United Financial Bancorp Inc. booked a $10 million net profit in the Glastonbury lender’s first full quarter since the April 30 merger of its Connecticut and Massachusetts predecessors.
For three months ended Sept. 30, the parent of United Bank said Wednesday its net was almost double the $4.6 million netted in the third quarter of 2013. Per share, the bank’s net was 19 cents a diluted share vs. 18 cents a diluted share a year ago.
Former Rockville Bank in Vernon and former United Bank of West Springfield underwent a $369 million stock merger.
United said it booked $4 million in merger expenses during the third quarter, comprised of severance payments to former employees, payments to consultants and advisors in order to execute the transaction and to assist in the data processing conversion, as well as other integration expenses.
The bank said it originated a record sum of home mortgages in the quarter.
The bank also declared a cash dividend of a dime a share to be paid Nov. 3 to common stockholders on record by Oct. 27.
