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Peyton Patterson Is At It Again


After building NewAlliance Bancshares into one of the largest depository institutions in New England and arranging for its sale a year and a half ago to First Niagara Financial Group, the 56-year-old Patterson walked away and started thinking about what to do next.

Reluctant to commit to something new right away, she consulted a bit for some regional and international banks and taught business administration at George Washington University. She hired a life coach and subjected herself to a “disciplinary review” to help her plot out her future.

Around the same time, BNC Financial Group, the holding company for three small banks in Patterson’s home state of Connecticut, was trying to map out some next steps of its own. Blake Drexler, BNC’s chairman, says the board was looking for a strategy that would match its serious growth ambitions.

“We were a $500 million-asset bank and we were asking the question, ‘How do we get to be a $2 billion to $3 billion asset bank?'” Drexler says.

One obvious answer: hire Patterson.

 

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