WILLIMANTIC, Conn.--(Business Wire)--
SI Financial Group, Inc. (NASDAQ Global Market: SIFI), parent
company of Savings Institute Bank & Trust Company ("Savings
Institute"), has completed its acquisition of Bank of Southeastern
Connecticut's branch office located in New London, Connecticut. The
New London branch opened on Monday, March 3rd at 15 Masonic Street,
next to the post office, in the heart of New London as Savings
Institute's 22nd branch office.
"The New London location now brings the Savings Institute's unique
brand of banking and convenience to five communities in the New London
region," explains Bill Anderson, Vice President, Retail Banking.
"Unique products like e.SI Rewards Checking(TM), 501 Checking(TM) for
Non-Profits and, in many branches, our signature LifeStyle Lobby(TM)
are all now more accessible to customers from East Lyme to Gales
Ferry."
While the bank has long had branches in Stonington and Groton, it
has over the course of the last three years opened new branches in
Gales Ferry, East Lyme, Colchester and now New London. With five
locations in the immediate area, Savings Institute is looking to bring
an added dimension of choice to not only personal banking customers,
but also commercial customers throughout southeastern Connecticut. The
Savings Institute's New London branch is pleased to retain the
majority of the Bank of Southeastern Connecticut's staff.
"One of the key advantages of being a bank of our size is our
ability to fill what we see as a void in the marketplace," comments
Paul Suprin, the New London branch's Commercial Loan Officer. "With 22
branches in total, we're at a size that can provide important value to
customers needing slightly larger financing.... while not being so big
that decisions are delayed in bureaucratic red tape," concludes Mr.
Suprin.
SI Financial Group, Inc. is the holding company for Savings
Institute Bank and Trust Company. Established in 1842, Savings
Institute Bank and Trust Company is a community-oriented financial
institution headquartered in Willimantic, Connecticut. Through its
branch locations, the Bank offers a full-range of financial services
to individuals, businesses and municipalities within its market area.
SI Financial Group, Inc.
Sandra Mitchell, 860-456-6509
Vice President / Director of Corporate Communications
investorrelations@banksi.com
Copyright Business Wire 2008
