This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Rockville Financial, Inc. Announces Record Annual Earnings

The new full-service West Hartford "Banking Center" will offer traditional banking services along with onsite specialized mortgage professionals, financial advisors, commercial bankers, and private banking professionals to meet all of our customer needs in one central convenient location. Mary Chase has been named Vice President, Branch Officer of the new location and is a long-time West Hartford resident with banking experience spanning three decades in Connecticut, mostly serving customers from West Hartford and its surrounding communities. Mary is joined by Josh Gorman recently named Senior Vice President for the newly established Western C&I Commercial Team. Josh has built a strong reputation among other client managers for his expertise in commercial lending and achieving a long list of successes in managing large business client relationships. Together they will lead the West Hartford team comprised of 14 banking professionals who joined Rockville in the fourth quarter 2012.

The Company continued to make enhancements to the mortgage banking business model in the fourth quarter. While on-balance sheet growth in residential loans was modest at $2 million, or 0.4%, in 2012, this is reflective of the Company's strategy to sell fixed rate residential loans to the secondary market in the historically low interest rate environment experienced during the past year. Residential mortgage originations totaled $294 million for the year, a 141% increase from $122 million in the prior year. During the fourth quarter 2012 the Company originated 443 loans totaling $87 million, an increase of 105% and 113%, respectively, from 216 loans totaling $41 million in the fourth quarter 2011. Mortgage originations increased 5% on a linked quarter basis. Additionally, the transition to mortgage loan officers in the business model allows the Company to foster relationships with local realtors to target purchase mortgage production and has increased the volume of purchase mortgages to $27 million in the fourth quarter 2012 as compared to $6 million in the prior year period, a 328% increase in that production source. For the year purchase mortgages totaled $95 million as compared to $33 million in 2011.

6 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs