Day: July 18, 2018

HARTFORD, Conn. — United Financial Bancorp Inc., the holding company for United Bank, announced results for the quarter ended June 30, 2018.

The company reported net income of $15.6 million, or $0.31 per diluted share, for the quarter ended June 30, 2018, compared to net income for the linked quarter of $15.8 million, or $0.31 per diluted share. The company reported net income of $16.2 million, or $0.32 per diluted share, for the quarter ended June 30, 2017.

“In the second quarter of 2018, United Financial Bancorp, Inc.’s earnings results reflected solid linked quarter net interest margin expansion and net interest income growth. Our company continues to grow loans, deposits, particularly checking accounts, and tangible book value while maintaining strong asset quality, capital, and liquidity,” said William Crawford IV, CEO and president of the company and the bank. “I want to thank our United Bank employees for their steadfast support of our customers and communities.”

Assets totaled $7.21 billion at June 30, 2018 and increased $139.9 million, or 2.0%, from $7.07 billion at March 31, 2018. At June 30, 2018, total loans were $5.48 billion, representing an increase of $93.2 million, or 1.7%, from the linked quarter. Changes to loan balances during the second quarter of 2018 were highlighted by an $85.1 million, or 4.6%, increase in investor non-owner occupied commercial real-estate loans, a $22.0 million, or 7.1%, increase in other consumer loans, a $16.8 million, or 1.4%, increase in residential real-estate loans, and a $6.4 million, or 1.1%, increase in home-equity loans. Loans held for sale increased $22.1 million, or 34.8%, from the linked quarter, as the company observed an increase in saleable residential loan volumes during the second quarter of 2018. Total cash and cash equivalents increased $39.9 million, or 57.7%, from the linked quarter.

Deposits totaled $5.39 billion at June 30, 2018 and increased by $110.9 million, or 2.1%, from $5.28 billion at March 31, 2018. Increases in deposit balances during the second quarter of 2018 were highlighted by a $202 million, or 14.5%, increase in money market account balances, a $21.2 million, or 2.6%, increase in NOW checking account balances, and a $17.4 million, or 2.3%, increase in demand deposit account balances. Offsetting these increases were a $116.2 million, or 6.5%, decrease in certificate-of-deposit balances and a $13.5 million, or 2.6%, decrease in savings deposits.

SPRINGFIELD — Do you know a champion for the next generation of female leaders? The Girl Scouts of Central and Western Massachusetts announced its new awards program honoring five professionals in Western Mass.

The ToGetHerThere Awards gives area businesses and organizations the opportunity to honor a difference maker from within their ranks who has shown exceptional achievement in their profession, is an inspiration to their co-workers and young women, and has made contributions to their community. The nominated person must demonstrate role-model behavior in their professional career and represent the Girl Scouts’ mission of building girls of courage, confidence, and character, who make the world a better place.

The nomination deadline is Friday, Sept. 1. The Girl Scouts of Central and Western Massachusetts will honor the winners at the ToGetHerThere Awards Luncheon on Friday, Nov. 2, at MGM Springfield.

Nomination forms and requirements can be found at www.gscwm.org/en/events/special-events/TGHTA.html, or by contacting Melanie Bonsu, (413) 584-2602, ext. 3623, or [email protected]. Nominations will be reviewed by a panel of business, community, and civic leaders who will then select the honorees.

SPRINGFIELD — Work Opportunity Center Inc. announced it is a recipient of a $5,000 grant donation from the Westfield Bank Foundation. The money will be put toward the purchase of a vehicle for the Community Based Day Services (CBDS) program.

The CBDS program of supports enables individuals with developmental disabilities to enrich their life and enjoy a full range of community activities by providing opportunities for developing, enhancing, and maintaining competency in personal, social, and community activities.

The program has been set up with five core fundamentals: education, social and recreational, health and wellness, life skills, and employment and volunteerism. Options that are given to individuals who participate in CBDS include career exploration, community-integration experiences to support fuller participation in community life, skills development and training, volunteer opportunities with local nonprofits, health and fitness classes, socialization experiences, and support to enhance interpersonal skills, as well as the pursuit of personal interests and hobbies. The program currently serves 84 individuals.

TURNERS FALLS — The United Arc 2018 Annual Gala & Auction will be held on Saturday, Sept. 15 at Hadley Farms Meeting House in Hadley.

The event offers collections of packages from local businesses and individuals that support the United Arc’s mission. The Priceless Collection showcases the works of local artists, including those with intellectual and developmental disabilities. Through being featured at past auctions, some of these artists are increasingly finding opportunities to share their artistic talents.

Leading up to the event throughout the summer, select packages are up for bid online in a web-based catalog. Hosted at www.theunitedarc.org/auction, this catalog also provides previews of raffle prizes and packages for the silent and live auctions available at the gala. The online auction will run Monday, Sept. 3.

Tickets are on sale now. Additional package donations and sponsorships are welcome. To become a sponsor or donate an auction package, contact Development Coordinator Saera Hanlon at (413) 774-5558, ext. 1058, or [email protected].

All proceeds go to support the United Arc’s programs for people with intellectual and developmental disabilities. The organization provides services to individuals and their families in Franklin, Hampshire, Hampden, and Worcester counties.