Union Savings Bank in Danbury signaled completion of its $35 million purchase of First National Bank of Litchfield by unveiling a new logo and branch signage.
The merged institution operates 28 Union Savings branches in the western half of the state and has $2.5 billion in assets.
Union said the merger with former First Litchfield Financial Corp. not only increases its presence in Litchfield County, but gives Union an entry into the Hartford area banking market.
“The combination with FNBL is a natural fit in terms of our locations and, more importantly, our operating philosophy as both banks are locally focused and have long standing ties to their communities,” said John C. Kline, Union president and chief executive officer.
Joseph Greco, formerly First National’s CEO, is now a Union Savings regional president overseeing customer retention, community outreach and business development.
Three former First National directors — John Brighenti, Gregory Oneglia and H. Ray Underwood Jr. — joined Union’s board.
