Naugatuck Valley Financial (NVSL) said that two senior executives will serve as interim co-president and co-CEO while it waits on regulatory approval for an unidentified candidate to take on the job permanently.
The $558 million-asset company has been without a chief executive since John Roman resigned earlier this month. Sharon Blanchette, the chief risk officer, and Mark Graveline, the chief lending officer, will share titles at the holding company and its thrift, Naugatuck Valley Savings and Loan.
Naugatuck Valley submitted the name of a permanent president and CEO candidate, whom it did not identify, to the Office of the Comptroller of the Currency for its approval.
The Naugatuck, Conn., company, which converted from a mutual thrift in January, has reported two straight quarterly losses and expects to post another loss for the third quarter due to a $5.3 million writedown tied to bad loans.