Rockville Financial Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net interest income was $16,976,000 against $17,027,000 a year ago. Income before income taxes was $2,040,000 against $6,254,000 a year ago. Net income was $1,757,000 or $0.07 basic and diluted per share against $4,325,000 or $0.16 basic and diluted per share a year ago. Return on average assets was 0.31% and return on average equity was 2.39% against 0.88% and 5.34%, respectively a year ago. Total interest and dividend income was $19,748,000 against $19,656,000 a year ago. Net interest income after provision for loan losses was $16,256,000 against $16,118,000 a year ago. Total core net income was $3,296,000 or $0.13 per diluted share against $3,641,000 or $0.13 per diluted share a year ago. Total core operating revenue was $19,935,000 against $20,719,000 a year ago. Total operating revenue was $19,935,000 against $22,191,000 a year ago. The company reported core return on average assets (ROA) of 0.59% and core return on tangible common equity (ROTCE) of 4.42% for the fourth quarter of 2013. The decrease in operating revenue is primarily attributable to the pre-tax $1.5 million reduction in gains on sales of residential mortgages to the secondary market. Tangible book value increased by $0.20 during the quarter to $11.49 at December 31, 2013 from $11.29 at September 30, 2013, primarily due to a $0.17 increase in the post-retirement benefits asset.

For the year, the company reported net interest income of $67,057,000 against $67,008,000 a year ago. Income before income taxes was $19,596,000 against $22,432,000 a year ago. Net income was $14,227,000 or $0.54 diluted per share against $15,797,000 or $0.56 diluted per share a year ago. ROA was 0.84% for the year 2012. Total interest and dividend income was $77,517,000 against $77,952,000 a year ago. Net interest income after provision for loan losses was $65,011,000 against $63,421,000 a year ago. Total core net income was $16,300,000 or $0.6+2 per diluted share against $15,700,000 or $0.56 per diluted share a year ago. Total core operating revenue was $83,523,000 against $79,908,000 a year ago. Operating revenue was $84,108,000 against $81,715,000 a year ago. Operating revenue for the year was further driven by the commercial banking business's focus on borrower facing loan level hedges.