United Financial Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
January 27, 2015 at 04:08 pm
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United Financial Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income of $41,892,000 against $16,976,000 a year ago. Loss before income taxes was $4,516,000 against income before income taxes of $2,040,000 a year ago. Net income was $1,421,000 or $0.03 basic and diluted per share against $1,757,000 or $0.07 basic and diluted per share a year ago. Total interest and dividend income was $48,209,000 against $19,748,000 a year ago. Return on average assets (annualized) was 0.11% and return on average equity (annualized) was 0.90% against 0.31% and 2.39%, respectively a year ago. Operating net income was $8,316,000 or $0.16 diluted per share against $3,296,000 or $0.13 diluted per share a year ago.
For the year, the company reported net interest income of $137,872,000 against $67,057,000 a year ago. Income before income taxes was $549,000 against $19,596,000 a year ago. Net income was $6,782,000 or $0.16 diluted per share against $14,227,000 or $0.54 diluted per share a year ago. Total interest and dividend income was $155,879,000 against $77,517,000 a year ago. Operating net income was $26,729,000 or $0.62 diluted per share against $16,300,000 or $0.62 diluted per share a year ago.
United Financial Bancorp, Inc. is a bank holding company. The Company, through its subsidiary United Bank (the Bank) and various subsidiaries, delivers financial services to individuals, families and businesses in Connecticut and Massachusetts, including retail, commercial and consumer banking, as well as financial advisory services. The Company's operations include the delivery of loan and deposit products to customers. Personal and business banking customers also bank with the Company online through its Website at www.bankatunited.com, as well as its mobile and telephone banking channels. The Company originates commercial loans, commercial real estate loans, residential and commercial construction loans, residential real estate loans collateralized by one- to four-family residences, home equity lines of credit and fixed rate loans and other consumer loans. The principal lending activity of the Bank is to originate loans secured by first mortgages on one- to four-family residences.