Naugatuck Valley in Connecticut Hires CEO

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Naugatuck Valley Financial (NVSL) in Connecticut has named William C. Calderara its president and chief executive.

Calderara will also serve as the president and CEO for Naugatuck Valley Savings and Loan. He succeeded John Roman, who resigned in August. Two senior executives — chief risk officer Sharon Blanchette and chief lending officer Mark Graveline — had been sharing the titles on an interim basis.

The $559 million-asset company said Wednesday that the Office of the Comptroller of the Currency did not object to Calderara's appointment.

Calderara has more than 25 years of experience at several banks. He previously served as the chief lending officer at Newtown Savings Bank in Connecticut.

Naugatuck, which converted from a mutual thrift in January, has reported losses for the last two quarters and expects another loss in the third quarter because of a planned $5.3 million writedown tied to bad loans.

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