Issue link: https://nebusinessmedia.uberflip.com/i/716601
www.HartfordBusiness.com August 22, 2016 • Hartford Business Journal 9 To view the full list, please visit HartfordBusiness.com THE LIST Largest in-state banks (Ranked by deposits as of June 30, 2015) Rank Company Total deposits in market (000) Market share Assets Q1 2016 (000) Net loans and leases 3/31/2016 (000) Net Income 3/31/2016 (000) Conn. offices Head of bank/ title Date established 1 People's United Bank 850 Main St. Bridgeport, CT 06604 203-338-7001; www.peoples.com $15,545,570 12.91% $38,888,591 $28,352,701 $65,297 150 John P. Barnes, President & CEO 1988 2 Webster Bank NA 137 Bank St. Waterbury, CT 06702 203-578-2230; public.websteronline.com $15,437,939 12.82% $24,916,201 $15,714,586 $57,526 117 James C. Smith, Chairman & CEO 1870 3 Liberty Bank (1) 315 Main St. Middletown, CT 06457 888-570-0773; www.liberty-bank.com $2,946,121 2.45% $4,390,715 (2) $3,266,455 $11,834 55 Chandler J. Howard, President & CEO 1825 4 United Bank 25 Park St. Vernon/Rockville, CT 06066 866-959-2265; www.bankatunited.com $2,898,049 (3) 2.41% (3) $6,304,808 $4,630,965 $13,452 33 William H.W. Crawford, President & CEO 1858 5 Farmington Bank 1 Farm Glen Blvd. Farmington, CT 06032 877-376-2265; www.farmingtonbankct.com $1,908,957 1.59% $2,701,067 $2,356,661 $3,944 26 John J. Patrick Jr., Chairman, president & CEO 1851 6 Union Savings Bank 226 Main St. Danbury, CT 06810 203-830-4200; www.unionsavings.com $1,641,938 1.36% $2,197,984 $1,658,731 $3,173 27 Cynthia C. Merkle, President & CEO 1866 7 Fairfield County Bank 150 Danbury Road Ridgefield, CT 06877 203-438-6518; www.fairfieldcountybank.com $1,266,608 1.05% $1,550,869 $1,235,943 $2,498 17 David A. Schneider, CEO 1871 8 First County Bank 160 Atlantic St. Stamford, CT 06901 203-462-4400; www.firstcountybank.com $1,019,552 0.85% $1,478,139 $1,048,786 $485 17 Reyno A. Giallongo Jr., Chairman & CEO 1851 9 Bankwell Bank 208 Elm St. New Canaan, CT 06480 203-972-3838; mybankwell.com $956,410 0.79% $1,416,544 $1,177,905 $3,817 10 Christopher Gruseke, CEO 2002 10 ion Bank 251 Church St. Naugatuck, CT 06770 877-729-4442; ionbank.com $845,863 0.70% $1,135,387 $910,754 $1,577 19 Charles J. Boulier, III, President & CEO 1870 11 Savings Institute Bank and Trust Co. 803 Main St. Willimantic, CT 06226 860-423-4581; www.savingsinstitute.com $790,138 0.66% $1,501,525 $1,159,742 $1,643 20 Rheo A. Brouillard, President & CEO 1842 12 Chelsea Groton Bank 1 Franklin Square Norwich, CT 06360 860-823-4800; www.chelseagroton.com $756,540 0.63% $992,624 $699,375 $1,417 14 B. Michael Rauh Jr., President & CEO 1854 13 Newtown Savings Bank (4) 39 Main St. Newtown, CT 06470 203-426-2563; www.nsbonline.com $739,193 0.61% $1,100,232 $918,954 $1,105 19 John Trentacosta, President & CEO 1855 14 Thomaston Savings Bank 203 Main St. Thomaston, CT 06787 860-283-1874; thomastonsavingsbank.com $716,465 0.60% $898,233 $633,936 $878 13 Stephen L. Lewis, President & CEO 1874 15 Savings Bank of Danbury 220 Main St. Danbury, CT 06810 203-743-3849; sbdanbury.com $684,733 0.57% $925,358 $787,543 $1,822 14 Harold C. Wibling, Interim president & CEO 1849 16 Torrington Savings Bank 129 Main St. Torrington, CT 06790 860-496-2152; torringtonsavings.com $653,907 0.54% $814,648 $415,763 $1,009 8 John E. Janco, President & CEO 1868 17 Fieldpoint Private Bank & Trust 100 Field Point Road Greenwich, CT 06830 203-413-9300; www.fieldpointprivate.com $584,574 0.49% $809,070 $584,493 $641 1 Robert S. Matthews, CEO 2008 18 Dime Bank 290 Salem Turnpike Norwich, CT 06360 860-859-4300; dime-bank.com $511,940 0.43% $781,142 $542,069 $969 11 Nicholas Caplanson, President & CEO 1869 19 Darien Rowayton Bank 1001 Post Road Darien, CT 06820 203-656-3500; www.drbank.com $504,111 0.42% $604,014 $442,885 $402 3 Robert K. Kettenmann, President & COO 2006 20 The Guilford Savings Bank 1 Park St. Guilford, CT 06437 203-453-2721; www.gsb-yourbank.com $478,287 0.40% $635,195 $435,301 $1,023 7 Timothy P. Geelan, President & CEO 1875 21 Connecticut Community Bank NA 1495 Post Road East Westport, CT 06880 203-319-6260; www.ccbankonline.com $441,487 0.37% $468,954 $301,964 ($542) 9 David W. Tralka, President & CEO 1998 22 Patriot Bank NA 900 Bedford St. Stamford, CT 06901 203-251-7200; www.pnbk.com $426,603 0.35% $635,560 $479,936 $890 8 Kenneth T. Neilson, President & CEO 1994 23 Salisbury Bank & Trust Co. 5 Bissell St. Lakeville, CT 06039 860-435-9801; www.salisburybank.com $384,706 0.32% $891,825 $729,028 $1,722 5 Richard J. Cantele Jr., President & CEO 1874 24 Naugatuck Valley Savings and Loan (5) 315 Main St. Middletown, CT 06457 888-570-0773; www.liberty-bank.com $381,371 (6) 0.32% (6) NA NA NA 0 Chandler J. Howard, President & CEO, Liberty Bank 1922 Sources: Federal Deposit Insurance Corp. website: www.fdic.gov and banks Note: Number of Conn. offices as of Aug. 4, 2016 (1) Acquired Naugatuck Valley Financial Corp., parent to Naugatuck Valley Savings and Loan, effective Jan. 15, 2016. (2) Figure includes Naugatuck Valley Savings and Loan assets. (3) This figure has been updated since reported in Dec. 2015. (4) Main Street branch will relocate to 30-32 Church Hill Road. (5) Acquired by Liberty Bank as of Jan. 15, 2016. (6) Figure for Naugatuck Valley Savings and Loan for June 30, 2015. The updated 2016 figure will be included with Liberty Bank when available in October. —Compiled by Heide Martin. 6 Danbury, CT 06810 203-830-4200; www.unionsavings.com $1,641,938 1.36% $2,197,984 $1,658,731 $3,173 27 President & CEO 1866 7 Fairfield County Bank 150 Danbury Road Ridgefield, CT 06877 203-438-6518; www.fairfieldcountybank.com $1,266,608 1.05% $1,550,869 $1,235,943 $2,498 17 David A. Schneider, CEO 1871 8 First County Bank 160 Atlantic St. Stamford, CT 06901 203-462-4400; www.firstcountybank.com $1,019,552 0.85% $1,478,139 $1,048,786 $485 17 Reyno A. Giallongo Jr., Chairman & CEO 1851 9 Bankwell Bank 208 Elm St. New Canaan, CT 06480 203-972-3838; mybankwell.com $956,410 0.79% $1,416,544 $1,177,905 $3,817 10 Christopher Gruseke, CEO 2002 10 ion Bank 251 Church St. Naugatuck, CT 06770 877-729-4442; ionbank.com $845,863 0.70% $1,135,387 $910,754 $1,577 19 Charles J. Boulier, III, President & CEO 1870 11 Savings Institute Bank and Trust Co. 803 Main St. Willimantic, CT 06226 860-423-4581; www.savingsinstitute.com $790,138 0.66% $1,501,525 $1,159,742 $1,643 20 Rheo A. Brouillard, President & CEO 1842 12 Chelsea Groton Bank 1 Franklin Square Norwich, CT 06360 860-823-4800; www.chelseagroton.com $756,540 0.63% $992,624 $699,375 $1,417 14 B. Michael Rauh Jr., President & CEO 1854 13 Newtown Savings Bank (4) 39 Main St. Newtown, CT 06470 203-426-2563; www.nsbonline.com $739,193 0.61% $1,100,232 $918,954 $1,105 19 John Trentacosta, President & CEO 1855 14 Thomaston Savings Bank 203 Main St. Thomaston, CT 06787 860-283-1874; thomastonsavingsbank.com $716,465 0.60% $898,233 $633,936 $878 13 Stephen L. Lewis, President & CEO 1874 15 Savings Bank of Danbury 220 Main St. Danbury, CT 06810 203-743-3849; sbdanbury.com $684,733 0.57% $925,358 $787,543 $1,822 14 Harold C. Wibling, Interim president & CEO 1849 16 Torrington Savings Bank 129 Main St. Torrington, CT 06790 860-496-2152; torringtonsavings.com $653,907 0.54% $814,648 $415,763 $1,009 8 John E. Janco, President & CEO 1868 17 Fieldpoint Private Bank & Trust 100 Field Point Road Greenwich, CT 06830 203-413-9300; www.fieldpointprivate.com $584,574 0.49% $809,070 $584,493 $641 1 Robert S. Matthews, CEO 2008 18 Dime Bank 290 Salem Turnpike Norwich, CT 06360 860-859-4300; dime-bank.com $511,940 0.43% $781,142 $542,069 $969 11 Nicholas Caplanson, President & CEO 1869 19 Darien Rowayton Bank 1001 Post Road Darien, CT 06820 203-656-3500; www.drbank.com $504,111 0.42% $604,014 $442,885 $402 3 Robert K. Kettenmann, President & COO 2006 20 The Guilford Savings Bank 1 Park St. Guilford, CT 06437 203-453-2721; www.gsb-yourbank.com $478,287 0.40% $635,195 $435,301 $1,023 7 Timothy P. Geelan, President & CEO 1875 21 Connecticut Community Bank NA 1495 Post Road East Westport, CT 06880 203-319-6260; www.ccbankonline.com $441,487 0.37% $468,954 $301,964 ($542) 9 David W. Tralka, President & CEO 1998 22 Patriot Bank NA 900 Bedford St. Stamford, CT 06901 203-251-7200; www.pnbk.com $426,603 0.35% $635,560 $479,936 $890 8 Kenneth T. Neilson, President & CEO 1994 23 Salisbury Bank & Trust Co. 5 Bissell St. Lakeville, CT 06039 860-435-9801; www.salisburybank.com $384,706 0.32% $891,825 $729,028 $1,722 5 Richard J. Cantele Jr., President & CEO 1874 24 Naugatuck Valley Savings and Loan (5) 315 Main St. Middletown, CT 06457 888-570-0773; www.liberty-bank.com $381,371 (6) 0.32% (6) NA NA NA 0 Chandler J. Howard, President & CEO, Liberty Bank 1922 Sources: Federal Deposit Insurance Corp. website: www.fdic.gov and banks Note: Number of Conn. offices as of Aug. 4, 2016 (1) Acquired Naugatuck Valley Financial Corp., parent to Naugatuck Valley Savings and Loan, effective Jan. 15, 2016. (2) Figure includes Naugatuck Valley Savings and Loan assets. (3) This figure has been updated since reported in Dec. 2015. (4) Main Street branch will relocate to 30-32 Church Hill Road. (5) Acquired by Liberty Bank as of Jan. 15, 2016. (6) Figure for Naugatuck Valley Savings and Loan for June 30, 2015. The updated 2016 figure will be included with Liberty Bank when available in October. —Compiled by Heide Martin. 7 Fairfield County Bank 150 Danbury Road Ridgefield, CT 06877 203-438-6518; www.fairfieldcountybank.com $1,266,608 1.05% $1,550,869 $1,235,943 $2,498 17 David A. Schneider, CEO 1871 8 First County Bank 160 Atlantic St. Stamford, CT 06901 203-462-4400; www.firstcountybank.com $1,019,552 0.85% $1,478,139 $1,048,786 $485 17 Reyno A. Giallongo Jr., Chairman & CEO 1851 9 Bankwell Bank 208 Elm St. New Canaan, CT 06480 203-972-3838; mybankwell.com $956,410 0.79% $1,416,544 $1,177,905 $3,817 10 Christopher Gruseke, CEO 2002 10 ion Bank 251 Church St. Naugatuck, CT 06770 877-729-4442; ionbank.com $845,863 0.70% $1,135,387 $910,754 $1,577 19 Charles J. Boulier, III, President & CEO 1870 11 Savings Institute Bank and Trust Co. 803 Main St. Willimantic, CT 06226 860-423-4581; www.savingsinstitute.com $790,138 0.66% $1,501,525 $1,159,742 $1,643 20 Rheo A. Brouillard, President & CEO 1842 12 Chelsea Groton Bank 1 Franklin Square Norwich, CT 06360 860-823-4800; www.chelseagroton.com $756,540 0.63% $992,624 $699,375 $1,417 14 B. Michael Rauh Jr., President & CEO 1854 13 Newtown Savings Bank (4) 39 Main St. Newtown, CT 06470 203-426-2563; www.nsbonline.com $739,193 0.61% $1,100,232 $918,954 $1,105 19 John Trentacosta, President & CEO 1855 14 Thomaston Savings Bank 203 Main St. Thomaston, CT 06787 860-283-1874; thomastonsavingsbank.com $716,465 0.60% $898,233 $633,936 $878 13 Stephen L. Lewis, President & CEO 1874 15 Savings Bank of Danbury 220 Main St. Danbury, CT 06810 203-743-3849; sbdanbury.com $684,733 0.57% $925,358 $787,543 $1,822 14 Harold C. Wibling, Interim president & CEO 1849 16 Torrington Savings Bank 129 Main St. Torrington, CT 06790 860-496-2152; torringtonsavings.com $653,907 0.54% $814,648 $415,763 $1,009 8 John E. Janco, President & CEO 1868 17 Fieldpoint Private Bank & Trust 100 Field Point Road Greenwich, CT 06830 203-413-9300; www.fieldpointprivate.com $584,574 0.49% $809,070 $584,493 $641 1 Robert S. Matthews, CEO 2008 18 Dime Bank 290 Salem Turnpike Norwich, CT 06360 860-859-4300; dime-bank.com $511,940 0.43% $781,142 $542,069 $969 11 Nicholas Caplanson, President & CEO 1869 19 Darien Rowayton Bank 1001 Post Road Darien, CT 06820 203-656-3500; www.drbank.com $504,111 0.42% $604,014 $442,885 $402 3 Robert K. Kettenmann, President & COO 2006 20 The Guilford Savings Bank 1 Park St. Guilford, CT 06437 203-453-2721; www.gsb-yourbank.com $478,287 0.40% $635,195 $435,301 $1,023 7 Timothy P. Geelan, President & CEO 1875 21 Connecticut Community Bank NA 1495 Post Road East Westport, CT 06880 203-319-6260; www.ccbankonline.com $441,487 0.37% $468,954 $301,964 ($542) 9 David W. Tralka, President & CEO 1998 22 Patriot Bank NA 900 Bedford St. Stamford, CT 06901 203-251-7200; www.pnbk.com $426,603 0.35% $635,560 $479,936 $890 8 Kenneth T. Neilson, President & CEO 1994 23 Salisbury Bank & Trust Co. 5 Bissell St. Lakeville, CT 06039 860-435-9801; www.salisburybank.com $384,706 0.32% $891,825 $729,028 $1,722 5 Richard J. Cantele Jr., President & CEO 1874 24 Naugatuck Valley Savings and Loan (5) 315 Main St. Middletown, CT 06457 888-570-0773; www.liberty-bank.com $381,371 (6) 0.32% (6) NA NA NA 0 Chandler J. Howard, President & CEO, Liberty Bank 1922 Sources: Federal Deposit Insurance Corp. website: www.fdic.gov and banks Note: Number of Conn. offices as of Aug. 4, 2016 (1) Acquired Naugatuck Valley Financial Corp., parent to Naugatuck Valley Savings and Loan, effective Jan. 15, 2016. (2) Figure includes Naugatuck Valley Savings and Loan assets. (3) This figure has been updated since reported in Dec. 2015. (4) Main Street branch will relocate to 30-32 Church Hill Road. (5) Acquired by Liberty Bank as of Jan. 15, 2016. (6) Figure for Naugatuck Valley Savings and Loan for June 30, 2015. The updated 2016 figure will be included with Liberty Bank when available in October. —Compiled by Heide Martin. that needs to be addressed. We enjoyed a very good working relation- ship with Wells Fargo. At the same time, the industry is rapidly evolving. Going inde- pendent enables us to partner with Focus Financial Partners and provides us with an opportunity to take our practice, service and support of clients to the next level. Q: There are a lot of financial advisory firms in Greater Hartford. Is that mar- ket oversaturated? What's your targeted market/customer base? A: The principals at GYL have been work- ing with clientele in the Greater Hartford area and beyond for the last 20 years. The presence of other advisory firms has not been an impediment to our growth. Con- sistent with my comments regarding our ability to be able to provide transition plan- ning for other advisory firms, we anticipate there being consolidation in the industry. It is likely that consolidation will occur locally as well. As for our target market, we work with large and small institutions as well as high net worth private clientele. We assist defined-benefit and defined-contribution plan sponsors in meeting their fiduciary responsibilities relating to the prudent investment of plan assets. As for private clients, we help them navigate critical financial events so they can concentrate on enjoying life and living it on their terms. n Q&A Gerald Goldberg Create Your Next Happy hour Call for details Vito's by the Park 26 Trumbull St. Hartford, CT 06103 860-244-2200 Hold a private function for your business, featuring a personalized signature cocktail & celebratory bites!