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“We’re constantly discussing options for our customers in the face of hardship,” says Patriot Bank President Richard Muskus Jr. “We will do what we can as an organization to help them – the bank is not going to abandon them.”
Invoke the prefix “crypto” to most people, and negative thoughts are likely to follow; after all, dictionary.com defines the term as a noun meaning...
Newtown Savings Bank’s new tagline — “The Power of Local” — comes with what President Ken Weinstein says is a twist: They really mean it.
Still looming: the effect of the Small Business Administration's closure. “We’ve got loans that have been approved or are in the process of being approved that are waiting for the SBA,” says Patriot Bank President Richard Muskus Jr. “The SBA had better be ready for a tidal wave of backlog.”
The Danbury-based bank will continue to operate as usual with its customers regardless of whether the Connecticut Department of Banking approves the move.
There is a common misconception that community banks, especially the smaller ones, are limited in the types of services and state-of-the-art technologies they offer their customers.
"With the community bank model, especially with mutual savings banks, it’s such a win/win/win, for the bank, its customers, the community and the employees," Weinstein says. "I feel very fortunate to have more or less fallen into this industry."
“We will struggle to grow by zero to 1 percent," forecasts Connecticut Business & Industry Association President and CEOJoe Brennan.
Although there are only three tenants at The Village at Lexington Gardens since it opened last spring, more are expected soon at the 65,000-square-foot complex.
The real challenge in today's environment is identifying and hiring new lending talent, bankers say.
The mutual holding company will be established officially in the first quarter of 2017.
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