EX99.1

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                          NEW ENGLAND BANCSHARES, INC.
                               855 Enfield Street
                                Enfield, CT 06082

For Immediate Release

CONTACT: Scott D. Nogles, Chief Financial Officer
         (860) 253-5200

              New England Bancshares, Inc. Reports Earnings for the
                 Three and Six Months Ended September 30, 2006

ENFIELD,  CT, October 30, 2006 - New England  Bancshares,  Inc. (the  "Company")
(Nasdaq GM:  NEBS),  the holding  company for Enfield  Federal  Savings and Loan
Association  (the "Bank"),  reported net income for the quarter ended  September
30, 2006 of $240,000,  or $0.05 per diluted share. For the corresponding quarter
in the prior fiscal year the Company  reported net income of $369,000,  or $0.07
per diluted  share.  Net income for the six months ended  September 30, 2006 was
$510,000,  or $0.10 per  diluted  share as compared  to  $705,000,  or $0.14 per
diluted share, for the prior year period.

NET INTEREST INCOME IMPROVES OVER PRIOR YEAR
Net interest and  dividend  income for the three and six months ended  September
30, 2006 increased by $387,000 and $778,000,  respectively. The increase for the
quarter and six months  were  primarily  due to  increases  in interest  earning
assets of $30.1  million and $29.8  million,  respectively.  The  Company's  net
interest  margin for the quarter  and six months  ended  September  30, 2006 was
3.82% and 3.86%, respectively, compared to 3.87% and 3.88%, respectively, in the
year earlier periods.

TOTAL ASSETS AND DEPOSITS GROW
At September 30, 2006,  total assets were $272.2  million,  an increase of $14.4
million from March 31, 2006. The increase in assets was caused  primarily by the
$31.2   million   increase  in  net  loans  and  a  $4.6  million   increase  in
available-for-sale investments,  partially offset by a $21.7 million decrease in
cash and cash  equivalents.  The increase in net loans was  primarily  due to an
increase of $24.2 million in one-to  four-family  residential  mortgage loans, a
$4.7  million  increase  in  construction  loans,  a $1.6  million  increase  in
commercial loans and a $643,000 increase in commercial real estate loans.  Total
deposits were $169.0  million at March 31, 2006 and $171.0  million at September
30, 2006, a $2.0 million increase. The increase in deposits was due primarily to
a $4.3 million  increase in money market accounts and a $3.3 million increase in
certificate of deposit accounts,  partially offset by a $4.7 million decrease in
savings accounts and a $952,000 decrease in checking  accounts.  Securities sold
under agreements to repurchase increased $2.6 million from $7.3 million at March
31, 2006 to $10.0 million at September 30, 2006. Federal Home Loan Bank advances
increased  $8.6 million to $30.2 million at September 30, 2006 compared to $21.6
million at March 31, 2006.


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PROVISION FOR LOAN LOSSES EXPENSE INCREASES DUE TO LOAN GROWTH
The  provision  for loan losses was $62,000 and  $123,000  for the three and six
months ended September 30, 2006,  respectively,  compared to $53,000 and $85,000
for the three  and six  months  ended  September  30,  2005,  respectively.  The
increase in the  provision  for loan losses was primarily due to the increase in
net loans from March 31, 2006 to September 30, 2006.

ASSET QUALITY
The Company's asset quality remained  favorable.  Non-performing  assets totaled
$325,000  at  September  30,  2006  compared  to  $600,000  at March  31,  2006.
Charge-offs  were $4,000 for the six months ended  September  30, 2006 and 2005.
The  allowance  for loan losses was 0.97% of total loans at  September  30, 2006
compared to 1.09% of total loans at March 31, 2006.

NONINTEREST EXPENSE INCREASES
Non-interest  expense for the quarter ended September 30, 2006 was $2.2 million,
an increase of $600,000,  from $1.6 million for the same quarter a year ago. For
the six months ended  September 30, 2006  non-interest  expense  increased  $1.1
million to $4.2 million  compared to $3.1  million for the year ago period.  The
increase in the three and six month  periods  reflect  additional  salaries  and
employee benefits,  professional fees, and occupancy and equipment expense.  The
increase in occupancy expense for the quarter and six months ended September 30,
2006 was due to the Company  opening  additional  banking offices and moving its
headquarters  and main retail office.  During the six months ended September 30,
2006 the  Company  recognized  approximately  $79,000  of  compensation  expense
related to the  expensing of stock  options in  accordance  with FASB  Statement
123R. In the prior year period the Company did not record any expense related to
stock options.

Statements  contained in this news release,  which are not historical facts, are
forward-looking  statements  as that term is defined in the  Private  Securities
Litigation  reform Act of 1995. Such  forward-looking  statements are subject to
risks and  uncertainties,  which could cause actual results to differ materially
from those currently anticipated due to a number of factors,  which include, but
are not limited to, factors discussed in documents filed by the Company with the
Securities and Exchange Commission from time to time. Subject to applicable laws
and regulation,  the Company does not undertake - and specifically disclaims any
obligation - to publicly  release the results of any revisions which may be made
to any  forward-looking  statements to reflect events or circumstances after the
date  of  such  statements  or to  reflect  the  occurrence  of  anticipated  or
unanticipated events.

New England  Bancshares,  Inc. is  headquartered  in Enfield,  Connecticut,  and
operates Enfield Federal Savings and Loan Association with eight banking centers
servicing  the  communities  of Enfield,  Manchester,  Suffield,  East  Windsor,
Ellington and Windsor Locks. For more information  regarding the Bank's products
and services, please visit www.enfieldfederal.com.


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                               Statistical Summary
                                   (unaudited)
                  (dollars in thousands, except per share data)

Income Statement Data                Three Months Ended       Six Months Ended
                                        September 30,            September 30,
                                     2006         2005        2006         2005
                                    ------       ------      ------       ------
Net interest and dividend income    $2,352       $1,965      $4,672       $3,894
Provision for loan losses           $   62       $   53      $  123       $   85
Non-interest income                 $  218       $  212      $  427       $  397
Non-interest expense                $2,161       $1,561      $4,239       $3,125
Net income                          $  240       $  369      $  510       $  705
Earnings per share(1) :
   Basic                            $ 0.05       $ 0.07      $ 0.10       $ 0.14
   Diluted                          $ 0.05       $ 0.07      $ 0.10       $ 0.14

Dividend per share(1)               $ 0.03       $ 0.02      $ 0.06       $ 0.04


Balance Sheet Data                   September 30, 2006           March 31, 2006
                                     ------------------           --------------
Total assets                              $272,160                   $257,799
Total loans, net                          $179,288                   $148,113
Loan loss reserve                         $  1,755                   $  1,636
Total deposits                            $171,042                   $169,044
Repurchase agreements                     $  9,962                   $  7,325
FHLB advances                             $ 30,228                   $ 21,642
Total equity                              $ 57,227                   $ 56,821
Book value per share(2)                   $  11.53                   $  11.45


Key Ratios                         Three Months Ended         Six Months Ended
                                     September 30,              September 30,
                                  2006           2005       2006           2005
                                  -----          -----      -----          -----
Return on average assets          0.36%          0.67%      0.39%          0.64%
Return on average equity          1.68%          5.03%      1.79%          4.87%
Net interest margin               3.82%          3.87%      3.86%          3.88%

(1) Earnings per share and dividends per share have been adjusted to reflect the
shares issued in the second-step conversion that was completed on December 28,
2005.

(2) Calculation excludes unallocated ESOP shares and unvested incentive stock
grants. Including these shares in the calculation causes book value per share to
decrease to $10.70 and $10.63 at September 30, 2006 and March 31, 2006.
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