Exhibit 3.1



RESTATED CERTIFICATE OF INCORPORATION

OF

NEWALLIANCE BANCSHARES, INC.



NewAlliance Bancshares, Inc., a corporation organized and existing under the laws of the State of Delaware, hereby certifies
as follows:



| | 1. | The Name of the corporation is NewAlliance Bancshares, Inc. The date of filing of its original Certificate of Incorporation with the Secretary of the State was September 22, 2003.
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| | 2. | The Restated Certificate of Incorporation restates and integrates and amends the Certificate of Incorporation of this corporation by amending:
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(a) Section A of Article FOURTH is amended in the following manner:



A. The total number of shares of all
classes of stock which the Corporation shall have authority to issue is two hundred twenty-eight million (228,000,000) consisting of:



| | 1. | thirty-eight million (38,000,000) shares of Preferred Stock, par value one cent ($.01) per share (the Preferred Stock): and
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| | 2. | one hundred ninety million (190,000,000) shares of Common Stock, par value one cent ($.01) per share (the Common Stock).
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(b) Section G of Article ELEVENTH is amended to add the following language
to the end of the paragraph:



including but not limited to the limitations on indemnification imposed by Section 18(k) of the Federal Deposit Insurance Act and the regulation issued thereunder by the Federal Deposit Insurance Corporation.





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| | 3. | The text of the Certificate of Incorporation as amended and restated is hereby set forth in full:
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FIRST: The name of the Corporation is NewAlliance Bancshares, Inc. (hereinafter sometimes referred to as the
Corporation).



SECOND: The address of
the registered office of the Corporation in the State of Delaware is Corporation Trust Center, 1209 Orange Street, in the City of Wilmington, County of New Castle. The name of the registered agent at that address is The Corporation Trust Company.



THIRD: The purpose of the Corporation is to
engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of the State of Delaware.



FOURTH:



A. The total number of shares of all classes of stock which the Corporation shall have authority to issue is two hundred twenty-eight
million (228,000,000) consisting of:



| | 1. | thirty-eight million (38,000,000) shares of Preferred Stock, par value one cent ($.01) per share (the Preferred Stock): and
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| | 2. | one hundred ninety million (190,000,000) shares of Common Stock, par value one cent ($.01) per share (the Common Stock).
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B. The Board of Directors is authorized, subject to any
limitations prescribed by law, to provide for the issuance of the shares of Preferred Stock in series, and by filing a certificate pursuant to the applicable law of the State of Delaware (such certificate being hereinafter referred to as a
Preferred Stock Designation), to establish from time to time the number of shares to be included in each such series, and to fix the designation, powers, preferences, and rights of the shares of each such series and any qualifications,
limitations or restrictions thereof. The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the Common
Stock, without a vote of the holders of the Preferred Stock, or of any series thereof, unless a vote of any such holders is required pursuant to the terms of any Preferred Stock Designation.



| | C.        1. | Upon the effective date of the reorganization of The New Haven Savings Bank as a subsidiary of the Corporation and for a period of five (5) years thereafter, no
person shall directly or indirectly offer to acquire or acquire the beneficial ownership of (i) more than 10% of the issued and outstanding shares of Common Stock, or (ii) any securities convertible into, or exercisable for, Common Stock if,
assuming conversion or exercise by such person of all securities of
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| | which such person is the beneficial owner which are convertible into, or exercisable for, Common Stock (but of no securities convertible into, or exercisable
for, Common Stock of which such person is not the beneficial owner), such person would be the beneficial owner of more than ten percent (10.0%) of the then-outstanding shares of Common Stock (the 10% Limit). The foregoing restrictions
shall not apply to (i) any offer with a view toward public resale made exclusively to the Corporation by underwriters or a selling group acting on its behalf, (ii) any tax-qualified employee benefit plan or arrangement established by the Corporation
and any trustee of such a plan or arrangement, and (iii) any other offer or acquisition approved in advance by the affirmative vote of two-thirds of the Whole Board (as hereinafter defined).
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| | 2. | Notwithstanding any other provision of this Certificate of Incorporation, in no event shall any record owner of any outstanding Common Stock which is beneficially owned, directly or
indirectly, by a person who, as of any record date for the determination of stockholders entitled to vote on any matter, beneficially owns in excess of the 10% Limit in contravention of the provisions of Subparagraph C.1 of this Article FOURTH, be
entitled to any vote or be permitted to vote in respect of the shares held in excess of the 10% Limit. The number of votes which may be cast by any record owner by virtue of the provisions hereof in respect of Common Stock beneficially owned by such
person beneficially owning shares in excess of the 10% Limit shall be a number equal to the total number of votes which a single record owner of all Common Stock beneficially owned by such person would be entitled to cast, (subject to the provisions
of this Article FOURTH) multiplied by a fraction, the numerator of which is the number of shares of such class or series which are both beneficially owned by such person and owned of record by such record owner and the denominator of which is the
total number of shares of Common Stock beneficially owned by such person owning shares in excess of the 10% Limit. In the event that shares are acquired in violation of this Section C of Article FOURTH, the Corporation is authorized to refuse to
recognize a transfer or attempted transfer of any shares of Common Stock to any person who is the beneficial owner, or as the result of such transfer would become the beneficial owner, of shares in excess of the 10% Limit, and (ii) the Board of
Directors may cause such shares in excess of the 10% Limit to be transferred to an independent trustee for sale on the open market or otherwise, with the expenses of such trustee to be paid out of the proceeds of the sale.
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| | 3. | The following definitions shall apply to this Section C of Article FOURTH:
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| | a. | Acquire shall include every type of acquisition, whether effected by purchase, exchange, operation of law, or otherwise.
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| | b. | Affiliate shall have the meaning ascribed to it in Rule 12b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934,as amended, as in
effect on the date of filing of this Certificate of Incorporation.
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| | c. | Beneficial ownership shall be determined pursuant to Rule 13d-3 of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended, (or any
successor rule or statutory provision), or, if said Rule 13d-3 shall be rescinded and there shall be no successor rule or provision thereto, pursuant to said Rule 13d-3 as in effect on the date of filing of this Certificate of Incorporation;
provided, however, that a person shall, in any event, also be deemed the beneficial owner of any Common Stock:
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| | (1) | which such person or any of its Affiliates beneficially owns, directly or indirectly; or
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| | (2) | which such person or any of its Affiliates has: (i) the right to acquire (whether such right is exercisable immediately or only after the passage of time), pursuant to any
agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, warrants, or options or otherwise, or (ii) sole or shared voting or investment power with respect thereto pursuant to any agreement, arrangement,
understanding, relationship or otherwise (but shall not be deemed to be the beneficial owner of any voting shares solely by reason of a revocable proxy granted for a particular meeting of stockholders, pursuant to a public solicitation of proxies
for such meeting, with respect to shares of which neither such person nor any such Affiliate is otherwise deemed the beneficial owner); or
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| | (3) | which are beneficially owned, directly or indirectly, by any other person with which such first mentioned person or any of its Affiliates acts as a
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| | partnership, limited partnership, syndicate or other group pursuant to any agreement, arrangement or understanding for the purpose of acquiring, holding,
voting or disposing of any shares of capital stock of this Corporation; and provided further, however, that: (1) no Director or Officer of this Corporation (or any Affiliate of any such Director or Officer) shall, solely by reason of any or all of
such Directors or Officers acting in their capacities as such, be deemed, for any purposes hereof, to beneficially own any Common Stock beneficially owned by any other such Director or Officer (or any Affiliate thereof); and (2) neither any employee
stock ownership or similar plan of this Corporation or any subsidiary of this Corporation, nor any trustee with respect thereto or any Affiliate of such trustee (solely by reason of such capacity of such trustee), shall be deemed, for any purposes
hereof, to beneficially own any Common Stock held under any such plan. For purposes only of computing the percentage of beneficial ownership of Common Stock of a person, the outstanding Common Stock shall include shares deemed owned by such person
through application of this subsection but shall not include any other Common Stock which may be issuable by this Corporation pursuant to any agreement, or upon exercise of conversion rights, warrants or options, or otherwise. For all other
purposes, the outstanding Common Stock shall include only Common Stock then outstanding and shall not include any Common Stock which may be issuable by this Corporation pursuant to any agreement, or upon the exercise of conversion rights, warrants
or options, or otherwise.
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| | d. | The 10% Limit shall have the meaning set forth in Subparagraph C.1 of this Article FOURTH.
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| | e. | Offer shall mean every offer to buy or otherwise acquire, solicitation of an offer to sell, tender offer for, or request or invitation for tender of, a
security or interest in a security for value; provided that the term offer shall not include (i) inquiries directed solely to the management of the Corporation and not intended to be communicated to stockholders which are designed to
elicit an indication of managements receptivity to the basic structure of a
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| | potential acquisition with respect to the amount of cash or securities, manner of acquisition and formula for determining price, or (ii) non-binding
expressions of understanding or letters of intent with the management of the Corporation regarding the basic structure of a potential acquisition with respect to the amount of cash or securities, manner of acquisition and formula for determining
price.
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| | f. | A person shall include an individual, a firm, a group acting in concert, a corporation, a partnership, an association, a joint venture, a pool, a joint stock company, a
trust, an unincorporated organization or similar company, a syndicate or any other group formed for the purpose of acquiring, holding or disposing of securities or any other entity.
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| | 4. | The Board of Directors shall have the power to construe and apply the provisions of this Section C of Article FOURTH and to make all determinations necessary or desirable to
implement such provisions, including but not limited to matters with respect to: (i) the number of shares of Common Stock beneficially owned by any person; (ii) whether a person is an Affiliate of another; (iii) whether a person has an agreement,
arrangement, or understanding with another as to the matters referred to in the definition of beneficial ownership; (iv) the application of any other definition or operative provision of this Section C of Article FOURTH to the given facts; or (v)
any other matter relating to the applicability or effect of this Section C of Article FOURTH.
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| | 5. | The Board of Directors shall have the right to demand that any person who is reasonably believed to beneficially own Common Stock in excess of the 10% Limit (or holds of record
Common Stock beneficially owned by any person in excess of the 10% Limit) supply the Corporation with complete information as to: (i) the record owner(s) of all shares beneficially owned by such person who is reasonably believed to own shares in
excess of the 10% Limit; and (ii) any other factual matter relating to the applicability or effect of this Section C of Article FOURTH as may reasonably be requested of such person.
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| | 6. | Except as otherwise provided by law or expressly provided in this Section C of Article FOURTH, the presence, in person or by proxy, of the holders of record of
shares of capital stock of the Corporation entitling the holders thereof to cast a majority of the votes (after giving effect, if required, to the provisions of this Section C of Article FOURTH) entitled to be cast by the holders of
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| | shares of capital stock of the Corporation entitled to vote shall constitute a quorum at all meetings of the stockholders, and every reference in this
Certificate of Incorporation to a majority or other proportion of capital stock (or the holders thereof) for purposes of determining any quorum requirement or any requirement for stockholder consent or approval shall be deemed to refer to such
majority or other proportion of the votes (or the holders thereof) then entitled to be cast in respect of such capital stock, after giving effect to this Section C of Article FOURTH.
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| | 7. | Any constructions, applications, or determinations made by the Board of Directors pursuant to this Section C of Article FOURTH in good faith and on the basis of such information and
assistance as was then reasonably available for such purpose shall be conclusive and binding upon the Corporation and its stockholders.
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| | 8. | In the event any provision (or portion thereof) of this Section C of Article FOURTH shall be found to be invalid, prohibited or unenforceable for any reason, the remaining
provisions (or portions thereof) of this Section C of Article FOURTH shall remain in full force and effect, and shall be construed as if such invalid, prohibited or unenforceable provision had been stricken herefrom or otherwise rendered
inapplicable, it being the intent of this Corporation and its stockholders that each such remaining provision (or portion thereof) of this Section C of Article FOURTH remain, to the fullest extent permitted by law, applicable and enforceable as to
all stockholders, including stockholders owning an amount of stock in excess of the 10% Limit, notwithstanding any such finding.
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FIFTH: The following provisions are inserted for the management of the business and the conduct of the affairs of the Corporation, and for
further definition, limitation and regulation of the powers of the Corporation and of its Directors and stockholders:



A. The business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors. In addition to the
powers and authority expressly conferred upon them by statute or by this Certificate of Incorporation or the Bylaws of the Corporation, the Directors are hereby empowered to exercise all such powers and do all such acts and things as may be
exercised or done by the Corporation.



B. The
Directors of the Corporation need not be elected by written ballot unless the Bylaws so provide. Shareholders shall not be permitted to cumulate their votes for the election of Directors.



C. Any action required or permitted to be taken by the
stockholders of the Corporation must be effected at a duly called annual or special meeting of stockholders of





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the Corporation and may not be effected by any consent in writing by such stockholders.



D. Special meetings of stockholders of the Corporation may be called only by the Board of Directors pursuant
to a resolution adopted by a majority of the Whole Board or as otherwise provided in the Bylaws. The term Whole Board shall mean the total number of authorized directorships (whether or not there exist any vacancies in previously
authorized directorships at the time any such resolution is presented to the Board for adoption).



SIXTH:



A. The number of Directors shall be fixed from time to time exclusively by the Board of Directors pursuant to a resolution adopted by a
majority of the Whole Board. The Directors shall be divided into three classes, as nearly equal in number as reasonably possible, with the term of office of the first class to expire at the first annual meeting of stockholders, the term of office of
the second class to expire at the annual meeting of stockholders one year thereafter and the term of office of the third class to expire at the annual meeting of stockholders two years thereafter, with each Director to hold office until his or her
successor shall have been duly elected and qualified. At each annual meeting of stockholders following such initial classification and election, Directors elected to succeed those Directors whose terms expire shall be elected for a term of office to
expire at the third succeeding annual meeting of stockholders after their election, with each Director to hold office until his or her successor shall have been duly elected and qualified.



B. Subject to the rights of holders of any series of
Preferred Stock outstanding, the newly created directorships resulting from any increase in the authorized number of Directors or any vacancies in the Board of Directors resulting from death, resignation, retirement, disqualification, removal from
office or other cause may be filled only by a majority vote of the Directors then in office, though less than a quorum, and Directors so chosen shall hold office for a term expiring at the annual meeting of stockholders at which the term of office
of the class to which they have been chosen expires. No decrease in the number of Directors constituting the Board of Directors shall shorten the term of any incumbent Director.



C. Advance notice of stockholder nominations for the election of Directors and of business to be brought by
stockholders before any meeting of the stockholders of the Corporation shall be given in the manner provided in the Bylaws of the Corporation.



D. Subject to the rights of holders of any series of Preferred Stock then outstanding, any Director, or the entire Board of Directors, may
be removed from office at any time, but only for cause and only by the affirmative vote of the holders of at least eighty percent (80.0%) of the voting power of all of the then-outstanding shares of capital stock of the Corporation entitled to vote
generally in the election of Directors (the Voting Stock) (after giving effect to the provisions of Article FOURTH of this Certificate of Incorporation (Article FOURTH)), voting together as a single class.





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SEVENTH: The Board of Directors is expressly empowered to adopt, amend or repeal the Bylaws
of the Corporation. Any adoption, amendment or repeal of the Bylaws of the Corporation by the Board of Directors shall require the approval of a majority of the Whole Board. The stockholders shall also have power to adopt, amend or repeal the Bylaws
of the Corporation; provided, however, that, in addition to any vote of the holders of any class or series of stock of this Corporation required by law or by this Certificate of Incorporation, the affirmative vote of the holders of at least eighty
percent (80.0%) of the then-outstanding shares of Voting Stock (after giving effect to the provisions of Article FOURTH hereof), voting together as a single class, shall be required to adopt, amend or repeal any provisions of the Bylaws of the
Corporation.



EIGHTH:



A. In addition to any affirmative vote required by law or
this Certificate of Incorporation, and except as otherwise expressly provided in this Article EIGHTH:



| | 1. | any merger or consolidation of the Corporation or any Subsidiary (as hereinafter defined) with: (i) any Interested Stockholder (as hereinafter defined); or (ii) any other
corporation (whether or not itself an Interested Stockholder) which is, or after such merger or consolidation would be, an Affiliate (as hereinafter defined) of an Interested Stockholder; or
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| | 2. | any sale, lease, exchange, mortgage, pledge, transfer or other disposition (in one transaction or a series of transactions) to or with any Interested Stockholder, or any Affiliate
of any Interested Stockholder, of any assets of the Corporation or any Subsidiary having an aggregate Fair Market Value (as hereinafter defined) equaling or exceeding twenty-five percent (25.0%) or more of the combined assets of the Corporation and
its Subsidiaries; or
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| | 3. | the issuance or transfer by the Corporation or any Subsidiary (in one transaction or a series of transactions) of any securities of the Corporation or any Subsidiary to any
Interested Stockholder or any Affiliate of any Interested Stockholder in exchange for cash, securities or other property (or a combination thereof) having an aggregate Fair Market Value (as hereinafter defined) equaling or exceeding twenty-five
(25.0%) of the combined Fair Market Value of the outstanding common stock of the Corporation and its Subsidiaries, except for any issuance or transfer pursuant to an employee benefit plan of the Corporation or any Subsidiary thereof; or
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| | 4. | the adoption of any plan or proposal for the liquidation or dissolution of the Corporation proposed by or on behalf of an Interested Stockholder or any Affiliate of any Interested
Stockholder; or
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| | 5. | any reclassification of securities (including any reverse stock split), or recapitalization of the Corporation, or any merger or consolidation of the Corporation with any of
its Subsidiaries or any other transaction (whether or not with or into or otherwise involving an Interested Stockholder) which has the effect, directly or indirectly, of increasing the proportionate share of the outstanding shares of any class of
equity or convertible securities of the Corporation or any Subsidiary which is directly or indirectly owned by any Interested Stockholder or any Affiliate of any Interested Stockholder;
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shall require the affirmative vote of the holders of at least eighty percent (80.0%) of the
voting power of the then-outstanding shares of Voting Stock (after giving effect to the provisions of Article FOURTH hereof), voting together as a single class. Such affirmative vote shall be required notwithstanding the fact that no vote may be
required, or that a lesser percentage may be specified, by law or by any other provisions of this Certificate of Incorporation or any Preferred Stock Designation in any agreement with any national securities exchange or otherwise.



The term Business Combination as used in this
Article EIGHTH shall mean any transaction which is referred to in any one or more of paragraphs 1 through 5 of Section A of this Article EIGHTH.



B. The provisions of Section A of this Article EIGHTH shall not be applicable to any particular Business Combination, and such Business
Combination shall require only the affirmative vote of the majority of the outstanding shares of capital stock entitled to vote after giving effect to the provisions of Article FOURTH, or such vote (if any), as is required by law or by this
Certificate of Incorporation, if, in the case of any Business Combination that does not involve any cash or other consideration being received by the stockholders of the Corporation solely in their capacity as stockholders of the Corporation, the
condition specified in the following paragraph 1 is met or, in the case of any other Business Combination, all of the conditions specified in either of the following paragraphs 1 or 2 are met;



| | 1. | The Business Combination shall have been approved by two-thirds (2/3) of the Disinterested Directors (as hereinafter defined).
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| | 2. | All of the following conditions shall have been met:
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| | a. | The aggregate amount of the cash and the Fair Market Value as of the date of the consummation of the Business Combination of consideration other than cash to be
received per share by the holders of Common Stock in such
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| | Business Combination shall at least be equal to the higher of the following:
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| | (1) | (if applicable) the Highest Per Share Price (as hereinafter defined), including any brokerage commissions, transfer taxes and soliciting dealers fees, paid by the Interested
Stockholder or any of its Affiliates for any shares of Common Stock acquired by it: (i) within the two-year period immediately prior to the first public announcement of the proposal of the Business Combination (the Announcement Date); or
(ii) in the transaction in which it became an Interested Stockholder, whichever is higher; or
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| | (2) | the Fair Market Value per share of Common Stock on the Announcement Date or on the date on which the Interested Stockholder became an Interested Stockholder (such latter date is
referred to in this Article EIGHTH as the Determination Date), whichever is higher.
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| | b. | The aggregate amount of the cash and the Fair Market Value as of the date of the consummation of the Business Combination of consideration other than cash to be received per share
by holders of shares of any class of outstanding Voting Stock other than Common Stock shall be at least equal to the highest of the following (it being intended that the requirements of this Subparagraph (b) shall be required to be met with respect
to every such class of outstanding Voting Stock, whether or not the Interested Stockholder has previously acquired any shares of a particular class of Voting Stock):
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| | (1) | (if applicable) the Highest Per Share Price (as hereinafter defined), including any brokerage commissions, transfer taxes and soliciting dealers fees, paid by the Interested
Stockholder for any shares of such class of Voting Stock acquired by it: (i) within the two-year period immediately prior to the Announcement Date; or (ii) in the transaction in which it became an Interested Stockholder, whichever is higher; or
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| | (2) | (if applicable) the highest preferential amount per share to which the holders of shares of such class of
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| | Voting Stock are entitled in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation; or
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| | (3) | the Fair Market Value per share of such class of Voting Stock on the Announcement Date or on the Determination Date, whichever is higher.
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| | c. | The consideration to be received by holders of a particular class of outstanding Voting Stock (including Common Stock) shall be in cash or in the same form as the Interested
Stockholder has previously paid for shares of such class of Voting Stock. If the Interested Stockholder has paid for shares of any class of Voting Stock with varying forms of consideration, the form of consideration to be received per share by
holders of shares of such class of Voting Stock shall be either cash or the form used to acquire the largest number of shares of such class of Voting Stock previously acquired by the Interested Stockholder. The price determined in accordance with
Subparagraph B.2 of this Article EIGHTH shall be subject to appropriate adjustment in the event of any stock dividend, stock split, combination of shares or similar event.
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| | d. | After such Interested Stockholder has become an Interested Stockholder and prior to the consummation of such Business Combination: (1) except as approved by a majority of the
Disinterested Directors (as hereinafter defined), there shall have been no failure to declare and pay at the regular date therefor any full quarterly dividends (whether or not cumulative) on any outstanding stock having preference over the Common
Stock as to dividends or liquidation; (2) there shall have been: (i) no reduction in the annual rate of dividends paid on the Common Stock (except as necessary to reflect any subdivision of the Common Stock), except as approved by a majority of the
Disinterested Directors; and (ii) an increase in such annual rate of dividends as necessary to reflect any reclassification (including any reverse stock split), recapitalization, reorganization or any similar transaction which has the effect of
reducing the number of outstanding shares of the Common Stock, unless the failure to so increase such annual rate is approved by a majority of the Disinterested Directors; and (3) neither such Interested Stockholder or any of its Affiliates shall
have become the beneficial owner of any additional shares of Voting Stock except as part of the transaction which results in such Interested Stockholder becoming an Interested Stockholder.
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| | e. | After such Interested Stockholder has become an Interested Stockholder, such Interested Stockholder shall not have received the benefit, directly or indirectly (except
proportionately as a stockholder), of any loans, advances, guarantees, pledges or other financial assistance or any tax credits or other tax advantages provided, directly or indirectly, by the Corporation, whether in anticipation of or in connection
with such Business Combination or otherwise.
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| | f. | A proxy or information statement describing the proposed Business Combination and complying with the requirements of the Securities Exchange Act of 1934, as amended, and the rules
and regulations thereunder (or any subsequent provisions replacing such Act, and the rules or regulations thereunder) shall be mailed to stockholders of the Corporation at least thirty (30) days prior to the consummation of such Business Combination
(whether or not such proxy or information statement is required to be mailed pursuant to such Act or subsequent provisions).
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C. For the purposes of this Article EIGHTH:



| | 1. | A Person shall include an individual, a firm, a group acting in concert, a corporation, a partnership, an association, a joint venture, a pool, a joint stock company, a
trust, an unincorporated organization or similar company, a syndicate or any other group formed for the purpose of acquiring, holding or disposing of securities or any other entity.
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| | 2. | Interested Stockholder shall mean any person (other than the Corporation or any Holding Company or Subsidiary thereof) who or which:
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| | a. | is the beneficial owner, directly or indirectly, of more than ten percent (10.0%) of the voting power of the outstanding Voting Stock; or
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| | b. | is an Affiliate of the Corporation and at any time within the two-year period immediately prior to the date in question was the beneficial owner, directly or indirectly, of ten
percent (10.0%) or more of the voting power of the then outstanding Voting Stock; or
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| | c. | is an assignee of or has otherwise succeeded to any shares
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| | of Voting Stock which were at any time within the two-year period immediately prior to the date in question beneficially owned by any Interested Stockholder,
if such assignment or succession shall have occurred in the course of a transaction or series of transactions not involving a public offering within the meaning of the Securities Act of 1933, as amended.
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| | 3. | For purposes of this Article EIGHTH, beneficial ownership shall be determined in the manner provided in Section C of Article FOURTH hereof.
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| | 4. | Affiliate and Associate shall have the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Securities
Exchange Act of 1934, as in effect on the date of filing of this Certificate of Incorporation.
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| | 5. | Subsidiary means any corporation of which a majority of any class of equity security is owned, directly or indirectly, by the Corporation; provided, however, that
for the purposes of the definition of Interested Stockholder set forth in Paragraph 2 of this Section C of Article EIGHTH, the term Subsidiary shall mean only a corporation of which a majority of each class of equity security is owned,
directly or indirectly, by the Corporation.
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| | 6. | Disinterested Director means any member of the Board of Directors who is unaffiliated with the Interested Stockholder and was a member of the Board of Directors prior to
the time that the Interested Stockholder became an Interested Stockholder, and any Director who is thereafter chosen to fill any vacancy of the Board of Directors or who is elected and who, in either event, is unaffiliated with the Interested
Stockholder and in connection with his or her initial assumption of office is recommended for appointment or election by a majority of Disinterested Directors then on the Board of Directors.
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| | 7. | Fair Market Value means;
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| | a. | in the case of stock, the highest closing sales price of the stock during the 30-day period immediately preceding the date in question of a share of such stock on
the National Association of Securities Dealers Automated Quotation System or any system then in use, or, if such stock is admitted to trading on a principal United States securities exchange registered under the Securities Exchange Act of 1934, as
amended, Fair Market Value shall be the highest
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| | sale price reported during the 30-day period preceding the date in question, or, if no such quotations are available, the Fair Market Value on the date in
question of a share of such stock as determined by the Board of Directors in good faith, in each case with respect to any class of stock, appropriately adjusted for any dividend or distribution in shares of such stock or any stock split or
reclassification of outstanding shares of such stock into a greater number of shares of such stock or any combination or reclassification of outstanding shares of such stock into a smaller number of shares of such stock; and
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| | b. | in the case of property other than cash or stock, the fair market value of such property on the date in question as determined by the Board of Directors in good faith.
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| | 8. | Reference to Highest Per Share Price shall in each case with respect to any class of stock reflect an appropriate adjustment for any dividend or distribution in shares
of such stock or any stock split or reclassification of outstanding shares of such stock into a greater number of shares of such stock or any combination or reclassification of outstanding shares of such stock into a smaller number of shares of such
stock.
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| | 9. | In the event of any Business Combination in which the Corporation survives, the phrase consideration other than cash to be received as used in Subparagraphs (a)
and (b) of Paragraph 2 of Section B of this Article EIGHTH shall include the shares of Common Stock and/or the shares of any other class of outstanding Voting Stock retained by the holders of such shares.
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D. A majority of the Disinterested Directors of the
Corporation shall have the power and duty to determine for the purposes of this Article EIGHTH, on the basis of information known to them after reasonable inquiry: (a) whether a person is an Interested Stockholder; (b) the number of shares of Voting
Stock beneficially owned by any person; (c) whether a person is an Affiliate or Associate of another; and (d) whether the assets which are the subject of any Business Combination have, or the consideration to be received for the issuance or transfer
of securities by the Corporation or any Subsidiary in any Business Combination has an aggregate Fair Market Value equaling or exceeding twenty-five percent (25.0%) of the combined Fair Market Value of the Common Stock of the Corporation and its
Subsidiaries. A majority of the Disinterested Directors shall have the further power to interpret all of the terms and provisions of this Article EIGHTH.



E. Nothing contained in this Article EIGHTH shall be construed to relieve any Interested Stockholder from any fiduciary obligation imposed
by law.





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F. Notwithstanding any other provisions of this Certificate of Incorporation or any
provision of law which might otherwise permit a lesser vote or no vote, but in addition to any affirmative vote of the holders of any particular class or series of the Voting Stock required by law, this Certificate of Incorporation or any Preferred
Stock Designation, the affirmative vote of the holders of at least eighty percent (80.0%) of the voting power of all of the then-outstanding shares of the Voting Stock (after giving effect to the provisions of Article FOURTH), voting together as a
single class, shall be required to alter, amend or repeal this Article EIGHTH.



NINTH: Except as set forth in the following sentence, any action required or permitted to be taken by the stockholders of the Corporation pursuant to Subchapter IX (Merger, Consolidation or Conversion)
and Subchapter X (Sale of Assets, Dissolution and Winding Up) of the Delaware General Corporation Law, or any successors thereto, shall be taken upon the affirmative vote of the holders of at least eighty percent (80.0%) of the voting power of all
of the then-outstanding shares of Voting Stock (after giving effect to the provisions of Article FOURTH), voting together as a single class. Notwithstanding the preceding sentence, if any such action is recommended by at least two-thirds (2/3) of
the Whole Board, the eighty percent (80.0%) stockholder vote set forth in the preceding sentence will not be applicable, and, in such event, the action will require only such affirmative vote as is required by law.



TENTH: The Board of Directors of the Corporation, when
evaluating any offer of another Person (as defined in Article EIGHTH hereof) to: (A) make a tender or exchange offer for any equity security of the Corporation; (B) merge or consolidate the Corporation with another corporation or entity; or (C)
purchase or otherwise acquire all or substantially all of the properties and assets of the Corporation, may, in connection with the exercise of its judgment in determining what is in the best interest of the Corporation and its stockholders, give
due consideration to all relevant factors, including, without limitation, those factors that Directors of any subsidiary of the Corporation may consider in evaluating any action that may result in a change or potential change in the control of such
subsidiary, the financial and managerial resources and future prospects of the other party, and the social and economic effect of acceptance of such offer: on the Corporations present and future customers, employees, suppliers and creditors
and those of its Subsidiaries (as defined in Article EIGHTH hereof); on the communities in which the Corporation and its Subsidiaries operate or are located; on the ability of the Corporation to fulfill its corporate objective as a bank holding
company under applicable laws and regulations; and on the ability of its subsidiary savings bank(s) to fulfill its or their corporate objectives under applicable statutes and regulations.



ELEVENTH:



A. Each person who was or is made a party or is threatened to be made a party to or is otherwise involved in any action, suit or
proceeding, whether civil, criminal, administrative or investigative (hereinafter a proceeding), by reason of the fact that he or she is or was a Director or an Officer of the Corporation or is or was serving at the request of the
Corporation as a Director, Officer, employee or agent of another corporation or of a partnership, joint venture, trust or other enterprise, including service





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with respect to an employee benefit plan (hereinafter an indemnitee), whether the basis of such proceeding is alleged action in an official
capacity as a Director, Officer, employee or agent or in any other capacity while serving as a Director, Officer, employee or agent, shall be indemnified and held harmless by the Corporation to the fullest extent authorized by the Delaware General
Corporation Law, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than such law permitted the Corporation
to provide prior to such amendment), against all expense, liability and loss (including attorneys fees, judgments, fines, ERISA excise taxes or penalties and amounts paid in settlement) reasonably incurred or suffered by such indemnitee in
connection therewith; provided, however, that, except as provided in Section C of this Article ELEVENTH with respect to proceedings to enforce rights to indemnification, the Corporation shall indemnify any such indemnitee in connection with a
proceeding (or part thereof) initiated by such indemnitee only if such proceeding (or part thereof) was authorized by the Board of Directors of the Corporation.



B. The right to indemnification conferred in Section A of this Article ELEVENTH shall include the right to
be paid by the Corporation the expenses incurred in defending any such proceeding in advance of its final disposition (hereinafter an advancement of expenses); provided, however, that, if the Delaware General Corporation Law requires, an
advancement of expenses incurred by an indemnitee in his or her capacity as a Director or Officer (and not in any other capacity in which service was or is rendered by such indemnitee, including, without limitation, services to an employee benefit
plan) shall be made only upon delivery to the Corporation of an undertaking (hereinafter an undertaking), by or on behalf of such indemnitee, to repay all amounts so advanced if it shall ultimately be determined by final judicial
decision from which there is no further right to appeal (hereinafter a final adjudication) that such indemnitee is not entitled to be indemnified for such expenses under Section B of this Article ELEVENTH or otherwise. The rights to
indemnification and to the advancement of expenses conferred in Sections A and B of this Article ELEVENTH shall be contract rights and such rights shall continue as to an indemnitee who has ceased to be a Director, Officer, employee or agent and
shall inure to the benefit of the indemnitees heirs, executors and administrators.



C. If a claim under Section A or B of this Article ELEVENTH is not paid in full by the Corporation within sixty (60) days after a written
claim has been received by the Corporation, except in the case of a claim for an advancement of expenses, in which case the applicable period shall be twenty (20) days, the indemnitee may at any time thereafter bring suit against the Corporation to
recover the unpaid amount of the claim. If successful in whole or in part in any such suit, or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall be entitled to be
paid also the expenses of prosecuting or defending such suit. In (i) any suit brought by the indemnitee to enforce a right to indemnification hereunder (but not in a suit brought by the indemnitee to enforce a right to an advancement of expenses) it
shall be a defense that, and (ii) in any suit by the Corporation to recover an advancement of expenses pursuant to the terms of an





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undertaking the Corporation shall be entitled to recover such expenses upon a final adjudication that, the indemnitee has not met any applicable standard for
indemnification set forth in the Delaware General Corporation Law. Neither the failure of the Corporation (including its Board of Directors, independent legal counsel, or its stockholders) to have made a determination prior to the commencement of
such suit that indemnification of the indemnitee is proper in the circumstances because the indemnitee has met the applicable standard of conduct set forth in the Delaware General Corporation Law, nor an actual determination by the Corporation
(including its Board of Directors, independent legal counsel, or its stockholders) that the indemnitee has not met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard of conduct or,
in the case of such a suit brought by the indemnitee, be a defense to such suit. In any suit brought by the indemnitee to enforce a right to indemnification or to an advancement of expenses hereunder, or by the Corporation to recover an advancement
of expenses pursuant to the terms of an undertaking, the burden of proving that the indemnitee is not entitled to be indemnified, or to such advancement of expenses, under this Article ELEVENTH or otherwise, shall be on the Corporation.



D. The rights to indemnification and to the advancement
of expenses conferred in this Article ELEVENTH shall not be exclusive of any other right which any person may have or hereafter acquire under any statute, the Corporations Certificate of Incorporation, Bylaws, agreement, vote of stockholders
or Disinterested Directors or otherwise.



E.
The Corporation may maintain insurance, at its expense, to protect itself and any Director, Officer, employee or agent of the Corporation or subsidiary or Affiliate or another corporation, partnership, joint venture, trust or other enterprise
against any expense, liability or loss, whether or not the Corporation would have the power to indemnify such person against such expense, liability or loss under the Delaware General Corporation Law.



F. The Corporation may, to the extent authorized from time
to time by the Board of Directors, grant rights to indemnification and to the advancement of expenses to any employee or agent of the Corporation to the fullest extent of the provisions of this Article ELEVENTH with respect to the indemnification
and advancement of expenses of Directors and Officers of the Corporation.



G. Notwithstanding any other provision set forth in this Article ELEVENTH, in no event shall any payments made by the Corporation pursuant to this Article ELEVENTH exceed the amount permissible under applicable state
or federal law, including but not limited to the limitations on indemnification imposed by Section 18(k) of the Federal Deposit Insurance Act and the regulation issued thereunder by the Federal Deposit Insurance Corporation.



TWELFTH: A Director of this Corporation shall not be personally
liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a Director,





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except for liability: (i) for any breach of the Directors duty of loyalty to the Corporation or its stockholders; (ii) for acts or omissions not in
good faith or which involve intentional misconduct or a knowing violation of law; (iii) under Section 174 of the Delaware General Corporation Law; or (iv) for any transaction from which the Director derived an improper personal benefit. If the
Delaware General Corporation Law is amended to authorize corporate action further eliminating or limiting the personal liability of Directors, then the liability of a Director of the Corporation shall be eliminated or limited to the fullest extent
permitted by the Delaware General Corporation Law, as so amended.



Any repeal or modification of the foregoing paragraph by the stockholders of the Corporation shall not adversely affect any right or protection of a Director of the Corporation existing at the time of such repeal or modification.



THIRTEENTH: The Corporation reserves the right
to amend or repeal any provision contained in this Certificate of Incorporation in the manner prescribed by the laws of the State of Delaware and all rights conferred upon stockholders are granted subject to this reservation; provided, however,
that, notwithstanding any other provision of this Certificate of Incorporation or any provision of law which might otherwise permit a lesser vote or no vote, but in addition to any vote of the holders of any class or series of the stock of this
Corporation required by law or by this Certificate of Incorporation, the affirmative vote of the holders of at least eighty percent (80.0%) of the voting power of all of the then-outstanding shares of Voting Stock (after giving effect to the
provisions of Article FOURTH), voting together as a single class, shall be required to amend or repeal this Article THIRTEENTH, Section C of Article FOURTH, Sections C or D of Article FIFTH, Article SIXTH, Article SEVENTH, Article EIGHTH, Article
NINTH, Article TENTH, Article ELEVENTH or Article TWELFTH.



FOURTEENTH: The name and mailing address of the sole incorporator are as follows:



|                      |  |                                                                                                    
|--------------------- |  | ---------------------------------------------------------------------------------------------------
|Name                  |  | Mailing Address                                                                                    
|William W. Bouton III |  | Tyler Cooper & Alcorn, LLP 185 Asylum
Street/CityPlace  35thFloor Hartford, Connecticut 06103-3488





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| | 4. | This Restated Certificate of Incorporation was duly adopted by the Board of Directors in accordance with Sections 241 and 245 of the General Corporation Law of the State of
Delaware. The corporation has not received any payment for any of its stock.
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IN WITNESS WHEREOF, said NewAlliance Bancshares, Inc., has caused this Certificate to be signed by Merrill B. Blanksteen, its Executive Vice President, Chief Financial Officer and Treasurer, this 17th day of
December, 2003.



/s/  MERRILL B. BLANKSTEENBy:

Merrill B. BlanksteenIts:

Executive Vice President, Chief FinancialOfficer and Treasurer