Naugatuck Valley Mutual Holding Co. in Connecticut has joined a growing list of companies planning second-step conversions.

The company's chief executive officer, John Roman, said the conversion plan, announced Tuesday, would provide capital for its subsidiary, the $542 million-asset Naugatuck Valley Financial Corp., to acquire Southern Connecticut Bancorp Inc. of New Haven for roughly $19.5 million. The deal is contingent on the parent company's conversion from a mutual holding company to a stock holding company.

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