Nature Of Operations

3 Months Ended

Jun. 30, 2012

Nature Of Operations [Abstract]

Nature Of Operations

NOTE 1 – Nature of Operations

           New England Bancshares, Inc. ("New England Bancshares," or the "Company") is a Maryland corporation and the bank holding company for New England Bank (the "Bank").  The principal asset of the Company is its investment in the Bank.  The Company was organized in 2005 in connection with the "second-step" mutual-to-stock conversion of Enfield Mutual Holding Company. 

           The Bank, incorporated in 1999, is a Connecticut chartered commercial bank headquartered in Enfield, Connecticut.  The Bank's deposits are insured by the FDIC.  The Bank is engaged principally in the business of attracting deposits from the general public and investing those deposits primarily in residential real estate loans, commercial real estate loans, and commercial loans, and to a lesser extent, construction and consumer loans.

On May 31, 2012, the Company executed a definitive merger agreement with United Financial Bancorp, Inc. ("United Financial") under which United Financial will acquire the Company in a transaction valued then at $91 million based on United Financial's 20 day volume weighted average stock price of $15.89 as of May 30, 2012.

Under the terms of the definitive merger agreement, at the effective time of the merger, each share of the Company's common stock will be converted to 0.9575 of a share of United Financial common stock.The consideration received by the Company's stockholders is intended to qualify as a tax-free transaction.The transaction has been approved by the boards of directors of both the Company and United Financial.