Cynthia G. Gray

New England Bancshares, Inc. operates as a holding company for New England Bank which provides commercial banking services. The principal asset of the company is its investment in the Bank. The Bank is engaged in the business of attracting deposits from the general public and investing those deposits primarily in commercial real estate loans, residential real estate loans, commercial loans and to a lesser extent, construction and consumer loans. The company's loan portfolio comprises of Commercial Real Estate Loans and Residential Real Estate Loans. The Commercial Real Estate Loans segment is generally secured by properties used for business purposes such as small office buildings, industrial facilities or retail facilities primarily located in their primary market area and to a much lesser extent multi-family residential properties. The Residential Real Estate Loans segment offers adjustable-rate mortgage loans, with an interest rate based on the one-year Constant Maturity Treasury Bill index. The other significant segments of its loan portfolio are commercial loans, home equity loans and lines of credit and other consumer loans. The company originates loans for investment purposes. The Commercial Loans segment offers term loans, revolving lines of credit and Small Business Administration guaranteed loans. The Home Equity Loans and Lines of Credit segment offers home equity loans and home equity lines of credit, both of which are secured by owner-occupied one to four-family residences. The Consumer Loans segment offers fixed rate loans secured by mobile homes. The company was founded in 2005 and is headquartered in Enfield, CT.