Hartford Business Journal

36 HARTFORDBUSINESS.COM | MARCH 4, 2024 POWER 50 to evaluate each decision, we are seeing many of our clients in Connecticut continue to proceed with equipment purchases. In the M&A market, the level of activity is slower than it was when borrowers had access to very low interest rates for acquisition financing." Gianni graduated from Providence College with a bachelor's degree in political science and humanities. Born in Hartford, he currently resides in West Hartford. 34 David Glidden A s consolidation continues to impact the banking industry, Middletown-based Liberty Bank has grown into the second- largest lender headquartered in Connecticut, with $7.4 billion in assets. Leading Liberty Bank's growth in recent years has been CEO David Glidden. Under Glidden, Liberty Bank has expanded in Hartford, tripling its downtown office space at 100 Pearl St. to about 5,000 square feet. The move accommodates Liberty's strategy to grow its Greater Hartford commercial lending portfolio up and down the I-91 corridor. Glidden, earlier this year, shared his insights into the banking industry's challenges and opportunities in 2024. He said Liberty Bank experienced net growth in commercial and retail lending in 2023. But the bank is also witnessing lower overall demand. It's more expensive for most busi- nesses to operate right now, he said. There's less demand for their goods and services, they're facing higher monthly payments and cash flows are being impacted. "They're also less likely to hire, expand or invest in capital equipment right now, all of which is weakening their appetite to borrow in this rate environment," Glidden said. On the flip side, Glidden said, banks are protecting their capital and increasing their lending standards to minimize borrowing risk. Commercial borrowers are also less likely to switch banks in a high- rate environment, he said. "Therefore, this lower loan demand is intensifying competition in the industry, impacting pricing disci- pline and compelling banks to grow existing customer relationships to increase their loan portfolios and look for other ways to grow capital," Glidden said. Liberty Bank has been innovative in its growth efforts under Glidden. Last year, it launched a digital bank — called Owners Bank — that offers services and loans for small businesses. It now operates in eight states, including Connecticut, Rhode Island, Massachusetts, Pennsylvania, Florida, Georgia, North Carolina and South Carolina. Glidden was named Liberty Bank's CEO in March 2019, bringing with him over 30 years of industry expe- rience. Most recently, he was TD Bank's regional president for the northern New England and upstate New York region. 36 Leander Dolphin A s managing partner of Shipman & Goodwin, Leander Dolphin leads one of the state's largest law firms with about 140 Connecticut attorneys. Dolphin took over the firm's lead- ership role in 2022, and her stature within Greater Hartford's legal industry has only grown since then. Gov. Ned Lamont appointed Dolphin to serve as chairperson of the 12-member Connecticut Judi- cial Selection Commission, which is responsible for seeking out and recommending judges for the Supe- rior, Appellate and Supreme courts. Dolphin began her legal career in 2004, and has led Shipman & Good- win's diversity, equity and inclusion committee. DEI has been one of her major focus areas. Dolphin was recog- nized in 2023 by the Women's Business Development Council for her commitment to cultivating equity as an attorney and in the broader community. That commitment was on display early this year when Shipman & Goodwin announced an all-female 2024 partner class. Four women lawyers were elevated to firm share- holders. In her practice, Dolphin regularly advises universities, colleges, public school districts, independent schools and other clients on a variety of education and employ- ment matters. Prior to joining Shipman, Dolphin was the vice president of human resources and general counsel for the Girl Scouts of Connecticut. Dolphin graduated from Wesleyan University in 1999, and received her law degree from the Howard Univer- sity School of Law in 2004. 35 Andreas Kapetanopoulos A ndreas Kapetanopoulos is a well-known, veteran Connecticut banker who was recruited by NBT Bank a few years ago when the New York-based lender was looking to break into the Connecticut market. Kapetanopoulos was hired to establish a regional office in Greater Hartford and recruit a team of commercial lenders. He has helped NBT Bank, with $13.7 billion in assets, grow its Connecticut foot- print since then — the bank has opened branches in West Hartford and Glastonbury. Most recently, NBT made its biggest splash yet in Connecticut, when it acquired Lakeville-based Salisbury Bancorp for $204 million. That gave NBT an additional $1.56 billion in assets and more than a dozen new branches, extending the bank's reach in Connecticut and the Hudson Valley region of New York. Over the course of a more than 30-year banking career mostly focused on Greater Hartford, Kapetanopoulos gained experience in many facets of the business, including commercial, small busi- ness, municipal and retail banking. Prior to joining NBT, he was senior vice president of small business lending for People's United Bank. Before that, he worked at Farm- ington Bank and TD Bank. Kapetanopoulos earned his MBA and bachelor's degree from Boston University.

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