Southern Connecticut Bancorp, Inc.

Type: Public
On the web: http://www.scbancorp.com
Employees: 33
Employee growth: (5.7%)

Southern Connecticut Bancorp is the holding company for The Bank of Southern Connecticut, which serves greater New Haven from about five locations. The bank offers standard deposit products, such as checking and savings accounts, CDs, and IRAs. It is mainly a business lender, with operating loans and commercial loans secured by real estate comprising about 90% of the company's loan portfolio. Construction, consumer installment, and home equity loans round out its lending activities. Southern Connecticut Bancorp and Naugatuck Valley Financial called off plans to merge in 2010.

Key numbers for fiscal year ending December, 2010:
Sales: $8.2M
One year growth: 15.7%
Net income: ($1.4)M

Officers:
Chairman, Southern Connecticut Bancorp and The Bank of Southern Connecticut: Elmer F. Laydon
President, EVP, and COO, Southern Connecticut Bancorp and The Bank of Southern Connecticut: John H. Howland
SVP and CFO: Stephen V. Ciancarelli

Competitors:
Bank of America
People's United Financial
Webster Financial

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