HARTFORD, Conn. - Northeast Federal Corp. named Kirk W. Walters, 37, its chief executive on Monday. He will succeed George P. Rutland, 61, the company's chairman since 1988. Mr. Walters also will be chief executive of the company's subsidiary bank, Northeast Savings. The positions will become effective Jan. 1.

Mr. Walters will add the title of chief executive to those of president and chief operating officer, positions he has held since 1991.

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