Teittinen is a 27-year veteran of banking, and is known locally for his expertise in helping small to mid-sized businesses with commercial lending. At Litchfield Bancorp, Teittinen will be responsible for growing the bank's commercial loan portfolio while maintaining its stable risk model.
Executive vice president and chief operating officer Thomas J. Villanova, who has overseen the bank's commercial lending program and will be moving into the role of president and chief executive officer on Jan. 1, sought out a seasoned lender. "A tough economy requires someone with a lot of experience,”
Prior to joining Litchfield Bancorp, Teittinen’s position at the Union Savings Bank Litchfield branch (which merged with First National Bank of Litchfield in 2010) included responsibility for the bank’s commercial loan portfolio as well as overseeing a staff of 20 covering commercial, industrial, small business and commercial real estate markets.
Earlier in his career, Teittinen worked at regional banks Banknorth, Webster and Shawmut.
Mixed in with his long banking career, he also spent eleven years in private business, which Teittinen considers an invaluable asset when it comes to commercial lending. According to Villanova, “Bob’s experience in business is an advantage in commercial lending: he can really identify with the needs of small and mid-size business owners.”
Teittinen was inducted into to the Chamber of Commerce of Northwest Connecticut's Hall of Fame in 2008. He currently serves on a number of boards and committees in the community, including the chamber’s foundation, the Naugatuck Valley Development Corporation, and Easter Seals of Greater Waterbury.
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Litchfield Bancorp is a mutual savings bank with assets of $209 million offering full service offices in Litchfield, Torrington, Oakville, Washington and Lakeville. To find out why Every Customer Counts, go to LitchfieldBancorp.com or call 860-567-9401.