The Day – Friends & Neighbors: Stonington resident named to 40 under 40 list


Richard Balestracci of Stonington, Vice President and Head of Commercial Lending at Chelsea Groton Bank, was named to Independent Banker’s magazine’s annual 40 Under 40 list in the Emerging Community Bank Leaders category. According to a statement, the award “recognizes emerging innovators and influencers from community banks across the country who represent the future of the industry.”

Selected from hundreds of nominations, applicants were judged on the following criteria: character, leadership, community engagement and innovation.

“I am honored to be in the company of such a distinguished group and to represent Chelsea Groton Bank on the 40 Under 40 list: Emerging Community Banking Leaders of ICBA Independent Banker,” Balestracci said in a statement. .

Balestracci was instrumental during the pandemic by working together to secure the provision of PPP loans to hundreds of local business owners. Balestracci is also Treasurer of the Stonington Community Center, a member of the Stonington Economic Development Commission and a member of the Loans Committee for the Southeast Connecticut Corporate Region.

He received a BA in Economics from the University of Connecticut in 2007 and an MBA for Emerging Leaders from the University of New Haven. He completed the Eastern Connecticut Chamber of Commerce leadership program and recently graduated from the American Bankers Association’s Stonier Graduate School of Banking at the University of Pennsylvania.

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