Adolfo Pena
Adolfo “Al” Pena has been appointed to the position of loan officer at Bethel-based Sterling Lending Group.
Pena is a resident of Danbury and has more than 25 years of experience in the financial service industry, including positions with Danbury Savings and Loan, Prudential Insurance and, most recently, in branch management with NewMil Bank.
“Al’s strong background in lending and his deep roots within our community are a tremendous asset to our company,” said Prem Bajaj, president of Sterling Lending.
Pena, who is also fluent in Spanish, will work in Sterling’s Bethel office.
Firm Sells Common Stock
Rockville-based Rockville Financial, the newly formed mid-tier stock holding company of Rockville Bank, has completed its initial stock offering. The mid-tier stock holding company sold about 8.4 million shares of common stock at $10 per share in a subscription offering to close at the maximum of the range.
The above-noted shares represent 43 percent of the total shares outstanding. Charter Oak Community Bank Corp., which is being formally renamed Rockville Financial MHC Inc., will hold 55 percent of the total shares outstanding. In addition, Rockville Financial intends to contribute 2 percent of the shares outstanding following the offering to the Rockville Bank Community Foundation, a charitable foundation to be established by Rockville Bank.
The shares of Rockville Financial will be traded on the Nasdaq National Market under the symbol RCKB. Keefe, Bruyette, & Woods, Inc. managed the subscription offering.
Pursuant to Connecticut State Banking Regulations, the bank’s employee stock ownership plan will purchase 5 percent of the shares sold in the offering and up to an additional 3 percent is expected to be purchased by the plan on the open-market following the offering.
The board of directors, officers and employees of Rockville Bank expressed their gratitude in the completion of a successful offering.
“We are thankful for the overwhelming support for the offering by our local customers,” said William J. McGurk, president and chief executive officer of Rockville Bank. “We look forward to this new challenge as a public company and the opportunities ahead as we continue to serve the needs of our customers and welcome new stockholders to the Rockville Bank family. Our board has affirmed our objective to remain independent and has voted to define Rockville Bank as an ‘independent community-minded bank.'”
Web Provider, Bank Unite
Guilford Savings Bank has become partners with Old Saybrook-based CEU.com to provide its licensed insurance advisors with state-required insurance continuing education courses through the Internet.
CEU.com, a leading nationwide provider of online CE courses, will provide the bank’s licensed insurance advisors with state-approved, Internet-based courses in life and health insurance.
Guilford Savings Bank employees will take online courses through CEU.com’s Web site, an easy-to-use interface that presents coursework in slideshow format and is further enhanced with audio lectures, according to Chris Schubert, a corporate account executive for CEU.com.
“Our goal is to provide insurance professionals and their employers with a cost-effective and efficient alternative to classroom CE,” said Schubert. “We meet their needs with an expansive curriculum, cutting-edge features and continuous credit tracking and reporting.”
Hank Baum, assistant vice president of branch administration for Guilford Savings Bank, said CEU.com provides flexibility and more course options.
“CEU.com’s training keeps our employees in the office,” noted Baum. “It eliminates travel expenses and allows employees to learn at their own pace.”
Insurance carriers, banks and licensed insurance professionals from across the country use CEU.com’s Internet-based courses to fulfill their state-mandated CE requirements.
