July 29, 2014 1:24 AM ET

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Company Overview of New England Bancshares Inc.

Company Overview

As of November 16, 2012, New England Bancshares Inc. was acquired by United Financial Bancorp, Inc. New England Bancshares, Inc. operates as the holding company for New England Bank that provides various commercial banking products and services. The company generates various deposit products, including non interest-bearing demand accounts, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; passbook and savings accounts; and certificates of deposit. Its loan portfolio comprises residential loans, home equity loans and home equity lines of credit, commercial real estate loans, construction loans for commercial and residential development proje...

855 Enfield Street

Enfield, CT 06082

United States

119 Employees

Phone:

860-253-5200

Key Executives for New England Bancshares Inc.

New England Bancshares Inc. does not have any Key Executives recorded.

New England Bancshares Inc. Key Developments

New England Bancshares Inc.(NasdaqGM:NEBS) dropped from NASDAQ Composite Index

New England Bancshares Inc. will be removed from NASDAQ Composite Index.

New England Bancshares Inc. Announces Cash Dividend, Payable on September 21, 2012

New England Bancshares Inc. announced that the company's Board of Directors declared a cash dividend for the quarter ended June 30, 2012 of $0.03 per share. The cash dividend will be payable on September 21, 2012 to stockholders of record on August 31, 2012.

New England Bancshares Inc. Announces Unaudited Earnings Results for the First Quarter Ended June 30, 2012

New England Bancshares Inc. announced unaudited earnings results for the first quarter ended June 30, 2012. For the quarter, the company reported net interest and dividend income of $5,708,000 against $5,560,000 for the same period a year ago. Net income was $801,000 against $779,000 for the same period a year ago. Earnings per basic and diluted share were $0.14 against $0.13 for the same period a year ago. Return on average assets was 0.44% against 0.45% for the same period a year ago. Return on average equity was 4.42% against 4.39% for the same period a year ago. Exclusive of acquisition related expenses totaling $510,000 for the quarter ended June 30, 2012, the return on average assets would have been 0.72% and the return on average equity would have been 7.23%. Excluding acquisition related expenses of $510,000, net income would have been $1.3 million, or $0.23 per diluted share, for the quarter ended June 30, 2012.

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