First Quarter 2012
BankWorld The Buzz is Back!
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CONNECTICUT BANKERS ASSOCIATION
10 Waterside Dr. Farmington, CT 06032-3083 Telephone: 860-677-5060 • Fax: 860-677-5066 Chairman Martin J. Geitz
Second Vice Chairman Chandler J. Howard
First Vice Chairman John J. Patrick, Jr.
President & CEO Gerald M. Noonan
President & CEO Simsbury Bank
Chairman, President & CEO Farmington Bank
President & CEO Liberty Bank, Middletown
Senior Vice President & Secretary Lindsey R. Pinkham Vice President & Treasurer Thomas S. Mongellow Vice President Colleen E. Clancy
COVER STORY
The Buzz is Back!............................................................................... 16 BankWorld Takes a Gamble and Wins Big
Connecticut Banking is an official publication of the Connecticut Bankers Association and is published quarterly by
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 Lindsey R. Pinkham The Warren Group Chairman Timothy M. Warren CEO & Publisher Timothy M. Warren Jr. President David B. Lovins Finance & Administration Controller / Dir. of Operations Jeffrey E. Lewis Editorial Custom Publications Editor Christina P. O’Neill Associate Editor Cassidy Norton Murphy Advertising & Circulation Publishing Division Sales Manager George Chateauneuf Account Managers Richard Ofsthun Cara Feldman Advertising, Marketing & Events Coordinator Emily Torres Design & Production Creative Director John Bottini Senior Graphic Designer Scott Ellison Graphic Designer Ellie Aliabadi Design Intern Alyssa Sullivan ©2012 The Warren Group Inc. All rights reserved. The Warren Group is 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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FEATURES
CBA Elects Officers for 2011–2012..................................... 4 How to Hire a Chief Risk Officer.......................................... 6 Caught on Camera............................................................ ....8
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Promotable Projects.................................................................. 12 Promotable People..................................................................... 26 3
Connecticut Banking Magazine • First Quarter 2012
CBA Elects Officers for 2011–2012
T
Martin J. Geitz
John J. Patrick
Chandler J. Howard
he members of the Connecticut Bankers Association (CBA) elected its officers for the 2011-2012 term at the Association’s 112th Annual Meeting, held on Nov. 5, 2011. Chairman – Martin J. Geitz, president and CEO, The Simsbury Bank (SBT). Geitz began his banking career in 1981 as a commercial banking officer responsible for large corporate clients with Continental Illinois National Bank. He held a variety of leadership roles at Fleet Financial Group from 1984 to 2000, including Connecticut commercial real estate division head, corporate loan review head, and president of Fleet Development Ventures. Prior to joining SBT in 2004, Geitz worked in banking roles at two insurance companies, MassMutual and Cigna. He is active in the community, serving as vice president of the Connecticut Community Bankers Association; chairman of the board of the Hartford Economic Development Corp.; trustee and treasurer of Simsbury Free Library; and trustee of McLean. He is also a member of the Charter Oak State College Foundation board of directors, and a member of the Simsbury/Granby Rotary Club. Geitz is a graduate of Johns
Hopkins University (BA) and Cornell University Graduate School of Business (MBA). First Vice Chairman – John J. Patrick Jr., chairman, president and CEO, Farmington Bank. Patrick joined the bank as its president and CEO in March 2008, and added the chairman’s title in August 2008. Patrick came to Farmington Bank from TD Banknorth Inc., where he held the position of president and CEO for 10 years. Patrick joined Glastonbury Bank and Trust Co. in 1994, where he served as senior loan officer and then as president, and was instrumental in the bank’s name change to Banknorth Connecticut in January 2002. Patrick currently serves as: director of Vantis Life Insurance Company; director of the Connecticut Business and Industry Assoc.; director of the Hospital of Central Connecticut; trustee of Connecticut Rivers Council of Boy Scouts of America; trustee of Klingberg Family Centers and is a director of CCSU Foundation, Inc. and several other boards. Patrick graduated from Central Connecticut State University with a bachelor’s degree in business administration and received a graduate degree in banking and financial services from
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First Quarter 2012 • Connecticut Banking Magazine
Bentley College. Second Vice Chairman – Chandler J. Howard, president and CEO, Liberty Bank, Middletown. Howard joined the bank as its president and CEO in 2007. He began his banking career as a teller at Peoples’ United Bank in 1974 rising to senior vice president and regional manager. He left in 1996 to join Fleet Bank and served the bank in a variety of leadership roles. In 2004 the bank was acquired by Bank of America and he was named president of the Connecticut market. Prior to joining Liberty, Howard spent time outside of the industry – he was president and CEO of Connecticut Innovations in 2006 and president and CEO of Bank Organizing Committee for First City Fund Corporation, a de novo bank, in 2007. Known for his involvement with community organizations, he has received numerous awards, including the Tapestry Award from the Hartford Courant for his personal and corporate commitment to fostering diversity; the Champion of Children Award from the Village for Families and Children; the Corporate Leader of the Year Award from the Christian Activities Council and, most recently, the Whitney M. Young Service Award from the Boy Scouts. He is always a strong, visible supporter for the United Way. Howard received his BA from UCONN, an MA in finance from Rensselaer Polytechnic Institute and an honorary doctorate from Charter Oak Community College.
At-large seats with terms expiring in October 2012:
George W. Hermann, president and COO, Windsor Federal Savings Michael J. Muzio, president and CEO, Stafford Savings Bank James C. Smith, chairman and CEO, Webster Bank, N.A., Waterbury
At-large seats with terms expiring in November 2013:
Richard J. Cantele, president and CEO, Salisbury Bank and Trust, Lakeville Kevin C. Merchant, president and CEO, Jewett City Savings Bank Stephen P. Reilly, president and CEO, Northwest Community Bank, Winsted
At-large seats with terms expiring in November 2014:
William H. W. Crawford, Rockville Bank Kevin J. Cunningham, president, Bank of AmericaConnecticut, Hartford Edward O. Handy, president, Connecticut, Citizens Bank, New London
Other elected officers include:
Past Chairman, John C. Roman, president and CEO, Naugatuck Valley Savings and Loan President and CEO, Gerald M. Noonan, Connecticut Bankers Association
Legislative Committee Co-chairs:
Rheo A. Brouillard, Savings Institute, Willimantic Charles F. Howell, The Wilton Bank
CONGRATULATIONS TO OUR “NEW LEADER IN BANKING” DEBORAH KANE We’re proud of Deborah Kane, Connecticut Mutual Holding Company/Northwest Community Bank Vice President of Credit Administration, for being chosen a “New Leader in Banking” for 2011 by the Connecticut Bankers Association and Connecticut Banking magazine. We salute Debby for a job well done!
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Connecticut Banking Magazine • First Quarter 2012
How to Hire a Chief Risk Officer By Carll Wilkinson
In addition, the banking industry in general rewards economies of scale – something that is in short supply for institutions under $1 billion (or even $5 billion) in assets. Top-20 banks can have multi-million dollar BASEL II and III budgets with hundreds of high-powered experts at their disposal; community banks obviously do not. Therefore, it is important that small institutions keep feasibility of an ERM strategy top of mind and set the expectations of, and for, a CRO realistically.
Preferable Candidate Traits In the same vein, CRO candidates must possess skills that most directly match the needs and capabilities of the hiring institution. Small community banks and credit unions should consider the following traits when attempting to identify the right candidate: Technical banking skills: The single most important area where most small banks and credit unions can realize an immediate improvement in risk methodology is in the management of credit risk and portfolio concentration. A CRO must be able to accurately calculate likelihood of default and loss given default, with legitimate stress testing. This can create an immediate competitive advantage and add to the institution’s bottom line, as well as make the regulators more comfortable with capital ratio calculations. While it is not realistic to hire a CRO to do original financial modeling (e.g., Quants), they should be able to select a software vendor, use the software and be experts in Excel. The only way to achieve this is with specific expertise in finance, accounting, credit, or asset/liability management. Entrepreneurial attitude: As all community bankers know, sometimes the only way to get a project done is to do it oneself. There are thousands of bankers employed at large financial institutions with superior technical skills who would be lost trying to manage ERM at a small bank with serious resource constraints. A successful CRO needs to be a self-starter and a problem solver who understands that the very best solution may not be the most realistic option for a small bank or credit union, and who can find a way to use available resources to achieve success. Superior communication skills: The active participation and buy-in of stakeholders across the organization, including board directors, senior management and business unit managers, is necessary for the successful execution of an ERM strategy. The best way to achieve this participation is through frequent, open, respectful dialogue, and driving this conversation is one of the key responsibilities of the CRO. Global banking perspective: A CRO can’t be expected to create an ERM methodology and “executive dashboard” if they don’t completely understand the fundamental aspects of a bank and how they work together. While having deep and granular expertise in every functional area of a bank is probably unrealistic, a CRO candidate must at least understand the basics, like the difference between deposit and loan operations, or what “ALM” means.
A
s the concept of enterprise risk management (ERM) continues to gain traction among regulators and community bankers, more small banks and credit unions are considering the addition of a chief risk officer (CRO), but dreading the Carll Wilkinson expense of additional headcount. The solution is to emphasize effective ERM as a competitive advantage. All community banks and credit unions already embrace a culture of internal controls and risk assessment. However, a CRO can make a material difference in two ways: 1) Consolidate line-of-business risk management into a centralized “executive dashboard,” enabling the institution to more strategically manage risk and allocate resources, and 2) Implement sophisticated quantitative models and stress testing to more accurately measure and manage credit risk and interest rate risk, thereby reducing losses, improving net interest margins, bringing additional visibility to capital ratios by line of business and ultimately driving additional earnings.
Size Matters When considering a CRO hire, community banks and credit unions must consider the role they are asking the potential hire to play. This will vary depending specifically on the size of the institution. There are critical differences in the types of risks commonly faced by large and small institutions. Large banks are particularly vulnerable to counterparty risk and liquidity risk (e.g., Lehman Brothers). Small banks, on the other hand, are more prone to credit risk, portfolio concentration and interest rate risk. These considerations need to inform the selection of a CRO. 6
First Quarter 2012 • Connecticut Banking Magazine
Where to Find Candidates
or public accounting firm, or an investment bank, who has community bank-specific ALM experience. In a risk, internal audit, or BASEL department at a regional or national bank: Look for “big bank” talent with community banking experience, but make sure they are enough of a generalist to run ERM without extensive support.
So, where does one find these technically proficient, entrepreneurial, articulate and well-rounded bankers? Since it is not always possible to find someone with previous CRO experience, the search will come down to evaluating transferable skill sets among (mostly passive) candidates. Here are the top five places to look: In a commercial credit or finance/accounting department: Look for a seasoned commercial credit officer or CFO who might relish the challenge of creating an ERM framework. At a public accounting firm: Look for a manager or senior manager in the financial services practice who wants to make a move out of public accounting and into a bank or credit union. At the FDIC, OCC, Federal Reserve, or local FHLB: Look for a credit officer or senior examiner with a combination of internal bank and external regulatory experience. At an asset/liability management service provider or software vendor: Look for an ALM analyst at a consulting
What to Offer Pay will vary based on size and ownership of the institution, its geography, and the experience of the individual, but a realistic base salary range for the skill sets discussed above is between $90,000 and $150,000. u Carll Wilkinson is the managing partner of Executive Search Group, the largest bank-specific search firm in New England. He received his B.A. from Fordham University, Magna Cum Laude, and is a member of the Maine Bankers Association, New Hampshire Bankers Association, Massachusetts Bankers Association, and Connecticut Bankers Association.
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Connecticut Banking Magazine • First Quarter 2012
CONNECTICUT BANKERS
Caught on Camera Essex Savings Bank employees know how to donate! Not only is the bank generous with its donations to over 200 charities, the bank’s employees understand the importance of giving as well. Each year during the holiday season, bank employees rally together as a team to support a worthy cause. This year, each employee donated an entire grocery bag filled with non-perishable items for those less fortunate. Recipients included the Shoreline Soup Kitchen, the Westbrook Soup Kitchen and the Madison Food Pantry. Bank officers transported almost 70 bags of food to these organizations.
Pictured by the donated goods are Senior Vice President Lynn Giroux and Loan Servicing Representative Kathy MacArthur.
Farmington Bank’s Gregory A. White, executive vice president, chief financial officer and treasurer was selected as a CFO of the Year by the Hartford Business Journal. The award was presented to White as CFO of the Year in the category of a public business. “Greg’s strategic vision, team-building skills and unwavering commitment to excellence make him a valued and respected member of the Farmington Bank team,” said John J. Patrick, Jr., chairman, president and CEO of Farmington Bank. “Greg’s leadership and character skills are also displayed in his community, all of which make him a very deserving recipient of [this] award.” Shown with White, center, at the publication’s recent awards ceremony are, from left, Gail Lebert, publisher of the Hartford Business Journal and Scott Trenholm, office managing partner of CCR, LLP, the sponsor of the event.
Eastern Federal Bank ’s President and CEO Gerald D. Coia was appointed to the Independent Community Bankers Association’s board of directors. “I am honored to be appointed to this position,” Coia said. “It gives me a chance to work for community banks across the country that practice trusted, common-sense lending and offer handson personal service and invaluable financial expertise to local consumers and small businesses.” In addition to helping shape and advocate ICBA’s national policy positions and programs, Coia’s duties include being a liaison between independent community bankers in Connecticut and ICBA staff and leadership in Washington, D.C. He will also work to recruit new members to ICBA.
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First Quarter 2012 • Connecticut Banking Magazine
Pictured, from left: Karen Kelly, senior vice president and chief marketing officer; William D. Novelli, professor of the practice, McDonough School of Business, Georgetown University; Katherine Harris, president and COO; and Rey Giallongo, chairman and CEO.
Shown with Mitchell (center) from left: Mark Macomber, former president and CEO, and Don Mayland, chairman of the board.
Litchfield Bancorp – After 30 years as assistant to the CEO and corporate secretary, Marilyn Mitchell retired at the end of December. Mitchell has held a number of positions at the bank over the course of three decades, including most recently as assistant to recently retired President and CEO Mark Macomber. The two began working together when Macomber was appointed president and CEO in 1994 and Mitchell was named his assistant. “Marilyn has been my right hand for 18 years and has made me a more effective president and the bank a better bank,” Macomber said. “She was professional, highly responsive and dedicated to our institution.”
First County Bank Foundation celebrates its 10th anniversary. The foundation, which awarded 108 grants totaling more than $591,000 in 2011, played host to more than 55 nonprofit organizations at its third annual Celebration of Mutual Partnerships. Keynote speaker Bill Novelli, former CEO of AARP, who leads the Global Social Enterprise Initiative at the McDonough School of Business at Georgetown University, joined the celebration with insight on ways businesses and nonprofits can work together to foster economic, environmental and social progress.
Guilford Savings Bank – A video created by local teens Alyssa Crespo and Heather O’Connell has been chosen as a finalist in the American Bankers Association Education Foundation’s “Lights, Camera, Save!” national video contest for a chance to win a $3,000, $1,500, or $500 U.S. savings bond. The video was submitted to Guilford Savings Bank in October and was selected by a panel of local judges as a winner. The pair will receive a $1,000 savings bond from Guilford Savings Bank for achieving first place on the local level. After winning the first round, their video was entered into a national contest and was selected as a top 12 finalist from videos submitted by more than 175 participating banks. The video is the only entry from New England to make it into the top 12. “We are thrilled to see Alyssa and Heather progress to the top 12 in this competition for their creative video, ‘Saving for Something Bigger,’” said Margaret Livingston, president and CEO.
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Connecticut Banking Magazine • First Quarter 2012
Saving Bank of Danbury’s Southbury office held a flu shot clinic for the public in conjunction with Western Connecticut Home Care. Assisting with the flu shot clinic were, from left to right: Nancy Coviello, RN; Judy Becker, manager of marketing and development for Western Connecticut Home Care; Lyn Meeker, RN; and Cindy Smilowitz, branch operations manager, Savings Bank of Danbury Southbury Branch. In addition, the branch hosted a shred-day and a food drive to benefit the Southbury Food Bank.
Stamford First Bank’s Vice President Robert Hagan joined the board of the March of Dimes of Fairfield County. The March of Dimes’ mission is to improve the health of babies by preventing birth defects, premature births and infant mortality. The organization carries out this mission through research, community services, education and advocacy to save babies’ lives. The March of Dimes held an auction at Rockrimmon Country Club on Nov. 14, featuring (from left to right): Mike Murray, Mayor Michael Pavia, Chris Meek, March of Dimes Executive Director Greg Plage and Bob Hagan.
Rockville Bank – In a twist on a traditional ribbon cutting ceremony, local business, community and government leaders cut a ribbon of $1 bills at a grand re-opening of Rockville Bank’s new Lafayette Square branch at 20 Hyde Ave. in Vernon, Conn. The newly built office was constructed in the same location as the building that was demolished in May. This past January, Rockville Bank closed its Lafayette Square office because of roof damage related to the region’s record heavy snow. Since then, a temporary Lafayette Square branch had been open at a nearby location. Cutting the ribbon of $1 bills is William (Bill) H. W. Crawford, IV, president and CEO of Rockville Financial, Inc., the parent of Rockville Bank.
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PromotableProjects Illustrating the many bank projects designed to assist the people and communities that the industry collectively serves.
Pictured from left to right: Mike Brett, executive director, Hartford Area Habitat for Humanity; Cary Wheaton, executive director, Billings Forge Community Works; Kara Sundlun, Eyewitness News Anchor, WFSB; and Kevin Cunningham, president, Bank of America – Connecticut.
Bank of America presented two nonprofits with $200,000 in unrestricted funding and leadership development training in recognition of their commitment and leadership in the Hartford community in the Fall of 2011. This program is offered in both Hartford and Fairfield County. Since its inception in 2004, Bank of America has now committed over $5.8 million to nonprofits in Connecticut through the Neighborhood Excellence Initiative Program.
Farmington Bank – The U.S. Marine Corps Reserve in Plainville received more than 700 gifts for their Toys for Tots holiday collection drive from the employees, customers and friends of Farmington Bank and its 16 branch locations. In addition, the Farmington Bank Foundation, the charitable arm of Farmington Bank, donated $5,000 to help the Marines purchase more toys. Both the toy and cash donations will help make the holidays brighter for less fortunate children and families in six Connecticut counties. Pictured receiving Farmington Bank’s toy and cash donations are, from left, Corporal Alejandro Carrizales and Sgt. Jonathan Minkler, both from the U.S. Marine Corps Reserve in Plainville. 12
Essex Savings Bank contributed $255,700 to charity. Gregory R. Shook, president and CEO of Essex Savings Bank recently announced, “We are extremely proud to report available contributions of $255,700 from our Community Investment Program in our 161st year.” The bank annually commits 10 percent of its after tax net income to qualifying organizations within the immediate market area consisting of Chester, Deep River, Essex, Lyme, Madison, Old Lyme, Old Saybrook and Westbrook. This program provides financial support to over 200 non-profit organizations who offer outstanding services to the ever-increasing needs of our communities. By year end, a total of $3.42 million will have been distributed since inception in 1996. Essex Savings Bank customers determine 30 percent of the fund allocations each year by voting directly for three of their favorite causes, charities or organizations who have submitted applications to participate. Ballots will be available at all Essex Savings Bank offices between February 1 and March 15 to determine an allocation of $76,710. The bank’s directors, senior officers and branch managers distribute the remaining 70 percent, or $178,990. First County Bank launches financial literacy program for adults. First County Bank teamed up with area non-profits including CTE and Domus to teach citizens of all ages in lower Fairfield County how to manage their every day financial challenges and opportunities. First County Bank volunteers help adults understand basic financial topics, including spending plans, the importance of saving, how to obtain and use credit effectively, and the basics of building or repairing credit. First County Bank is also working with area youth teaching Get Smart About Credit lessons that are based on the American Bankers Association Education Foundation’s Get Smart About Credit program.
First Quarter 2012 • Connecticut Banking Magazine
Pictured, front row, from left to right: Stella Dawley and Harriett Rosiene, Preston City Congregational Church Food Pantry; and Laura Kroll, Friends of Assisi Food Pantry in Danielson. Back row, left to right: Phyllis Jaeger and Brenda Tupaj, Community Kitchens of Northeastern CT; Kevin Merchant, foundation president; Garry Brown, town of Pomfret Food Pantry; and Paul Baillargeon, St. Mary Food Pantry in Jewett City.
Pictured, from left to right: Paula Ferrara, Estuary Council of Seniors; Margaret Livingston, GSB; Tammy DeFrancesco, Guilford Food Bank; Pat Kral, Community Dining Room; and Tim Geelan, GSB. Photo Courtesy of Kelly Smith, The Courier
Guilford Savings Bank Due to the crucial need for donations food pantries were faced with this past holiday season, Guilford Savings Bank donated $5,000 to five local food pantries so they could stock their shelves in time for the holidays. $1,000 went to each of the following: Branford Food Council, Community Dining Room of Branford, Guilford Food Bank, Madison Community Services and Estuary Council of Seniors of Old Saybrook.
The Naugatuck Savings Bank Foundation recently announced its third annual community awards program, which allows Naugatuck Savings Bank customers to decide how the foundation awards $50,000 in grant money to local nonprofit and charitable organizations. Last year the foundation awarded grants to 35 local charities under this program. “As a leading corporate citizen, we believe we have a responsibility to help the communities we live in by assisting non-profit organizations meet their funding needs,” said Mark C. Yanarella, Chairman and CEO of Naugatuck Savings Bank. “We value the opinions of our customers so our foundation wants them to help us determine what local organizations are most deserving of grant money.” The votes will be tabulated in April 2012 and those organizations with the required 1 percent of total votes will receive a proportional share of the $50,000 with a maximum award of $5,000 per organization. Also, there will be a special award of $500 to six randomly selected eligible organizations that receive less than the required 1 percent of the votes.
Jewett City Savings Bank Foundation – Kevin C. Merchant, president of the Jewett City Savings Bank Foundation, announced recently that $13,000 was awarded to five area food pantries in the foundation’s most recent round of funding. Nearly all of the recipients accepted their foundation awards at a reception held in early December. One exception was the St. Mary Food Pantry in Jewett City, whose $5,000 grant was delivered early, after the bank learned that the pantry did not have the donations or resources to provide Thanksgiving holiday foods to those in need. The grants awarded by the Jewett City Savings Bank Foundation in 2011 totaled $52,300, supporting a variety of community initiatives in the bank’s marketplace.
Liberty Bank donated $5,000 to Covenant To Care and collected warm clothing for children in need. The bank presented a $5,000 check on behalf of its customers to Bloomfield-based nonprofit Covenant to Care for Children. The organization used the donation to buy holiday gift cards for teenagers in the care of the state who are neglected, abused or at-risk. “We want to show our sincere appreciation for our customers, support for our communities and, at the same time, help local children who might otherwise be forgotten during this holiday season,” said Chandler J. Howard, president and CEO of Liberty Bank. To supplement the monetary gift, the bank also held a children’s hat, mitten and scarf drive at its 46 locations throughout central, eastern and shoreline Connecticut. In all, employees and customers donated over 715 items of warm clothing – many of them handmade – which were also turned over to Covenant to Care for Children. continued on page 14
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Connecticut Banking Magazine • First Quarter 2012
PromotableProjects continued from page 13
Pictured, from left to right: David Wolff, chief development officer, ARC Connecticut and Rhode Island Region; Joe Kirk, Wells Fargo’s regional president for NY and Conn.; Interim ARC Connecticut and Rhode Island Region CEO Mario Bruno; and Kent McClun, Wells Fargo’s community bank president for Connecticut.
Wells Fargo recently made a $50,000 donation to support American Red Cross disaster relief work in Connecticut. The gift is supporting the ongoing operations of the Red Cross in the wake of October’s devastating snowstorm. “Long after all the power has been restored,
Connecticut residents are feeling the impact of the storm considering all the damage which resulted to personal belongings and property,” said Joe Kirk, Wells Fargo’s Connecticut and New York regional president. “Understanding that it will take a while for life to return to completely normal for many, we decided to make this $50,000 donation to the Red Cross so that those still in desperate need of assistance can take advantage of the multitude of services the organization offers during critical times.” During the aftermath of the storm, when many were without electricity or were affected by the storm in other ways, Connecticut’s 1,500 Wells Fargo team members worked around the clock – often in stores with no power, phone or computer service – to ensure that the needs of its customers went uninterrupted.
Salisbury Bank urged people to help “Fill the Basket” with food for those in need. Continuing the bank’s tradition of helping those less fortunate, Salisbury once again placed baskets in each of its eight branch offices and encouraging people to help fill them with non-perishable items (or, if they prefer, to make a cash donation instead). The money, food and household necessities collected at each location were given directly to the food pantry that services that area. “We were grateful to be able to partner once again with local food pantries to help those in need,” said Rick Cantele, president and CEO of Salisbury Bank. “This is a very worthy program that helps provide our neighbors with life’s basic necessities. Reaching out during the winter and the holiday season is especially important.”
The Savings Bank of Danbury Foundation awarded $131,000 to 44 agencies at receptions held in both Waterbury and Danbury in early January. A committee of Savings Bank of Danbury corporators, directors and bank officers administer the SBD Foundation. The 2011-2012 grants help support agencies in the areas of education, arts and culture, community and economic development and health and human service. Hal Wibling, president and CEO of Savings Bank of Danbury stated: “For 162 years, Savings Bank of Danbury has had a keen focus on community and service. In fact our bank’s mission statement is ‘we are about people serving people,’ and this is the measure of our success. We value our role in providing our neighbors and communities with exceptional bank products and services, and we are pleased to support our community through contributions, grants and volunteerism.”
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The Savings Institute Bank & Trust Company – The bank’s Employees’ Caring & Giving Program recently awarded thirdquarter contributions of $3,500 to 11 charitable organizations. “Our employees have again distinguished themselves through their generosity to those in need,” said Bill Anderson, Caring & Giving chairperson. “The people who have made these contributions work hard for the money they earn. Their contributions represent sacrifices they’re making for the benefit of others, and I am proud of the tone their selflessness sets as we move into the busy, holiday season.” The Caring & Giving program has made donations totaling over $150,000 since its inception in 1998. Bank employees created the program as a way of self-directing their yearly charitable contributions. In 2011, employees donated more than $16,500 to assist organizations that address such issues as families in need, hunger and homelessness, helping the elderly and assisting individuals with disabilities or special needs. Mark Light, SIBT Willimantic Branch manager presented a donation to Diane Potvin, Windham Recovery Community Center Manager, and Kathleen Wyatt, Windham Volunteer Coordinator. Both represent the Willimantic Office of Connecticut Community for Addiction Recovery.
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THE
BUZZ IS BACK!
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ajor changes to timing, location and structure paid off for BankWorld – taking place this year in January at the MGM Grand at Foxwoods, BankWorld attracted more than 1,100 excited attendees. The largest banking expo in New England took place earlier this year compared to 2011, and ran concurrently with the New England Mortgage Expo, the New England Financial Marketing Association (NEFMA) Winter Conference, and the appraisal industry’s Economic Outlook & Agency Update. The change in venue and timing drew more than 300 more attendees versus last year. Sessions covered topics ranging from new views on mobile banking and enterprise risk management and security, to strategic sessions on improving checking account profitability and realigning bankers’ vision about M&A activity and being change agents. Speakers Ed Hjerpe, president of the Federal Home Loan Bank of Boston, and Catch Me If You Can fraud expert Frank Abagnale, drew packed crowds. Partnerships with the other conferences gave BankWorld attendees the opportunities to hear as Washington Post columnist Kenneth Harney; Theodore Tozer, president of Ginnie Mae; bank-culture guru Roxannne Emmerich; Frank Nothaft, senior vice president of Freddie Mac; and National Association of Realtors Economist Lawrence Yun. Prior to the day-long conference, 15 New Leaders in Banking were feted with a reception, dinner and awards ceremony. Read their journeys to the tops of their profession, in their own words, on page 18. u
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BankWorld Takes a Gamble and Wins Big
NEW LEADERS HONOREES
MEET THE FUTURE OF CONNECTICUT BANKING
William Placke and Steven Araujo
STEVEN ARAUJO
Age: 30 Title: Assistant Vice President of Deposit Operations and Compliance Officer Bank: Start Community Bank Bank location: New Haven Town of residence: Wallingford Career highlights: Having worked for both large and small financial institutions, I have been most challenged by the opportunity to work at a de novo. Starting from scratch is an overwhelming experience. To know that you play a vital role of the daily operations and success of an organization is amazing. Community involvement: I have been involved with many different organizations in the area associated with the Portuguese community since childhood. Working for a community development bank keeps me busy with many different community organizations and events. Biggest success: Dedication and hard work allowed me to evolve what I considered to be a job at a bank to a career as a “banker” within only a few years. Earning the designation of compliance officer early in my career was a great achievement. Dream job: A childhood dream to become an architect still lives within. If you weren’t doing the job you’re doing now, what would you do? Having had the opportunity to work in many different areas of a bank, and intrigued by investigative crime television, I would love to work in the fraud department of a large financial institution.
Rheo Brouillard and Bill Anderson
WILLIAM E. ANDERSON JR.
Age: 42 Title: Senior Vice President of Retail Banking Bank: Savings Institute Bank & Trust Company Bank location: Willimantic Town of residence: Windham Career highlights: While attending UConn, I worked at Liberty Bank and Northeast Savings. Since joining Savings Institute in 1995, I’ve served as branch manager, branch administrator, and currently retail banking officer. I graduated from National School of Banking and ABA School of Bank Marketing and obtained my MBA from Fairfield University. Community involvement: Giving back to the community is very important. I currently serve on the board of directors for Natchaug Hospital and as a member of the Quinebaug Valley Community College Foundation. I also serve on the Economic Development Commission for the town of Windham and as a corporator for Windham Hospital. Biggest success: We all have successes each and every day in our professional and personal lives. I’m proud of the achievements in my career; continually increasing responsibilities and educating myself. Personally, I take pride in my 17-year relationship with my partner, Tim, and the completion of a marathon under four hours. Dream job: I aspire to lead a community bank in the role of president and CEO. If you weren’t doing the job you’re doing now, what would you do? As a child I thought about becoming a teacher. Sharing information with others to assist with the development of decision making skills is inspiring to me. I would find it rewarding to take the knowledge I’ve gained over the years to teach others.
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KYLE J. EAGLESON
Peter Sposito and Rachel Carlson
RACHEL CARLSON
Age: 32 Title: Information Security Officer and IT Manager Bank: Bankers’ Bank Northeast Bank location: Glastonbury Town of residence: Manchester Career highlights: I have worked for Bankers’ Bank Northeast for the past 11 years and have advanced within the company from operations specialist to my current position of IS officer. I have had the opportunity to achieve ICBA’s Certified Community Bank Technology Officer certification as well as the GIAC Security Leadership (GSLC) certification. Biggest success: As the bank has grown, I have been tasked with increasing responsibility, including developing and implementing a new business continuity plan, an IT technology strategic plan, and developing new services for the bank. Dream job: To work in a place with a big IT area and technology closely follows and/or leads business growth. If you weren’t doing the job you’re doing now, what would you do? I would probably start a small business selling gourmet foods.
Kyle J. Eagleson
Age: 32 Title: Assistant Vice President and Finance Manager Bank: Guilford Savings Bank Bank location: Guilford Town of residence: Durham
Career highlights: I have worked for Guilford Savings Bank for the past three years as finance manager. In this role I assist with the financial planning of the bank, focusing on income simulations, wholesale borrowing and funding strategies, credit analysis of the securities portfolio and managing the secondary market loan sales operation. Recently I have become more involved with strategic planning with active participation in the ALCO, Products and Services and Pricing committees. Community involvement: Community involvement has always been important to me, but the significance of re-investing in the community became evident in my first few years at GSB. Throughout my life, I have always been involved with local athletics, typically in a coaching capacity. When I arrived at GSB, I was encouraged to use my talents to benefit local non-profits. I currently serve as treasurer and board member for Guilford Fund for Education, and I’m involved in a weekly youth mentoring program at Guilford Public Schools. I’m also a board member of the Eagle’s Cup Classic, a nonprofit golf committee which provides tuition assistance for local college bound students with financial need and make annual donations to the Middlesex YMCA. Biggest Success: My biggest success so far is not career-related, and has to be the health and the happiness of my family. I have a wonderful wife and two beautiful children. Dream job: In childhood many young boys (myself included) dream about making it to the big leagues; to hit the walk-off home run or to sink the buzzer-beating three-point shot and set a stadium of 40,000 fans afire. As we grow older we quickly realize it just not in the cards. All dreaming aside, I believe I’m on the path to attaining my dream job at Guilford Saving Bank. At the risk of sounding cliché, I work with a great group of people that encourage, educate and empower. It’s difficult to quantify the experiences of working with the CFO, chief lending officer, and executive vice president on an almost daily basis. I am constantly inspired by their knowledge and passion. The educational opportunity is truly phenomenal. And now helping the bank attain that lofty net interest margin is my equivalent of a walk-off home run! If you weren’t doing the job you’re doing now, what would you do? Most likely trading bonds and being at the mercy of interest rates, which over the past couple of years has been a favorable situation.
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Stephen Lewis and Jonathan Gilbode
Deborah Kane and Stephen Reilly
JONATHAN T. GILBODE
DEBORAH A. KANE
Career highlights: Starting in 2006 as a newcomer to the banking industry, I challenged myself to learn as much as possible with the aspiration of advancement within TSB. Over the past six years, I’ve progressed from teller to branch administrator and now manage the bank’s growing branch network. The highlight of my career thus far has been becoming a bank officer.
Career highlights: I have been involved in banking for over 25 years and have been with Northwest Community Bank since 2000. In 2001, NCB and Litchfield Bancorp formed the CT Mutual Holding Company to join together and benefit from the economies of scale available to larger institutions. I have been fortunate to work at the holding company level and oversee the commercial credit risk for both banks and since 2010, Collinsville Savings Society, a third bank to join the holding company.
Age: 49 Title: Vice President of Credit Risk Bank: CT Mutual Holding Co. Bank location: Winsted Town of residence: Winsted
Age: 27 Title: Assistant Vice President and Branch Administrator Bank: Thomaston Savings Bank Bank location: Thomaston Town of residence: Watertown
Community involvement: I am a current member and former director and treasurer of the Animal Rescue Foundation – a non-profit, non-destroy animal shelter.
Community involvement: Over the years I have been involved in various community activities, currently I am on the board of directors at The Beardsley Memorial Library, I am the treasurer at The First Church of Winsted and chairman of the Property Maintenance Board. I have chaperoned and led youth trips for the last five years to southern Mexico, working at an orphanage, building houses and helping with food distributions in the jungle.
Biggest success: My biggest success has been pursuing higher education and attending the Connecticut School of Finance and Management concurrently. I graduated from CSFM in April 2011 and will graduate with a bachelor’s degree in business administration from Western Connecticut State University in May 2012. Applying theories and concepts learned from both educational experiences has been empowering.
Biggest success: After being out of the academic arena for many years, in 2009 I graduated with honors from the American Bankers Association, National School of Banking.
Dream job: My dream job is one that would allow me to continue to work with the best and brightest bankers and have a positive impact on consumer sentiment towards our industry.
Dream job: I have worked at many banks over the years that have been purchased and sold, and being able to work in my hometown at a community bank that serves the needs of the local community is my dream job.
If you weren’t doing the job you’re doing now, what would you do? I would be a pilot so I could earn a living by travelling the world.
If you weren’t doing the job you’re doing now, what would you do? Volunteering in the community helping those in need.
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Carrie LeBlanc and George Hermann
Alexander Masse and Michael Rauh
CARRIE LEBLANC
ALEX MASSE
Career highlights: I was hired right out of high school for a position in the bank’s Bookkeeping Department. Over the years bookkeeping turned into back office operations and something new called “IT.” I just celebrated my 25th anniversary with the bank and am responsible for the Operations and IT departments.
Career highlights: I’ve worked for Chelsea Groton Bank for 13 years, and in this time I’ve had the opportunity to elevate my career from bank teller to vice president. Along with my supervisor, I lead a team of 125 retail banking team members throughout 14 branches in Southeastern Connecticut.
Community involvement: I have participated in and raised funds for MS Walk and the American Cancer Society’s Relay for Life. Additionally I have served on the Suffield Chamber Board and participate in community events such as Suffield on the Green and the Suffield Showcase.
Community involvement: Throughout my career, I’ve served with the Niantic Rotary Club, and have been involved in various community events that have been run through Chelsea Groton Bank over the years.
Age: 43 Title: First Vice President Bank: The First National Bank of Suffield Bank location: Suffield Town of residence: Windsor
Age: 36 Title: Vice President and Assistant Director of Retail Banking Bank: Chelsea Groton Bank Bank location: Norwich Town of residence: Sprague
Biggest success: In 2010, I was charged with heading up a program within the retail banking department that was designed to provide branch employees with a better understanding of what customers want from their bank. The goal was to achieve a higher degree of personal service to meet customer needs. The program was well received, and the bank has grown thanks to our focus on service.
Biggest success: I work for a small community bank (under 50 employees) with four offices. Since I joined the bank, we have gone from a service bureau environment to full in-house processing. I am proud that the technology we’ve introduced over the years allows our bank to run so efficiently. Dream job: Start my own business in prepared foods or possibly in-home parties.
Dream job: I’ve always said that Chelsea Groton Bank is the only place I ever want to work. To that end, my dream job is to one day have the knowledge and skills to be the president of Chelsea Groton, and follow in the footsteps of my current leaders.
If you weren’t doing the job you’re doing now, what would you do? I’d love to buy a cabin on my favorite lake in Maine and enjoy a slower-paced life.
If you weren’t doing the job you’re doing now, what would you do? If money were no object, there’s nothing I’d rather do than be home with my two boys, who are 2 and 5. When I am home with them on a day off, it’s the most rewarding way my time could possibly be spent. They amaze me every day.
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Amy Raymond and Richard Cantele
Charles Boulier and David Rotatori
AMY RAYMOND
DAVID J. ROTATORI
Career highlights: Having been at Salisbury Bank for over 10 years, I have had the pleasure of forming a strong, goal-orientated department with dedicated employees and an exemplary support staff throughout the rest of the bank. My team and I have consistently achieved our goals both in sales and excellent customer service. We maintain a 99 percent satisfaction ratio as we guide our clients through the mortgage process.
Career highlights: I am currently responsible for commercial loan administration, compliance, loan review and corporate secretary functions. I’m also a CPA with more than 20 years of experience in financial services organizations. I started my career with Naugatuck Savings Bank as an accounting clerk and internal auditor. Before rejoining Naugatuck Savings in 2009, I was at People’s United Bank as vice president and finance officer. Prior to that, I was vice president and assistant controller at Webster Financial Corporation and a senior auditor at KPMG.
Age: 40 Title: Vice President of Mortgage Originations Bank: Salisbury Bank Bank location: Lakeville Town of residence: Copake Falls, NY
Age: 39 Title: Senior Vice President, Chief Risk Officer and Corporate Secretary Bank: Naugatuck Savings Bank Bank location: Naugatuck Town of Residence: Naugatuck
Community involvement: As the CRA officer for the bank I am exposed to many community organizations. I designed our “First-Time Homebuyer” program to assist our local community residents achieve their dreams of homeownership. We have had overwhelming success and satisfaction. Salisbury Bank has brought the “Teach the Children to Save” program into the local schools and I enjoy volunteering my time to the students. I also enjoy volunteering my time on my children’s school financial board.
Community involvement: I serve on the United Way Board of Directors and was chairman of the United Way 2011 Campaign; I’m a coach with Naugatuck Youth Soccer Coach; and serve on the Naugatuck Economic Development Committee Board of Directors. I’m also a member of the Connecticut Society of Certified Public Accounts, the American Institute of Certified Public Accountants and the Beta Gamma Sigma International Honor Society.
Biggest success: Managing work and family life with a smile and refusing to take anything less than what I set out to achieve. I truly enjoy my family, my job, my coworkers, and LIFE.
Biggest success: general ledger and core conversion while working at Webster Bank.
Dream job: I am doing it. If you weren’t doing the job you’re doing now, what would you do? Own my own venture capital firm, locating start-up funding for small businesses and independent companies.
Dream job: Since I first worked at Naugatuck Savings Bank during college, I have always hoped to be the president/CEO of a similar bank. If you weren’t doing the job you’re doing now, what would you do? I would be an architect or electrical contractor. My older siblings are all in the construction and contracting business.
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Jay Lent and James Rusiecki
Robert Macklin and Jorge Santiago
JAMES B. RUSIECKI JR.
JORGE SANTIAGO
Age: 38 Title: Vice President and Corporate Services Department Manager Bank: Union Savings Bank Bank location: Danbury Town of residence: Southington
Age: 39 Title: Senior Vice President Bank: The Milford Bank Bank location: Milford Town of residence: Milford Career Highlights: I have had the great pleasure of working for The Milford Bank for the past six years. In that time, I have had the opportunity to build a call center and open three new offices. The most recent office has been our first office inside a supermarket.
Career highlights: I joined the bank in October 1994 as a part-time teller, while finishing college. I subsequently held the positions of corporate services specialist, cash management officer, assistant vice president of corporate services, vice president of sales manager corporate services, and was promoted to my current position of vice president and corporate services department manager in April 2011.
Community involvement: In my time with The Milford Bank I have had the opportunity to work with many great local leaders and community organizations. Presently, I am president of The Boys & Girls Club of Milford, treasurer of the Get In Touch Foundation, and executive board member of the Stratford Chamber of Commerce.
Community involvement: I am a member of the Boston-based New England Automated Clearing House (NEACH) Rules Committee and have been a presenter at the last four NEACH Super Days conferences. I am a member of the Charity Relations Committee of Community Health Charities, a board member of the Latino Scholarship Fund, and am an active board member and coach of my children’s baseball and football organizations. I was recently invited to take part as one of three panel members invited to participate in the taping of a merchant processing segment for the US Bank Exchange Conference.
Biggest success: I am most proud of the growth I have seen in the bank and my staff. We have opened three offices in the past six years and two of them are in a new market for the bank. Being able to serve a new community is exciting, rewarding and strategically important to the bank’s future. Dream job: I would love to continue to refine my skills and grow my knowledge base to be president of The Milford Bank.
Biggest success: I played an instrumental role in USB’s recent acquisition of The First National Bank of Litchfield, creating, coordinating and executing a successful cash management systems conversion of over 150 customers. Along with my team, I worked to train all businesses affected both through WebEx training and in-person, hands-on meetings. I also managed the successful reinstallation of 63 remote deposit customers in a two-day period.
If you weren’t doing the job you’re doing now, what would you do? I have various securities licenses (Series 7, 63, 65 and 24) that were part of my job prior to joining The Milford Bank. If I was not fortunate enough to be working at my current job, I would likely be in the securities industry.
Dream job: My dream job is to play first base for the New York Yankees, but in the real world banking is in my blood. I will continue to strive to meet all of my professional goals and expectations. Being part of the management team will always be a role I play. I hope to continue to plan, grow and succeed with Union Savings Bank. If you weren’t doing the job you’re doing now, what would you do? I would be a professor. As an educator, I would enjoy shaping the minds of future generations and passing along my knowledge to future leaders.
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Ken Sklodosky and Martin Geitz
Michael Rauh and Jessica Todd
KEN SKLODOSKY
JESSICA TODD
Career highlights: I have worked for Simsbury Bank as a senior market manager for the past four years. Simsbury Bank has afforded me the opportunity to grow my career through involvement in special projects like system upgrades, proposal requests for payroll services, lockbox services and other bank wide initiatives.
Career highlights: In March 2003, I obtained my CPA license. This designation has helped me to advance within the bank to my current position as comptroller.
Age: 37 Title: Senior Market Manager and Assistant Vice President Bank: Simsbury Bank Bank location: Bloomfield Town of Residence: Andover
Age: 34 Title: Vice President and Comptroller Bank: Chelsea Groton Bank Bank location: Norwich Town of residence: Niantic
Community involvement: I am the treasurer of The Creative Playschool, a co-operative preschool, as well as a member of the PTA at Niantic Center School.
Community involvement: I am president of the Bloomfield Rotary Club, where I have served for the past four years as board member and treasurer. I serve as financial secretary of Christ Lutheran Church in Hebron. I have volunteered for Habitat for Humanity, Room with a New View, and March of Dimes.
Biggest success: I have helped to automate many manual processes within the accounting and finance departments. This has allowed us to hold staffing levels constant while providing greater information to end users.
Biggest success: In four years, I have developed two employees into management positions. I attended the CT Banker’s Association’s School of Finance and Management, where I graduated at the top of my class, earning the John C. Shortell award for outstanding academic achievement and the Michael J. Piette honors award.
Dream job: As the banking industry continues to evolve, I look forward to new challenges and responsibilities. If you weren’t doing the job you’re doing now, what would you do? After graduation, I planned to work for a few years to gain “real world” experience and then return to academics as a professor of accounting. It turns out that I really enjoy the “real world,” and have stayed for 12 years.
Dream job: My dream job is to work at an institution that is as committed to helping me improve and develop my career as I am. I think I’ve found that at Simsbury Bank. If you weren’t doing the job you’re doing now, what would you do? I can’t imagine doing anything other than what I do now. My favorite hobby is gardening. I take great pride in growing my own food. I love the taste of fresh fruits and vegetables straight from the garden. My retirement plan includes moving somewhere warm enough to garden year-round.
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NICHOLAS J. STATOULAS
Age: 41 Title: Vice President and Project Manager Bank: Rockville Bank Bank location: South Windsor Town of residence: Manchester
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Career highlights: I have worked at Rockville Bank for 15 years, starting off a branch manager and working through the ranks to lead manager, then vice president of retail sales and service. This past year I have taken on a new challenge as vice president and project manager, which has afforded me the opportunity to work with all areas of the bank. It is quite challenging, as well as rewarding, to experience firsthand the unique skills each member of the bank team brings to their respective departments. Community involvement: I am involved with Hockanum Valley Community Council, a local human services agency in Vernon, having begun my term as board president this past July. Beyond that I have been a board member for this fine agency for over seven years. HVCC provides a multitude of services including a food pantry, elder services, counseling department, as well as Dial-a-Ride transportation services for Vernon and surrounding towns. Biggest success: My biggest success has been working with the great staff and customers of Rockville Bank for the last 15 years. In that time I have seen the bank grow from a seven-branch network to the current 21-branch institution. One challenge when growing at that pace is trying to maintain the personalized customer focus of a small community bank. Because of my determination, as well as that of my bank co-workers, we have been able to sustain the community bank culture for longstanding customers, as well as those new to Rockville Bank. Dream job: I am at my dream job. I have been in banking since I graduated from UConn in 1992. Perhaps one day if an opportunity arose to run my own community bank and give back the communities we serve, similar to what we do currently at Rockville Bank, that would be a challenge I would welcome. If you weren’t doing the job you’re doing now, what would you do? I would probably be an attorney. Ever since I was a young man, the principals of law and fighting for what is right have fascinated me and, given the opportunity to do things differently, that would be something I would like to explore.
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PromotablePeople Recognizing the career milestones of the people who contribute to Connecticut’s banking industry. Webster Financial Corporation, the parent of Webster Bank, announced that Gerald P. Plush has been promoted to president of the holding Gerald P. Plush company and the bank. In addition, Plush was elected to the board of directors of Webster Bank. Plush retains his position as chief operating officer. Plush joined Webster in 2006 as chief financial officer and subsequently added the title of chief risk officer. In 2011, he was named vice chairman and chief operating officer.
First National Bank of Suffield announced the promotion of Nancy Viggiano to serve as interim president and CEO of the bank and its parent bank holding Nancy Viggiano company, First Suffield Financial, Inc. She will also serve as a director of both entities. Her titles are expected to include the word “interim” until the annual meeting. She has been with The First National Bank of Suffield since 1995 and has served in a variety of capacities within the bank’s retail, lending, branch administration and executive management functions.
Windsor Federal Savings recently announced the selection of George W. Hermann, a Connecticut native and a longtime community banking George W. Hermann executive, to serve as their new president and COO, effective Feb. 1. Hermann, who will succeed current President Mark Griffin, will also assume the role of CEO when Griffin retires in June. Hermann joins Windsor Federal Savings after an extensive career as a banking executive in Connecticut, including the last five years as president and CEO of The First National Bank of Suffield.
The Connecticut Mutual Holding Company has named Stephen P. Reilly as its new president and CEO. Reilly, president and CEO of Winsted-based Steven P. Reilly Northwest Community Bank, assumed this additional position on Jan. 1. The Connecticut Mutual Holding Company, established in 2001, was the first alliance of its kind to be formed in the state. Litchfield Bancorp and Northwest Community Bank were the original members, and the holding company expanded in 2010 with the addition of Collinsville Savings Society.
Thomaston Savings Bank announced the election of David V. Merchant as the vice chairman of the board. He is the president of Carstar in Bristol, Conn., a local collision repair center which has been in operation for 66 years. He has served as a member of the board of directors of the bank for the past 10 years and is currently serving on the Audit Committee as well as chairman of the Building Committee for the bank’s new Bristol Branch office.
David Klenk
Rebecca Gill
Michael Sulkis
Bank of New Canaan has announced two recent promotions and one appointment. David Klenk was promoted from head teller to personal banker specializing in private client services at the bank’s Elm Street branch. Rebecca Gill has been promoted to head teller at the bank’s Elm Street branch. Michael Sulkis has joined The Bank of New Canaan as vice president of commercial lending. He is a financial professional with 20 years of bank lending experience, primarily in the area of commercial real estate. 26
Thomas F. Burns
Lysa Ginsberg
Connecticut Community Bank announced three appointments. Thomas F. Burns was appointed senior vice president of commercial lending Paul Violette Lysa Ginsberg was named vice president of commercial lending. Paul Violette was named vice president of loan operations and compliance.
Chelsea Groton Bank promoted eight. Lori-Ellen Wesolowski has been named senior vice president and director of retail banking. In her role, Wesolowski oversees all retail, business banking, and security departments for the bank. She also continues to make great contributions to the bank’s strategic plan development. Lori Dufficy was promoted to the position of senior vice president. Formerly director of business development, she is now the director of sales and marketing. Dufficy plays a vital role in the creation and implementation of the bank’s strategic direction, as well as supervising the bank’s marketing, advertising and sales initiatives. Jessica Todd was promoted to vice president. She is a CPA and the bank’s comptroller. She is responsible for managing all facets of the accounting department including systems, staff and financial reporting. Regan Nichols was named assistant vice president. She joined the bank in 2005, and became manager of the Pawcatuck branch in 2011. Sonya Mis was named assistant vice president. As the training specialist, is responsible for training the bank’s tellers and customer service representatives. She also manages the bank’s Right Way Program for employees. Kate Alves was promoted to credit depart-
ment manager and assistant secretary. She is responsible for ensuring that all loan requests are underwritten accurately and according to bank policy. Jennifer DeLucia was named manager and assistant treasurer of Chelsea Groton Financial Services. She oversees all aspects of operations and administration for that division. Christine Pemberton serves as the bank’s employee relations manager and was promoted to assistant treasurer. She joined the bank in 2006.
Darien Rowayton Bank named Denise Russo to head its mortgage division. Russo has joined the bank as senior vice president and mortgage division executive. She brings over 10 years of Connecticut market experience in both mortgage sales and operations to her new role.
Eastern Federal Bank announced the following appointments. Michael Bartolotta has been promoted to vice president and information systems officer, where he oversees Michael Bartolotta all information systems for the bank. He joined Eastern Federal in 2007. Robin Tavares has been promoted to assistant manager and retirement accounts coordinator, Robin Tavares where she oversees all retirement accounts and provides branch support. She joined Eastern in 2006. Cynthia Field has joined Cynthia Field the bank as branch manager and officer of the Plainfield office. She brings over 15 years of banking experience.
First County Bank has announced six promotions and three appointments. Robert Granata has been promoted to senior vice president, chief credit and chief risk officer. In this Robert Granata role he will be responsible for all credit risk and operational compliance programs, commercial and consumer credit administration, oversight of Karen Kelly the bank’s credit policies, appraisal management and workout areas. Granata has been with the bank since 2007. Karen Kelly has been promoted to senior vice David Metzgar president and chief marketing officer, a new position within the bank. She has been charged with the oversight of the bank’s sales function and deposit growth strategies, as well Willard Miley as corporate communications, advertising, direct marketing and product development. She joined the bank in 2008. David Metzgar has been promoted to senior vice Peter Rugen president of the trust and investment division. Metzgar will continue to promote the bank’s trust services and assist new clients with the establishment of new trust accounts. Along with this promotion, Metzgar, who joined the bank in 1985, will join his colleagues as part of the bank’s senior management team. Willard Miley has been promoted to senior vice president and director of retail banking. He will lead the management of the bank’s retail and small business divisions, and the management of deposit and branch operations. Miley, who joined the bank in 2002, also will join the bank’s senior management team. Peter Rugen has been promoted to senior vice president chief administrative officer, 27
June Walker
John Dowling
Bruce Post
responsible for management of IT, network services, information security, real estate services, e-business relationships and project management. He joined the bank in 1985. June Walker was promoted to senior vice president and director of human resources. She joined the bank in 2011. John Dowling joins the bank as an assistant vice president and business development officer. He has 15 years of experience in the financial services industry. Bruce Post joins the bank as a mortgage loan originator. Alice Robinson joins the bank as a mortgage loan originator.
Alice Robinson
Pete Muszynski
Heather Gagnon
Mark Muszynski
Guilford Savings Bank – Pete Muszynski joined the bank in 2011 as vice president and commercial loan manager. He brings with him over 25 years of commercial lending and underwriting experience in Connecticut. Heather Gagnon was promoted to branch manager of the Old Saybrook office. She joined the bank in 2010 as floating assistant branch manager and has over 10 years of banking experience. Mark Muszynski was promoted to floating assistant branch manager. He joined the bank in 2010 as continued on page 28
PromotablePeople continued from page 27
a teller before quickly moving into a role as a customer service representative.
Liberty Bank – M. Ross Stands has been appointed vice president. He is responsible for the Waterford branch office. He has 26 years’ banking experience in M. Ross Stands Connecticut’s southeastern market, primarily in retail. Leigh-Bette Maynard has been appointed assistant vice president. She Leigh-Bette Maynard is responsible for the Cheshire branch office. She brings with her over a decade of experience in retail banking and financial services supervisory positions. Betty Weintraub Betty Sugerman Weintraub has been promoted to associate
director for grantmaking and community initiatives at the Liberty Bank Foundation. In this position, she is responsible for conducting outreach Rosa Carrero activities that implement the foundation’s role as a philanthropic leader in the communities it serves. Rosa Carrero has been promoted to assistant vice president; she is responJeri Coleman sible for community outreach. Among her many roles, she is active on behalf of the bank in conducting financial literacy and first-time homebuyer programs open to the Sheila Mason public. Jeri Coleman has been appointed assistant vice president. She is responsible for resort finance loan administration. She began her career at Liberty Bank in 2007 and has 26 years’ experience in the banking business.
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Sheila Mason has been appointed assistant vice president, serving as a credit officer and portfolio manager in the business banking division. She David Gregoire joined Liberty Bank in 2001. David Gregoire has been appointed assistant vice president, serving as a credit officer and portfolio manager in the business Jewell Jones banking division. He joined Liberty Bank in 2000 and, overall, enjoys more than 30 years’ experience in the banking business. Jewell Jones has been appointed assistant vice president, responsible for the bank’s Groton branch. She joined Liberty Bank in 1997 and has served in a variety of capacities of increasing responsibility. As the bank’s 2011 United Way campaign co-chair, she helped deliver a record-breaking fund raising effort.
Litchfield Bancorp has announced that Robert E. Teittinen has joined the bank as chief lending officer. He is a 27-year veteran of banking, and is known locally for his expertise in Robert E. Teittinen helping small to mid-sized businesses with commercial lending. At Litchfield Bancorp, Teittinen will be responsible for growing the bank’s commercial loan portfolio while Lisa Partrick maintaining its stable risk model. Lisa Partrick has been promoted to corporate secretary. As corporate secretary, she serves as administrative assistant to Melissa Dodge the president and secretary to the board of directors. Melissa Dodge has been promoted to branch manager of the bank’s Torrington office. She joined Litchfield Bancorp as a teller in 2001 and quickly earned a promotion to senior teller. She was promoted to the Litchfield office’s head teller position in 2007 and in 2008 was named assistant manager.
Naugatuck Valley Savings and Loan recently to announced the addition of Sharon A. Blanchette as chief risk officer. In this role, she will be responSharon A. Blanchette sible for ensuring that NVSL maintains adequate credit, compliance, and operation risk policies and procedures. She has over 20 years of experience.
Salisbury Bank has announced the promotion of Eileen Lee to the position of branch manager of the Salisbury office. In her new position, she will be responsible for directing Eileen Lee the ongoing activities of the branch. She joined the company in 1996. Heidi Wilson has been promoted to the position of branch manager of the Lakeville
Heidi Wilson
office. In her new position, she will be responsible for directing the ongoing activities of the branch. She joined the bank in September 2005 as a teller.
Savings Bank of Danbury recently announced that Kathleen Romagnano has joined the bank as executive vice president and chief operating officer. Kathleen Romagnano She brings over 25 years professional bank management experience. In her new role, she will work as part of the executive management team to strategically position the bank for continued growth. She also serves as an active member of the bank’s ALCO Committee.
Savings Institute Bank & Trust recently announced that Lisa M. Sullivan has joined the bank as assistant vice president and branch manager for Lisa M. Sullivan the Mansfield office. She has more than 14 years of management experience. In her new position, she will be responsible for leading branch staff in maintaining current standards of customer service, while reaching out to area businesses in Mansfield with both commercial services and loan opportunities.
Simsbury Bank is pleased to announce that Richard Liljedahl has joined the bank as a mortgage loan officer. Liljedahl will work directly with home buyers Richard Liljedahl and homeowners, focusing in West Hartford, as well as serving other areas of Hartford County. Megan Shufelt has been promoted to senior operations electronic banking Megan Shufelt administrator. In this position, Shufelt will be responsible for the day 29
to day front-line customer support of the bank’s internet banking product, SBT Online, bill pay, as well as managing product upgrades and assisting in the strategic planning Joann Brogis around electronic product development. Joann Brogis has joined the commercial banking team as a commercial relationship manager. In this role, Brogis will work directly with business owners and managers to help them achieve their goals through tailoring the bank’s full breadth of financing, cash management and other business services solutions for their needs.
TD Bank has promoted China L. Ross to store manager at the store located at 466 Foxon Blvd. in New Haven. She is responsible for new business China L. Ross development, consumer and business lending, managing personnel and overseeing the day-to-day operations at the store. Debra E. Cipriano has been promoted to store Debra E. Cipriano manager at the store located at 60 Redding Road in Redding. An assistant vice president, she is responsible for new business development, consumer and business lending, managing personnel and Gene A. Leary overseeing the day-to-day operations at the store serving customers throughout the area. Deborah J. Dannenbaum has been named vice president and commercial loan officer in the commercial real estate group offices in Wilton. She is responsible for generating new commercial real estate loans, serving business clients throughout Fairfield County in Connecticut and Westchester County in New York. Eugene (Gene) A. Leary has been named senior business development officer in asset-based lending. Based in Bridgeport, he is responsible for developing new and continued on page 30
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expanding existing ABL relationships in the New England and Upstate New York market. Leary has more than 20 years of experience. Marilyn Perzan
Thomaston Savings Bank announced the promotion of James R. Nichol to executive vice president of the bank. He joined James R. Nichol
Melissa Erdtmann
Thomaston Savings Bank in October 1991 and is the chief operating officer as well as the chief lending officer for the bank. Along with his responsibilities at the bank, Nichol is also the secretary for the Thomaston Savings Bank Foundation, Inc. Marilyn Perzan recently joined the bank and will be responsible for the
origination of consumer mortgages in Bristol. She has 29 years of banking experience. Melissa Erdtmann has been working in the bankElsa Delgado ing industry for the past 16 years, most recently as the owner of her own business where she analyzed commercial loan applications and performed a full range of bookkeeping functions Todd Burton for clients. She joins the bank as a commercial lender working in the Watertown branch office. Elsa Delgado joins the deposit operations department as a retirement plan Patricia Clemente specialist. Delgado brings 26 years of banking experience with the last 12 years as a retirement plan specialist. Todd Burton has been promoted to assistant Jonathan Gilbode vice president. He joined the bank in the spring of 2011 and is responsible for the bank’s strategic retail expansion into greater Bristol. Patricia Clemente has been Jennifer Pawloski promoted to assistant vice president. She joined the bank in the summer of 2011. Jonathan Gilbode has been promoted to assistant vice president. He joined Diane Roveto the bank in 2006 and is responsible for the daily operation of the bank’s retail branch network. Jennifer Pawloski has been promoted to assistant secretary. She joined the bank in 1999. Diane Roveto has been promoted to assistant secretary. She joined the bank in 2007 and has more than 20 years of banking experience. u
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