The management of Connecticut-based First Suffield Financial Inc. recently formed First Suffield Mortgage Co. to operate as First National Bank of Suffield's passive investment company.

First Suffield Mortgage is exempt from Connecticut income tax under current law and its operation will not impact the bank's customers, according to the bank's annual report.

Meanwhile, Nancy Viggiano retired as president and CEO of the bank in June, and will continue to serve on the board of directors.

In addition, the bank hired David Oliver as senior vice president for retail and small business lending.