Connecticut

Two New England thrifts have beefed up their commercial-lending operations by hiring teams of bankers from recently acquired banks.

First Connecticut Bancorp Inc.'s stock rose 10% Thursday in its first day trading on the Nasdaq after converting to a stock company from mutual ownership.

Webster Financial Corp. in Waterbury, Conn., has hired a former top executive at NewAlliance Bancshares as its chief financial officer.

Webster Financial Corp. in Waterbury, Conn., has tapped a former top executive at NewAlliance Bancshares to fill its position of chief financial officer.

After years of experimentation, some banks are finding the right mix of technology, ambiance and human interaction. The most effective formula varies, and the only constant is that there are no absolutes.

Patriot National Bancorp Inc. saw its losses widen in the first quarter, but asset quality improved substantially as the Stamford, Conn., company continued shed problem loans.

Naugatuck Valley Financial Corp. in Connecticut has won permission from the Office of Thrift Supervision to convert from a mutual holding company to a 100% stock-owned company.

First Niagara Financial Group Inc. in Buffalo, N.Y., reported a slight dip in earnings compared with the previous quarter as it completed its acquisition of NewAlliance Bancshares Inc.

The Buffalo, N.Y., company said that the $1.5 billion purchase created a bank with over $30 billion of assets and $18 billion of deposits in Connecticut, Massachusetts, Pennsylvania and New York.

Webster Financial Corp. in Waterbury, Conn., on Friday reported a $33.5 million first-quarter profit, compared with a $6 million loss a year earlier, as credit costs subsided.

First Niagara Financial Group has cleared the final hurdle in its bid to buy NewAlliance BancShares Inc. in New Haven, Conn.

First Niagara Financial Group Inc. in Buffalo, N.Y., has hired a former Wells Fargo & Co. executive to oversee its New England expansion.

Patriot National Bancorp Inc. in Stamford, Conn., said Thursday that a turnaround plan it implemented last year helped it narrow its net loss by 36%, to $15.4 million.

People's United Financial Inc., which recently entered mortgage warehousing, has amassed credit applications for almost $500 million, according to a company executive.

The $17.8 billion-asset company said Monday that it had reached a marketing agreement with Boston Celtics star Ray Allen, who also played at the University of Connecticut. Webster has a similar marketing deal with Jim Calhoun, who coached Allen in college.

NewAlliance Bancshares Inc. in New Haven, Conn., reported a 25% increase in annual net income Tuesday. The $9 billion-asset company, which is set to be acquired by First Niagara Financial Group, earned $58 million in 2010, or 59 cents a share, compared with $46.4 million, or 47 cents a share, in 2009.

SI Financial Group Inc. in Willimantic, Conn., said late Wednesday that it had completed its conversion to a stock holding company from a mutual holding company.

Webster Financial Corp. in Waterbury, Conn., said it had given more responsibilities to its chief financial officer, Gerald Plush.

Rockville Financial Inc. in Connecticut said Monday that it has hired a former banker at Wells Fargo & Co. to be its next president and chief executive.

Webster Financial Corp. said Tuesday that it plans to raise $156.6 million to help pay off its Troubled Asset Relief Program funding.