TheStreet, an online financial magazine and news site, has downgraded Valley Financial Corporation from a buy to a hold.
TheStreet said the company has good cash flow and expanding profit margins, but it was responding to a disappointing performance for Naugatuck Valley Financial’s stock and declining net income.
Naugatuck Valley Financial Corporation is the holding company parent for the Naugatuck Valley Savings and Loan bank.
In November 2010, when it was unable to obtain regulatory approval for the merger. At that time, Naugatuck Valley Financial CEO John C. Roman said that Naugatuck Valley Savings and Loan remains a “well capitalized and profitable institution.”
Roman recently announced that he will resign within the next two months. Read a story about his resignation here from the Citizen's News via the Republican-American.