CBT Prices Public Offering of Common Stock

HARTFORD, Conn., Sept. 23  /PRNewswire-FirstCall/ -- The Connecticut Bank and Trust Company (OTC:CTBC) (BULLETIN BOARD: CTBC)  ("CBT") announced today the pricing of its public offering of 1,435,000 shares of common stock at $9.50 per share. CBT has granted the underwriter the right to purchase up to 215,250 shares of common stock to cover over-allotments at the public offering price.

As a result of the offering, CBT expects to receive net proceeds between approximately $13.0 million and $15.0 million. CBT intends to use the proceeds of this offering to accelerate growth through branch expansion, increase its loan portfolio, maintain its capital position at levels in excess of regulatory requirements, and fund general corporate purposes, including working capital needs.

Keefe, Bruyette & Woods, Inc. acted as the underwriter for the proposed offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these securities is made only by means of a prospectus, copies of which may be obtained by contacting the Equity Syndicate Department of Keefe, Bruyette & Woods, Inc., Tel: [phone]. 

DATASOURCE: The Connecticut Bank and Trust Company



CONTACT: David A. Lentini of The Connecticut Bank and Trust Company, +1-

860-748-4250, 



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