Stock Repurchase ProgramIn accordance with State of Connecticut Department of Banking mutual conversion banking regulations the Company was eligible to adopt a stock repurchase program at the one year anniversary of its March 3, 2011 stock conversion. As such, the Company's Board of Directors approved a buyback plan on March 2, 2012 and commenced the plan upon receiving satisfactory response from the Company's regulator, the Federal Reserve Bank of Boston, on March 13, 2012. Under this plan, the Company may repurchase up to 2,951,250 shares, or 10% of the outstanding shares at the time the plan was approved. As of December 31, 2012, the Company had repurchased 1,806,476 shares at an average cost of $11.97 per share. The average closing price of the Company's common stock over this time period was $12.09 per share.
Rockville Financial, Inc. Announces Record Annual Earnings
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