Naugatuck Valley Financial Corporation (NVSL) operates as a stock savings bank holding company that plans, directs, and coordinates the business activities of its wholly owned subsidiary, Naugatuck Valley Savings and Loan, a federally chartered stock savings association headquartered in Naugatuck, Connecticut, with roots tracing back to its establishment in 1922. The bank functions as a community-oriented financial institution serving consumers and businesses in the Greater Naugatuck Valley region of southwestern Connecticut through multiple banking offices; it provides a range of deposit products and lending solutions, including one-to-four family residential mortgage loans, multi-family and commercial real estate loans, construction loans, commercial business loans, and consumer loans.
In a major strategic development, Naugatuck Valley Savings and Loan merged into Liberty Bank effective January 16, 2016, with Liberty Bank as the successor institution, resulting in NVSL's delisting from Nasdaq and cessation of independent operations, though legacy profiles note the combined entity expanded products and services for former customers. Prior to the merger, the holding company underwent a second-step conversion in 2011 from mutual to stock form, and the bank transitioned regulatory oversight multiple times, including to the Comptroller of the Currency in 2011. The transaction integrated NVSL's approximately $493 million in assets and $381 million in deposits into Liberty Bank's broader network, primarily serving Connecticut markets.