James R. Babcock
James R. Babcock has joined The Simsbury Bank & Trust Co. as a vice president of commercial lending. Babcock is based in the bank’s Avon office and will develop and serve its client base in the southern half of the Farmington Valley. He will also serve as the bank’s residential construction financing specialist for real estate developers.
“Jay brings a depth of experience and knowledge to this role as well as the hands-on, individualized approach to working with his customers that blends well with the bank’s customer service focus,” said Paul R. Little, the bank’s chief lending officer.
Babcock has 20 years of banking experience, including a broad commercial lending background, and was most recently with First National Bank of Suffield, where he was a vice president of commercial lending. Prior to that, he was with New England Savings Bank and Connecticut Bank & Trust. Babcock and his family live in South Glastonbury.
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, free ATM transactions at 2,800 machines throughout the Northeast in addition to thousands of ATM locations worldwide, and 24-hour telephone banking. The bank offers investment services through its wholly owned subsidiary, SBT Investment Services.
Mortgage Groups Sponsoring Expo
The Connecticut Mortgage Bankers Association, with participation of the Connecticut Association of Mortgage Brokers, will sponsor the Winter Expo in the Sun on Monday, Jan. 29. The expo will take place at the Mohegan Sun Hotel & Convention Center in Uncasville.
The function is open to all, but will be especially useful to anyone involved with the mortgage industry.
The Connecticut Association of Mortgage Brokers will participate in the educational portion of the day’s events with a seminar, “Options and Opportunities in the Changing Market,” from 10 a.m. to noon. The seminar will be conducted by Mortgage Guaranty Insurance Corp.
Anyone interested in receiving more information about booth reservations, seminars, sponsorship opportunities and/or attendance is welcome to contact the CMBA office at (860) 232-9141 or info@cmba.org.
Scott Joins Board
Gregory O. Scott, former president of The William T. Beazley Co., has joined Hamden-based Quinnipiac Bank’s board of directors, subject to receipt of all necessary regulatory approvals. Active on the Connecticut real estate scene for nearly 25 years, Scott is now a private investor and real estate developer. Officials said his commitment to a healthy local economy fits with the bank’s goal of providing a local banking alternative in Greater New Haven.
“I, along with our board of directors, are proud to have Greg on our team,” said President and Chief Executive Officer Mark A. Candido.
The bank’s board of directors also has approved the extension of the stock offering from the previous expiration date of Jan. 4, 2007. The public offering of the bank’s common stock seeks to raise a maximum of $13 million in equity capital and, unless fully subscribed earlier, the offering will remain open until a date when the bank has accepted subscriptions equal to the minimum number of shares offered (1.06 million) or July 9, 2007, whichever is earlier.
