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United Financial To Repurchase 840,000 Shares

Feb 23, 2009 | Reprints | Print

United Bank at 14 Russell Road in Huntington The board of directors of West Springfield-based United Financial Bancorp, the holding company for United Bank, has approved a stock repurchase program of up to 841,138 shares.

The repurchases represent approximately 5 percent of United Financial Bancorp’s total outstanding common stock. As of Feb. 19, the company had 16.8 million common shares outstanding. The company has completed three share repurchase programs since becoming a public company in 2005.

"We continue to believe that the repurchase of UBNK shares is an attractive use of the company’s capital and will enhance shareholder value," said Richard B. Collins, president and chief executive officer of the company.

Banking & Lending