Naugatuck Valley in Connecticut Appoints Interim CFO

Naugatuck Valley Financial (NVSL) in Connecticut has named a longtime financial manager to become its interim chief financial officer.

Thomas Van Lenten will serve as interim CFO at the holding company and Naugatuck Valley Savings and Loan. The Office of the Comptroller of the Currency did not object to Van Lenten’s appointment, the $559 million-asset company said Wednesday.

Van Lenten is a director at CFO Consulting Partners in Princeton, N.J. He started his career at a large accounting firm and later had a number of different financial management positions at financial services companies. He has also served as an interim chief financial officer and an interim chief accounting officer for other small banks.

Van Lenten's experience as a financial manager and certified public accountant should benefit Naugatuck Valley as it continues to search for a permanent replacement, William C. Calderara, the company’s president and chief executive, said in a press release.

Calderara was named as the company's president and chief executive in late September.

Naugatuck Valley, which converted to a public company from a mutual thrift in January, reported a loss for the first half of 2012. It expects another loss in the third quarter because of a planned $5.3 million writedown tied to bad loans. The company is expected to report its quarterly results next week.