Connecticut

Joseph Stilwell has reached a truce with another banking company.

A former managing director at the New York investment banking firm Jefferies and Co, has been convicted of multiple offenses involving a scheme to defraud customers trading in residential mortgage-backed securities.

The $21 billion-asset Webster has become the official bank of Yale University athletics, it announced last week. The three-year agreement will give Webster advertising and promotional opportunities at Yale sporting events and venues.

Executives at Webster Financial, Independent Bank and People's United agree that their retail operations have to change -- but the consensus stops there. Some are adding branches, some are cutting them, and they are all using new technologies in different ways.

Salisbury Bank and Trust (SAL) in Lakeville, Conn., has agreed to purchase a branch from Union Savings Bank in Danbury, Conn.

Webster Financial (WBS) in Waterbury, Conn., reported lower fourth-quarter profit after taking a big charge tied to the Volcker Rule.

Neiman Marcus is being investigated by states including Connecticut and Illinois over the theft of customer credit-card data by hackers, and Target is being sued by Putnam Bank of Connecticut for its data breach during the holiday season.

Patriot National Bancorp (PNBK) in Stamford, Conn., is in the market for a new president and chief executive.

Torrington Savings Bank of Connecticut has hired a replacement for its retiring chief executive.

Webster Financial (WBS) in Waterbury, Conn., has promoted Joseph Savage to president.

The $680 million-asset company said Wednesday that it launched Bankwell Investment Services after hiring adviser Louis Czerwinski from First Niagara Investment Services.

SBT Bancorp (SBTB) in Simsbury, Conn., has hired David MacKenzie as its chief mortgage and consumer lending officer.

The $483 million-asset company issued 370,000 shares of common stock to a prominent financial institution investor, according to a press release Monday. The investor was not named in the release.

Cynthia Merkle has joined the $2.5 billion-asset mutual as executive vice president and COO, it announced Friday.

Webster Financial in Waterbury, Conn, said Gerald Plush, its president and chief operating officer, will step down at the end of the month.

Patriot National Bancorp in Stamford, Conn., has appointed Christina Maier as its new chief financial officer.

SBT said Monday that Richard Sudol will succeed Anthony Bisceglio, who is retiring from the $382 million-asset company.

A former bishop of a Mormon church in Connecticut was sentenced to nearly four years in federal prison for running a fraud scheme that roped in a participant in the Troubled Asset Relief Program.

After less than a year on the job, BNC Financial CEO Peyton Patterson is looking at new markets, products and a plan to bring in up to $50 million in capital.

SI Financial Group (SIFI) in Willimantic, Conn., said it will report a third-quarter loss of up to $750,000 because of a rise in its loan-loss provision.