Rockville Bank's Quarterly Income tops $4 Million

Rockville Financial, Inc., the parent company of Rockville Bank, announced on Thursday net income of $4.6 million, or 18 cents per diluted share, for the quarter ended Sept. 30.

That is compared to net income of $4.7 million, or 17 cents per diluted share, for the quarter ended September 30, 2012.

"I am pleased to announce that Rockville Financial, Inc. achieved two records with regard to earnings in the third quarter of 2013. The Company reported record core operating revenue and return on equity. Additionally, the Company’s strong loan and deposit growth and flat core operating expense for the past five consecutive quarters reflect Rockville’s strategy for continued organic growth and commitment to enhancement of long-term shareholder value," said William H. W. Crawford IV, the president and chief executive officer of Rockville Financial, Inc. and Rockville Bank.

He added, "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. I would like to thank our team of dedicated employees who deliver a superior customer experience every day."

The bank's board of directors recently declared a cash dividend on the company’s common stock 10 cents per share to shareholders of record at the close of business on Oct. 28, and payable on Nov. 4. 

The dividend equates to a 3.04 percent annualized yield based on the $13.17 average closing price of the Company’s common stock in the third quarter of 2013. 

Rockville Bank has paid dividends for 30 consecutive quarters. The dividend payout ratio for the quarter ended Sept. 30 was 57 percent.

To read the earnings release in its entirety, visit www.rockvillefinancialinc.com.

Rockville financial trades on the NASDAQ Global Select Stock Market under the symbol RCKB.