Bank chairman retires
After 31 years, Fairfield County Bank Chairman Paul S. McNamara will step down as chair.
During his tenure, McNamara has seen the bank grow from two to 17 branches, including one in Wilton, and from $98 million in assets to $1.5 billion. Capital has grown from $8 million to $200 million during that time.
He orchestrated the Ridgefield and Fairfield County Savings Bank merger along with the Bank’s expansion into insurance with the Carnall Insurance acquisition and the introduction of investments with the launch of Fairfield County Financial Services.
Asked what he considered a highlight as chairman, he said he was most proud of the loans made to customers so they could buy homes or purchase and expand businesses. The bank also donated more than $1 million last year to local organizations and employees logged over 4,000 hours of community service.
Succession plans will be announced in the coming year.