The U.S. will soon see a new mutual bank launch for the first time in nearly 50 years now that bank regulators have approved a New Hampshire-based de novo bank.
Stamford-based First County Bank has named the bank’s president and three community members to its board of corporators.
By combining into a single bank, three jointly-owned Litchfield County lenders hope to glean advantages. Stephen Reilly leads the combined Northwest Community Bank as the institution charts a path forward.
Though it does not intend to issue common stock, Guilford Savings Bank plans to reorganize as a stock bank and has received approval from Connecticut’s banking commissioner to move forward.
Union Savings Bank’s charitable foundation has awarded $200,000 in grants to 20 nonprofit organizations.
After graduating into a very difficult job market in 1974, John Trentacosta said he would have taken a job in any sector. He considered himself lucky to land a job at Banker’s Trust Co. in New York, and from that moment forward, he fell in love with banking.