United Financial Bancorp, Inc. United Bank, headquartered in Hartford, Connecticut, is a Connecticut state-chartered bank with $7.34 billion in assets, over 800 employees and 58 banking locations throughout Connecticut, Massachusetts and Rhode Island. United Financial Bancorp, Inc., the Bank’s Holding Company, trades on the NASDAQ Global Select Stock Market under the ticker symbol “UBNK.” In September 2017, Fortune Magazine ranked United Financial #39 on their 100 Fastest Growing Companies List.
United Bank specializes in retail and business banking, commercial and consumer lending and wealth management services. The Bank’s suite of products and services help customers effectively meet their financial goals while delivering a first-class banking experience in its branches, through its online, mobile and telephone banking channels and by way of their relationship bankers.
Since its founding in 1858, United Bank has been a strong community partner with organizations throughout its footprint. In 2018, United Bank and its charitable foundations invested more than $1.2 million in hundreds of community partnerships, scholarships and corporate sponsorships.
Timeline of significant events
1858: The Savings Bank of Rockville (now named United Bank after Rockville Bank merged with legacy 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.
2017: On February 14, 2017, the Company announced it would be relocating its Corporate Offices from Glastonbury, Connecticut to the Goodwin Square office tower in downtown Hartford, bringing over 200 jobs to Hartford's Central Business District.
2017: On March 31, 2017, the Company announced record revenue and record pre-tax profit, growing its total assets to $6.7 billion.