Connecticut Mutual Holding Company

Effective January 1, 2010, Collinsville Savings Society joined Litchfield Bancorp and Northwest Community Bank as the third affiliate bank in Connecticut Mutual Holding Company.   The announcement was made jointly by Mark E. Macomber, president and CEO of the mutual holding company and Dennis T. Cardello, president and CEO of Collinsville Savings Society.  Connecticut Mutual Holding Company was first established in 2001 and at the time was the first multi-bank mutual holding company in Connecticut.

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About Northwest Community Bank
 

Northwest Community Bank is a mutually owned state-chartered bank, resulting from the January 1, 1996 merger of Winsted Savings Bank and Northwest Bank for Savings (formerly Mechanics Savings Bank of Winsted). Both of the former banks were headquartered in Winsted, Connecticut, and were open since 1860 and 1875 respectively. In the 140 years that the bank has operated, separately and together, it has helped local businesses and residents grow and prosper by providing safe FDIC-insured deposit products, as well as loans for any worthwhile purpose.

In addition to its headquarters at 86 Main Street, Winsted, Northwest Community Bank has branches in Avon, East Granby, Granby, New Hartford, Torrington and at 654 Main Street, Winsted. The bank employs 85 full-time and part-time employees and provides a full line of loan and deposit services for consumer and small business customers.

On January 31, 2001, Northwest Community Bank joined Litchfield Bancorp, headquartered in Litchfield, Connecticut, to form Connecticut Mutual Holding Company, the state's first multibank mutual partnership. The affiliation with Litchfield Bancorp will allow both banks to better serve their customers and improve efficiency without losing personal service and local identity.

The bank is managed by local people, who are committed to continuing the tradition of supporting local charitable and educational institutions. Directors, Officers and employees serve on the boards of organizations like the YMCA, the United Way, local Chambers of Commerce, local Rotary clubs, the Northwestern Connecticut Community College Foundation, the The Community Foundation of Northwest Connecticut and a host of others, too numerous to mention. The Bank’s goal is to provide its customers with products and services that are competitive and to do it with a smile and a hello, recognizing that its customers are its most important asset.

As of December 31, 2008, Northwest Community Bank’s total assets were $286,238,070, total loans were $174,111,911, and deposits totaled $190,099,052. The bank is well capitalized with a capital to asset ratio of 11.34%. To round out the full line of financial services to its communities, Northwest also provides Savings Bank Life Insurance, Trust services and Stock Brokerage services, including mutual funds and annuity products, through third party providers.