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December 27, 2012
17:17 EDTUBNKUnited Financial ends ESOP, sees adding 3c to FY13 EPS
On December 20 the board of directors of United Bank, a wholly-owned subsidiary of United Financial Bancorp, voted to terminate the bank’s Employee Stock Ownership Plan, or ESOP, effective December 31. Prior to the termination of the ESOP, the bank made 2012 loan payments totaling $1M, which resulted in the release of approximately 72,000 shares from the ESOP suspense account. These shares are expected to be allocated to participants during 1Q13. The termination of the ESOP will be accretive to earnings for each of the years in the twelve- and fifteen-year periods remaining on the remaining ESOP loan terms. The transaction will result in an after tax charge of approximately $2.4M, $4.1M pretax, or 12c per diluted share in the quarter ending December 31, in connection with the termination of the ESOP. For 2013, the ESOP termination will result in an increase of approximately 3c in diluted EPS.
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April 22, 2015
16:31 EDTUBNKUnited Financial announces organizational restructuring
United Financial Bancorp and United Bank announced an organizational restructuring and the creation of a new executive position called the Head of Consumer Strategy, effective July 1. Brandon C. Lorey, EVP and Head of Consumer Lending, will fill the new position of Head of Consumer Strategy where he will oversee United's retail branch network, Contact Center, Virtual Banking, Loan Servicing and United Northeast Financial Advisors, the Bank's financial advisory team. These responsibilities will be in addition to his current duties of managing Consumer Lending, Mortgage Banking and Loan Servicing.
April 21, 2015
16:20 EDTUBNKUnited Financial raises quarterly dividend to 12c per share from 10c per share
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16:19 EDTUBNKUnited Financial reports Q1 EPS 26c, consensus 23c
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