Client Success Stories

New England Bank
“Three Community Banks Consolidate into One.”

In July 2007 New England Bancshares announced the acquisition of Valley Bank headquartered in Bristol, CT. In May 2009 the decision was made to merge the two banks together into one bank New England Bank, followed in June 2009 with the acquisition of Apple Valley Bank.

In an effort to assist their customers with the transition, all 15 branch locations of the bank were run as “divisions of New England Bank” retaining their original Enfield, Valley, and Apple Valley identities. This worked very well but was eventually followed by changing the signage of all their banking facilities in June of 2011 to New England Bank. The bank has expanded its marketing with the new branding campaign “This is My Community and I Am New England Bank” highlighting many of the bank’s associates and their involvement in the communities they serve.

The bank has positioned itself to be a major player in the commercial and consumer banking market in Connecticut. Jim O’Donnell, New England Bank’s Vice President-Commercial Deposit Services states that most institutions offer commercial deposit services like sweep accounts, repurchase agreements, remote capture, and other cash management services like ACH and wires, but he shares “what separates us is our local, high touch service. We offer big bank services with a community banking touch.” O’Donnell goes on to share, “We meet with a prospect, analyze their situation, and then create a plan to improve their financial position and assist them in growing their business.” O’Donnell recalls where an analysis of one company’s business accounts demonstrated that they could cover their service charges and earn $1,000 per month by simply switching products and adjusting deposit balances. Taking time to understand a customer’s needs and advising them accordingly has helped New England Bank to increase its overall deposits by more that 20% in just a few years.

Scott Nogles, Chief Financial Officer of New England Bank, stresses that none of this, or other lending and banking services, could occur without a strong core processor. He is clear to point out, “our technology and processing partner COCC has been instrumental in the development of our business.” Nogles recalls COCC helping New England Bank through the consolidation of databases during the merger. With their assistance the transition was accomplished seamlessly with minimal customer impact. “With COCC’s expertise in compliance, accounting, loan and deposit operations, and through New England Bank’s partnership with COCC, our bank has benefitted from a combination of best practices and advanced technology to serve the financial needs of our customers,” Nogles remarks.

Building off their 95 year heritage in the communities they serve, this community bank centered in the Connecticut River Valley, is well capitalized and ONE strong player positioned to be what they focus on being…“All the Bank You’ll Ever Need.”