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2 HARTFORDBUSINESS.COM | FEBRUARY 23, 2026 Biz Briefs Tel: (860) 236-9998 | Fax: (860) 570-2493 Copyright 2020. All rights reserved. Postmaster: Please send address changes to: Hartford Business Journal P.O Box 330 Congers, NY 10920-9894 Subscriptions Annual subscriptions are $150.00. To subscribe, visit HartfordBusiness.com, email circulation@ hartfordbusiness.com, or call (845) 267-3008. Advertising For advertising information, please call (860) 236-9998. 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Tom Curtin | CEO, ext. 124, tcurtin@hartfordbusiness.com Editorial Greg Bordonaro | Editor, ext. 139 gbordonaro@hartfordbusiness.com Drew Larson | Web Editor, ext. 121 alarson@hartfordbusiness.com Beat: Energy Michael Puffer | Staff Writer, ext. 145 mpuffer@hartfordbusiness.com Beats: Real Estate, Economic Development, Banking & Finance David Krechevsky | Staff Writer, ext. 702 davidk@hartfordbusiness.com Beats: Health Care, Bioscience, State Government Harriet Jones | Staff Writer, ext. 145 hjones@hartfordbusiness.com Beats: Manufacturing, Cannabis, Professional Services Michael Juliano | Staff Writer mjuliano@hartfordbusiness.com Beat: Fairfield County Stephanie R. Meagher | Research Director Heide Martin | Research Assistant Steve Laschever | Photographer Business Tom Curtin | Publisher, ext. 124, tcurtin@hartfordbusiness.com Jessica M. Quinn | Associate Publisher, ext. 137 jquinn@hartfordbusiness.com Emily Paskind | Senior Accounts Manager, ext. 133, epaskind@hartfordbusiness.com Sadie Bride | Senior Accounts Manager, ext. 141, sbride@hartfordbusiness.com Michael Olender | Senior Accounts Manager, ext. 140, molender@hartfordbusiness.com Destiny Cyr | Operations & Administrative Specialist, ext. 138 dcyr@hartfordbusiness.com Tracy Rodwill | Human Resources Manager trodwill@nebusinessmedia.com Production Bartosz Zinowko | Production Director, ext. 147 bzinowko@hartfordbusiness.com Events Kathryn Pelletier | Events Manager, ext. 136 kpelletier@hartfordbusiness.com An Ethan Allen design center. Contributed Photo A Jewett City Savings Bank branch in Brooklyn, Conn. Contributed Photo Michael Alberts said the Mans- field-Willimantic area is underserved by community banks and the site will help reach nearby UConn and Eastern Connecticut State University. Founded in 1873, the bank has roughly $485 million in assets. New Haven biotech Arvinas names new CEO New Haven-based Arvinas Inc. has appointed longtime executive Randy Teel as president and chief executive officer, succeeding John Houston, who is retiring after leading the biotech- nology company since 2017. Teel, previously chief business officer, also joins the board. Houston will remain a board member and consultant, while Briggs Morrison has been elected board chair. The transition follows a period of restruc- turing, including workforce reductions and strategic shifts tied to Arvinas' partnership with Pfizer and the breast cancer drug candidate vepdegestrant. upholstered wood products from Mexico, along with higher duties on goods sourced from China, Indonesia and India, as key cost pressures. The company raised some retail prices to offset the impact. Ethan Allen reported headcount of 3,149 employees as of Dec. 31, down 5% year over year. CT bank plans Mansfield branch near UConn campus with $2M investment Griswold-based Jewett City Savings Bank is seeking regulatory approval to open a new branch in Mansfield, repre- senting an investment of about $2 million and marking its eighth location. The bank plans a 2,000-square-foot building on leased land at 106 Storrs Road, across from the East Brook Mall, with an opening targeted for late 2026 or early 2027. President Stanley Black & Decker continues manufacturing pivot out of China to counter tariffs New Britain-based Stanley Black & Decker said it expects less than 5% of U.S.-sold products to be made in China by year-end, down from about 20% before tariffs took effect. The company has also raised prices to offset tariffs, inflation and higher material costs, executives said during a recent earnings call. Fourth-quarter net sales edged down to $3.68 billion from $3.72 billion a year earlier, while adjusted profit declined to $1.41 per share. Stanley reported $120 million in quar- terly savings from its cost-reduction program and said it is pursuing United States-Mexico-Canada Agreement certifications as production shifts. Tariffs weigh on Ethan Allen's earnings, lead to workforce reductions Danbury-based Ethan Allen Interiors Inc. said new tariffs on imported furniture and materials weighed on its fiscal second-quarter perfor- mance and contributed to continued workforce reductions. Net income for the quarter ended Dec. 31 totaled $11.7 million, down 21.7% from a year earlier. Manage- ment cited a 25% tariff on certain Glastonbury's HABCO acquired by Alaskan corporation G lastonbury-based aerospace manufacturer HABCO Industries LLC has been acquired by Cook Inlet Region Inc. (CIRI), an Alaska Native regional corporation. Founded in 1970, HABCO produces and services test equipment used to ensure proper maintenance of airframes and engines, and counts Pratt & Whitney, Sikorsky and Boeing among its customers. The company employs about 60 people and operates from a 56,644-square-foot headquarters in Glastonbury, with an additional facility in Windsor. Financial terms were not disclosed. HABCO President and CEO Brian Montanari said the deal positions the company to accelerate growth. CIRI reports a global portfolio exceeding $1 billion in assets. HABCO Industries President and CEO Brian Montanari. HBJ Photo | Steve Laschever