Betty R. Sullivan
Betty R. Sullivan has been elected chairman of the board of directors at Rockville Financial, the holding company for Rockville Bank. Sullivan succeeds Albert Kerkin Jr., who had served as chairman since 2001. In August, Kerkin completed his final term on the board after 14 years.
“Betty Sullivan has close to 40 years of impressive experience in the banking industry, both as a banker, an officer and a member of the board of directors at Rockville Bank,” said William J. McGurk, Rockville Bank president and chief executive officer. “I look forward to working with Betty and the board as we work hard to continue our progress and excel at meeting the needs of customers and prospective customers. Betty generates great ideas and suggestions about all aspects of our products and customer service.”
Sullivan has been a member of the Rockville Bank’s board since April 1999, serving as its vice chairman for the past three years, as chairman of its Lending Committee and on its Human Resources Committee.
Prior to her election to the board, she worked at Rockville Bank for 10 years, retiring in 1999 as vice president/senior loan officer. For several months after leaving that position, she worked part-time as the bank’s community reinvestment officer.
Sullivan came to Rockville Bank from Sentry Bank in Hyannis, Mass., where she was the senior vice president for three years. Previously, she spent 15 years at Heritage Savings & Loan Association in Manchester, most recently as its executive vice president. Before that, she worked for 10 years at First National Bank of Manchester (now Hartford National Bank), leaving that job as a loan origination specialist.
Sullivan studied at the University of Connecticut, the American Institute of Banking, the Savings & Loan Institute and Manchester Community College. A member of the board of directors of the Manchester Interfaith Housing Corp., she also is a corporator of the Eastern Connecticut Health Network and serves as treasurer of the board of directors of the Northfield Green Condominium Association in Manchester.
Sullivan lives in Manchester with her husband Charles. She has three daughters and four grandchildren.
Kerkin was first elected to the board of directors in 1992 and served for 14 years in various positions. He was a member of the Human Resources Committee and served as its chairman for several years. He also was a member of the Lending Committee and served as vice chairman of the board for three years.
Over the years, Kerkin was involved in many of the programs and activities that Rockville Bank provides in the communities it serves. Two areas were especially important to him: the academic and vocational scholarships provided to public high school students in each community the bank serves, and the institution’s continued emphasis on remaining the best independent community bank in the state.
Prior to serving on the board of directors, Kerkin was a professional educator for over 34 years. He served 10 years as superintendent of schools in Vernon.
Rockville Bank is an 18-branch community bank that serves Coventry, Rockville, Vernon, Ellington, Tolland, Manchester, East Hartford, South Windsor, East Windsor, Suffield, Enfield, Somers, Glastonbury and South Glastonbury. It operates four supermarket locations that are open seven days a week.
SBT Announces Income
SBT Bancorp, the holding company for The Simsbury Bank & Trust Co., has announced net income of $116,000 in the third quarter of 2006 compared to $448,000 a year ago. Net income per diluted share was 14 cents compared to 53 cents a year ago. Total assets on Sept. 30 were $215 million.
The third quarter was the bank’s first full quarter operating with five full-service branches. Bank officials said net income for the quarter was impacted by an increase in expenses due to the addition of two new full-service branches and the effects of a challenging interest-rate environment on the bank’s net-interest income growth.
On Sept. 30, loans outstanding were $156 million, an increase of $6 million, or 4 percent, over a year ago. Total deposits were $194 million, an increase of $8 million, or 4 percent, over 2005.
