NewAlliance Bank
Encyclopedia
NewAlliance Bancshares doing business as NewAlliance Bank, was the second largest Connecticut
-based savings bank. It was formed in 2004 through the union of The Savings Bank of Manchester, New Haven Savings Bank, and Tolland Bank.
First Niagara Bank
announced its acquisition of NewAlliance in August 2010.
NewAlliance Bank has seen consistent growth since its formation. Following are list of happenings:
Connecticut
Connecticut is a state in the New England region of the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and the state of New York to the west and the south .Connecticut is named for the Connecticut River, the major U.S. river that approximately...
-based savings bank. It was formed in 2004 through the union of The Savings Bank of Manchester, New Haven Savings Bank, and Tolland Bank.
First Niagara Bank
First Niagara Bank
First Niagara Bank is a Federal Deposit Insurance Corporation-insured regional banking corporation headquartered in the historic Larkin Terminal Warehouse in Buffalo, New York.-History:...
announced its acquisition of NewAlliance in August 2010.
History
NewAlliance Bank has its roots dating back to 1838 when it was chartered with the formation of New Haven Savings Bank. It expanded as NewAlliance Bank in 2004 through the union of The Savings Bank of Manchester (Connecticut Bancshares, Inc.), New Haven Savings Bank and Tolland Bank (Alliance Bancorp of New England).NewAlliance Bank has seen consistent growth since its formation. Following are list of happenings:
- In July 2005, acquired Trust Company of Connecticut
- In January 2006, acquired Cornerstone Bank (Cornerstone Bancorp, Inc.)
- In January 2007, Westbank, a bank based mainly in Massachusetts, became part of the company.
- In April 2011, New Alliance merged with First Niagara BankFirst Niagara BankFirst Niagara Bank is a Federal Deposit Insurance Corporation-insured regional banking corporation headquartered in the historic Larkin Terminal Warehouse in Buffalo, New York.-History:...
. http://www.nhregister.com/articles/2011/04/07/business/doc4d9c7cec7509e115430652.txt
Company
- NewAlliance Bancshares, Inc. formed in 2003, listed on NYSE in 2004 under the symbol "NAL"
- Trust Company of Connecticut, a division of NewAlliance Bank, acquired by NewAlliance in July 2005, offers investment management, as well as trust and estate planning and has over $1.4 billion in assets under managementAssets under managementAssets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
, tripling the Bank's trust assets under management. - NewAlliance Investments, Inc., member of Financial Industry Regulatory AuthorityFinancial Industry Regulatory AuthorityIn the United States, the Financial Industry Regulatory Authority, Inc., or FINRA, is a private corporation that acts as a self-regulatory organization . FINRA is the successor to the National Association of Securities Dealers, Inc. ...
(FINRA) and Securities Investor Protection CorporationSecurities Investor Protection CorporationThe Securities Investor Protection Corporation is a federally mandated, non-profit, member-funded, corporation in the United States. It protects investors in certain securities from financial harm if a broker-dealer fails...
(SIPC), a wholly owned subsidiary of NewAlliance Bancshares, Inc., offers investment and insurance products to individuals and businesses
Quick facts
Stats as of December 31, 2009:- Total Deposits: $5.0 billion
- Total Assets: $8.4 billion
- Branches: 87
- ATMs: over 100
- Geographic Reach: ConnecticutConnecticutConnecticut is a state in the New England region of the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and the state of New York to the west and the south .Connecticut is named for the Connecticut River, the major U.S. river that approximately...
and Western MassachusettsWestern MassachusettsWestern Massachusetts is a loosely defined geographical region of the U.S. state of Massachusetts which contains the Berkshires, the Pioneer Valley, and some or all of the Swift River Valley. The region is always considered to include Berkshire, Franklin, Hampshire, and Hampden counties, and the... - Rank Among New EnglandNew EnglandNew England is a region in the northeastern corner of the United States consisting of the six states of Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut...
-based Banks: 4th largest - Rank Among Connecticut-based Banks: 3rd largest