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November 4, 2019

New York bank to break into CT market with Greater Hartford office

Photo | NBT Bank NBT Bank’s Vermont regional headquarters in Burlington.
By Joe Cooper

A New York-based community bank that operates in six states and has nearly $10 billion in assets is entering the Connecticut market with some familiar names.
 
Norwich, N.Y.-based NBT Bank  announced Monday it will establish a regional office in Greater Hartford to continue its recent growth in New England.

Photo | Contributed
Andreas Kapentanopoulos

NBT, a publicly traded bank with $9.7 billion in assets, says it’s hired Andreas Kapentanopoulos, who has almost three decades of banking experience, to lead its Connecticut expansion. He will be advised by long-time Connecticut banker John J. Patrick Jr., who serves as vice chair of NBT Bank’s New England advisory board. 
 
Patrick was the CEO and chairman of Farmington Bank before it was purchased by People’s United Bank last year. 
 
NBT hasn’t opened an in-state office yet but is looking for real estate in Greater Hartford, officials told Hartford Business Journal. It’s looking to hire about 12 workers for a space up to 5,000 square feet.
 
NBT, which has approximately 170 employees and $1.5 billion in loans regionally, says it’s been building up its reach in New England over the last decade. It currently has 150 locations across New York, Massachusetts, Vermont, New Hampshire, Maine and Pennsylvania.
 
It enters Connecticut at a time of continued consolidation within the industry.

“Andreas is cultivating a Connecticut team with the experience and flexibility to deliver high-quality, responsive commercial banking service to customers ranging from small to mid-sized and more,” said Matthew K. Durkee, NBT’s president of New England. “We expect to be announcing more new team members over the next several weeks and a regional headquarters location in the first quarter of 2020.”

Kapentanopoulos will lead NBT’s Connecticut division after spending some 27 years in commercial, small business, municipal and retail banking.

He most recently served the last year as senior vice president (SVP) of SBA and small business lending for Bridgeport’s People’s United Bank.
 
Kapentanopoulos previously was SVP of small business and municipal banking for Farmington Bank between 2009 and 2018, according to his LinkedIn profile. 

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