Why should a business bank with a local community bank?

I have spent my long banking career at a few (some people say “a number”) of banks here in Connecticut.  At each stop I have had the pleasure of working with small and medium sized businesses who work every day to promote their products and provide jobs for thousands of people in our state.  Each of those businesses also realize that the communities that they are in are very important to the success of their business.  It is those people in the community who buy their products, educate their employees and their employees’ children, and provide a secure environment in which to live.

Litchfield Bancorp believes in the same thing and practices it alongside of our local businesses. 

I have often said that the “money is Green and ours doesn’t buy more than another bank’s”.  But beyond the color of the money, doing business with a local Community Bank, such as Litchfield Bancorp, allows that institution to support the local charities not only in hard dollar donations but in the thousands of hours that the bank employees volunteer their time for the many local non-profits.  I am not sure where some of these very important agencies would be without the local supports they get from the local volunteers.  We are in this together.  The more business a Community Bank can do the more they will invest in the community.

  Litchfield Bancorp a Community Bank and that means we are not beholden to stockholders who are expecting a return (dividend) on their money.  Instead, the communities are the benefactors of the success of our success.  At Litchfield Bancorp we are part of the 3 bank mutual holding company (Litchfield Bancorp, Northwest Community Bank, and Collinsville Savings Bank) which allows us to leverage the assets and expertise of three institutions not only for our customers but for the local communities as well. 

So, if you are thinking of changing your financial partner, please consider us. If you are on the board of local non-profit, and sitting next to a local community banker, please consider asking her or him about their banking services.  We can compete with any bank in the area. 

Bob Teittinen

Senior Vice President & Chief Lending Officer

Author: Robert Teittinen

Bob Teittinen joined Litchfield Bancorp in 2011 as a senior vice president and chief lending officer. Bob is a 27 year veteran of banking and is known locally for his expertise in helping mid-sized businesses with commercial lending. Bob is responsible for growing the bank’s commercial loan portfolio and overseeing the bank’s commercial, residential and consumer loan portfolios. Prior to joining the bank, Bob was senior vice president at Union Savings Bank and throughout his career has worked at regional banks; Banknorth, Webster and Shawmut. He also spent 11 years in the private business sector, which he considers an invaluable asset when it comes to commercial lending. A resident of Litchfield, Bob plays an active role in the community. This includes his induction into the Chamber of Commerce of NW CT’s Hall of Fame in 2008. He currently serves on a number of boards including the Chamber of Commerce of NW CT Foundation, Naugatuck Valley Development Corporation and Easter Seals of Greater Waterbury.

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