united financial bancorp inc (UBNK) Snapshot

United Financial Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income of $4.7 million, or $0.23 per basic and diluted share compared to net income of $2.8 million, or $0.19 per basic and diluted share, for the corresponding period in 2012. Excluding branch closing costs totaling $510,000 ($302,000 net of tax benefit) and acquisition related expenses of $158,000 ($152,000 net of tax benefit) resulting from the company's acquisition of New England Bancshares, Inc. in November 2012, net income would have been $5.2 million, or $0.25 per diluted share, for the first quarter of 2013. Tangible book value per share was $13.16 at March 31, 2013. Net interest income increased $7.4 million, or 56%, to $20.5 million for the first quarter of 2013 as a result of an increase in average interest-earning assets and net interest margin expansion compared to $13.10 million a year ago. Total interest and dividend income was $24.39 million compared to $16.97 million a year ago. Income before income taxes was $6.49 million compared to $3.75 million a year ago. Return on average equity was 6.13% compared to 5.00% a year ago. Return on average assets was 0.78% compared to 0.70% a year ago. Book value per share was $15.36 compared to $14.57 a year ago. The company announced that its Board of Directors approved a 10% increase in its quarterly cash dividend to $0.11 per share, payable on May 31, 2013 to shareholders of record as of May 9, 2013.

United Financial Bancorp, Inc., Q1 2013 Earnings Call, Apr 19, 2013

United Financial Bancorp, Inc. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on Apr 18, 2013