EX 99.1
{FNBL LETTERHEAD}
November 6, 2009
Dear Valued Customer:
I wanted to personally inform you that on Sunday October 25, 2009, The First
National Bank of Litchfield entered into a merger agreement which will result in
The First National Bank of Litchfield being merged into Danbury-based Union
Savings Bank. While this news may come as a surprise, I assure you this "perfect
Union" was designed to preserve a community banking legacy 195 years in the
making. We anticipate that the merger will occur in the first quarter of 2010.
Our proposed merger with Union Savings Bank makes natural sense. Union Savings
is a locally-based mutual bank whose sole focus is their customers, employees
and the communities they serve. Union Savings shares our commitment to our
towns, our spirit to treat customers like family, and the responsibility of a
Connecticut banking legacy that dates back to the 1800s. Your finances will
continue to be locally managed and focused--with key decision makers right in
your backyard.
When The First National Bank of Litchfield becomes part of Union Savings Bank, I
will be among those who will miss seeing the First National name. While our name
may change, our offices as well as our employees who treat you to unparalleled
customer service will remain the same. In addition, you'll then be able to take
advantage of a total of 28 Union Savings offices across the region (this
includes all our existing bank locations). As a well-capitalized bank, Union
Savings will offer additional ATMs and conveniences, excellent products,
expanded credit availability and added financial opportunities. Plus, the high
level of personal service you enjoyed as a First National customer will
continue. Our communities and customers will continue to experience the benefits
of community banking for years to come.
You haven't heard the last from me. In the coming weeks and months, I will
continue to offer progress updates and information to keep you informed. We
anticipate a simple and smooth transition.
Sincerely,
/s/ JOSEPH J. GRECO
Joseph J. Greco
President and Chief Executive Officer
Please see reverse of this letter containing information for shareholders of
First Litchfield Financial Corporation.
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Information for shareholders of First Litchfield Financial Corporation.
Forward-looking Information: Any forward-looking statements regarding the
proposed merger of First Litchfield Financial Corporation, the parent of The
First National Bank of Litchfield, and Union Savings Bank involve uncertainties.
Those uncertainties include, but are not limited to: legislation or changes in
regulatory requirements, shareholder actions, technical or systems issues
affecting dates of consummation or conversion, costs or difficulties related to
the integration, realization of expected synergies from the acquisition, and
general economic conditions that are less favorable than expected. First
Litchfield Financial Corporation does not undertake any obligation to update
forward-looking statements to reflect events or circumstances that occur after
the date on which such statements are made.
This letter does not constitute a solicitation of proxies. First Litchfield
Financial Corporation will file a proxy statement and other relevant documents
concerning the proposed transaction with the Securities and Exchange Commission
("SEC"). Shareholders of First Litchfield Financial Corporation are urged to
read the proxy statement and all other documents which will be filed with the
SEC, and any amendments or supplements to those documents, because they will
contain important information which you should consider before making any
decision regarding the transaction. You will be able to obtain a free copy of
the proxy statement, as well as other filings containing information about First
Litchfield Financial Corporation, at the SEC's website (www.sec.gov), and at
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First Litchfield Financial Corporation's website (www.fnbl.com). Copies of the
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proxy statement may also be obtained without charge, when available, by
directing a request to: First Litchfield Financial Corporation, 13 North Street,
P. O. Box 578, Litchfield, CT 06759.
First Litchfield Financial Corporation and its directors and executive officers
may be deemed to be participants in the solicitation of proxies from the
shareholders of First Litchfield Financial Corporation in connection with the
acquisition. Information about the directors and executive officers of First
Litchfield Financial Corporation and their ownership of First Litchfield
Financial Corporation common stock is set forth in its proxy statement for its
2009 annual meeting of shareholders, dated April 27, 2009, filed with the SEC
which is available at the First Litchfield Financial Corporation and SEC
websites noted above. Additional information regarding the interests of such
participants in the transaction will be contained in the proxy statement when it
becomes available.
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