Named manager
GROTON — Michael Ballirano has been named branch manager of Charter Oak Federal Credit Union’s newest branch, which will open this June at the credit union’s new headquarters complex on Route 85 in Waterford.
“Mike Ballirano has the right banking and financial-services experience to lead our team at our newest branch, which is the 14th in our network across New London and Windham counties,” said Brian A. Orenstein, Charter Oak’s CEO.
The opening of Charter Oak’s new headquarters-and-branch complex in Waterford coincides with the credit union’s 75th anniversary since its founding in 1939 as the Groton Shipbuilders Federal Credit Union.
Ballirano, who will supervise a staff of six at the new branch, is currently branch
manager of Charter Oak’s Montville and Niantic branches. He has been with Charter Oak since
2011. Ballirano is a Griswold resident and graduate of the Norwich Free Academy. He holds a bachelor’s degree in management from Keene State College in Keene, N.H.
Dividends declared
PUTNAM — The Board of Directors of Citizens National Bancorp, Inc. announced the payment of a regular quarterly dividend. A cash dividend of $0.25 per share has been declared to shareholders of record on April 22, 2014, and payable on May 12.
Citizens National Bancorp Inc. is a one-bank holding company which owns The Citizens National Bank headquartered in Putnam, with branch offices in Thompson, Woodstock, Killingly, and Brooklyn. The bank assets are currently in excess of $406 million.
Then
This is the former grist mill in East Putnam in 2007. Putnam Town Crier file photos.
& Now
This is the same site after the mill building was destroyed by an arsonist.
PUTNAM — April 14 Putnam’s proposed Quinebaug regional tech park may have taken its first step toward being truly regional.
The Board of Selectman in Scotland April 14 voted unanimously to allow its first selectman Daniel Syme the authority to enter into formal negotiations with the Town of Putnam.
Putnam selectmen J. Scott Pempek and Owen Tarr, along with Town Administrator Doug Cutler, presented the tech park to the Scotland selectmen.
Pempek said after a presentation last week, the Scotland selectmen met April 14 to discuss it further. Pempek added, “Many residents in attendance were in favor of the concept expressing a desire to diversify their tax base.”
Pempek said there are still three more towns that have expressed an interest in looking into the possibility of joining the regional tech park. He said presentations are scheduled with those towns “within the next two weeks.”
Cutler had said recently that if the town of Putnam applies for a $2 million grant with the state’s Manufacturing Assistance Act grant with another town it may win more than the 50 percent it would get if it applied alone.