Type Public company Website Official website Number of employees 700 (2016) | Traded as NASDAQ: UBNK Founded 2005 Total assets 6.5 billion USD (Q3 2016) | |
Industry Financial services, banking Key people William H.W. Crawford, IV.
(CEO) Net income $14.2 million (Q3 2016) or $0.28 per share Headquarters West Springfield, Massachusetts, United States CEO William H.W. Crawford IV (30 Apr 2014–) Profiles | ||
United Financial Bancorp, Inc. is an American holding company for United Bank, a financial services company firm serving Connecticut and Massachusetts. United Bank is headquartered in Glastonbury, Connecticut. William H.W. Crawford, IV is Chief Executive Officer (CEO) of the Bank and the Holding Company.
On April 30, 2014, United Bank (West Springfield, Massachusetts) and Rockville Bank (Glastonbury, Connecticut) merged. Now United Financial Bancorp, Inc., the holding company for United Bank, is a full service financial services firm offering a complete line of commercial and consumer banking products and services to customers throughout Connecticut and Massachusetts. United is a financially strong, leading New England bank with more than 50 branches and various commercial and residential loan production offices. United Financial Bancorp, Inc. trades on the NASDAQ Global Select Stock Exchange under the ticker symbol "UBNK." At September 30, 2016, the Company had $6.5 billion in assets.
History
1858: The Savings Bank of Rockville (now named United Bank after Rockville Bank acquired United in 2014) was founded by twenty local businessmen in Rockville, Connecticut, declaring $175.00 in total assets.
1882: United Bank was founded as Springfield Cooperative Savings Fund and Loan Association, then becoming Springfield Cooperative Bank in 1883.
1960: After merging with Highland Cooperative Bank in 1960 and West Springfield Cooperative Bank in 1968, Springfield Cooperative Bank became United Cooperative Bank.
2000: Savings Bank of Rockville changed its name to Rockville Bank.
2004: United Cooperative Bank changed its name to United Bank, converted to a federal charter and formed a mutual holding company.
2005: Rockville Financial, Inc. the holding company for Rockville Bank, (now named United Financial Bancorp, Inc. after it acquired United Financial in 2014) became a public company and was no longer a non-stock or mutual holding company. United’s mutual holding company initial public offering UBNK on NASDAQ.
2007: United Financial Bancorp, Inc. was incorporated as the holding company for United Bank and completed its second step conversion, becoming a fully public company.
2009: United Financial Bancorp, Inc. completed its acquisition of CNB Financial Corp., parent of Commonwealth National Bank.
2011: Rockville Financial, Inc. (“RCKB”) completed its second step conversion and became a fully public company. William H.W. Crawford, IV joined the Bank in January and officially became CEO in April.
2012: United Financial completed the acquisition of New England Bancshares, Inc., the holding company for New England Bank.
2013: Rockville Bank and United Bank announced plans for a merger of equals, a combined Bank to be led by William H.W. Crawford, IV, CEO.
2014: Rockville was the legal acquirer of United, completed the acquisition of United and immediately changed its name to United Financial Bancorp, Inc. Rockville Bank changed its name to United Bank at that time. As part of the merger, Richard B. Collins, President and CEO of legacy United Bank, retires after 12 years with the Bank.
2014: The “new” United Bank completed its core data processor conversion, officially becoming one United Bank with "community banking teams" covering key market areas throughout Connecticut and Massachusetts.
2015: The Rockville Bank Foundation changes its name to United Bank Foundation Connecticut. The United Bank Foundation changes its name to United Bank Foundation Massachusetts. Total charitable giving in 2015 was $1.2 million.
2015: For 2015, the Company's return on average assets ("ROA") was 0.87%, and return on average equity ("ROE") was 8.08%.
2016: On October 18, the Company announced record quarterly earnings for Q3 2016 and their 42nd consecutive quarterly dividend ($0.12 per share) to shareholders.