Union Savings Bank Transition a Smooth One
By Michelle H. James
On March 31, Charles F. Frosch retired from Union Savings Bank after leading the bank as its president and CEO for the past 24 years. John C. Kline, who joined Union Savings Bank in 1994, is now the new president and CEO.
Frosch, or “Chic” as he is affectionately known, joined Union Savings Bank in May 1976 as treasurer and in 1982 was named president. He has played an instrumental role in the rapid growth of the bank, which now has branches that stretch from Ridgefield to the Massachusetts line. As a result of several acquisitions and expansion of the bank’s branch network during Chic’s tenure, Union Savings Bank has 19 offices in 11 communities, more than 300 employees, assets of $1.6 billion and is the fifth-largest bank based in the state.
Upon his retirement, Chic reflected, “It has been a great privilege and honor to lead what has turned out to be the premier banking organization in western Connecticut. A supportive board of trustees and a dedicated group of employees both contributed to the success of the bank. It is particularly gratifying to be associated with a mutual bank that has had a significant positive impact on its community.”
One of Chic’s greatest accomplishments was the development of a bright and talented management team that shares his philosophy and vision, now led by John Kline. A graduate of Boston College, Kline came to Union Savings Bank in 1994 from the former Union Trust Co., bringing with him valuable commercial banking experience. He and his management team, which includes second-in-command Jay Lent as COO and CFO, are positioned to lead the bank into the future as a strong mutual community banking organization.
In commenting on his appointment, Kline indicated that, “Chic epitomized the idea of what a mutual bank leader is supposed to be. He managed Union Savings Bank through all those years with year-to-year profitability and growth, yet he never lost the focus that the institution was chartered as a mutual bank to serve the public. Knowing I have big shoes to fill, my goal is to continue our steady path of growth by offering the latest in financial products while focusing more than ever on providing highly personalized and convenient service and reinvesting in our local communities. I am very comfortable with the fact that Union Savings Bank has the size to successfully compete in today’s very competitive banking environment. Moreover, I am committed to fulfilling the bank’s vision of being the bank of choice in western Connecticut.”
Michelle H. James is vice president of Union Savings Bank, based in Danbury.