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Web Site: http://www.ionbank.com
- East Side 1336 East Main St., Meriden, CT 06450
Tel: (203) 639-8866 Fax: (203) 317-3859

Ion Bank is an independent community-based bank committed to providing a full line of consumer and business products and services.

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Naugatuck Savings Bank Completes CEO Transition Charles J. Boulier, III Named Chief Executive Officer and President

January 1, 2013

On behalf of everyone at Naugatuck Savings Bank, I want to thank Mark for his dedicated service since joining the bank in 1970. Without his outstanding leadership and valuable experience, Naugatuck Savings Bank would not be the outstanding financial institution it is today, said Boulier. We all look forward to the future growth of our bank, for which Mark has so well positioned us. We wish him well. To recognize Yanarella's dedication to the bank and the community, Naugatuck Savings Bank also announced a $5,000 contribution to the Mark and Nichol Yanarella Fund at the Connecticut Community Foundation.

Last year Boulier was named President and Chief Financial Officer. He joined Naugatuck Savings Bank in 2004 as Executive Vice President and Chief Financial Officer, in 2009 he was elected President and Director of Castle Bank & Trust which was merged into Naugatuck Savings Bank. He is also the Vice President and Treasurer of Nutmeg Financial, MHC, the parent company of Naugatuck Savings Bank and the Sutherland Insurance Group. In addition he has served as a Director of the Bank and the MHC since 2010.

Prior to that, Boulier was Senior Executive Vice President, Treasurer & CFO for American Financial Holdings, parent company of American Savings Bank where he worked from 1993 to 2004. He was Senior Vice President of Finance and Investments at Centerbank from 1981 to 1993.

Boulier, a Chartered Financial Analyst, received his MBA in Finance from the University of New Haven and is a graduate of Bryant College with a degree in Accounting. He is Vice Chair and Director for the American Savings Foundation, Director and Treasurer for the Connecticut Community Foundation, and serves as a Finance Committee Member for St. Margaret Church. In 2010, he was named the United Way Naugatuck & Beacon Falls Campaign Coordinator of the Year. He resides in Wolcott with his wife, Beth. They have two children, Charles IV and Caitlin.

About Naugatuck Savings Bank Naugatuck Savings Bank, headquartered in Naugatuck, Connecticut, has been serving customers throughout Connecticut's Greater Naugatuck Valley and Central Connecticut since 1870. The bank is a wholly-owned subsidiary of Nutmeg Financial, MHC and is committed to helping individual customers as well as the community at large. With its 19 branches in 13 towns, including its newest location at 665 North Colony Road, Wallingford, it offers deposit services, mortgages, insurance, trust and investment services, business banking and online banking. Naugatuck Savings Bank has more than 260 employees and assets in excess of $948 million. For more information, stop in any of its branches, visit naugatucksavingsbank.com or call 203.729.4442. You can also follow the bank by clicking Like on the bank's Facebook page or on Twitter at by clicking here.

About Nutmeg Financial, MHC Nutmeg Financial Mutual Holding Company is the parent company to Naugatuck Savings Bank and the Sutherland Insurance Group.

Member News is provided as a service of the Midstate Chamber of Commerce and is also featured in the monthly "Chamber News" newsletter mailed to members.