Naugatuck Valley Financial Corp., the holding company for Naugatuck Valley Savings and Loan, has appointed two of its senior vice presidents to share the duties of president and CEO while the bank awaits regulatory approval of its permanent selection for the posts.
Sharon A. Blanchette has over 20 years of experience in risk management, including six years in the banking industry. She joined Naugatuck Valley in November 2011 and her primary responsibilities as chief risk officer. Prior to joining Naugatuck Valley, Blanchette was a vice president of internal audit and control with a community bank in Massachusetts and an assistant director for a bank risk management consulting firm.
Mark S. Graveline has more than 33 years of lending and community bank experience, including seven years at Naugatuck Valley where he has been chief lending officer. He is a director of the Waterbury Housing Fund and a member of the Prospect Economic Development Commission.
John C. Roman left the post in August after leading the bank through a second-stage stock conversion that raised $33 million in capital. However, the bank also found itself in hot water when it discovered it had underpaid about $800,000 in interest on certificates of deposit over a five-year period. He had been bank president since 1999 and remains a director.
The bank has submitted a notice with respect to a candidate for the permanent position to the Office of the Comptroller of the Currency for its non-objection.
