairs certainly did not become banking experts overnight. Lesser described the new role, so steeped in new terms and regulatory nuances, as “intimidating.” Holder-Winfield said the learning curve was difficult, and still to this point requires time and attention to conduct the proper research and build an understanding of the ins and outs of the industry. “I like to know my subject matter backwards and forwards; I like to feel familiar with terms and concepts,” he said.

Sen. Holder-Winfield speaks on from the dais of the Senate Chamber after being sworn in as state Senator representing New Haven and West Haven. Sen. Holder-Winfield previously served as state Representative serving the 94th Assembly District since 2008.

stints in the Navy and private energy sector, Bronx-born HolderWinfield found himself taking on the role of a community activist in New Haven, focusing on a variety of issues including school and prison reform. When Rep. William Dyson eyed retirement, he personally encouraged Holder-Winfield to run. “I recognized that much of what I was doing ultimately needed to go to a body with the power to enact law,” Holder-Winfield said. “If I really wanted to do what I was doing well, it would be a good idea to get involved.” Holder-Winfield launched his campaign, walked and talked with the people of his district for as much as 52 hours per week (while maintaining a full-time job) and nine months later took office as a state representative. About five years later, he would 8

First Quarter 2016 • Connecticut Banking Magazine

Fun Fact: Where We Bank • Rep. Lesser has one account with Webster Bank, one with Liberty Bank, one with JP Morgan Chase, and several small credit union accounts. • Sen. Holder-Winfield does his banking with Wells Fargo.

“I was intimidated by it at first, but I’ve fallen in love with the committee. It’s just the most fascinating and exciting place in the legislature… It’s really at the heart of our entire economic system. Every time I go into the office I learn new things.”

Rep. Matthew Lesser Courtesy of Connecticut House Democrats

Lesser added that, despite having an entire industry dropped on his head over the course of a year, the experience has been positive. “I was intimidated by it at first, but I’ve fallen in love with the committee,” he said. “It’s just the most fascinating and exciting place in the legislature. People don’t give it enough credit. It’s really at the heart of our entire economic system. Every time I go into the office I learn new things. “I’m just incredibly honored to have this position,” he added. For Holder-Winfield, who took up the co-chair position midsession, the responsibility of the role is just business as usual. As a member of four committees and a chair of four more – a state record – Holder-Winfield is comfortable jousting with any subject, spurred on by the desire to do his constituents and his state’s bankers right by ensuring both get their say in how the industry is regulated. “I’m going to spend my time meeting with representatives of the banking community, lobbyists, liaisons to the legislature, then going out and talking to people I represent, in order to find the real story,” he said. Lesser said that “it’s important that we have strong regulations, but also that our regulators be responsive” to the needs of an industry woven into the fabric of the state’s community. This, as bankers push back against an overbearing regulatory burden and consumers fear being manipulated on the tail end of a catastrophic recession. “Trying to strike that balance is really important to me,” he said. “Banks are businesses too. We draw benefit from a strong and competitive banking sector that’s able to ensure access to credit. The economy and the strength of our banking sector are inextricably linked.” “There’s always a push and pull,” Holder-Winfield said, “and I think that’s the point of having these committees. If it was simply about what people feel, you could set up an American Idol-style poll and we could figure it out, but the committees are a kind of filter. We have a responsibility to listen to the industry and make sure it works. We figure out where the happy medium is.”

— Rep. Matthew Lesser Chores for Chairs With good work already achieved, including a popular “Bill of Rights” giving the state oversight of student loan servicers to “protect Connecticut citizens from unfair lending and collection practices,” Lesser and Holder-Winfield’s relationship as co-chairs has been, not surprisingly, a success, featuring what Lesser described as “complimentary styles.” “I think we had a great start this year,” Lesser said. “I think we’re all better off when politicians can work together for the interests of the state.” And of course, outside of the committee and the legislature in general, life goes on, even for this pair of workaholics. Holder-Winfield keeps his mind fresh in his off time by working with the state’s youth, both in the overall community through mentoring programs, but also at home, spending time helping his fiancée’s two kids with homework. “I’m a boring kind of person,” he said, laughing, noting that his golf game has undoubtedly gotten rusty over years with a full legislative plate. Lesser also has an increasingly domestic focus – renovating a home with his fiancée. He recently completed a five-week fellowship traveling Europe, meeting with banking professionals abroad. The experience, he said, gave him an appreciation for “how good we have it” in terms of a strong banking industry. “Sometimes on the state level we get put into narrow bubbles, and I’ve always tried to break out of my bubble and hear new ways of thinking. I like being challenged and exposed to new ideas, even from unexpected sources,” he said. He added that, for him, his co-chair and the rest of America’s leadership, key guidance comes from the people he serves. u Joe Kourieh is an associate editor with The Warren Group, publisher of Connecticut Banking. 9

Connecticut Banking Magazine • First Quarter 2016

Upcoming

CBA Calendar MARCH 22 24 29

Americans with Disabilities Act (ADA) Compliance Call Report Elderly Fraud Program

APRIL

5 CSFM 2017 10-12 CSFM BankSim 13 CSFM 2016 Graduation 21-22 Women in Banking

MAY

3 CSFM 2017 10 Directors Symposium 17 BSA/AML 24 CSFM 2017

AUGUST 29

CBA Annual Golf Tournament

SEPTEMBER

11-13 CSFM Resident Session 15 ALM Seminar 21 Director’s College

OCTOBER 4

Bank Security

NOVEMBER 4 17

FDIC Outreach Mortgage Symposium

Jason and Vinny lead by example. Congratulations on being recognized as New Leaders in Banking! Union Savings Bank is thrilled to announce that Jason Ginsberg, Head of Treasury Services (left), and Vinny DiGilio, VP, Manager, Business Banking (right), have been chosen as “New Leaders in Banking”. This is a notable distinction given by The Connecticut Bankers Association (CBA) and Connecticut Banking Magazine. We are proud of their contributions to Union Savings Bank’s success and of their dedication to the communities we serve!

unionsavings.com 203.830.4200 • 866.872.1866

Member FDIC

CBA Webinars – February & March 2016 Webinars and webcasts are online seminars featuring audio, video, PowerPoint and other interactive features. These programs are available anytime, anywhere 24/7. Our archived webinar library has over 100 topics to choose from. Choose between LIVE, ON DEMAND OR CDs to be mailed.

FEBRUARY 1 Achieving Unclaimed Property Compliance

MARCH 1

TRID: Six-Month CheckUp

Military Lending Act Essentials

2&3

Basics of Real Estate Loan Documentation

The UCC For Lenders

7&8

Analyzing Business Financial Statements

Investigating Internal Fraud

Regulation E Demystified

8 & 22

Banking The Medical, Legal & Accounting Professional

Lending Compliance 101

Patch the People: Security Awareness Programs for Customers & Employees

14 & 17

Understanding ESOPs: From the Commercial Lender & Bank-Employer Perspective

8 Keys to Teller Excellence

Conquer Your Inbox

Completing the W-9, W-8BEN & W-8BENE: Line-By Line

21 & 25

Analyzing Business Cash Flow

Hot Technology & Security Concerns: Overview of Current Topics

Recognizing Elder Fraud For Staff

Loan Doc 101 Part 1: The Basics

Incident Response

Revised Ability To Repay/Qualified Mortgage Options

Loan Doc 101 Part 2: Lien Perfection

Loan Doc 101 Part 3: Reviewing Collateral Files

Personal Financial Statement Analysis

Completing The Currency Transaction Report

Seven Habits Of Highly Successful Supervisors

Four Steps To A Practical Business Continuity Plan In An IT World

Signature Card Danger Zones: Account Titling, Ownership & Access

Opening Deposit Accounts For High Risk Customers: CIP, CDD &Risk

Record Retention & Destruction Policies – A Must for Financial Institutions

UDAAP Review & Update

Introduction To Personal & Business Tax Returns

Baby Boomers to Millennials

26 29

TO REGISTER: Go to: www.ctbank.com/education/webinars. FOR QUESTIONS, PLEASE CALL KATHY PARKS AT THE ASSOCIATION (860.677.5060).

E 21ST A N TH

YEARS

RAN

WING ♠

TEED

♠

V E R S A RY ♠

YEAR

VE NI

| MOHEGAN SUN

IT’S A G

JANUARY 15, 2016

NIVERSA

♠

THE 2 1S

THE NORTHEAST’S LARGEST BANKING SHOW

ATTENDEES WIN BIG AT BANKWORLD’S 21ST ANNIVERSARY Held this year at Mohegan Sun, the annual tradeshow for all things banking in Connecticut was once again a rousing success. Presented by the Connecticut Bankers Association and The Warren Group, in partnership with the Center for Financial Training, BankWorld offered something for everyone. Many of the 17 concurrent sessions were standing-room-only, and the tradeshow floor, featuring more than 70 vendor booths, once again proved popular. The night before the show, hundreds gathered to honor the New Leaders in Banking. This year’s 13 recipients were feted with a celebratory reception and dinner. The stories of these inspiring individuals can be found on page 14. For more photos, podcasts and videos from the tradeshow floor, please visit www.thewarrengroupevents.com/bankworld/media. u

THAN K YOU TO OUR BAN KW ORLD S P ON S ORS ! Platinum Wolf & Company, P.C.* Gold ABnote All Covered* BBN* COCC* CTComp* DarkTrace Eastern Bank* Fiserv* GraVoc Associates Haberfeld Associates J.P. Morgan Asset Management NEACH* NYMBUS Oâ&#x20AC;&#x2122;Connor & Drew PC RSM* Salesforce Strategic Resource Management* Shoreline, A Gemalto Company Strunk Silver CPI Card Group (podcast booth sponsor) Buzz Points Diligent East Commerce Solutions Inc. Harland Clarke* ISG* Northeastern Banking Services Group* Saylent (raffle sponsor) Stanley Security (program guide sponsor) Bronze HTX Services Meyer-Chatfield* Newtek Pullman & Comley LLC* * CBA MEMBER 13

PRESENTED BY

MEET THE FUTURE OF CONNECTICUT BANKING

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In conjunction with BankWorld, the largest banking conference and expo in the Northeast, held in January, the Connecticut Bankers Association and The Warren Group honored 13 up-and-coming bankers in Connecticut. Nominated by their peers and chosen by an independent review committee, these are the stateâ&#x20AC;&#x2122;s best and brightest. Here are their stories. PHOTOS BY AMANDA MARTOCCHIO | THE WARREN GROUP

How did you come to community banking, and why do you stay? It was a temporary stopover 27 years ago. I stay because I love getting to work every day with great colleagues, and to partner with amazing people in our community who have a common mission of helping others achieve their goals. What do you consider your biggest success? Eleven years ago, I left my accounting manager position to create a community education program in honor of the bank’s 150th birthday. In the past two years, the program has expanded to reach first-time homebuyers, and to look at the affordable housing needs in the communities we serve.

PAM DAYS-LUKETICH Assistant Vice President, CRA Coordinator, Community Outreach Officer Chelsea Groton Bank

How do you see technology changing the banking industry over the next 10 years? We’ll continue to see a shift to mobile and virtual. Businesses and individuals will be able

How did you come to community banking, and why do you stay? I got into banking because my grandfather was the chairman of the board of the bank I started at, and I have stayed because I love helping people. What do you consider your biggest success? Becoming a manager of a branch and helping people get their mortgage approved to purchase their first home.

to do all of their banking remotely but branches will still be a part of the community banking culture. No matter how advanced technology becomes, there will always be the need for caring and kind interactions between customers and their bankers. If you weren’t a community banker, what would you be doing? I would be working for a nonprofit whose main focus was on affordable housing and community development. What’s your favorite vacation spot? Cape Cod – it is my home away from home. I have been going there every summer since I was born.

or pressure … maybe a grocery checkout person, I still would need to see and deal with people … I’m definitely not a back officer person! What’s your favorite vacation spot? My husband and I love to go to Ocean City, Maryland.

How do you see technology changing the banking industry over the next 10 years? I think we will rely more on technology than we ever have and far less customers will feel the need to visit the branches.

SUSAN M. DICKINSON Assistant Vice President, Branch Manager Litchfield Bancorp

If you weren’t a community banker, what would you be doing? Not sure, I’ve been in banking for more than 33 years now, probably a job with no responsibility

How did you come to community banking, and why do you stay? It was a total accident. I was in the process of going back to school to pursue a second bachelor’s degree in accounting so I could become a CPA and thought a part-time job at a bank made sense. I never became a CPA. I stay because, for me, seeing is believing. Union Savings Bank’s mission is help our customers and communities plan, grow and succeed, and the bank has done the same for me and my career. What do you consider your biggest success? Now that I have a family, my wife and children keep what I consider success in perspective.

VINCENT DIGILIO Vice President, Head of Business Banking Union Savings Bank

How do you see technology changing the banking industry over the next 10 years? Technology continues to redefine how business is done and it will enable customers,

prospects and bankers to do things I likely have not thought of yet. Customer and banker relationships will always be valued and make a difference, so those that execute both the aspects of technology and relationships well will be effectively unstoppable. If you weren’t a community banker, what would you be doing? I would likely be in law enforcement, possibly a detective. What’s your favorite vacation spot? I grew up in Laconia, New Hampshire and enjoy going back to that area for the memories. I also enjoy going fishing in the areas I did as a kid.

continued from page 15 How did you come to community banking, and why do you stay? I came to community banking because I was looking for a career in sales and business development and customer service, where I could also give back to the community. I stay because Liberty Bank values my commitment to the community I work in and is absolutely the best place to work!

How do you see technology changing the banking industry over the next 10 years? The biggest change I see is there is less customer traffic in our lobby. They are using ATMs, mobile banking and more electronic channels. If you weren’t a community banker, what would you be doing? Dancing with the Rockettes on Broadway!

What’s your favorite vacation spot? What do you consider your biggest success? The relationships I have built over the years with Las Vegas with my husband, Michael. my customers as well as my peers.

CARA EHLERS Vice President Liberty Bank How did you come to community banking, and why do you stay? When the opportunity came to join Union Savings Bank, I found that the bank’s values and commitment to the community matched mine. I have enjoyed being a part of the bank and am always proud to say I work for Union Savings Bank.

JASON GINSBERG Vice President, Head of Treasury Services Union Savings Bank

SHAWN P. HONAN Senior Vice President, Treasurer & Chief Financial Officer Essex Savings Bank

What do you consider your biggest success? I have had exposure in several areas of the bank, and have grown within those roles. I feel my biggest success has been the ability participate in important key projects and work with a team to see them through to completion. Personally, my biggest success by far is my family.

How do you see technology changing the banking industry over the next 10 years? I see technology continuing to be at the forefront of the banking industry. The payments area is still rapidly developing in the U.S. Branch banking will play a different role as the mobile arena takes the lead. Security and risk concerns will be a constant battle that technology and intelligence must keep up with at the same time. If you weren’t a community banker, what would you be doing? I would be a law enforcement officer or firefighter. What’s your favorite vacation spot? Anywhere I can spend time with my family. I enjoy being in Coastal Maine, but will never deny an opportunity to visit someplace tropical.

How did you come to community banking, and why do you stay? I was hired when Essex Savings Bank was having severe financial difficulties to improve the bank’s accounting function. I stay because community banks like ESB remain focused on serving the needs of their communities.

How do you see technology changing the banking industry over the next 10 years? The primary impact of technology on our industry will be providing opportunities to improve back office efficiencies and deliver cost reductions. I expect that the security element will become increasingly important to clients.

What do you consider your biggest success? That the bank has succeeded for an extended period over challenging times and that I’ve played a positive role on the leadership team. This has involved both doing my job well and being a good teammate. ESB returned to profitability in 1992 and has remained profitable every year since – that’s 24 straight years of profits. That has permitted ESB not only to meet the financial needs of our communities, but also to make substantial investments in both a broker-dealer/registered investment advisory company and to build a trust department.

If you weren’t a community banker, what would you be doing? My vocation is in finance and management, so I expect that my next occupation would be somewhere in one or both of these fields.

What’s your favorite vacation spot? America’s National Park System.

How did you come to community banking, and why do you stay? I came to community banking by chance through a phone call from a friend. Twelve years later, the mission of truly looking to provide tangible benefits to the community is a key component to staying. This could be through financial services or through volunteer work at a local school. But what really keeps me here is working for a great company like Ion Bank that puts its employees first and strives to be a technology leader.

JOHN W. JAHNE Senior Vice President, Chief Information Officer Ion Bank

KARI JONIKAS First Vice President, Human Resources Manager Liberty Bank

How do you see technology changing the banking industry over the next 10 years? Technology is going to continue to enable and attract people from all generations. It will continue to move to a place where all aspects of banking can be transacted remotely through mobile channels anywhere at any time. If we don’t adapt, we will fail. If you weren’t a community banker, what would you be doing? Either teaching elementary school or working for the Minnesota Vikings.

What do you consider your biggest success? Being married for 23 years and raising, trying What’s your favorite vacation spot? to raise, three boys. From a work perspective, working with a great team to achieve great things Myrtle Beach, South Carolina. It has been a family destination for more than 20 years. You such as our recent core banking conversion. can’t beat the beaches and golf!

How did you come to community banking, and why do you stay? My first job was in high school working for Colonial Bank in Waterbury as a proof operator. Having held several different positions in banking, my background allowed me to apply my experience in a recruiting role within human resources and I knew I had found my long-term career path.

to grow in importance. Providing good online banking services and leveraging the pace of innovation will be a differentiator in the industry. As the financial industry continues to become more technologically savvy, it will be challenged with an increase in risk management to protect customers’ personal information and financial well-being. Technology will be the biggest cause for transformation in the financial industry.

What do you consider your biggest success? My family! They make me proud every day.

If you weren’t a community banker, what would you be doing? Most likely managing a small local business, like a deli or a bakery. I love cooking and watching Food Network!

How do you see technology changing the banking industry over the next 10 years? Over the next 10 years foot traffic in branches will decline as consumer demographics and banking channel preferences change. Smart devises and the pace of innovation will continue

Essex Savings Bank’s Employees, Directors & Trustees congratulate Shawn P. Honan on receiving the 2015 New Leader in Banking Award!

MEMBER FDIC

What’s your favorite vacation spot? Florida to visit family, Vermont in the fall, and our yearly anniversary trip to Newport, Rhode Island.

continued from page 17 How did you come to community banking, and why do you stay? When a colleague had mentioned to me the Savings Institute had an opportunity to develop their internal audit department, I thought the role would capitalize on my experience in auditing as well as my interest in banking (I had been in public accounting and insurance prior to joining the bank). Since joining the bank, I’ve had the privilege of working with a dynamic management team that’s fostered teamwork and professional growth.

SARAH A. KANNAS Vice President, Director of Finance Savings Institute Bank & Trust Company

What do you consider your biggest success? I think my biggest success has been my ability to attain the goals I’ve set for myself. I naturally pursue continuous improvement and challenge myself to constantly learn and grow professionally. How did you come to community banking, and why do you stay? After receiving a master’s degree in elementary education, I realized teaching was not my true passion. While being a community banker was not something I had envisioned for myself prior to working at Dime, it has certainly been the right fit for me.

JULIE O’CONNOR Vice President, Credit Department Manager Dime Bank

What do you consider your biggest success? I feel my greatest success is the team that I have helped build. The opportunity to work with some of the best bankers in the business has had a major impact on my ability to succeed. These people have not only mentored me, but have challenged me to be a better analyst and manager.

How do you see technology changing the banking industry over the next 10 years? Technology is the future. Technology is necessary for not only the increasing security and oversight needs of electronic banking, but it is also the key element in providing the online and virtual banking culture younger generations demand. I believe banks that are able to transition from traditional branches to this changing culture will be successful. If you weren’t a community banker, what would you be doing? If I weren’t a banker, I think I’d still be in the accounting or auditing field. What’s your favorite vacation spot? The Georgia coast with my two children and extended family. How do you see technology changing the banking industry over the next 10 years? We will need to continue to cater to the needs of the younger, technology-savvy generations. If you weren’t a community banker, what would you be doing? Having a career while raising three children can be challenging for anyone, but when one of those children has special needs, it is even more difficult to juggle work-life priorities. I’d dedicate more of my time to helping my 3-year-old daughter, Georgia, who was diagnosed with autism in 2014. What’s your favorite vacation spot? My family enjoys camping and we have found Scarborough, Maine to be our current favorite vacation spot. We’re looking forward to our next trip there!

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How did you come to community banking, and why do you stay? I joined DRB a year ago as part of the student loan refinancing division. It’s been a very exciting year! I feel strongly that the product we offer is something that many working professionals in this country can benefit from. We are lucky to have the opportunity to offer a great product to a nationwide customer base, with the exceptional customer service that is expected from a community bank. What do you consider your biggest success? Growing my team over the past year from six to 36 is one of my biggest successes. I have the privilege of working with many talented people who always put the customer first and work as a team to get the job done.

JENNIFER SHELDON Vice President, Student Loan Operations Darien Rowayton Bank

How do you see technology changing the banking industry over the next 10 years? Advances in technology continue to improve access to services and products for consumers, allowing them more choices in products and banks outside their geographical area. This gives us the opportunity to provide the community banking experience to customers outside of our community and across the country. If you weren’t a community banker, what would you be doing? If I was not in banking, I would be working at a nonprofit agency. What’s your favorite vacation spot? Disney World with my nephews, and Aruba with my friends!

continued from page 19

ROBERT TORRES Vice President Webster Bank

MARK T. ZIGMONT Vice President, Licensed Branch Manager First Niagara Bank

How did you come to community banking, and why do you stay? I’ve been in banking almost 12 years, but can truly say I’ve only been in “community banking” since joining Webster Bank. To be a part of a community bank gives me such pride, because I know I am backed by an institution that allows me to make the right decisions and do what’s best for our clients; that’s why I stay.

How do you see technology changing the banking industry over the next 10 years? I see the technology only getting better and faster as we continue to move into the digital and paperless stage. All banks need to think outside the box for our customers, since technology is changing daily in our everyday lives.

How did you come to community banking, and why do you stay? I love working for a bank that is large enough to support the products and services that the community needs, but still small enough to stay connected and give back as well. I have also found that community banks invest in their own talent to help them grow as individuals.

customers to bank from anywhere, which diminishes the demand of the brick and mortar footprint. The universal banker role will take over, which will mean that the teller role as we know it will not exist.

If you weren’t a community banker, what would you be doing? What do you consider your biggest success? I can’t imagine myself doing anything other than Being a part of a bank like Webster gives me the being a banker, but I would have to say I would opportunity to grow; here, I was the opportunity probably be working in the not-for-profit sector. to act in the capacity of a market manager for six What’s your favorite vacation spot? months while my current market manager was out. From that experience I was able to help lead Newport, Rhode Island. a team of 16 banking centers to success.

If you weren’t a community banker, what would you be doing? As my two main passions are animals and sports, What do you consider your biggest success? I would build the largest “no-kill” animal shelter From a career standpoint, I really enjoy leading in Connecticut and continue to coach my son’s and coaching. Facilitating employee development youth baseball teams. and watching that person achieve a promotion is What’s your favorite vacation spot? deeply satisfying. I have found that my greatest success, however, are my two boys and my wife. St. Thomas. My wife and I spent some time on our honeymoon there, and it was the How do you see technology changing the banking most peaceful and beautiful place that I have industry over the next 10 years? experienced. Technological advances have enabled our

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Connecticut Banking Magazine • First Quarter 2016

Jamie Goulas

Bill Checkosky

Bruce Figueroa

Susan Wilson

David Hughes

Pat Nuzzo

Diane Arnold

Christina Bodine Aysseh

Janet West

Stephen Wooters

Michael Stacey

Daniel Trudo

Steven Ferguson

Agnieszka Maciejewski

Art Rhatigan

Bret Boland

Sean Doyle

Enrique Lopez

Robert Fluharty

Brad Hardy

Lynn Horvath

Bruce Rogers

Megan Charette

Joseph Bottacari

Kari Jonikas

Dawn Ferry

Emanuele “Manny” Caccomo

Jason Gordon

Todd McWhinnie

Daniel Quesnel

Berkshire Bank announced the following appointments: Shawn Howard, senior vice president, chief investment officer and senior portfolio manager; Tom Barney, first vice president and wealth advisor; and Colleen Lussier, vice president and wealth advisor. Chelsea Groton Bank announced that Jamie Goulas has joined the bank as a retail loan originator and Bill Checkosky joined as vice president of commercial lending and Greater Hartford market manager. Citizen Bank announced the following: Bruce Figueroa was named head of not-forprofit banking while Erik Jones and Patrick Donnelly will become team leaders. Susan Wilson joined as head of sales, treasury solutions; David Hughes joined as chief administrative officer, treasury solutions; and Pat Nuzzo joined as head of liquidity and commercial card product and sales, treasury solutions. Joyce Plaskowitz was honored for 25 years of service. Essex Savings Bank promoted Diane Arnold to vice president, senior loan manager and senior commercial loan officer. Fairfield County Bank announced the following: Christina Bodine Aysseh was promoted to vice president, cash management; Janet West was promoted to

vice president and branch manager; Stephen Wooters was appointed executive vice president of electronic banking and payment systems and Michael Stacey was appointed assistant vice president and branch manager. First County Bank announced Daniel Trudo and Steven Ferguson joined as assistant vice presidents and business development officers. Agnieszka Maciejewski was promoted to branch manager. First Niagara announced the following new hires: Art Rhatigan, senior team leader for commercial lending; Bret Boland, middle market relationship manager; Sean Doyle, vice president of small business banking; Enrique Lopez, employee benefits consultant; Robert Fluharty, senior business development officer; Brad Hardy, middle market relationship manager; and Lynn Horvath, vice president of risk management. Bruce Rogers moderated a cybersecurity panel discussion at the 2015 Global Alpha Forum. Ion Bank announced the following: Marcia Arndt was promoted to branch operations officer; Megan Charette joined as assistant vice president of cash management/business development; and Joseph Bottacari was promoted to business banking officer. 22

Liberty Bank announced the following: Kari Jonikas was appointed first vice president and human resources manager. Dawn Ferry was appointed assistant vice president, learning and development. Emanuele “Manny” Caccomo joined as vice president and business banking officer. Jason Gordon joined as vice president and senior resort finance loan officer. Todd McWhinnie was appointed banking officer responsible for commercial credit underwriting. Daniel Quesnel joined as vice president and business banking officer. Debra Pelosi joined as vice president of commercial real estate lending. Mark Vickery was the 2016 inductee into the Liberty Bank Volunteer Hall of Fame for his many years of service as a coach and supporter of athletic teams, directing a $1,500 donation to the Sandy Peszynski Breast Cancer Foundation. Milford Bank announced Celeste Lohrenz was named manager of their main office. Janet Harrison was promoted to branch manager. The two are CSFM graduates. Newtown Savings Bank announced the following: Matthew O’Brien joined Newtown Investment Solutions as vice president and financial advisor. Whit Holden joined as vice president and commercial loan officer.

First Quarter 2016 • Connecticut Banking Magazine

Debra Pelosi

Matthew O’Brien

Whit Holden

Eileen Lee

Amisha N. Tailor

Steven Litchfield

David Zavarelli

Jason Ginsberg

John R. Ciulla

John Olerio

Ray Franz

Salisbury Bank announced the following: Eileen Lee and Betsy Devino announced their retirements. Spring Burke received the Five Star Mortgage Professional Award. Maurice Bowerman joined Salisbury Trust Wealth Advisory Services as vice president and trust officer. Stacey Curtis was promoted to assistant vice president and branch manager. She is a CSFM graduate. Simsbury Bank announced that Byron Treado joined as vice president and commercial relationship manager and Richard Fox joined as a mortgage loan advisor. TD Bank announced the following: Martha Papachristou joined as store manager. Amisha N. Tailor was promoted to assistant vice president and store manager. Steven Litchfield joined as regional vice president for the Greater Hartford region. Union Savings Bank announced the following: Chris Daigle was promoted to senior vice president, regional manager and Reg O Lender, commercial services. Jo-Anne Smith was promoted to senior vice president and regional manager, commercial services. David Zavarelli was promoted to senior vice president, financial advisory services, Raymond James. Jason Ginsberg was promoted to vice

Joe Cox

Betsy Devino

Spring Burke

Maurice Bowerman

Joseph Pugliese and Lurdes Costa

Glenn MacInnes

Terry Mangan

president and head of treasury services. Daniel Silva was promoted to director of technology and data services, information technology. Brian McGuigan was promoted to director of risk management services, credit administration. Mary Kay Duus was promoted to director of credit administration and special assets, credit administration. Laura Szablak was promoted to controller and director of finance. Scott Kozek was promoted to director of learning and development. Rebecca Corna was promoted to assistant vice president, branch manager. Marlene Piche joined as senior vice president, head of branch banking. Jeff McDonough joined as director of human resources. Melissa MacCaull joined as director of marketing. Amy Samson joined as assistant vice president and commercial loan officer. Joseph Pugliese and Lurdes Costa completed the Leadership Danbury program. United Bank announced Stephen F. Roche joined as senior vice president and Greater Hartford commercial banking team leader. Webster Bank announced the following: Jim Smith received the Good Neighbor Award from the Waterbury Neighborhood Council for spearheading a neighborhood revitalization project in Waterbury’s 23

Stacey Curtis

Byron Treado

Richard Fox

Jim Smith

Joseph J. Savage

historic hillside neighborhood. Joseph J. Savage was appointed to executive vice chairman of the bank and the bank holding company and received a Lifetime Achievement Award from the Hartford Business Journal. John R. Ciulla was promoted to president of the bank and the bank holding company and was appointed to the bank’s board of directors. John Olerio received five Top Program Managers awards from Bank Investment Consultant. Ray Franz joined as senior vice president and director of enterprise analytics. Maura Bolduc joined as senior vice president, platform marketing director. Rick Lionhood was named senior vice president, director of banking center administration, Community Bank. Richard Matte was named senior vice president, sales manager, equipment finance, Webster Capital Finance from GE Capital Finance. Michael Bernard was promoted to senior vice president, director of internet marketing. Michael Giusto was promoted to senior vice president, credit executive, CRO Group. Christopher Miller was promoted to senior vice president, relationship manager, Commercial Bank. Sara Woods was promoted to senior vice president, commercial services, CIO Group. Joe Cox and Chris Perry have been named Five Star Wealth Managers in Connecticut. Glenn MacInnes, CFO, was ranked number one for Best CFOs by Institutional Investor magazine. Terry Mangan, senior vice president, was ranked number one for Best IR professionals by Institutional Investor magazine. Westfield Bank announced Allyson Rodricks joined as business specialist.

Connecticut Banking Magazine • First Quarter 2016

Citizens Bank presented a $10,000 contribution to Neighborhood Housing Services which has renovated more than 300 homes and invests nearly $3 million annually in selected New Haven neighborhoods. Bank of America partnered with WTIC to help collect unwrapped toys, nonperishable food items and monetary donations for the Salvation Army, receiving an award for their ongoing support.

Essex Savings Bank’s loan department dressed up in patriotic colors to show support of veterans in honor of the Veterans’ Day holiday.

Essex Savings Bank was honored by the New England Financial Marketing Awards with the Gold level award for overall philanthropy. Essex Savings Bank hosted two Southeastern Connecticut SCORE workshops focused on “Managing your Business Finances – QuickBooks I & II.”

Essex Savings Bank attended the groundbreaking ceremony for the Essex Place housing development for low- to moderate-income for the elderly.

Bank of America volunteers helped to collect turkeys and raised $28,293 in donations for Foodshare for Turkey Tuesday. Berkshire Bank awarded nearly $10,000 to four Connecticut nonprofits. Berkshire Bank’s Military and Veterans Program provided a foundation grant of $7,000 to Soldier On. Berkshire Bank launched its fourth annual “Season of Giving” campaign, where bank employees completed a variety of community service projects throughout cities and towns that it serves.

Chelsea Groton Bank held a ribbon cutting for its new Lending Center and presented a donation to Riverfront Community Center’s Food Bank Fund.

Essex Savings Bank hosted the Visiting Nurses Association of Southeastern Connecticut making it easy for customers and employees alike to receive their inoculations. Essex Savings Bank donated books to Read to Grow.

Essex Savings Bank participated in the first Old Saybrook Chamber of Commerce Scarecrow Contest.

Fairfield County Bank participated in the 7th Annual Amber Room Run from the Sun 5K raising over $4,000 for Ann’s Place.

First Quarter 2016 • Connecticut Banking Magazine

Farmington Bank spread cheer and support for the WTIC Holiday Store Benefitting the Salvation Army.

Fairfield County Bank supported “Ridgefield A Better Chance Summer” Enrichment Scholarship. First County Bank was honored by Waveny Life Care for its long-time support.

Fairfield County Bank sponsored an annual customer reception featuring Lawrence Kudlow, CNBC.

Farmington Bank employees taught financial life skills to elementary school students.

First County Bank joined the Stamford Balloon Parade with Paddington Bear.

First County Bank and the Mark Lapine Endowment for Families in Business hosted The Connecticut Economy and its impact on small and family businesses. First County Bank co-hosted over 140 local nonprofit leaders at its annual event celebrating the good work of local community based organizations.

First County Bank received the Prestigious Women’s Choice Award.

First County made a 400-pound food donation to The Food Bank of Lower Fairfield County. Farmington Bank donated holiday gifts to families through the Prudence Crandall Center’s Holiday Adopt-A-Family Program. First County Advisors hosted a reception and speaker regarding economic topics. First County Bank sponsored Get Into It Free! at Stepping Stones Museum for Children. Farmington Bank opened its first office in Massachusetts and its foundation donated $2,000 to area nonprofit organizations.

First County Bank hosted a real estate event on cultivating new business relationships.

First Niagara and the Governor’s Prevention Partnership announced a $1 million mentoring grant through its Mentoring Matters Program. GPP received a $75,000 grant through the program.

continued on next page

Connecticut Banking Magazine • First Quarter 2016

First Niagara awarded a Mentoring Matters grant of $28,000 to Norwalk Community College Foundation to support a part-time mentoring position with ConnCAS.

Jewett City Savings Bank employees participated in the Griswold Snowflake Festival Parade with bank mascot Stash McCash. First Niagara sponsored a cyber-security and payment fraud workshop for local businesses in Greater Hartford.

Jewett City Savings Bank provided grants totaling $15,800 for six local food pantries.

First Niagara was the presenting sponsor of New Haven Restaurant week and donated $5,000 to the Connecticut Food Bank.

First Niagara sponsored the Norwalk Chamber’s Small Business Development Academy.

Liberty Bank launched a new Twitter campaign to showcase community involvement; all Twitter users are invited to use the hashtag #ihearthelping during community volunteer events.

First Niagara was a sponsor of Milford Restaurant Week and was host to the Milford Chamber’s dining display and raffle.

First Niagara was a sponsor of the Wild Music Exhibit at the CT Science Center.

First Niagara presented the Fairfield Museum and History Center with a $5,000 grant.

Liberty Bankers contributed over $7,600 to see coworkers drenched in ice water and to support the ALS Foundation.

First Niagara presented the Community Economic Development Fund with a $10,000 donation.

Liberty Bank sponsored a Habitat for Humanity home by providing a $25,000 grant for a retired veteran.

First Quarter 2016 • Connecticut Banking Magazine

Liberty Bank’s 12th Thanksgiving Drive raised $267,550 to feed hungry neighbors. Liberty’s 48 branches, along with 34 Rotary Club partners, raised over $214,040, and Liberty Bank Foundation generously kicked in an additional $53,510 in matching funds.

The Milford Bank collected supplies to make Victim Support Packages for the Rape Crisis Center of Milford. Newtown Savings Bank held a Toys for Tots drive in all of its 14 branches to benefit local children in need. The Milford Bank hosted a group of bankers from China to observe how banking tasks are performed in the US.

Liberty Bank Foundation sponsored a tour of affordable housing complexes in southeastern Connecticut to learn how affordable housing can integrate into communities.

Naugatuck Valley Savings & Loan honored military heroes and donated $3,000 to veterans support groups.

Newtown Savings Bank was the title sponsor of the Newtown Holiday Festival to benefit Newtown Youth & Family Services.

Northwest Community Bank provided Explorations Charter School with a $1,640 contribution for school office panic buttons as well as two-way radio sets.

Northwest Community Bank contributed $5,000 to support youth basketball with the Torrington Police Activities League.

Liberty Bank presented the 2015 Willard M. McRae Community Diversity Award to Maria Campos-Harlow as someone who has distinguished herself as a champion of diversity.

Newtown Savings Bank received the 2015 Monroe Business of the Year Philanthropy Award. Northwest Community Bank and Litchfield Bancorp jointly sponsored the 15th Annual BLN Charity Golf Tournament to benefit local charities raising $34,000.

The Milford Bank hosted a Green Fair to bring the community together in an effort to promote recycling, green living, environmentalism and educating children.

People’s United Community Foundation awarded more than $1.1 million to Connecticut nonprofits. Newtown Savings Bank hosted a bank-wide food drive to benefit food pantries in all nine of its branch towns.

continued on next page

Connecticut Banking Magazine • First Quarter 2016

Simsbury Bank hosted flu shot clinics with Farmington Valley VNA.

Simsbury Bank announced the opening of a new residential mortgage loan office.

Union Savings Bank organized the 2015 “Rake n Bake” helping over 70 families with clearing fall leaves. They also partnered with Handy Dandy Handyman as a lunch sponsor to the more than 1,000 volunteers.

People’s United Bank was awarded a $2,500 grant for the bank’s nonprofit of choice, Connecticut Housing Investment Fund, by the Federal Home Loan Bank of Boston. People’s United Community Foundation provided $100,000 to DonorsChoose.org to fund the cost of classroom projects that met its criteria.

Simsbury Bank made a $700 donation to the Simsbury Camera Club in exchange for photos featured in the bank’s 2016 full-color calendar.

Union Savings Bank awarded $500 in their recent Happy Debit Days promotion.

Salisbury Bank kicked off its “We Believe” program, collecting new unwrapped gifts for local children. Salisbury Bank offered free seminars on data security threats and business email fraud. Salisbury Bank offered a free seminar on buying your first home and credit scores. Salisbury Bank kicked off its Fill-The Basket campaign collecting food and donations for local food pantries. Salisbury Bank offered a free seminar on the basics of a checking account.

Simsbury Bank provided a Go Pro Hero camera for the winner of its “Candy Count” contest held at the Simsbury Performing Arts Center’s “Septemberfest.”

Union Savings Bank accepted the Literacy Volunteers on the Green Director’s Award at its 10th Anniversary Gala.

Salisbury Bank announced Shred Days a big success. Savings Bank of Danbury announced “The 2015 SBD Spirit of Giving” Pay it Forward Program by placing envelopes with $50 around its communities and encouraging the winners to share. Savings Bank of Danbury collaborated with Western Connecticut State University in developing an endowed education internship, the first of its kind.

Simsbury Bank held its annual holiday party and its employees continued the tradition of donating toys to support the Salvation Army’s Holiday Store.

Union Savings Bank participated in the United Way Holiday Fruit Basket Project and partnered with the Salvation Army to collect gifts for 225 children, as well as bell ring in support of their many efforts.

continued on page 30

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Connecticut Banking Magazine • First Quarter 2016

Union Savings Bank Foundation hosted an awards breakfast where 28 local organizations were awarded a total of $165,750 to support programs in the communities they serve.

United Bank presented the Hartford Marathon Foundation a $25,000 check for the FitKids in School initiative.

United Bank cut the ribbon to its new commercial banking office in Westport.

Webster Bank presented a $30,000 Community Reinvestment Act-Community Development Grant to Neighborhood Housing Services of New Haven.

Webster Bank launched its 80th anniversary celebration by having Chairman and CEO Jim Smith visit Children’s Community School in Waterbury – the class Webster has sponsored since kindergarten

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Webster Private Bank sponsored the Fairfield 500 Pinewood Derby. The event brought the traditional Boy Scout competition into the business world with businesses sponsoring teams.

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Connecticut Banking Magazine â&#x20AC;˘ First Quarter 2016