Naugatuck Valley Financial Corporation and Naugatuck Valley Savings and Loan Appoint William Calderara President and CEO

Naugatuck Valley Financial Corporation (Nasdaq: NVSL), the holding company for Naugatuck Valley Savings and Loan (the "Bank" or "Naugatuck Valley"), announced today the appointment of William C. Calderara as President and Chief Executive Officer of both the Company and the Bank effective September 28, 2012. The Bank has received the non-objection of the Office of the Comptroller of the Currency (the "OCC") to the immediate appointment of Mr. Calderara, subject to the OCC issuing its formal non-objection to the Bank's formal notice that he serve as the Bank's President and Chief Executive Officer.

Carlos S. Batista, Chairman of the Board of the Company and the Bank, said, "Bill Calderara is a well-respected and experienced community bank executive and we are extremely pleased that he has joined Naugatuck Valley. On behalf of the Board of Directors, management and employees of Naugatuck Valley, I want to express our appreciation to Sharon Blanchette and Mark Graveline for their dedicated service of Co-Interim President and Chief Executive Officer.

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