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Although Stamford's newest financial institution has been undergoing exterior finishing touches over the past few weeks, company CEO Merrill J. Forgotson wants city residents to know Stamford First Bank is open for business. He also wants the bank, at 612 Bedford St., to be a part of the local community.
"As Stamford's hometown bank, Stamford First Bank will be able to provide a level of personalized banking and lending services that are not otherwise available in Stamford," Forgotson said in a company statement. "Stamford First Bank is also very committed to creating value in the community through active involvement with local organizations and events."
Forgotson is chief executive officer of The Bank of New Canaan, parent company of Stamford First Bank. The local bank opened its doors for business July 26. It plans a September grand opening.
Forgotson wants local residents to know that members of Stamford First Bank's management team have strong ties to the city. Divisional President Robert J. Palermo and Senior Vice President of Commercial Lending Linda West have worked for Stamford banks. Others also have worked at Stamford financial institutions or live in the city. Forgotson is a former president and CEO of Stamford-based Cornerstone Bank.
"Our unique understanding of local economic conditions, combined with local decision-making capabilities, will allow us to be far more flexible than other institutions," said Forgotson, adding that his company recognizes the need for a "personal relationship" with individual and business clients.
He said Stamford First Bank is "extremely competitive" with deposit and loan rates. Other amenities include free checking for businesses and individuals, and no-fee ATM/debit cards.
For more information, visit the bank's website at www.stamfordfirstbank.com.
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