BNC Financial Group (BNFI) in New Canaan, Conn., has promoted Robert J. Palermo to become the president of Bank of Fairfield.

Palermo previously served as the divisional president of Stamford First Bank, a division of BNC's Bank of New Canaan.

The $528 million-asset company said in a press release that Palermo led the two-year-old Stamford First division to profitability within two years of its creation.

Palermo "has been a great asset to our organization, both as a senior manager and a lender," Peyton R. Patterson, BNC's chief executive, said in a Thursday press release. "Under his leadership … we will continue to strengthen our ability to deliver" at Bank of Fairfield.

The four-year-old Bank of Fairfield reported assets of $128 million at the end of the second quarter.

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