Issue link: https://nebusinessmedia.uberflip.com/i/1065590
DECEMBER 24, 2018 • HARTFORD BUSINESS JOURNAL | 29 BANKING & FINANCE LARGEST IN-STATE BANKS (Ranked by deposits as of June 30, 2018 Largest in-state banks (Ranked by deposits as of June 30, 2018) Rank Bank Conn. deposits (000)/ Market share Assets (000) Net loans and leases/ Net income Q4 2017 (000) Conn. offices Head of bank Date established 1 Webster Bank 137 Bank St. Waterbury, CT 06702 203-578-2200; public.websteronline.com $18,601,100 13.71% $27,044,965 $17,344,759 $280,552 115 John R. Ciulla (1) President & CEO 1870 2 People's United Bank (2) 850 Main St. Bridgeport, CT 06604 203-338-7001; www.peoples.com $17,462,131 12.87% $44,302,248 $32,391,041 $346,986 174 John P. Barnes President & CEO 1988 3 United Bank 225 Asylum St. Hartford, CT 06103 866-959-2265; www.bankatunited.com $4,051,489 2.99% $7,198,025 $5,428,774 $59,920 33 William H.W. Crawford IV President & CEO 1858 4 Liberty Bank 315 Main St. Middletown, CT 06457 888-570-0773; www.liberty-bank.com $3,621,989 2.67% $4,791,372 $3,585,555 $40,192 55 Chandler J. Howard (3) President & CEO 1825 5 Union Savings Bank 226 Main St. Danbury, CT 06810 866-830-4200; www.unionsavings.com $1,664,282 1.23% $2,179,479 $1,673,432 $11,431 26 Cynthia C. Merkle President & CEO 1866 6 Bankwell Bank 208 Elm St. New Canaan, CT 06480 203-972-3838; mybankwell.com $1,470,928 1.08% $1,866,931 $1,520,879 $16,114 13 Christopher Gruseke CEO 2002 7 Fairfield County Bank 150 Danbury Road Ridgefield, CT 06877 877-431-7431; www.fairfieldcountybank.com $1,197,084 0.88% $1,513,112 $1,103,711 $1,544 16 David A. Schneider CEO 1871 8 First County Bank 160 Atlantic St. Stamford, CT 06901 203-462-4400; www.firstcountybank.com $1,094,216 0.81% $1,646,311 $1,200,480 $1,651 17 Reyno A. Giallongo Jr. Chairman & CEO 1851 9 ion Bank 251 Church St. Naugatuck, CT 06770 877-729-4442; ionbank.com $1,051,989 0.78% $1,301,947 $1,028,021 $3,315 19 Charles J. Boulier III President & CEO 1870 10 Newtown Savings Bank 39 Main St. Newtown, CT 06470 203-426-2563; www.nsbonline.com $972,508 0.72% $1,285,044 $1,021,413 $4,781 14 Kenneth L. Weinstein (4) President & CEO 1855 11 Savings Institute Bank and Trust Co. 803 Main St. Willimantic, CT 06226 860-423-4581; www.savingsinstitute.bank $948,567 0.70% $1,584,413 $1,238,186 $5,595 18 Rheo A. Brouillard President & CEO 1842 12 Chelsea Groton Bank 1 Franklin Square Norwich, CT 06360 860-448-4200; www.chelseagroton.com $895,145 0.66% $1,110,450 $787,472 $6,088 14 B. Michael Rauh Jr. President & CEO 1854 13 Thomaston Savings Bank 203 Main St. Thomaston, CT 06787 855-344-1874; thomastonsavingsbank.com $893,175 0.66% $1,017,221 $683,263 $2,379 13 Stephen L. Lewis President & CEO 1874 14 Savings Bank of Danbury 220 Main St. Danbury, CT 06810 203-743-3849; sbdanbury.com $803,260 0.59% $1,050,775 $839,663 $7,050 14 Martin G. Morgado President & CEO 1849 15 Torrington Savings Bank 129 Main St. Torrington, CT 06790 860-496-2152; torringtonsavings.com $668,893 0.49% $834,788 $477,486 $4,835 7 John E. Janco President & CEO 1868 16 Patriot Bank 999 Bedford St. Stamford, CT 06905 203-251-7200; bankpatriot.com $668,125 0.49% $931,156 $713,350 $5,629 8 Michael Carrazza Chairman & CEO 1994 17 The Guilford Savings Bank 1 Park St. Guilford, CT 06437 203-453-2721; www.gsb-yourbank.com $585,209 0.43% $768,831 $543,250 $4,469 6 Timothy P. Geelan President & CEO 1875 18 Dime Bank 290 Salem Turnpike Norwich, CT 06360 860-859-4300; dime-bank.com $583,829 0.43% $832,147 $577,406 $2,698 11 Nicholas Caplanson President & CEO 1869 19 Fieldpoint Private Bank & Trust 100 Field Point Road Greenwich, CT 06830 203-413-9300; www.fieldpointprivate.com $571,114 0.42% $897,922 $666,012 $4,206 1 Robert S. Matthews CEO 2008 20 Laurel Road Bank (5) 1001 Post Road Darien, CT 06820 203-656-3500; www.laurelroad.com $515,139 0.38% $616,865 $473,139 ($1,898) 3 Robert K. Kettenmann President & CEO 2006 21 The Simsbury Bank & Trust Co. 981 Hopmeadow St. Simsbury, CT 06070 860-658-2265; www.simsburybank.com $439,644 0.32% $488,832 $394,111 $2,995 5 Martin J. Geitz President & CEO 1995 22 Connecticut Community Bank (6) 1495 Post Road East Westport, CT 06880 203-319-6260; www.ccbankonline.com $428,238 0.32% $474,612 $344,901 $18 9 David W. Tralka President & CEO, InsurBanc 1998 23 Salisbury Bank & Trust Co. 5 Bissell St. Lakeville, CT 06039 860-435-9801; www.salisburybank.com $422,345 0.31% $1,096,560 $802,372 $6,983 4 Richard J. Cantele Jr. President & CEO 1874 24 Windsor Federal Savings & Loan 250 Broad St. Windsor, CT 06095 860-688-8511; www.windsorfederal.com $389,259 0.29% $487,528 $352,709 $2,552 7 George Hermann President & CEO 1935 Source: Federal Deposit Insurance Corp. Note: Deposits and assets as of June 30, 2018; net loans and leases and net income as of Dec. 31, 2017 to reflect data for a full 12 months. (1) President since Oct. 2015; on Jan. 1, 2018, succeeded CEO James C. Smith upon his retirement. (2) People's United Bank acquired First Connecticut Bancorp, holding company of Farmington Bank, in Sept. 2018. Farmington Bank had $3.2 billion in deposits at the time the deal closed. (3) Expected to retire by Dec. 31, 2018. (4) Succeeded John Trentacosta upon his retirement, effective Jan. 1, 2018. (5) Formerly known as Darien Rowayton Bank. In April 2018, the bank adopted the name of its online lending division, Laurel Road Bank. Data for net loans and leases and net income are listed under Darien Rowayton Bank, Dec. 31, 2017. (6) Operates the following divisions: Darien Bank & Trust Co., Greenwich Bank & Trust Co., InsurBanc, Norwalk Bank & Trust Co., Stamford Bank & Trust Co. and Westport National Bank. —Compiled by Heide Martin. Webster Bank non-executive Chairman Jim Smith flirted with a run for governor in 2018, but he ended his bid in April citing complications enrolling with the Republican Party. In a major deal, People's United Bank, with $44 billion in assets, purchased Farmington Bank, with $3.2 billion in assets and 25 branches, for $544 million. Hartford community lender United Bank bought six New England branches run by Waterbury super-regional lender Webster Bank, deepening its push into Connecticut's shoreline markets as well as Massachusetts and Rhode Island. The bank also restructured its mortgage-lending business, which led to some layoffs. Thomaston Savings Bank is looking to grow its Greater Hartford footprint with plans to invest about $1 million to open its 14th branch overall and first in Farmignton. HOW THE TOP 5 FARED: Total deposits, In-state banks (in 000s) % 2017 2018 change Webster Bank $17,754,903 $18,601,100 4.77% People's United Bank $17,179,250 $17,462,131 1.65% United Bank $3,678,632 $4,051,489 10.14% Liberty Bank $3,575,777 $3,621,989 1.29% Union Savings Bank $1,680,640 $1,664,282 -0.97%