Naugatuck Valley Financial Corp. hired as CEO the chief lending officer of Newtown Savings Bank, which has been among the most aggressive issuers in Connecticut of loans backed by the U.S. Small Business Administration.
New CEO William Calderara was previously a lending officer and executive with Ridgefield-based Fairfield County Bank. He lives in Newtown.
Former Naugatuck Valley Financial CEO John Roman resigned in August, without publicly disclosing a reason. Since August, Naugatuck Valley Financial’s chief risk and lending officers have been jointly running the company. In 2011, Roman’s compensation totaled $220,000.
Roman led Naugatuck Valley Financial for a decade, engineering its conversion from mutual to stock ownership, with the bank’s shares traded today on the Nasdaq. The company runs Naugatuck Valley Savings & Loan, which has more than $400 million in deposits across 10 branches.
In the first half of 2012, Naugatuck Valley Financial lost $1.3 million, with problem loans on the books increasing to $27.8 million from $19.4 million at the end of last year.
