Bailout Bank Bio: First Litchfield Financial (First National Bank of Litchfield)

May 26, 2009 | 2 min read | Print Article

First Litchfield Financial Corporation is a bank holding company that operates through its wholly owned banking subsidiary, The First National Bank of Litchfield (the Bank). The Bank is a nationally chartered commercial bank. The Bank engages in a range of commercial and personal banking activities, including accepting demand deposits (including money market accounts), accepting savings and time deposit accounts; making secured and unsecured loans and leases to corporations, individuals and others; issuing letters of credit; originating mortgage loans, and providing personal and corporate trust services. The Bank has three subsidiaries, Lincoln Corporation, Litchfield Mortgage Service Corporation and First Litchfield Leasing Corporation. The Bank's Trust and Wealth Management Department provides a range of personal and corporate trust and trust-related investment services. The company was founded in 1814 and is headquartered in Litchfield, Connecticut.

In December the company announced that it was participating in the Treasury Department’s Capital Purchase Program. Under the program the company received $10 million in exchange for preferred stock.

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Bailout Bank Bio: First Litchfield Financial (First National Bank of Litchfield)


Federal Equity Investment	$10 million
Total Revenue	$31.7 million (2008) $31.5 million (2007)
Net Income	-$4.5 million (2008) $1.9 million (2007)
Number of Employees	117
Corporate Headquarters	Litchfield, Connecticut
Business Sector	Bank
Officers and Directors	Greco, Joseph, President, Chief Executive Officer, Director of the Company and the Bank Orr, Charles, Chairman of the Board of the Company and the Bank Other Officers and Directors
Corporate Website	https://www.fnbl.com/
Executive Compensation	First Litchfield Financial (First National Bank of Litchfield)