Janet Richmond
Janet Richmond has been promoted to branch manager of Putnam Savings Bank’s Pomfret Center office.
Richmond joined the bank in 2001, working in the Operations Department before transferring to the Customer Service Department. She most recently served as senior customer service representative at the main office and is the bank’s IRA coordinator.
Richmond received her Bachelor of Science degree in sociology, with a double-minor in math and psychology, from Annhurst College. She is currently working toward her Master of Business Administration degree at Nichols College.
She is an active community volunteer, raising funds for the Deary Road Race, March of Dimes and the American Cancer Society’s Relay for Life. Richmond is also a past treasurer of both the Three C’s and Performing Arts of Northeast Connecticut. She is a lifelong resident of northeast Connecticut and makes her home with her husband and three daughters in Woodstock.
Richmond replaces Barbara Goloski as branch manager. Goloski has been named to head up the banking team at the Putnam Price Chopper office, which will be opening later this summer. The bank’s new Price Chopper office will offer one-stop shopping and seven-day-a-week, full-service banking.
Stock Repurchases OK’d
The board of directors at SBT Bancorp, the holding company of The Simsbury Bank & Trust Co., has authorized up to $1 million to be allocated toward purchases of the company’s common stock for a period of 18 months. The shares will be repurchased in the open market or through privately negotiated transactions from time to time as, in the opinion of management, market conditions warrant. The shares to be repurchased represent approximately 4 percent of the company’s outstanding shares as of June 30, 2006.
“We believe the company’s shares are an attractive investment opportunity – and therefore, the repurchase of our shares is an excellent use of corporate funds that will enhance shareholder value,” said Martin J. Geitz, president and chief executive officer of the bank.
The Simsbury Bank & Trust Co. is a locally controlled commercial bank for businesses and consumers with approximately $210 million in assets. The bank serves customers through full-service offices in Simsbury, Avon, Bloomfield, Canton and Granby, SBT Online Internet banking at simsburybank.com and free ATM transactions at 2,800 machines throughout the Northeast via the SUM program, in addition to thousands of ATM locations worldwide and 24-hour telephone banking.
OSI Unveils New Product
Glastonbury-based Open Solutions Inc., a provider of integrated enabling technologies for financial service providers across the United States, Canada and international markets, has announced the availability of the latest version of its relational core data processing application The Complete Banking Solution and The Complete Credit Union Solution-release 2006.1.
The latest release further enhances OSI’s advanced open platform by exploiting the strength of its unique universal data model and its customer/member-centric processes, and adds more functionality to further the company’s goal of making its open platform one of the standards in the world.
The new release of OSI’s system also incorporates the latest version of the Microsoft .NET platform (v2.0), further improving scalability and security as well as interfacing to a “Smart Client” design. The .NET architecture offers the ability to separate the system applications into multiple tiers to improve program performance and reduce deployment time.
St. Louis-based Aerospace Credit Union, with $160 million in assets, three branches and approximately 27,000 members, is beta-testing the release of The Complete Credit Union Solution.
“The system has an entirely new look and feel,” Kaye McMullin, process improvement/applications manager of Aerospace Credit Union. “It’s going to save time and make our daily operations more efficient by reducing the amount of clicks and the number of screens we have to access. The single sign-on feature is another time-saving aspect of this upgrade. This new version has far exceeded our expectations. I feel our staff will embrace the changes. Once they see it and begin to maneuver through the programs, they will realize how much time they’re saving.”
