Naugatuck Valley Financial Corporation and Naugatuck Valley Savings and Loan Announce Interim Leadership

Naugatuck Valley Financial Corporation and Naugatuck Valley
Savings and Loan Announce Interim Leadership

NAUGATUCK, Conn., Aug. 31, 2012 (GLOBE NEWSWIRE) -- Naugatuck Valley
Financial Corporation (the "Company") (Nasdaq:NVSL), the holding
company for Naugatuck Valley Savings and Loan (the "Bank" or "Naugatuck
Valley"), announced today the appointment of Sharon A. Blanchette and
Mark " >. Graveline as Co-Interim President and Chief Executive Officer
of both the Company and the Bank effective immediately. Ms. Blanchette
and ""> . Graveline are expected to serve in this capacity until a
permanent President and Chief Executive is appointed. The Bank has
submitted a notice with respect to a candidate for the permanent
position to the Office of the Comptroller of the Currency for its
non-objection. Ms. Blanchette is Senior Vice President and Chief Risk
Officer of the Bank. ""> . Graveline is Senior Vice President and Chief
Lending Officer of the Bank. As members of the Bank's skilled Senior
Management Team, both Ms. Blanchette and ""> . Graveline are involved in
all operational aspects of the Bank and provide strong, knowledgeable

Sharon A. Blanchette has over 20 years of experience in risk
management, including six years in the banking industry. She joined
Naugatuck Valley in November 2011 and her primary responsibilities as
Chief Risk Officer include overseeing Loan Review, Credit
Administration, Appraisal Management, Compliance, Internal Audit,
Security, and Regulatory Relations. She is responsible for ensuring
that Naugatuck Valley Savings and Loan maintains adequate credit,
compliance, financial, and operation risk policies and procedures.
Prior to joining Naugatuck Valley, Ms. Blanchette was a Vice President
of Internal Audit & Control with a community bank in Massachusetts and
an Assistant Director for a bank risk management consulting firm. She
has been responsible for all aspects of bank regulatory compliance and
risk management.

Ms. Blanchette is a Certified Public Accountant, a Certified Internal
Auditor, and a Certified Regulatory Compliance Manager. She received a
B.A. in Economics, cum laude, " click here Mount Holyoke College and a M.B.A.
in Finance from Western New England College. Ms. Blanchette has also
attended the ABA National Compliance School. She is a member of the
Connecticut Society of Certified Public Accountants Financial
Institutions Committee, the Bank Compliance Association of Connecticut,
and the Institute of Internal Auditors. She is a resident of Windsor,

Mark " >. Graveline has more than 33 years of lending and community bank
experience, including seven years at Naugatuck Valley where as Chief
Lending Officer his primary responsibilities are the oversight and
administration of commercial, consumer and residential lending
functions as well as the loan servicing department. ""> . Graveline was
also responsible for the creation of the Secondary Market Group at
Naugatuck Valley. ""> . Graveline graduated from the University of
Connecticut, with a B.S. in Real Estate and Urban Economics, and is a
graduate of the ABA Stonier National Graduate School of Banking. ""> .
Graveline is a Director of the Waterbury Housing Fund and a member of
the Prospect Economic Development Commission. He also volunteers his
time as a Little League Coach in Prospect, CT, where he resides.

Naugatuck Valley Financial Corporation is the holding company for
Naugatuck Valley Savings and Loan. In addition to its main office in
Naugatuck, the Bank operates nine other branch offices in Southwestern
Connecticut. The Bank is a community-oriented financial institution
dedicated to serving the financial services needs of consumers and
businesses within its market area.

The Naugatuck Valley Financial Corporation logo is available at

This press release contains forward-looking statements with the meaning
of Section 21E of the Securities and Exchange Act of 1934, as amended.
These statements are often identified by forward-looking words such as
"expect," "believe," anticipate," or other words with similar meanings.
Forward-looking statements are not statements of fact and a number of
factors could cause actual results to differ materially from expected
results. All forward-looking statements included in this press release
are based upon information available to the Company as of the date of
this press release. Except as may be required by applicable law, the
Company assumes no obligation to update or revise any such
forward-looking statements. For additional discussion of the risks and
uncertainties generally applicable to the Company, see the "Risk
Factors" section of the Company's Form 10-K for the year ended December
31, 2011 and its subsequent Quarterly Reports on Form 10-Q.

CONTACT: Carlos S. Batista
Chairman of the Board
(203) 720-5000

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