Northwest Community Bank’s roots date back to the 1860s and fast forwarding through 160 years, I’m pleased to report that we continue to thrive with strong profitability and a firm commitment to our founding fathers’ philosophy of being a pillar in the communities we serve. As a mutual bank, we believe working together with our customers and employees—not shareholders—for the good of the whole community.
Northwest Community Bank remains among the strongest banks in the State of Connecticut. At the beginning of 2021, our Connecticut Mutual Holding Company affiliates joined us to operate under one charter. With Litchfield Bancorp – A Division of Northwest Community Bank and Collinsville Bank – A Division of Northwest Community Bank, our assets are approaching the $1Billion mark. Our asset size provides more than double the level of capital required to obtain the highest capital ranking of “well capitalized” by the FDIC.
In our local communities, our employees and directors remain intimately involved, donating and volunteering to serve in various capacities for numerous non-profit organizations that have positive impacts on all of us. In addition, we continue to fulfill our commitment to our communities by annually contributing approximately 10% of our profits back to the community. We are proud of our important role in helping the communities we serve…as we have been doing for over 160 years.
Of course, it’s the loyal support of our customers that makes our success possible. The money you deposit and the loans you hold enable us to make our significant donations to local non-profits. Your business spurs economic growth by creating jobs that are filled by your family, friends and neighbors. Banking locally with us, you can rest assured that you are having a powerful, direct impact in your local community.
As the leader of this organization, I am very proud of the work of our team and their unwavering commitment to our organization and the communities we serve. I am confident that our founding fathers would be proud of the fact that we have never lost sight of their goal in the formation of our bank: to create a financial organization that would partner with the members of our community to foster a safe and secure financial future.
I thank our customers, directors, advisory board members, officers and staff for supporting our mission as a community bank by remembering our roots of providing exceptional products and services to our customers, and being an integral part of the communities we serve.
Stephen P. Reilly
President & CEO