Name: Stephen Reilly
Title: Chair - Connecticut Bankers Assn.
Company: Northwest Community Bank
Location: 86 Main St., Winsted, CT
Birthplace and year: Stamford, CT - 1962
Family: Wife - Meg; Children - Sean, Katie, Brendan
College: UConn - BA in Marketing; completed National School of Banking
First job outside of banking: Retail, sporting goods sales
First job in banking or allied field: Teller at Union Trust Bank
What do you do now and what are you planning for the future? Advance industry issues i.e. - lessen the regulatory burden in CT. There are many regulations affecting the banks, which they had nothing to do with. Banks also had nothing to do with the financial crisis. There is a place for regulation but we are at the other end of the spectrum. This also takes dollars away from the community. Dealing with debit card fraud is another issue. We are responsible for making our customers whole if they are victimized. Retailers have no financial incentive here in terms of protecting consumer information.
Hobbies: Time with family, exercise and work out, golf, sports
Favorite book: "The River of Debt" (on Teddy Roosevelt)
Favorite movie: "It's a Wonderful Life"
Person you most emulate (outside of family): John Ursone
Key to success (one idea): Hard work with effective communication
If you were forced to choose another vocation what would it be? Major league baseball manager
Boca Raton, FL C-Lounge Capital provides $18m equity investment for $40m acquisition of Fountains of Boca Raton by Interface Properties. C-Lounge Capital is a relationship-driven family office investment platform backed by more than 50 years of commercial real estate experience.
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property