Savings Bank of Danbury expands in New Milford
Published 5:27 pm, Wednesday, July 30, 2014
The Savings Bank of Danbury has expanded its commitment to Greater New Milford.
The bank recently opened a branch at the intersection of Sullivan Road and Danbury Road (Route 7 South) in New Milford.
This branch is the bank's 14th overall location, and the second one in New Milford.
President and CEO Kathy Romagnano presided over a recent ribbon-cutting, and was joined by Mayor Pat Murphy, as well as local business leaders, dignitaries, board members, community representatives and staff.
"This location is a great fit for the innovative products we offer, and the personal service we provide," Romagnano said. "Since the opening of our existing branch in the Big Y shopping center, we have watched the New Milford community continue to grow and expand."
"We look forward to further developing our relationships here," she said, "and continuing to support the community through the bank's foundation, general contributions budget and volunteerism."
The new, full-service branch will be managed by Debbie Hartman, branch manager/assistant vice president of the existing Kent Road location.
Overseeing operations at this new location will be Kathleen Hansen, assistant branch manager.
The space was conceived to highlight the bank's newest technological offerings, and will serve as office and training space.
New banking delivery methods showcased at the branch include a "smart" ATM that provides customers with images of all checks deposited; a "technology bar" that would allow for demonstrations of the bank's progressive electronic banking products, and video conferencing to offer customers immediate access to residential mortgage, small business banking or investment representatives.
Established in 1849 and based at 220 Main St., Danbury, the Savings Bank of Danbury is a mutual savings bank with assets in excess of $840 million.
Its 14 branch offices are in New Milford, Bethel, Brookfield, Danbury, New Fairfield, Newtown, Southbury and Waterbury.
"The Savings Bank of Danbury is a well-regarded institution which has a long record of profitability, abundant capital and strong management," said John Carusone, president of the Bank Analysis Center in Hartford. "Many community banks seek to expand their franchise through branching."
"Many community banks continue to ride the sentiment of a certain public disaffection, with larger national and regional banks and are seeking to expand their share of market," Carusone said.