Connecticut Banking 2Q 2011

Second Quarter 2011

Inside:

Meet the CSFM Class of 2011 Conn. Teen Wins ABA Contest Bowling for Big Brother/Big Sister

Sharing the

Good News Community Banking’s Image Bounding Out of Recession

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Connecticut Bankers Association

10 Waterside Dr. Farmington, CT 06032-3083 Telephone: 860-677-5060 • Fax: 860-677-5066 Chairman John C. Roman

Second Vice Chairman John J. Patrick, Jr.

First Vice Chairman Martin J. Geitz

President & CEO Gerald M. Noonan

President & CEO Nangatuck Valley Savings & Loan

President & CEO Simsbury Bank

Chairman, President & CEO Farmington Bank

Senior Vice President & Secretary Lindsey R. Pinkham Vice President & Treasurer Thomas S. Mongellow Vice President Colleen E. Clancy

Cover Story

Main Street, We Have a Problem................................................... 12 Three years of bank-bashing have left traditional banks frustrated at their sagging image.

Something needs to be done… and it is.

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 Group Publisher & Editor in Chief Vincent M. Valvo

Finance & Administration Controller / Dir. of Operations Jeffrey E. Lewis

Editorial

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Advertising, editorial and production inquiries should be directed to: The Warren Group, 280 Summer Street, Boston, MA 02210. Call 800-356-8805.

Photo credits: iStockphoto

Page 6

Features

CSFM 2011 Graduation...................................................................... 4 Caught on Camera............................................................................... 8 Suffield Teen Wins ABA’s Lights, Camera, Save! Contest.....10 Telling Our Stories............................................................... 14

Page 19

Page 22

Promotable People..................................................................... 16 Promotable Projects.................................................................. 19 3

Connecticut Banking Magazine • Second Quarter 2011

Connecticut School of Finance & Management Graduates 51 in Class of 2011 The Connecticut Bankers Association has a busy calendar of events each year. One of the more anticipated and enjoyable events is the graduation ceremony held each spring for the second year students enrolled in the Connecticut School of Finance & Management.

The School is the premiere management training program offered by the Association.

The CBA is pleased to announce that 51 students in the School’s Class of 2011 graduated on April 13, 2011. One of the many highlights of the graduation ceremony was the awarding of the John C. Shortell Award for Academic Excellence to Kenneth S. Sklodosky of Simsbury Bank. This award is presented to the student who achieves the highest academic rating while attending the Connecticut School of Finance & Management. In addition to Ken, four other students also graduated with honors. As such, they all were Michael J. Piette Honors Award recipients as a result of finishing in the top 10 percent of their class.

With the ceremony now just a memory, there are now 2,173 individuals who have successfully completed the program requirements and have received their CSFM certificate of completion. Congratulations to the 51 members of the Class of 2011!

Picture Your Employees or Yourself Here The CBA will soon be releasing the syllabus for the Class of 2013.

The syllabus includes course descriptions, class schedules, fees associated with attending and much more. Applications are due

by June 16, 2011.

Connecticut School of Fiannace & Management’s Class of 2011 Chelsea Groton Bank Nancy Johnson Christine Pemberton ** Connecticut Community Bank, N.A. Kristina L. Refsbeck Connecticut Department of Banking Min Liu Dime Bank Julie L. O’Connor Kevin S. Owren Fairfield County Bank Patrick B. McRedmond Sandra N. Sousa Farmington Bank Jeffrey Clement Sherrie Dubois Kenneth W. Jones William McDougall, IV Karin M. Slater ** First County Bank Henry J. Palomino

First Niagra (formerly NewAlliance Bank) Patricia A. Fitzgibbons Diana E. Pfeiffer Dawn M. Tatro Jewett City Savings Bank Jenny M. Driscoll Brandy S. Hapgood Liberty Bank Jason L. Cote Gary A. Danforth, II ** Joanne N. McHugo ** Sharon McKernan Margaret C. Mozdzioch

Naugatuck Valley Savings & Loan Association Hunter R. Merrill Newtown Savings Bank Tiffany A. Hartmann Lorraine G. McInerney People’s United Bank Daniel R. Chizmadia Ermira Puka Melanie L. Pupillo Rockville Bank Denise M. Fleming Kenneth A. Jezek

The Milford Bank Lynn A. Viesti Berube

Savings Bank of Danbury Megan C. Charette

The National Iron Bank Mickie-Ann Budny

Savings Institute Bank & Trust Jessica L. Caisse

Naugatuck Savings Bank Ann Hofmann Lilliana McAuliffe

Simsbury Bank Kenneth S. Sklodosky ##/**

4

TD Bank, N.A. Matthew W. Cuddy Kristie M. Dammling Judith L. Molnar Randi L. St. Hilaire Lisa M. Sullivan Natalie Weaver Thomaston Savings Bank Jonathan T. Gilbode Torrington Savings Bank Mark E. Perbeck

Department of Banking Consumer Credit Division Director Marlene Mannix offers her congratulations.

Union Savings Bank Roberta D. Bryson Jason M. Ginsberg Jennifer L. Rosbergen Webster Bank, N.A. Yoshiko Blais Weaver ## John C. Shortell Academic Excellence Award Winner ** Michael J. Piette Honors Award Recipient

Denise Fleming from Rockville Bank.

CBA Chairman John Roman offers his congratulations.

Waiting, waiting, waiting‌

CBA President and CEO Gerry Noonan offers his congratulations.

Jeff Clement of Farmington Bank receives his certificate from CBA Chairman John Roman.

continued on page 6 5

Connecticut Banking Magazine • Second Quarter 2011

Happy graduates!

Ken Sklodosky of Simsbury Bank and winner of the John C. Shortell Award for Academic Excellence.

Some very excited graduates.

Carter Rosbergen, who stole the show during the BankSim Annual meetings held earlier in the day, in the arms of former graduate Godiva Cadena of Union Savings Bank (hint: think E*TRADE commercials).

TD Bank grads and guests.

Savings Bank of Danbury’s Hal Wibling and Marcia Grise with graduate Megan Charette.

Simsbury Bank’s Howard Zern and Martin Geitz congratulate Ken Sklodosky on his award.

Kevin Owren of Dime Bank.

Naugatuck Savings Bank’s Mark Yanarella congrats Lilliana McAuliffe.

6

Photos courtesy of Stephen Laschever of www.laschphoto.com.

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Connecticut Banking Magazine • Second Quarter 2011

CONNECTICUT BANKERS

Caught on Camera Essex Savings Bank – Gregory Shook, president and CEO, has been appointed to an adisory council of The Federal Reserve Bank of Boston. Each Federal Reserve Bank across the country is establishing a First District Community Depository Institutions Advisory Council (CDIAC) in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The councils will represent the perspective of smaller financial institutions and provide input on the economy and lending conditions, among other issues, according to a statement. The First District’s 12 CDIAC members represent commercial banks, thrift institutions and credit unions with assets less than $10 billion. Members, which are from each of the six New England states, will meet three times annually.

Bank of New Canaan board member and Building and Land Technology CEO Carl Kuehner was “roasted” at an event that drew more than 450 people to the Italian Center in Stamford on April 7, with proceeds benefiting the American Cancer Society. Pictured, left to right: Bobby Valentine, Missy Smith of Building and Land Technology, Carl Kuehner, Stamford Mayor Michael Pavia and Bank of New Canaan CEO Jay Forgotson.

Savings Bank of Danbury Lisa Ward, owner of Brushpuppies Dog Grooming in Bethel, was presented with a Dell laptop computer as the winner of the bank’s “Put Your Money Where Your Mouse Is” sweepstakes.

Pictured presenting the laptop to Lisa is Jim Post, branch manager and assistant vice president of Savings Bank of Danbury’s Plumtrees office.

Webster Bank – Jeffrey A. Klaus, Webster Bank’s regional president for greater New Haven, has been named “Citizen of the Year” by Business New Haven, the region’s business journal. Klaus was selected for his numerous volunteer activities in the area, particularly those related to enhancing its urban public educational offerings. Klaus has been an active volunteer in greater New Haven for 20 years.

Rockville Bank – William J. McGurk, president and CEO of Rockville Financial, Inc., the parent company of Rockville Bank, and incoming president and CEO William H. W. “Bill” Crawford IV, presided over the NASDAQ Stock Market Closing Bell April 15 in New York City to celebrate the community bank’s becoming a fully public-owned company. They are joined by members of the bank management and board of directors.

Pictured, front row, left to right: Lori Fortier, Kathleen Miller, Eva Marie Howell, Adam Barbuto and Branch Manager Carl Bonamico.

Back row, left to right: Christine Curtis, David Flyntz and John O’Brien.

Liberty Bank – We’re number one! The staff of the Liberty Bank’s Wallingford office received the “Branch of the Year” award for the second consecutive year at the bank’s annual Sales Summit.

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Connecticut Banking Magazine • Second Quarter 2011

Suffield Teen Wins ABA’s Lights, Camera, Save! Contest

By Lindsey Pinkham The management team at The First National Bank of Suffield liked the idea of promoting the ABA’s “Lights, Camera, Save!” when they first heard about the program.

Lights, Camera, Save was developed by the ABA’s Education Foundation in an effort to encourage young people to use the power of video to communicate the value – and understanding – of saving.

The contest, which was being held for the first time in the fall of 2010, had five pages of intimidating rules, but only one goal: students would have fun making their videos and, win or lose, the contestants would get a better understanding of the importance of savings. The slogan used in the promotional materials got right to the heart of the issue: “Start young, save more.”

The bank began marketing the program late last summer by posting flyers and using their connections with area schools

3

Steps TO

to further promote the event. At first, they weren’t sure if anyone would actually participate, let alone win the contest.

There were over 200 videos submitted to the ABA by the Nov. 1 submission deadline. The five judges, who took their jobs very seriously, were executives from the Consumer Federation of America, Kiplinger’s Personal Finance, the School of Communications at Howard University, JumpStart Coalition and the EAST Initiative.

Jump ahead to March 2011 when the bank’s president and CEO, George Hermann, got a call saying the bank’s sponsored student submission was among the eight finalists. Days later, a second call revealed that J. Mason Beiter had won the grand prize. Following the announcement, The First National Bank of Suffield and winner Mason Beiter began receiving

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Pictured, left to right: Laura Fisher, executive director of the ABA Education Foundation, J. Mason Beiter and First National Bank of Suffield president and CEO George Hermann

unprecedented national and local media attention for their part in the first-ever Lights, Camera, Save! video contest.

Hermann quipped, “This is like being on tour with an ‘American Idol’ finalist.”

The Suffield Middle School had a special, all-student assembly to honor Mason. The chairman and several members of the Board of Education, along with the superintendent of schools, were in attendance. He was honored at a Board of Education meeting, where they started the meeting by playing Mason’s winning video. Mason was interviewed by Reuters and appeared on Fox Morning News, Fox 61 in Hartford, with Hermann.

To honor the winner, The First National Bank of Suffield held a celebration ceremony to present Beiter with a $3,000 U.S. savings bond. In attendance were his family, friends, teachers, local officials and Laura Fisher, executive director of the ABA Education Foundation. State Rep. Elaine O’Brien was also in attendance to present Beiter with an official citation from the Connecticut General Assembly. The makers of Beiter’s video theme, LEGO, presented him with a hand-signed letter from LEGO Group President Soren Torp Laursen attached to a large Star Wars LEGO model kit.

The ABA is gearing up for the 2011 contest, so get those cameras warmed up for the Sept. 1 launch of the second annual Lights, Camera, Save! event.

To view Mason’s award-winning video, visit: www.youtube.com/userTeachChildren ToSave#p/u/1/oz2UMA6swRg. u Lindsey Pinkham is senior vice president and secretary of the Connecticut Bankers Association.

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FEATURE STORY | BANKS’ IMAGE

“Main Street, we have

a problem”

Three years of bank-bashing have left traditional banks frustrated at their sagging image. Something needs to be done…and it is By Bill Streeter, Editor-in-Chief, ABA Banking Journal

L

awyer jokes used to have a lock on the market. Not anymore. Type “banker jokes” on Google and you’ll find plenty to choose from, including this one: Q. What’s the problem with banker jokes?

A. Bankers don’t think they’re funny; normal people don’t think they’re jokes.

Ouch!

Lawyers might tell bankers to just get over it. Easy for them to say. Congress is run by lawyers.

If it was just about jokes, bankers would get over it. But the jokes are a symptom

They said that?

of a much more serious issue – the sharp decline in how the public regards banking.

This decline was clearly made worse by the financial crisis that the vast majority of traditional banks had no part in causing.

During the crisis, “banking” was redefined by the media and policymakers to include mortgage brokers, Wall Street investment banks, and even AIG. Combine this with the TARP “bailout” – which was anything but – and there has been blood in the water for banks ever since. The overreaching Dodd-Frank Act is the most glaring example of how misinformation can drive bad public policy.

As he took office last October, ABA Chairman Steve Wilson, CEO of LCNB National Bank, Lebanon, Ohio, was deeply disturbed by this trend. He was frustrated that people generally aren’t aware of, or don’t understand, what traditional banks do to help people and support their communities. He made it a primary goal of his term to repair banking’s damaged reputation and to help restore the industry to the position of honor it once held. As he said, “We stand a far better chance of winning in the political arena when we are also winning in the arena of public opinion.”

Takeaways from ABA consumer focus groups

Focus groups are always enlightening and frequently jarring. ABA conducted four of them earlier this year to explore consumer perceptions about banks. Below are some typical observations.

the community and economic development, but know little about the extent to which it’s currently done.

Regs not being enforced Most do not understand how, and the extent to which, banks are regulated, although they believe that existing regulation isn’t being enforced, as shown by the recent financial crisis.

Whose fault? When asked who was responsible for the financial crisis, the answer was “everyone.” Banks, the government, predatory lenders, ratings agencies, consumers who made poor choices.

Make a profit, but not too much Banking is a commodity to most people. They want it to work and, while they believe that banks are entitled to make a profit, they don’t want the fees to be unreasonable.

Big vs. small Consumers drew a distinction between big banks and community banks – although they weren’t sure how many community banks still exist – and between banking and Wall Street, although the line was blurry.

Not sure what you do They favor banks’ involvement in

Don’t whine People generally do not want to hear banks complain about regulation. It sounds self-serving and whiny.

12

“Telling Your Bank’s Story” Here’s some of what’s in the new ABA toolbox for members on aba.com Sample letters to employees, directors Surveys for employees and customers Q&A for addressing customer questions Case studies of successful bank programs Impact statement form to help quantify banks’ community support (loans, charitable contributions, volunteer work, taxes paid, etc.)

Speech and PowerPoint presentation for community meetings Focus group instructions Op-Ed article Tips for working with the media Media talking points ABA resources

From the ground up Wilson established an ABA Image Task Force to determine how best to tackle the challenge. Led by co-chairs Matt Williams, ABA’s vice-chairman, and president of Gothenburg (Neb.) State Bank, and Bick Weissenrieder, CEO of The Hocking Valley Bank, Athens, Ohio, the task force has been meeting monthly since November, in concert with ABA staff, led by Executive Vice-President of Communications, Ginny Dean. Committee members include a mix of bankers, state association executives, and a media representative (this writer).

The group determined that the best approach would be to begin locally, and the place to start was with bank employees.

“Do we know how our employees respond when asked a question about our bank or about the industry?” Matt Williams asked during a presentation at ABA’s recent Government Relations Summit. “Do they look down at their shoes or shrug their shoulders – or do they talk with a sense of pride?” Each employee, he said, can be an ambassador for the bank and the industry if he or she is informed and feels the same pride in their profession that bank presidents do.

13

Employees can be very effective at helping to correct misinformation in their circle of family and friends, and with customers, said Williams. Bank directors can do likewise.

Altogether, the task force identified five target audiences: 1. Employees and directors 2. Customers 3. The community 4. Media 5. Policymakers With input from the task force and from several consumer focus groups, Dean pulled together ABA’s resources to craft a toolbox that member banks can use to take an active role in rebuilding banking’s image. The toolbox is available to ABA members on aba.com. Highlights appear above.

Find out what people think To move the image needle, the task force recognized that it’s critical to have an idea of what the public’s perception of banking really is. The focus groups were part of that. In addition, the toolbox contains sample surveys for banks to give to employees and customers. The surveys, which can be tailored by each 13

bank, should identify problem areas that then can be addressed. Among the issues probed: • How prepared do employees feel to address questions about the bank or the industry?

• In their opinion, does the bank’s management act with integrity?

• Does the bank act in the best interests of its customers?

What is needed “For the ABA image effort to succeed,” said Matt Williams, “two things have to happen.”

The bank’s CEO has to make a dedicated commitment to be an ongoing part of it; and The CEO has to select a “go-getter” in the bank with the right skills to head up the effort.

“If we sit back and say, ‘We’re all right, it’s not our problem,’ and leave it up to someone else,” said Williams, “nothing will change.” u Reprinted with permission from the April 2011 issue of ABA Banking Journal copyright 2011 by the American Bankers Association.

Connecticut Banking Magazine • Second Quarter 2011

Telling Our Stories Communities Need to Know Banks’ Worth

A

fter reading some of the comments resulting from the American Bankers Association’s consumer focus group on the banking industry’s image, it became clear that banks need to reach out to the communities they serve and effectually demonstrate what those same communities would lose without your institution’s presence. While none of these focus group sessions were with Connecticut residents, the likelihood is that these same sentiments are in our state as well.

eral community bankers describe their bank’s individual results, Senator L. Scott Frantz, assistant minority leader and member of the committee said he “was pleasantly surprised at the level of employee involvement and amount of the financial contributions coming from banks and their foundations.”

Get your employees involved The ABA recommends getting your employees involved in telling your bank’s story. Every employee in your bank – from frontline to support staff – is a valuable spokesperson. These individuals are reliable sources of information if they are equipped with the right messages. Select an employee who has a passion about your bank’s reputation and the appropriate skill set and ask him or her to put together a team to own the customer communication process.

Member banks are welcome to use this information in editorials, and individual or collective marketing campaigns. Please contact the association if you need further information. u

We have a great story to tell, and the numbers back it up Earlier this year the Connecticut Bankers Association surveyed its member banks on the outreach that they make, and the numbers are astonishing. The numbers listed at right are based on 68 percent survey return rate; the actual numbers are even higher.

The results of the 2010 Annual Community Involvement Survey were recently presented at a meeting of the Banks Committee of the Connecticut General Assembly. Upon listening to sev-

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Second Quarter 2011 • Connecticut Banking Magazine

CBA’s 2010 Annual Community Involvement Survey (Information as of Dec. 31, 2010)

Bank and Foundation Total annual community donations in 2010

$18,007,524 41 CT banks

Number of contributions to Connecticut community organizations

8,997 41 CT banks

Number of annual hours of volunteer community service by bank employees

196,273 33 CT banks

Number of employees (not directors) who donate time to community activities

4,489 36 CT banks

Number of full-time equivalents (FTEs)

15,283 40 CT banks

Number of branches (include supermarket branches)

890 40 CT banks

(include sponsorships, scholarships, community events, program ads, fundraising dinners and other activities)

(not directors)

Bank has a financial literacy program

18 Yes

Amount paid by bank in local property taxes

21 No

$8,320,676 36 CT banks

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PromotablePeople Recognizing the career milestones of the people who contribute to Connecticut’s banking industry.

Chelsea Groton Bank – B. Michael Rauh Jr. has been selected to succeed Duncan Stoddard as president and CEO of the bank. Rauh began work at Chelsea Groton in Dec. 2010 as B. Michael Rauh Jr. president and assumed the additional title of CEO when Stoddard retired earlier this year.

Rauh joins the bank from The Washington Trust Company in Westerly, R.I. where he spent more than 19 years, most recently as executive vice-president of sales, service and delivery.

Anne Wilkinson has joined the bank as senior vice president and human resources director. In this position, Wilkinson will be responsible for all aspects of human resources, Anne Wilkinson including managing employee benefits, hiring and training.

Lori Dufficy has joined the bank as senior vice president and director of business development.

Serving as a liaison to support the bank’s sales teams, Lori Dufficy Dufficy’s addition to the senior management group will help to position the bank for continued growth in the marketplace.

Bankers’ Bank Northeast has named Kerry Corbin to the position of relationship coordinator. Corbin, who has been with the bank since 2006, will work Kerry Corbin closely with the bank’s clients and relationship managers regarding existing and newly implemented services.

Corbin will also provide technical support to the relationship managers and serve as the liaison between the bank’s clients and vendors.

Bank of New Canaan – Richard Castiglioni, a longtime New Canaan resident, has joined the bank’s board of directors.

Castiglioni is a founding partner of the law firm Richard Castiglioni Diserio, Martin, O’Connor & Castiglioni LLP, and head of the firm’s Litigation Department.

He has served on the Executive Committee and as treasurer, secretary, first vice president and president of the Regional Bar Association.

Dime Bank recently promoted Heather Jakan to the position of executive assistant and corporate secretary. Jakan began her banking career 15 years ago Heather Jakan when she joined the Dime team. Jakan has served as the Dime Bank cocoordinator for United Way for 15 years and is the coordinator for Day of Caring.

Eastern Federal Bank welcomes new board member Charles (Chuck) Seeman, president and CEO of United Community & Family Services, Inc. He has over 30 years of experiCharles Seeman ence in senior financial, administrative and general management positions. He has past experience working with information systems, public and community relations and human resources. He has many years of community service through local business and civic associations.

Robin Faircloth has joined Eastern Federal as vice president of compliance.

She is a certified internal auditor, and has over 20 years of internal audit and Robin Faircloth compliance experience obtained while working in the credit union and banking industries.

16

Fieldpoint Private Bank & Trust recently recruited Paul C. Guidone, CFA, as its chief investment officer.

Guidone is a senior business executive with more than 30 years of experience Paul C. Guidone in the investment management industry in the U.S. and abroad.

Nutmeg Financial, MHC, the parent of Naugatuck Savings Bank and John M. Sutherland Insurance, Inc., announced at the annual meeting of its board of corporators that David W. David W. Nurnberger Nurnberger, retired senior vice president of human resources for Boehringer Ingelheim, and Stephen C. Widman, MD, of Cardiology Associates of Greater Waterbury, P.C., Stephen C. Widman were elected as trustees of Nutmeg Financial, MHC.

Liberty Bank – Sue Prigitano has been promoted to assistant vice president of deposit operations. She joined the bank in 1984 as a teller, earning promotions to manager in Sue Pritgitano 1998 and assistant treasurer in 1999.

Litchfield Bancorp announced that Sarah Better has been promoted to branch manager of the Washington office. She began working with the bank as a teller 11 years Sarah Better ago, and became branch supervisor two years ago.

Patriot National Bank announced that David H. MacKenzie has joined the bank as vice president and residential lending manager. He brings over 25 David H. MacKenzie years of financial experience to Patriot, having led mortgage teams for Greenpoint Savings Bank, Sovereign Bancorp, Bank of NY and Citicorp as well as independent mortgage businesses.

Rockville Bank – Radhika Deshmukh has been promoted to branch officer.

She manages the office at the bank’s Lafayette Square Branch in Vernon, currentRadhika Deshmukh ly are operating at a nearby temporary location.

and enhancement of full service commercial banking relationships with businesses, as well as credit administration, including portfolio management, loan underwriting, monitoring and collection.

Quinnipiac Bank & Trust – Michael Carrano has been appointed assistant vice president and branch manager. Carrano is an experienced banker, with Michael Carrano

Savings Bank of Danbury recently announced that Keri Rich has joined the bank as its newest mortgage consultant. In her new role, Rich will be responsible for educating and Keri Rich counseling borrowers, as well as originating mortgages and home equity loans in the Greater Waterbury area.

Savings Institute Bank & Trust recently announced that Thomas W. Egan has joined the bank as mortgage sales manager. Egan has more than 30 years of experience with mortgage Thomas W. Egan finance and is knowledgeable in both the retail and wholesale aspects of mortgage banking.

Simsbury Bank announced that Michael L. Alberts has been promoted to the newly created role of senior vice president and chief commercial bankMichael L. Alberts ing officer. In this role, Alberts will be responsible for the bank’s commercial banking strategy and implementation, including overseeing development 17

more than 15 years serving in local financial institutions.

Robert Cusano was appointed vice president for commercial lending.

Cusano brings more than 20 years of experience in the banking industry.

Robert Cusano

continued on page 18

Connecticut Banking Magazine • Second Quarter 2011

PromotablePeople continued from page 17

TD Bank appoints two and promotes one. Jarod M. Carey has been named small business relationship manager in Southington.

An assistant vice president, he will oversee small busiJarod M. Carey ness lending and business development at 10 TD Bank stores in central Connecticut.

Karina Towne has been promoted to store manager of the Georgetown store in Redding. An assistant vice president, she is responsible for new business developKarina Towne ment, consumer and business lending, and managing personnel and day-to-day operations at the store.

John M. Tuohy was named vice president and senior loan officer in commercial lending in Westport. He is responsible for developing John M. Tuohy

relationships and providing a range of lending services to business clients throughout Connecticut. Tuohy has 20 years of experience in banking and lending.

Webster Bank announced that Greg Madar, senior vice president and controller, has been promoted to senior vice president and chief accounting officer. Madar will lead all accounting functions, Greg Madar including general accounting, financial reporting, treasury operations, Sarbanes-Oxley and operational accounting.

Madar has been with Webster since 1995.

Chris Ziluca has been appointed chief credit officer. He is responsible for managing the credit approval and policy function, as well as for managing and enhancing credit risk Chris Ziluca management and infrastructure.

Windsor Federal Savings recently announced that Lori LePauloue has joined the association as the vice president of residential and consumer Lending.

A native of Maine, she is Lori LePauloue a seasoned professional with over 25 years of community banking experience, with an in-depth background in retail banking and sales management specializing in mortgage, consumer and small business lending. u

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PromotableProjects Illustrating the many bank projects designed to assist the people and communities that the industry collectively serves.

Pictured: During a recent visit to the Hartford High School Nursing Academy, students Christina James (front left), Kassandra Saez and Andre Reynolds demonstrated their work with a microscope to Kevin J. Cunningham (rear left), Connecticut president, Bank of America; Linda J. Kelly, Hartford Foundation president; and Tom Phillips, president and CEO, Capital Workforce Partners.

Bank of America – With youth unemployment rates running at record levels, Bank of America and the Hartford Foundation for Public Giving have awarded $250,000 to help fund a project that encourages high school graduation and improves student preparation for work in a global economy. The collaboration between the Hartford Foundation ($150,000) and Bank of America ($100,000) will support participation in the school-year Career Competency Youth Development Program, an ongoing project of Capital Workforce Partners in partnership with local nonprofits and businesses. The program will link summer jobs to academic-year programs and serve approximately 150 students ages 14-19 at Weaver Culinary Arts Program, Pathways to Technology, Weaver High School Journalism and New Media Academy, Hartford High School Nursing Academy, and the Hartford High School Law and Government Academy.

Farmington Bank and its employees participated recently in Ride America, a six-hour indoor cycling event that raises funds for cancer patients and their families. More than $96,000 was raised at Ride America, including $5,000 from the 11-member Farmington Bank team. Farmington Bank also served as Presenting Sponsor of Ride America for the second consecutive year. Funds raised at Ride America assist in cancer research and ease the financial burdens for many Connecticut cancer patients and their families.

Dime Bank – A $4,000 award from the Dime Bank Foundation helped the Westerly Senior Citizens Center purchase 200 multi-purpose stack chairs for use in the Senior Center cafetorium. The cafetorium is used not only as daily meal site, but also for numerous daytime activities and programs, as well as daily socialization. According to Don L. Reynolds, executive director of the Westerly Senior Citizens Center, “The chairs that Dime Foundation has so graciously purchased are needed to help us carry out our mission, programs and activities in a safe and sound environment.

Pictured: Sitting: Anna King, Westerly Senior Center, Dime Bank director. Standing: George Routhier, Westerly Senior Center, Dime Bank director; Nick Caplanson, CFO and senior vice president, Dime Bank; Cheryl Calderado, senior vice president, Dime Bank; and Kevin Owren, Dime Bank Westerly branch manager.

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PromotableProjects continued from page 19

Eastern Federal Bank employees joined Big Brothers/Big Sisters and bowled for kids’ sake! The five EFB teams had a wonderful afternoon together and raised $1,200 for a very worthy cause.

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Essex Savings Bank announces Community Investment Program Balloting Awards; the customer balloting portion of Essex Savings Bank’s 2011 Community Investment Program began on February 1 and concluded on March 15. During the first phase of the program, the bank’s customers were asked to select from a list of 83 qualified nonprofit organizations that applied to the bank.

Gregory R. Shook, president and CEO of Essex Savings Bank, said, “Our Community Investment Program is designed to provide vital financial support and visibility to these dedicated organizations and their people who enhance the quality of life in our communities.” Each year the bank donates 10 percent of its after tax net income to non-profit organizations within the immediate market area. According to Thomas Lindner, vice president and community relations officer for Essex Savings Bank, 9,496 votes were cast this year. Based on ballot results, $73,000 will be disbursed during the month of April, and the remaining $171,000 will be distributed over the year by the bank’s management.

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Jewett City Savings Bank president and CEO Kevin C. Merchant recently announced that the bank contributed a total of $20,000 toward the transformation of the American Legion LaFlamme-Kusek Post No. 15 building in Jewett City into supportive housing for homeless veterans. The bank provided $10,000 in funding in June 2010 to help begin the initial fundraising campaign for the project, and an additional $10,000 has been pledged over the next two years. “There is no question in our minds that this is a worthy project,” said Merchant. “It acknowledges the sacrifices made on our behalf by those who have served our country, and who now need our help.” continued on page 22

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A commitment to New England The Federal Home Loan Bank of Boston is a trusted partner committed to the success of your financial institution and the communities you serve. As a reliable provider of liquidity and business solutions to financial institutions across New England, we’re here for the long term—committed to the region’s housing and community development needs. Make the most of your opportunities. Call 1-888-595-8733.

Federal Home Loan Bank of Boston 111Huntington Avenue • Boston, MA 02199 • www.fhlbboston.com

PromotableProjects continued from page 20

Rockville Bank hosted a “Shred Day” on April 9 at its offices on 1645 Ellington Road in South Windsor. The shredding was managed by Infoshred of East Windsor, one of Connecticut’s largest professional shredding companies. “Keeping your identity safe is so important that we will offer this Shred Day at no cost to everyone – not just for our customers,” explained William J. McGurk, then president and CEO of Rockville Bank. “Protecting our customers from identification fraud is of prime importance to our bank, from installing complimentary shredding machines for customers in most of our branches, to sending them notices about preventive security measures.”

Wells Fargo Bank recently held breakfast meetings to distribute 69 grants totaling $69,000 to local nonprofit groups in its Connecticut market. The Community Partners Breakfast series was established to give local branch managers an opportunity to make a $1,000 charitable contribution on behalf of Wells Fargo to a nonprofit of their choice.

“We used this occasion to celebrate and acknowledge our community partners, who provide critical services to local residents,” said Joe Kirk, Wells Fargo’s regional president for Connecticut and New York.

“Through corporate and foundation grants, we support nonprofit organizations that address vital community needs and issues, including community development, education, human services, arts and culture, environmental and civic projects.”

Pictured: Ed Ronan, member of the board of directors of both Regional Hospice and Savings Bank of Danbury; Janice Lea, vice president of marketing for Savings Bank of Danbury; Cynthia Roy Squitieri, executive director of Regional Hospice; and Karl Epple, a member of the Regional Hospice board of directors and former member of Savings Bank of Danbury’s board of directors.

The Savings Bank of Danbury Foundation awarded a $7,500 grant to Regional Hospice of Western Connecticut in February at a reception in the Mill Plain office. The grant will be used to support the Healing Hearts Children’s Program.

Pictured: Stamford First President Bob Palermo with Stamford Symphony Executive Director Barbara Soroca.

Stamford First Bank – As part of the bank’s ongoing commitment to local not-for-profit organizations in the community, the bank recently made a donation to the Stamford Symphony.

Stafford Savings Bank’s president Mike Muzio (left) presents Gary Shearer, president of Citizens’ Scholarship Foundation of Stafford, with a $10,000 donation to the foundation. Stafford Savings Bank has supported the scholarship foundation since its inception in 1962. The foundation has awarded over $1 million to over 1,000 local students, helping them pursue their educational dreams.

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