Vernon’s Rockville Financial Inc. saw third-quarter net profit dip despite what it says was record core operating results.
For three months ended Sept. 30, the parent of Rockville Bank said Thursday it netted $4.6 million, or 18 cents a diluted share, down from $4.7 million, or 17 cents a share, netted the same quarter a year ago.
“Though the company continues to invest in areas that will expand revenue, Rockville strives to balance reinvestment in the company with current period profits, and remains mindful of operating leverage, protecting tangible book value and mitigating interest rate risk,” President and CEO William H. W. Crawford IV said in a statement.
Rockville Bank is preparing to open before yearend its first Hamden branch, followed by a North Haven office in the third quarter of 2014.
