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United Financial Bancorp Reports $4.7M Net Loss

Jan 24, 2013 | Reprints | Unlock Link | Print

West Springfield-based United Financial Bancorp, the holding company for United Bank, reported a fourth quarter net loss of $4.7 million, compared with $3 million net income for the same period in 2011.

The company’s net income was $3.6 million for 2012, compared with net income of $11.2 million for 2011. The results include acquisition-related expenses of $5 million and other expenses of $4.5 million. The bank completed the acquisition of New England Bancshares in the fourth quarter.

The company declared a quarterly cash dividend of 10 cents per share, payable on March 5, to shareholders of record as of Feb. 11.

Banking & Lending