NSB Names New

Chief Lending Officer

John F. Trentacosta, president and CEO of Newtown Savings Bank, recently announced the promotion of Margaret Powers to the position of chief lending officer.

Ms Powers, known to many as “Peg,” has a longstanding record of success with the bank that began in 1985, when she joined Newtown Savings Bank as a management trainee and quickly assumed greater roles of responsibility throughout the bank.

Since 1999, she has managed the Consumer Lending Division of the bank as senior vice president of retail lending. Added to her current responsibilities will be executive oversight for the commercial lending and credit functions.

During the past several years, Ms Powers has taken retail lending to new levels helping to make Newtown Savings Bank one of the top mortgage lenders in the State of Connecticut.

“Peg’s knowledge of the industry coupled with her outstanding leadership ability and her business acumen make her a natural choice to lead the full range of our lending activities,” said Mr Trentacosta. “We haven’t had an executive completely dedicated to the responsibilities of CLO since 2002. Today, the complexities of the business require this, and I couldn’t think of a more qualified person to assume the responsibility.” 

Ms Powers has served on the Housing Development Fund’s Smart Moves Loan Committee for more than years, and is also involved with the Catholic Charities Family Loan Program. She has a bachelor’s degree from Monmouth University and a diploma from the ABA Graduate School of Banking.

She has lived in Woodbury for the past 25 years and grew up in neighboring Washington, where her father still resides. She also has two children, two grandchildren, and two siblings who live in the area.