Connecticut

PSB Holdings in Putnam, Conn., plans to convert from mutual ownership to a stock-owned bank.

SBT Bancorp in Simsbury, Conn., plans to raise about $7.5 million through a private placement of subordinated debt and $8.6 million through a public offering of common stock.

Bankwell Financial Group in New Canaan, Conn., has issued $25.5 million in subordinated debt and it plans to exit the Small Business Lending Fund program.

The Credit Union League of Connecticut (CULCT) has unveiled a new "consumer-focused" brand to increase CU awareness through a new website: www.ctcreditunions.org.

Webster Financial in Waterbury, Conn. has hired a deputy chief financial officer from Citigroup.

Webster Financial in Waterbury, Conn., reported second-quarter profit of $50.5 million, a 12% jump from a year ago, as mortgage banking revenue improved.

Synchrony Financial in Stamford, Conn., has agreed to issue private-label cards on behalf of Newegg, an online retailer of consumer electronics.

Synchrony Financial signed a multiyear extension with Chevron to issue cards and the two companies introduced a new rewards program.

Citizens Financial Group in Providence, R.I., has named two new state presidents for Citizens Bank in Connecticut and Massachusetts.

Liberty Bank in Middletown, Conn., has agreed to buy Naugatuck Valley Financial in Naugatuck, Conn.

Washington Trust Bancorp in Westerly, R.I., has agreed to buy Halsey Associates, an investment advisory firm in New Haven, Conn.

Naugatuck Valley Financial in Naugatuck, Conn., has been freed from a regulatory order.

MERIDEN, Conn.—Small credit unions in Connecticut are set to receive marketing assistance for the rest of 2015 thanks to a partnership between the Connecticut CU League and a marketing firm specializing in credit union promotions.

People's United Financial in Bridgeport, Conn., reported higher first-quarter profit on higher lending fees and gains on the sale of loans.

Webster Financial in Waterbury, Conn., reported lower first-quarter profit as costs from adding personnel and an acquisition weighed on results.

Signature Bank in New York has opened a private banking office in Greenwich, Conn.

A hedge fund is pressuring Webster Financial in Waterbury, Conn., to consider spinning off its health savings account division.

Bankwell Financial Group in New Canaan, Conn., didn't have to look far to find a permanent leader.

NEW BRITAIN, Conn. — A task force comprised of local, state and federal law enforcement agencies is still trying to untangle the attempt to rob the local branch of Achieve Financial CU that included all the hallmarks of a great action movie: a dramatic home invasion, kidnapping and explosives.

MIDDLETOWN, Conn. — Seasons Federal Credit Union on Wednesday said it has received CDFI certification from the U.S. Department of the Treasury's Community Development Financial Institutions Fund.