United Financial Bancorp, Inc. (UBNK: Quote) reported second-quarter net income of $2.6 million or $0.17 per share, down from $2.7 million or $0.18 per share in the comparable quarter last year.
Excluding acquisition related expenses of $592,000, net income for the latest quarter was $3.2 million or $0.21 per share.
On average, 4 analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically excludes special items.
Net interest income for the latest quarter declined 1 percent to $13.3 million from $13.4 million a year ago, while total non-interest income rose to $2.6 million from $2.2 million in the year-ago quarter.
Three analysts expected the company to earn $13.09 million for the quarter.
Provision for loan losses increased to $750,000 from $673,000 million last year.
United Financial also announced an 11 percent increase in its quarterly cash dividend to $0.10 per share, payable on August 30 to shareholders of record as of August 9.
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by RTT Staff Writer
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