Pajama Time

Five winners accept $200 each toward home heating from branch managers Monique Mailloux of the Putnam office and Maria Thomas of the Thompson office, Branch Supervisor Lori Guimont of the Brooklyn office, and Assistant Branch Manager Leah Gaboury of the Thompson office of The Citizens National Bank. After a random drawing Robert DonFrancisco of Brooklyn, Debra Torres of Thompson, Robert LeBeau of Thompson, Marge LaFontaine of Thompson, and Blenda Salvas of Putnam were named the winners of the grand prizes provided by the bank as part of its recent “Pajama Time” promotion.  The promotion culminated with a Pajama party on Dec. 13.  “Pajama Time” is a promotion that the bank conducts each year in order to collect new pajamas for children that attend local schools. Courtesy photo.

 

 

PUTNAM — Thomas A. Borner, president  and CEO of Putnam Bank,  announced recently that its Application  for a Connecticut State Banking Charter, with Federal Reserve membership,  has been approved. 

“This is an important structural change” said Borner. “This will serve to reinforce our eastern Connecticut-based community commitment.”

 Putnam Bank was originally chartered in Connecticut in 1862 as Putnam Savings Bank and has maintained its headquarters  in Putnam while its branch network  has grown to eight branches along the Route 395 corridor to Gales Ferry. 

Current assets stand at $477 million. After the regulatory broadening of lending products in the 1980s between savings banks and commercial banks the bank dropped “Savings” from its name to Putnam Bank. 

The charter was converted to a federal charter in 2003 under the federal agency of the Office of Thrift Supervision (OTS). Congress dissolved the OTS as part of its recent banking reform, renewing the opportunity to convert the charter to one more favorable to a community bank.

“This will serve to confirm  our dominant presence as not only a major retail lender of mortgages and home equity loans, but also our ever expanding commercial portfolio” according to Borner. “Our identity as a long serving eastern Connecticut bank is very important to us and to our customers. This change will be seem less to our customers in any fashion and rather will ease some of the regulatory burden and reduce expense to the bank,” he added.

 

Farmers Market

POMFRET --- The Pomfret Farmers Market is held from 4 to 7 p.m. Tuesdays at the Grill 37 on Rt. 44. New vendors always welcome. Call Sarah Green at 860-792-1104.

 

Then

This is the Basto homestead in 1917 in South Woodstock. It cost $80,000 to build.  Photos courtesy of Judith Basto Sevcik.

 

& Now

This is the same building today. It's on Peake Brook Road in S. Woodstock.