Naugatuck Valley Financial Corp. in Naugatuck, Conn., is again planning a second-step conversion.
Naugatuck Valley said late Friday that it would sell the 60% of itself currently held by its mutual holding company in an offering in the second quarter.
In February 2010 the $580 million-asset company announced plans for a second-step conversion while buying the $156 million-asset Southern Connecticut Bancorp Inc. in New Haven. Naugatuck failed to gain regulatory approval for the deal, calling it off in November.
