10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

ý Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2015.

Commission File Number: 001-35028

UNITED FINANCIAL BANCORP, INC.

(Exact name of registrant as specified in its charter)

Connecticut	27-3577029
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
45 Glastonbury Boulevard, Glastonbury, Connecticut	06033
(Address of principal executive offices)	(Zip Code)

(860) 291-3600

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    ý  Yes    ¨  No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter prior that the registrant was required to submit and post such files).    Yes  ý    No  ¨

Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12B-2 of the Exchange Act. (Check one):

Large accelerated filer	¨	Accelerated filer	ý
Non-accelerated filer	¨  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12B-2 of the Act).    Yes  ¨    No  ý

As of July 31, 2015, there were 49,502,326 shares of Registrant’s no par value common stock outstanding.

Table of Contents

		Page
Part I - FINANCIAL INFORMATION
Item 1.	Interim Financial Statements
	Consolidated Statements of Condition as of June 30, 2015 and December 31, 2014	3
	Consolidated Statements of Operations for the three and six months ended June 30, 2015 and 2014	4
	Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2015 and 2014	5
	Consolidated Statements of Changes in Stockholders’ Equity for the six months ended June 30, 2015 and 2014	6
	Consolidated Statements of Cash Flows for the six months ended June 30, 2015 and 2014	7
	Notes to Unaudited Consolidated Financial Statements	9
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	46
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	70
Item 4.	Controls and Procedures	71
Part II - OTHER INFORMATION
Item 1.	Legal Proceedings	71
Item 1A.	Risk Factors	71
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	72
Item 3.	Defaults Upon Senior Securities	72
Item 4.	Mine Safety Disclosures	72
Item 5.	Other Information	72
Item 6.	Exhibits	72
SIGNATURES		74
Exhibits

Part 1 - FINANCIAL INFORMATION

Item 1 - Interim Financial Statements

United Financial Bancorp, Inc. and Subsidiaries

Consolidated Statements of Condition

(In thousands, except share data) (Unaudited)	June 30, 2015			December 31, 2014
ASSETS
Cash and due from banks	$	44,482		$	43,416
Short-term investments	40,043			43,536
Total cash and cash equivalents	84,525			86,952
Available for sale securities - at fair value	1,061,927			1,053,011
Held to maturity securities - at amortized cost	14,992			15,368
Loans held for sale	28,017			8,220
Loans receivable (net of allowance for loan losses of $28,856 at June 30, 2015 and $24,809 at December 31, 2014)	4,048,770			3,877,063
Federal Home Loan Bank of Boston stock	37,061			31,950
Accrued interest receivable	14,777			14,212
Deferred tax asset, net	31,822			33,833
Premises and equipment, net	57,131			57,665
Goodwill	115,265			115,240
Core deposit intangible	8,372			9,302
Cash surrender value of bank-owned life insurance	124,287			122,622
Other real estate owned	227			2,239
Other assets	53,517			49,132
Total assets	$	5,680,690		$	5,476,809
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits:
Non-interest-bearing	$	610,279		$	602,359
Interest-bearing	3,571,972			3,432,952
Total deposits	4,182,251			4,035,311
Mortgagors’ and investors’ escrow accounts	15,168			13,004
Advances from the Federal Home Loan Bank	673,355			580,973
Other borrowings	152,608			196,341
Accrued expenses and other liabilities	45,313			48,772
Total liabilities	5,068,695			4,874,401
Stockholders’ equity:
Preferred stock (no par value; 2,000,000 authorized; no shares issued)	—			—
Common stock (no par value; authorized 120,000,000 and 60,000,000 shares; 49,494,671 and 49,537,700 shares issued and outstanding, at June 30, 2015 and December 31, 2014, respectively)	513,499			514,189
Additional paid-in capital	14,367			16,007
Unearned compensation - ESOP	(6,036		)	(6,150		)
Retained earnings	100,347			84,852
Accumulated other comprehensive loss, net of tax	(10,182		)	(6,490		)
Total stockholders’ equity	611,995			602,408
Total liabilities and stockholders’ equity	$	5,680,690		$	5,476,809

See accompanying notes to unaudited consolidated financial statements.

3

United Financial Bancorp, Inc. and Subsidiaries

Consolidated Statements of Operations

	For the Three Months   Ended June 30,						For the Six Months   Ended June 30,
(In thousands, except share data) (Unaudited)	2015			2014			2015			2014
Interest and dividend income:
Loans	$	41,253		$	35,237		$	81,780		$	52,081
Securities - taxable interest	4,771			3,981			10,040			5,884
Securities - non-taxable interest	2,181			1,053			4,273			1,824
Securities - dividends	472			468			846			641
Interest-bearing deposits	34			28			67			39
Total interest and dividend income	48,711			40,767			97,006			60,469
Interest expense:
Deposits	5,584			3,146			10,324			5,304
Borrowed funds	2,224			742			4,436			1,378
Total interest expense	7,808			3,888			14,760			6,682
Net interest income	40,903			36,879			82,246			53,787
Provision for loan losses	4,462			2,080			5,973			2,530
Net interest income after provision for loan losses	36,441			34,799			76,273			51,257
Non-interest income:
Service charges and fees	5,643			3,636			9,474			5,522
Gain on sales of securities, net	360			589			698			857
Income from mortgage banking activities	2,990			1,236			5,361			1,791
Bank-owned life insurance income	830			750			1,664			1,272
Net loss on limited partnership investments	(916		)	—			(1,346		)	—
Other, net	464			108			355			86
Total non-interest income	9,371			6,319			16,206			9,528
Non-interest expense:
Salaries and employee benefits	16,595			14,541			33,167			24,783
Service bureau fees	1,466			1,768			3,286			2,859
Occupancy and equipment	3,799			2,610			8,257			4,308
Professional fees	782			856			1,699			1,284
Marketing and promotions	620			280			1,256			509
FDIC insurance assessments	823			632			1,901			950
Other real estate owned	62			125			177			433
Core deposit intangible amortization	449			321			930			321
Merger and acquisition expense	—			20,945			—			22,774
Other	5,761			4,099			10,341			6,213
Total non-interest expense	30,357			46,177			61,014			64,434
Income (loss) before income taxes	15,455			(5,059		)	31,465			(3,649		)
Provision for income taxes	2,123			512			5,108			975
Net income (loss)	$	13,332		$	(5,571	)	$	26,357		$	(4,624	)
Net income (loss) per share:
Basic	$	0.27		$	(0.13	)	$	0.54		$	(0.14	)
Diluted	$	0.27		$	(0.13	)	$	0.53		$	(0.14	)
Weighted-average shares outstanding:
Basic	48,837,512			43,178,460			48,777,096			34,191,095
Diluted	49,309,189			43,178,460			49,292,910			34,191,095

See accompanying notes to unaudited consolidated financial statements.

4

United Financial Bancorp, Inc. and Subsidiaries

Consolidated Statements of Comprehensive Income (Loss)

	For the Three Months   Ended June 30,						For the Six Months   Ended June 30,
(In thousands) (Unaudited)	2015			2014			2015			2014
Net income (loss)	$	13,332		$	(5,571	)	$	26,357		$	(4,624	)
Other comprehensive income (loss):
Securities available for sale:
Unrealized holding gains (losses)	(14,052		)	7,637			(5,049		)	12,880
Reclassification adjustment for gains realized in operations (1)	(360		)	(589		)	(698		)	(857		)
Net unrealized gains (losses)	(14,412		)	7,048			(5,747		)	12,023
Tax effect - benefit (expense)	5,180			(2,472		)	2,062			(4,214		)
Net-of-tax amount - securities available for sale	(9,232		)	4,576			(3,685		)	7,809
Interest rate swaps designated as cash flow hedges:
Unrealized gains (losses)	2,715			(2,366		)	(635		)	(4,887		)
Reclassification adjustment for expense realized in operations (2)	—			—			12			—
Net unrealized gains (losses)	2,715			(2,366		)	(623		)	(4,887		)
Tax effect - benefit (expense)	(978		)	802			225			1,685
Net-of-tax amount - interest rate swaps	1,737			(1,564		)	(398		)	(3,202		)
Defined benefit pension plans:
Reclassification adjustment for losses recognized in net periodic benefit cost (3)	185			—			369			—
Tax effect - benefit (expense)	(62		)	—			7			—
Net-of-tax amount - pension plans	123			—			376			—
Post-retirement plans:
Reclassification adjustment for prior service costs recognized in net periodic benefit cost (4)	1			3			3			8
Reclassification adjustment for losses recognized in net periodic benefit cost (4)	5			—			11			—
Losses arising during the period	—			(2		)	—			(5		)
Change in losses and prior service costs	6			1			14			3
Tax effect - benefit (expense)	(2		)	(1		)	1			(1		)
Net-of-tax amount - post-retirement plans	4			—			15			2
Net-of-tax amount - pension and post-retirement plans	127			—			391			2
Total other comprehensive income (loss)	(7,368		)	3,012			(3,692		)	4,609
Comprehensive income (loss)	$	5,964		$	(2,559	)	$	22,665		$	(15	)

(In thousands)

(1) Amounts are included in gain on sales of securities, net in the unaudited Consolidated Statements of Operations in total non-interest income. Income tax benefit associated with the reclassification adjustment was $129 and $206 for the three months ended June 30, 2015 and 2014, respectively and $251 and $300 for the six months ended June 30, 2015 and 2014, respectively.

(2) Amounts are included in borrowed funds in the unaudited Consolidated Statements of Operations in interest expense. Income tax benefit associated with the reclassification adjustment for the three and six months ended June 30, 2015 was zero and $4, respectively.

(3) Amounts are included in salaries and employee benefits in the unaudited Consolidated Statements of Operations in total non-interest expense. Income tax expense associated with the reclassification adjustment for the three and six months ended June 30, 2015 and 2014 was $67 and $133, respectively, and zero and zero, respectively.

(4) Amounts are included in salaries and employee benefits in the unaudited Consolidated Statements of Operations in total non-interest expense. Income tax expense associated with the reclassification adjustment for prior period service costs for the three months ended June 30, 2015 and 2014 was zero and $1, respectively, and $1 and $3, for the six month ended June 30, 2015 and 2014, respectively. Income tax expense associated with the reclassification adjustment of the losses recognized in net periodic benefit cost for the three and six months ended June 30, 2015 was $2and$4, respectively.

See accompanying notes to unaudited consolidated financial statements.

5

United Financial Bancorp, Inc. and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity

(In thousands, except share data) (Unaudited)	Common Stock					Additional Paid-in Capital			Unearned Compensation  - ESOP			Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock					Total Stockholders’ Equity
	Shares		Amount															Shares		Amount
Balance at December 31, 2014	49,537,700		$	514,189		$	16,007		$	(6,150	)	$	84,852		$	(6,490	)	—		$	—		$	602,408
Comprehensive income	—		—			—			—			26,357			(3,692		)	—		—			22,665
Common stock repurchased	(377,700	)	(5,171		)	—			—			—			—			—		—			(5,171		)
Share-based compensation expense	—		—			526			—			—			—			—		—			526
ESOP shares released or committed to be released	—		—			33			114			—			—			—		—			147
Shares issued for stock options exercised and SARs	324,908		4,325			(1,980		)	—			—			—			—		—			2,345
Shares issued for restricted stock grants	27,330		340			(340		)	—			—			—			—		—			—
Cancellation of shares for tax withholding	(17,567	)	(184		)	(61		)	—			—			—			—		—			(245		)
Tax benefit from stock-based awards	—		—			182			—			—			—			—		—			182
Dividends paid ($0.22 per common share)	—		—			—			—			(10,862		)	—			—		—			(10,862		)
Balance at June 30, 2015	49,494,671		$	513,499		$	14,367		$	(6,036	)	$	100,347		$	(10,182	)	—		$	—		$	611,995
Balance at December 31, 2013	29,456,290		$	243,776		$	15,808		$	(7,151	)	$	96,078		$	(4,766	)	3,487,886		$	(44,363	)	$	299,382
Comprehensive loss	—		—			—			—			(4,624		)	4,609			—		—			(15		)
Issuance of common stock for acquisition of United Financial Bancorp, Inc.	26,706,401		358,069			—			—			—			—			—		—			358,069
Cancellation of treasury shares	(3,476,270	)	(44,226		)	—			—			—			—			(3,476,270	)	44,226			—
Common stock repurchased	(89,195	)	(1,131		)	—			—			—			—			—		—			(1,131		)
Share-based compensation expense	—		—			3,334			—			—			—			—		—			3,334
ESOP shares released or committed to be released	—		—			373			500			—			—			—		—			873
Shares issued for stock options exercised	180,973		2,598			(1,751		)	—			—			—			—		—			847
Shares issued for restricted stock grants	128,233		1,752			(1,752		)	—			—			—			—		—			—
Cancellation of shares for tax withholding	(96,832	)	(322		)	(986		)	—			—			—			—		—			(1,308		)
Reissuance of common shares in connection with stock options exercised	—		—			(55		)	—			—			—			(11,616	)	137			82
Tax benefit from stock-based awards	—		—			360			—			—			—			—		—			360
Dividends paid ($0.20 per common share)	—		—			—			—			(7,850		)	—			—		—			(7,850		)
Balance at June 30, 2014	52,809,600		$	560,516		$	15,331		$	(6,651	)	$	83,604		$	(157	)	—		$	—		$	652,643

See accompanying notes to unaudited consolidated financial statements.

6

United Financial Bancorp, Inc. and Subsidiaries Consolidated Statements of Cash Flows
	For the Six Months   Ended June 30,
(In thousands) (Unaudited)	2015			2014
Cash flows from operating activities:
Net income (loss)	$	26,357		$	(4,624	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Amortization of premiums and discounts on investments, net	2,618			911
Accretion of intangible assets and purchase accounting marks	(6,005		)	(4,620		)
Amortization of subordinated debt issuance costs	63			—
Share-based compensation expense	526			3,334
ESOP expense	147			873
Loss on extinguishment of debt	—			288
Tax benefit from stock-based awards	(182		)	(360		)
Provision for loan losses	5,973			2,530
Gain on sales of securities, net	(698		)	(857		)
Loans originated for sale	(181,985		)	(60,989		)
Proceeds from sales of loans held for sale	167,549			43,497
(Increase) decrease in mortgage servicing asset	(1,265		)	312
Gain on sales of other real estate owned	(168		)	(171		)
Income from mortgage banking activities	(5,361		)	(1,791		)
Loss on disposal of equipment	168			—
Write-downs of other real estate owned	118			134
Depreciation and amortization	2,643			1,458
Loss on limited partnerships	1,346			—
Deferred income tax expense	4,306			5,804
Increase in cash surrender value of bank-owned life insurance	(1,664		)	(1,272		)
Net change in:
Deferred loan fees and premiums	(1,553		)	(761		)
Accrued interest receivable	(565		)	(1,753		)
Other assets	(7,611		)	(10,085		)
Accrued expenses and other liabilities	(659		)	(3,233		)
Net cash provided by (used in) operating activities	4,098			(31,375		)
Cash flows from investing activities:
Proceeds from sales of available for sale securities	143,198			242,077
Proceeds from calls and maturities of available for sale securities	16,155			10,600
Principal payments on available for sale securities	48,134			22,847
Principal payments on held to maturity securities	361			403
Purchases of available for sale securities	(222,664		)	(464,724		)
Purchases of held to maturity securities	—			(2,342		)
Cash acquired from United Financial Bancorp, Inc.	—			25,410
Redemption of FHLBB stock	—			1,968
Purchase of FHLBB stock	(5,111		)	—
Proceeds from sale of other real estate owned	2,205			2,428
Purchases of loans	(5,448		)	(4,601		)
Loan originations, net of principal repayments	(166,816		)	(105,717		)
Purchase of bank-owned life insurance	—			—
Purchases of premises and equipment	(3,026		)	(3,504		)
Proceeds from sale of equipment	192			—

(Continued)

See accompanying notes to unaudited consolidated financial statements.

7

United Financial Bancorp, Inc. and Subsidiaries Consolidated Statements of Cash Flows - Concluded
	For the Six Months   Ended June 30,
(In thousands) (Unaudited)	2015			2014
Net cash used in investing activities	(192,820		)	(275,155		)
Cash flows from financing activities:
Net increase in non-interest-bearing deposits	7,920			50,120
Net increase in interest-bearing deposits	140,944			250,324
Net decrease in mortgagors’ and investors’ escrow accounts	2,164			3,583
Net increase in short-term FHLBB advances	33,000			59,888
Repayments of long-term FHLBB advances	(4,646		)	(12,466		)
Proceeds from long-term FHLBB advances	65,000			18,549
Net decrease in other borrowings	(43,813		)	(10,277		)
Proceeds from exercise of stock options and stock purchase plan	2,345			929
Common stock repurchased	(5,694		)	(1,131		)
Cancellation of shares for tax withholding	(245		)	(1,308		)
Tax benefit from share-based awards	182			360
Cash dividend paid on common stock	(10,862		)	(7,850		)
Net cash provided by financing activities	186,295			350,721
Net (decrease) increase in cash and cash equivalents	(2,427		)	44,191
Cash and cash equivalents, beginning of period	86,952			45,235
Cash and cash equivalents, end of period	$	84,525		$	89,426
Supplemental Disclosures of Cash Flow Information:
Cash paid (refunded) during the year for:
Interest	$	17,704		$	6,310
Income taxes, net	(7,259		)	415
Transfer of loans to other real estate owned	254			1,691
Decrease in due to broker, investment purchases	(1,105		)	(5,859		)
Decrease in due to broker, common stock buyback	(523		)	—

See accompanying notes to unaudited consolidated financial statements.

8

United Financial Bancorp, Inc. and Subsidiaries

Notes to Unaudited Consolidated Financial Statements

Note 1. Summary of Significant Accounting Policies

Nature of Operations

On April 30, 2014, Rockville Financial, Inc. (“Rockville”) completed its merger with United Financial Bancorp, Inc. (“Legacy United”) and changed its legal entity name to United Financial Bancorp, Inc. (the “Company”). In connection with this merger, Rockville Bank, the Company’s principal asset and wholly-owned subsidiary, completed its merger with Legacy United’s banking subsidiary, United Bank, and changed its name to United Bank (the “Bank”). Discussions throughout this report related to the merger with Legacy United are referred to as the “Merger.”

The consolidated financial statements for periods prior to April 30, 2014 do not reflect the operations of Legacy United.

The Company, through United Bank and various subsidiaries, delivers financial services to individuals, families and businesses primarily throughout Connecticut and Massachusetts through 52 banking offices, its commercial loan production offices, its mortgage loan production offices, 63 ATMs, telephone banking, mobile banking and its internet website (www.bankatunited.com).

Basis of Presentation

The consolidated interim financial statements and the accompanying notes presented in this report include the accounts of the Company, the Bank and the Bank’s wholly-owned subsidiaries, United Bank Mortgage Company, United Bank Investment Corp., Inc., United Bank Commercial Properties, Inc., United Bank Residential Properties, Inc., United Northeast Financial Advisors, Inc., United Bank Investment Sub, Inc., UCB Securities, Inc. II and UB Properties, LLC.

The consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included in the interim unaudited consolidated financial statements. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or any future period. These unaudited interim consolidated financial statements should be read in conjunction with the Company’s 2014 audited consolidated financial statements and notes thereto included in United Financial Bancorp, Inc.’s Annual Report on Form 10-K as of and for the year ended December 31, 2014.

Common Share Repurchases

The Company is chartered in the state of Connecticut. Connecticut law does not provide for treasury shares, rather shares repurchased by the Company constitute authorized but unissued shares. GAAP states that accounting for treasury stock shall conform to state law. Therefore, the cost of shares repurchased by the Company has been allocated to common stock balances. Notwithstanding the foregoing, prior to June 30, 2014, the Consolidated Statement of Condition refers to repurchased shares as “treasury stock.”

Reclassifications

Certain reclassifications have been made in prior periods’ consolidated financial statements to conform to the 2015 presentation. These reclassifications had no impact on the Company’s consolidated financial position, results of operations or net change in cash equivalents. All significant intercompany transactions have been eliminated.

Use of Estimates

The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Actual results in the future could vary from the amounts derived from management’s estimates and assumptions. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, realizability of deferred tax assets, the evaluation of securities for other-than-temporary impairment, the valuation of derivative instruments and hedging activities and goodwill impairment valuations.

Note 2. Recent Accounting Pronouncements

Interest-Imputation of Interest.

In April 2015, the Financial Accounting Standards Board issued Accounting Standard Update “ASU” No. 2015-03, (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, as part of its simplification initiative. The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as

9

a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. For public business entities, the guidance in the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Entities would apply the new guidance retrospectively to all prior periods (i.e., the balance sheet for each period is adjusted). This ASU is not expected to have a material impact on the Company’s Consolidated Financial Statements.

Note 3. Securities

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities at June 30, 2015 and December 31, 2014 are as follows:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2015
Available for sale:
Debt securities:
U.S. Government and government-sponsored enterprise obligations	$	10,630	$	79	$	(245	)	$	10,464
Government-sponsored residential mortgage-backed securities	126,865		700		(1,440		)	126,125
Government-sponsored residential collateralized debt obligations	280,162		1,737		(1,010		)	280,889
Government-sponsored commercial mortgage-backed securities	54,111		626		(265		)	54,472
Government-sponsored commercial collateralized debt obligations	133,795		832		(187		)	134,440
Asset-backed securities	162,957		871		(646		)	163,182
Corporate debt securities	52,472		52		(1,992		)	50,532
Obligations of states and political subdivisions	215,725		252		(4,372		)	211,605
Total debt securities	1,036,717		5,149		(10,157		)	1,031,709
Marketable equity securities, by sector:
Banks	26,846		375		(261		)	26,960
Industrial	109		57		—			166
Mutual funds	2,840		77		(4		)	2,913
Oil and gas	131		48		—			179
Total marketable equity securities	29,926		557		(265		)	30,218
Total available for sale securities	$	1,066,643	$	5,706	$	(10,422	)	$	1,061,927
Held to maturity:
Debt securities:
Obligations of states and political subdivisions	$	12,379	$	686	$	(7	)	$	13,058
Government-sponsored residential mortgage-backed securities	2,613		307		—			2,920
Total held to maturity securities	$	14,992	$	993	$	(7	)	$	15,978

10

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2014
Available for sale:
Debt securities:
U.S. Government and government-sponsored enterprise obligations	$	6,965	$	94	$	(237	)	$	6,822
Government-sponsored residential mortgage-backed securities	165,199		2,379		(159		)	167,419
Government-sponsored residential collateralized debt obligations	237,128		1,365		(360		)	238,133
Government-sponsored commercial mortgage-backed securities	67,470		1,081		(253		)	68,298
Government-sponsored commercial collateralized debt obligations	129,547		737		(598		)	129,686
Asset-backed securities	181,198		272		(2,715		)	178,755
Corporate debt securities	43,907		35		(1,697		)	42,245
Obligations of states and political subdivisions	194,857		1,572		(657		)	195,772
Total debt securities	1,026,271		7,535		(6,676		)	1,027,130
Marketable equity securities, by sector:
Banks	22,645		277		(340		)	22,582
Industrial	109		76		—			185
Mutual funds	2,824		89		(3		)	2,910
Oil and gas	131		73		—			204
Total marketable equity securities	25,709		515		(343		)	25,881
Total available for sale securities	$	1,051,980	$	8,050	$	(7,019	)	$	1,053,011
Held to maturity:
Debt securities:
Obligations of states and political subdivisions	$	12,397	$	1,006	$	—		$	13,403
Government-sponsored residential mortgage-backed securities	2,971		339		—			3,310
Total held to maturity securities	$	15,368	$	1,345	$	—		$	16,713

At June 30, 2015, the net unrealized loss on securities available for sale of $4.7 million, net of an income tax benefit of $1.7 million, or $3.0 million, was included in accumulated other comprehensive loss. The amortized cost and fair value of debt securities at June 30, 2015 by contractual maturities are presented below. Actual maturities may differ from contractual maturities because some securities may be called or repaid without any penalties. Also, because mortgage-backed securities require periodic principal paydowns, they are not included in the maturity categories in the following maturity summary.

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	Available for Sale				Held to Maturity
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity:
Within 1 year	$	225	$	225	$	—	$	—
After 1 year through 5 years	4,799		4,699		—		—
After 5 years through 10 years	51,975		51,293		1,199		1,208
After 10 years	221,828		216,384		11,180		11,850
	278,827		272,601		12,379		13,058
Government-sponsored residential mortgage-backed securities	126,865		126,125		2,613		2,920
Government-sponsored residential collateralized debt obligations	280,162		280,889		—		—
Government-sponsored commercial mortgage-backed securities	54,111		54,472		—		—
Government-sponsored commercial collateralized debt obligations	133,795		134,440		—		—
Asset-backed securities	162,957		163,182		—		—
Total debt securities	$	1,036,717	$	1,031,709	$	14,992	$	15,978

At June 30, 2015, the Company had 94 encumbered securities with a fair value of $355.6 million pledged as derivative collateral, collateral for reverse repurchase borrowings and collateral for Federal Home Loan Bank of Boston (“FHLBB”) borrowing capacity. At December 31, 2014, the Company had 219 encumbered securities with a fair value of $336.3 million pledged as derivative collateral, collateral for reverse repurchase borrowings, and collateral for FHLBB borrowing capacity.

For the three months ended June 30, 2015 and 2014, gross gains of $604,000 and $1.0 million, respectively, were realized on the sales of available for sale securities. There were gross losses of $244,000 and $446,000 realized on the sale of available for sale securities for the three months ended June 30, 2015 and 2014. For the six months ended June 30, 2015 and 2014, gross gains of $2.3 million and $1.3 million, respectively, were realized on the sales of available for sale securities. There were gross losses of $1.6 million and $446,000 realized on the sale of available for sale securities for the six months ended June 30, 2015 and 2014, respectively.

As of June 30, 2015, the Company did not have any exposure to private-label mortgage-backed securities. The Company also did not own any single security with an aggregate book value in excess of 10% of the Company’s stockholders’ equity.

As of June 30, 2015, the fair value of the obligations of states and political subdivisions portfolio was $224.7 million, with no significant geographic/issuer exposure concentrations. Of the total revenue and general obligations of $224.7 million, $95.8 million were representative of general obligation bonds for which $69.8 million are general obligations of political subdivisions of the respective state, rather than general obligations of the state itself. 

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The following table summarizes gross unrealized losses and fair value, aggregated by category and length of time the securities have been in a continuous unrealized loss position, as of June 30, 2015 and December 31, 2014:

	Less Than 12 Months					12 Months or More					Total
(In thousands)	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
June 30, 2015
Available for sale:
Debt Securities:
U.S. Government and government-sponsored enterprise obligations	$	—	$	—		$	4,749	$	(245	)	$	4,749	$	(245	)
Government-sponsored residential mortgage-backed securities	66,416		(1,074		)	18,539		(366		)	84,955		(1,440		)
Government-sponsored residential collateralized debt obligations	98,728		(946		)	3,851		(64		)	102,579		(1,010		)
Government-sponsored commercial mortgage-backed securities	8,897		(62		)	10,408		(203		)	19,305		(265		)
Government-sponsored commercial collateralized debt obligations	32,375		(187		)	—		—			32,375		(187		)
Asset-backed securities	38,548		(220		)	27,717		(426		)	66,265		(646		)
Corporate debt securities	46,889		(820		)	1,585		(1,172		)	48,474		(1,992		)
Obligations of states and political subdivisions	171,491		(3,978		)	13,302		(394		)	184,793		(4,372		)
Total debt securities	463,344		(7,287		)	80,151		(2,870		)	543,495		(10,157		)
Marketable equity securities	10,933		(261		)	184		(4		)	11,117		(265		)
Total available for sale securities	$	474,277	$	(7,548	)	$	80,335	$	(2,874	)	$	554,612	$	(10,422	)
Held to Maturity:
Debt Securities:
Obligations of states and political subdivisions	1,110		(7		)	—		—			1,110		(7		)
Total held to maturity securities	$	1,110	$	(7	)	$	—	$	—		$	1,110	$	(7	)
December 31, 2014
Available for sale:
Debt Securities:
U.S. Government and government-sponsored enterprise obligations	$	—	$	—		$	4,757	$	(237	)	$	4,757	$	(237	)
Government-sponsored residential mortgage-backed securities	1,492		(11		)	19,785		(148		)	21,277		(159		)
Government-sponsored residential collateralized debt obligations	35,769		(124		)	17,443		(236		)	53,212		(360		)
Government-sponsored commercial mortgage-backed securities	14,118		(15		)	16,337		(238		)	30,455		(253		)
Government-sponsored commercial collateralized debt obligations	62,477		(551		)	4,991		(47		)	67,468		(598		)
Asset-backed securities	128,808		(2,080		)	20,146		(635		)	148,954		(2,715		)
Corporate debt securities	30,634		(501		)	5,054		(1,196		)	35,688		(1,697		)
Obligations of states and political subdivisions	55,029		(419		)	18,568		(238		)	73,597		(657		)
Total debt securities	328,327		(3,701		)	107,081		(2,975		)	435,408		(6,676		)
Marketable equity securities	12,716		(340		)	140		(3		)	12,856		(343		)
Total available for sale securities	$	341,043	$	(4,041	)	$	107,221	$	(2,978	)	$	448,264	$	(7,019	)

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Of the securities summarized above as of June 30, 2015, 152 issues had unrealized losses equaling 1.6% of the amortized cost basis for less than twelve months and 92 issues had an unrealized loss of 3.5% of the amortized cost basis for twelve months or more. Unrealized losses on debt securities held to maturity were insignificant at June 30, 2015. As of December 31, 2014, 155 issues had unrealized losses equaling 1.2% of the cost basis for less than twelve months and 78 issues had unrealized losses equaling 2.7% of the amortized cost basis for twelve months or more.

Management believes that no individual unrealized loss as of June 30, 2015 represents an other-than-temporary impairment, based on its detailed quarterly review of the securities portfolio. Among other things, the other-than-temporary impairment review of the investment securities portfolio focuses on the combined factors of percentage and length of time by which an issue is below book value as well as consideration of issuer specific information (present value of cash flows expected to be collected, issuer rating changes and trends, credit worthiness and review of underlying collateral), broad market details and the Company’s intent to sell the security or if it is more likely than not that the Company will be required to sell the debt security before recovering its cost. The Company also considers whether the depreciation is due to interest rates or credit risk.

The following paragraphs outline the Company’s position related to unrealized losses in its investment securities portfolio at June 30, 2015.

U.S. Government and government-sponsored enterprises. The unrealized losses on the Company’s U.S. Government and government-sponsored securities were caused by spread widening to the government curve. The Company does not expect these securities to settle at a price less than the par value of the securities.

U.S. Government and government-sponsored collateralized mortgage obligations and commercial mortgage- backed securities. The unrealized losses on the Company’s U.S. Government and government-sponsored collateralized debt obligations and commercial mortgage backed securities were caused by the pickup of prepayment speeds given the overall drop in the government curve over the period, which encouraged further refinancing. The Company monitors this risk, and therefore, strives to minimize premiums within this security class. The Company does not expect these securities to settle at a price less than the par value of the securities.

Asset-backed securities. The unrealized losses on the Company’s asset-backed securities were largely driven by increases in the spreads of the respective sectors’ asset classes over comparable securities. The majority of these securities have resetting coupons that adjust on a quarterly basis and the market spreads on similar securities have increased. Based on the credit profiles and asset qualities of the individual securities, management does not believe that the securities have suffered from any credit related losses. The Company does not expect these securities to settle at a price less than the par value of the securities. 

Corporate debt securities. The unrealized losses on corporate debt securities is primarily related to one pooled trust preferred security, Preferred Term Security XXVIII, Ltd (“PRETSL XXVIII”). The unrealized loss on this security is caused by the low interest rate environment, as the security reprices quarterly to the three month LIBOR and market spreads on similar newly issued securities have increased. No loss of principal or break in yield is projected. Based on the existing credit profile, management does not believe that this security has suffered from any credit related losses. The unrealized loss on the remainder of the corporate credit portfolio has been driven primarily by a rising yield curve and overall wider credit spreads.

Obligations of states and political subdivisions. The unrealized loss on obligations of states and political subdivisions relates to several securities, with no geographic concentration. The unrealized loss was largely due to a shift in the credit spreads of the long end of the municipal bond spread curve that resulted in a negative impact to the respective bonds’ pricing, relative to the time of purchase.

The Company will continue to review its entire portfolio for other-than-temporarily impaired securities with additional attention being given to high risk securities such as the one pooled trust preferred security that the Company owns.

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Note 4. Loans Receivable and Allowance for Loan Losses

A summary of the Company’s loan portfolio is as follows:

(In thousands)	At June 30, 2015			At December 31, 2014
Real estate loans:
Residential	$	1,501,813		$	1,413,739
Commercial	1,763,751			1,678,936
Construction	166,768			185,843
Total real estate loans	3,432,332			3,278,518
Commercial business loans	634,529			613,596
Installment and collateral loans	5,206			5,752
Total loans	4,072,067			3,897,866
Net deferred loan costs and premiums	5,559			4,006
Allowance for loan losses	(28,856		)	(24,809		)
Loans - net	$	4,048,770		$	3,877,063

Acquired Loans

Gross loans acquired from the Legacy United merger on April 30, 2014 totaled $1.88 billion. Acquired performing loans totaled $1.86 billion with a fair value of $1.83 billion. Loans acquired and determined to be impaired totaled $18.5 million.

The impaired loans are accounted for in accordance with Accounting Standards Codification (“ASC”) Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310-30”). At June 30, 2015, the net recorded carrying amount of loans accounted for under ASC 310-30 was $7.9 million and the aggregate outstanding principal balance was $12.8 million.

Information about the acquired loan portfolio subject to Purchased Credit Impaired (“PCI”) accounting guidance (ASC 310-30) as of April 30, 2014 is as follows:

(In thousands)
	April 30, 2014
Contractually required principal and interest at acquisition	$	18,540
Contractual cash flows not expected to be collected (nonaccretable)	(6,415		)
Expected cash flows at acquisition (1)	12,125
Interest component of expected cash flows (accretable)	(2,235		)
Fair value of acquired PCI loans	$	9,890

(1) Prepayments were not factored into the expected cash flows

The following table summarizes the activity in the the accretable yield balance for PCI loans for the three and six months ended June 30, 2015:

(In thousands)	For the Three Months   Ended June 30,						For the Six Months   Ended June 30,
	2015			2014			2015			2014
Balance at beginning of period	$	(708	)	$	—		$	(1,587	)	$	—
Acquisition	—			(2,235		)	—			(2,235		)
Accretion	78			327			177			327
Reclassification to nonaccretable balance	60			—			840			—
Balance at end of period	$	(570	)	$	(1,908	)	$	(570	)	$	(1,908	)

A reclassification of $840,000 from the accretable balance to the nonaccretable balance occurred during the six months ended June 30, 2015 due to the impact on the accretable marks caused by reductions in expected cash flows for the ASC 310-30 loans.

15

Allowance for Loan Losses

Management has established a methodology to determine the adequacy of the allowance for loan losses that assesses the risks and losses inherent in the loan portfolio. The allowance for loan losses is established as embedded losses are estimated to have occurred through the provisions for losses charged against operations and is maintained at a level that management considers adequate to absorb losses in the loan portfolio. Management’s judgment in determining the adequacy of the allowance is inherently subjective and is based on past loan loss experience, known and inherent losses and size of the loan portfolios, an assessment of current economic and real estate market conditions, estimates of the current value of underlying collateral, review of regulatory authority examination reports and other relevant factors. An allowance is maintained for impaired loans to reflect the difference, if any, between the carrying value of the loan and the present value of the projected cash flows, observable fair value or collateral value. Loans are charged-off against the allowance for loan losses when management believes that the uncollectibility of principal is confirmed. Any subsequent recoveries are credited to the allowance for loan losses when received. In connection with the determination of the allowance for loan losses, management obtains independent appraisals for significant properties, when considered necessary.

The allowance for loan losses is maintained at a level estimated by management to provide for probable losses inherent within the loan portfolio. Probable losses are estimated based upon a quarterly review of the loan portfolio, which includes historic default and loss experience, specific problem loans, risk rating profile, economic conditions and other pertinent factors which, in management’s judgment, warrant current recognition in the loss estimation process.

The adequacy of the allowance for loan losses is subject to considerable assumptions and judgment used in its determination. Therefore, actual losses could differ materially from management’s estimate if actual conditions differ significantly from the assumptions utilized. These conditions include economic factors in the Company’s market and nationally, industry trends and concentrations, real estate values and trends, and the financial condition and performance of individual borrowers.

The Company’s general practice is to identify problem credits early and recognize full or partial charge-offs as promptly as practicable when it is determined that the collection of loan principal is unlikely. The Company recognizes full or partial charge-offs on collateral dependent impaired loans when the collateral is deemed to be insufficient to support the carrying value of the loan. The Company does not recognize a recovery when an updated appraisal indicates a subsequent increase in value.

At June 30, 2015, the Company had a loan loss allowance of $28.9 million, or 0.71%, of total loans as compared to a loan loss allowance of $24.8 million, or 0.64%, of total loans at December 31, 2014. Management believes that the allowance for loan losses is adequate and consistent with asset quality indicators and that it represents the best estimate of probable losses inherent in the loan portfolio.

There are three components for the allowance for loan loss calculation:

General component

The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the loan segments. Management uses a rolling average of historical losses based on a three-year loss history to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels and trends in delinquencies; level and trend of charge-offs and recoveries; trends in volume and types of loans; effects of changes in risk selection and underwriting standards, changes in risk selection and underwriting standards; experience and depth of lending weighted average risk rating; and national and local economic trends and conditions.

The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows:

Residential real estate – The Bank establishes maximum loan-to-value and debt-to-income ratios and minimum credit scores as an integral component of the underwriting criteria. Loans in these segments are collateralized by owner-occupied residential real estate and repayment is dependent on the income and credit quality of the individual borrower. Within the qualitative allowance factors, national and local economic trends including unemployment rates and potential declines in property value, are key elements reviewed as a component of establishing the appropriate allocation. Overall economic conditions, unemployment rates and housing price trends will influence the underlying credit quality of these segments.

Commercial real estate – Loans in this segment are primarily income-producing properties throughout Connecticut, western Massachusetts, and other select markets in the Northeast. The underlying cash flows generated by the properties could be adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Management obtains rent rolls annually, continually monitors the cash flows of these loans and performs stress testing.

16

Construction loans – Loans in this segment primarily include commercial real estate development and residential subdivision loans for which payment is derived from the sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions.

Commercial business loans – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy and its effect on business profitability and cash flow could have an effect on the credit quality in this segment.

Installment and collateral loans– Loans in this segment are generally unsecured and repayment is dependent on the credit quality of the individual borrower.

For acquired loans accounted for under ASC 310-30, our allowance for loan losses is estimated based upon our expected cash flows for these loans. To the extent that we experience a deterioration in borrower credit quality resulting in a decrease in our expected cash flows subsequent to the acquisition of the loans, an allowance for loan losses would be established based on our estimate of future credit losses over the remaining life of the loans, in excess of any existing purchase accounting discounts.

Allocated component

The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for commercial, commercial real estate and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Residential and installment and collateral loans are evaluated for impairment if payments are 90 days or more delinquent. Updated property evaluations are obtained at time of impairment and serve as the basis for the loss allocation if foreclosure is probable or the loan is collateral dependent.

A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed.

When a loan is determined to be impaired the Company makes a determination if the repayment of the obligation is collateral dependent. As a majority of impaired loans are collateralized by real estate, appraisals on the underlying value of the property securing the obligation are utilized in determining the specific impairment amount that is allocated to the loan as a component of the allowance calculation. If the loan is collateral dependent, an updated appraisal is obtained within a short period of time from the date the loan is determined to be impaired; typically no longer than 30 days for a residential property and 90 days for a commercial real estate property. The appraisal and the appraised value are reviewed for adequacy and then further discounted for estimated disposition costs and the period of time until resolution, in order to determine the impairment amount. The Company updates the appraised value at least annually and on a more frequent basis if current market factors indicate a potential change in valuation.

The majority of the Company’s loans are collateralized by real estate located in central and eastern Connecticut and western Massachusetts in addition to a portion of the commercial real estate loan portfolio located in the Northeast region of the United States. Accordingly, the collateral value of a substantial portion of the Company’s loan portfolio and real estate acquired through foreclosure is susceptible to changes in market conditions in these areas.

Unallocated component

An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio.

Credit Quality Information

The Company utilizes a nine-grade internal loan rating system for residential and commercial real estate, construction, commercial and installment and collateral loans as follows:

Loans rated 1 – 5: Loans in these categories are considered “pass” rated loans with low to average risk.

17

Loans rated 6: Loans in this category are considered “special mention.” These loans reflect signs of potential weakness and are being closely monitored by management.

Loans rated 7: Loans in this category are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor and there is a distinct possibility that the Company will sustain some loss if the weakness is not corrected.

Loans rated 8: Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable.

Loans rated 9: Loans in this category are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted.

At the time of loan origination, a risk rating based on this nine point grading system is assigned to each loan based on the loan officer’s assessment of risk. For residential real estate and installment and collateral loans, the Company considers factors such as updated FICO scores, employment status, home prices, loan to value and geography. Residential real estate and installment loans are pass rated unless their payment history reveals signs of deterioration, which may result in modifications to the original contractual terms. In situations which require modification to the loan terms, the internal loan grade will typically be reduced to substandard. More complex loans, such as commercial business loans and commercial real estate loans require that our internal credit area further evaluate the risk rating of the individual loan, with the credit area and Chief Credit Officer having final determination of the appropriate risk rating. These more complex loans and relationships receive an in-depth analysis and periodic review to assess the appropriate risk rating on a post-closing basis with changes made to the risk rating as the borrower’s and economic conditions warrant. The credit quality of the Company’s loan portfolio is reviewed by a third-party risk assessment firm on a quarterly basis and by the Company’s internal credit management function. The internal and external analysis of the loan portfolio is utilized to identify and quantify loans with higher than normal risk. Loans having a higher risk profile are assigned a risk rating corresponding to the level of weakness identified in the loan. All loans risk rated Special Mention, Substandard or Doubtful are reviewed by management not less than on a quarterly basis to assess the level of risk and to ensure that appropriate actions are being taken to minimize potential loss exposure. Loans identified as being loss are normally fully charged off.

The following table presents the Company’s loans by risk rating at June 30, 2015 and December 31, 2014:

(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial Business		Installment and Collateral
June 30, 2015
Loans rated 1-5	$	1,481,643	$	1,681,958	$	153,613	$	604,442	$	5,175
Loans rated 6	1,452		45,606		7,739		11,654		—
Loans rated 7	18,718		36,187		5,416		18,384		31
Loans rated 8	—		—		—		49		—
Loans rated 9	—		—		—		—		—
	$	1,501,813	$	1,763,751	$	166,768	$	634,529	$	5,206
December 31, 2014
Loans rated 1-5	$	1,396,866	$	1,606,420	$	174,629	$	570,808	$	5,488
Loans rated 6	1,981		28,616		4,652		21,589		—
Loans rated 7	14,892		43,900		6,562		21,154		264
Loans rated 8	—		—		—		45		—
Loans rated 9	—		—		—		—		—
	$	1,413,739	$	1,678,936	$	185,843	$	613,596	$	5,752

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Activity in the allowance for loan losses for the periods ended June 30, 2015 and 2014 were as follows:

(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial Business			Installment and Collateral			Unallocated			Total
Three Months Ended June 30, 2015
Balance, beginning of period	$	8,189		$	10,119		$	1,463		$	4,891		$	34		$	601		$	25,297
Provision (credit) for loan losses	1,093			1,953			562			876			129			(151		)	4,462
Loans charged off	(327		)	(114		)	(62		)	(730		)	(83		)	—			(1,316		)
Recoveries of loans previously charged off	92			—			—			297			24			—			413
Balance, end of period	$	9,047		$	11,958		$	1,963		$	5,334		$	104		$	450		$	28,856
Three Months Ended June 30, 2014
Balance, beginning of period	$	6,491		$	8,554		$	622		$	3,442		$	26		$	365		$	19,500
Provision (credit) for loan losses	735			(688		)	242			1,777			8			6			2,080
Loans charged off	(316		)	—			—			(51		)	(16		)	—			(383		)
Recoveries of loans previously charged off	90			—			—			49			7			—			146
Balance, end of period	$	7,000		$	7,866		$	864		$	5,217		$	25		$	371		$	21,343
Six Months Ended June 30, 2015
Balance, beginning of period	$	7,927		$	9,418		$	1,470		$	5,808		$	75		$	111		$	24,809
Provision (credit) for loan losses	1,510			3,030			995			(39		)	138			339			5,973
Loans charged off	(551		)	(622		)	(502		)	(953		)	(169		)	—			(2,797		)
Recoveries of loans previously charged off	161			132			—			518			60			—			871
Balance, end of period	$	9,047		$	11,958		$	1,963		$	5,334		$	104		$	450		$	28,856
Six Months Ended June 30, 2014
Balance, beginning of period	$	6,396		$	8,288		$	829		$	3,394		$	29		$	247		$	19,183
Provision (credit) for loan losses	991			(422		)	35			1,801			1			124			2,530
Loans charged off	(495		)	—			—			(51		)	(20		)	—			(566		)
Recoveries of loans previously charged off	108			—			—			73			15			—			196
Balance, end of period	$	7,000		$	7,866		$	864		$	5,217		$	25		$	371		$	21,343

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Further information pertaining to the allowance for loan losses and impaired loans at June 30, 2015 and December 31, 2014 follows:

(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial Business		Installment and Collateral		Unallocated		Total
June 30, 2015
Allowance related to loans individually evaluated and deemed impaired	$	24	$	22	$	36	$	5	$	—	$	—	$	87
Allowance related to loans collectively evaluated and not deemed impaired	9,023		11,936		1,927		5,329		104		450		28,769
Allowance related to loans acquired with deteriorated credit quality	—		—		—		—		—		—		—
Total allowance for loan losses	$	9,047	$	11,958	$	1,963	$	5,334	$	104	$	450	$	28,856
Loans deemed impaired	$	18,138	$	17,525	$	3,733	$	6,934	$	28	$	—	$	46,358
Loans not deemed impaired	1,483,675		1,742,052		161,004		626,015		5,178		—		4,017,924
Loans acquired with deteriorated credit quality	—		4,174		2,031		1,580		—		—		7,785
Total loans	$	1,501,813	$	1,763,751	$	166,768	$	634,529	$	5,206	$	—	$	4,072,067
December 31, 2014
Allowance related to loans individually evaluated and deemed impaired	$	28	$	316	$	33	$	882	$	—	$	—	$	1,259
Allowance related to loans collectively evaluated and not deemed impaired	7,899		9,102		1,437		4,710		75		111		23,334
Allowance related to loans acquired with deteriorated credit quality	—		—		—		216		—		—		216
Total allowance for loan losses	$	7,927	$	9,418	$	1,470	$	5,808	$	75	$	111	$	24,809
Loans deemed impaired	$	15,981	$	19,514	$	2,610	$	5,846	$	46	$	—	$	43,997
Loans not deemed impaired	1,397,758		1,654,917		180,548		604,055		5,706		—		3,842,984
Loans acquired with deteriorated credit quality	—		4,505		2,685		3,695		—		—		10,885
Total loans	$	1,413,739	$	1,678,936	$	185,843	$	613,596	$	5,752	$	—	$	3,897,866

Management has established the allowance for loan loss in accordance with GAAP at June 30, 2015 based on the current risk assessment and level of loss that is believed to exist within the portfolio. This level of reserve is deemed an appropriate estimate of probable loan losses inherent in the loan portfolio as of June 30, 2015 based upon the analysis conducted and given the portfolio composition, delinquencies, charge offs and risk rating changes experienced during the first six months of 2015 and the three-year evaluation period utilized in the analysis. Based on the qualitative assessment of the portfolio and in thorough consideration of non-performing loans, management believes that the allowance for loan losses properly supports the level of associated loss and risk.

20

The following is a summary of past due and non-accrual loans at June 30, 2015 and December 31, 2014, including purchased credit impaired loans:

(In thousands)	30-59 Days Past Due		60-89 Days Past Due		Past Due 90 Days or More		Total Past Due		Past Due 90 Days or More and Still Accruing		Loans on Non-accrual
June 30, 2015
Real estate loans:
Residential	$	1,994	$	2,223	$	7,835	$	12,052	$	307	$	16,996
Commercial	2,323		2,762		7,510		12,595		474		11,159
Construction	—		—		681		681		—		1,536
Commercial business loans	3,329		498		4,608		8,435		49		5,655
Installment and collateral	14		6		9		29		—		28
Total	$	7,660	$	5,489	$	20,643	$	33,792	$	830	$	35,374
December 31, 2014
Real estate loans:
Residential	$	18,913	$	3,954	$	7,320	$	30,187	$	—	$	13,972
Commercial	7,734		3,967		9,509		21,210		2,361		12,514
Construction	1,403		227		695		2,325		84		611
Commercial business loans	2,782		3,812		7,486		14,080		2,307		5,217
Installment and collateral	34		—		12		46		—		44
Total	$	30,866	$	11,960	$	25,022	$	67,848	$	4,752	$	32,358

At June 30, 2015, loans reported as past due 90 days or more and still accruing represent Legacy United purchased credit impaired loans, for which an accretable fair value interest mark is being recognized. Additionally, there were certain loans evaluated by management and maintained on accrual status based on an evaluation of the borrower. At December 31, 2014, there was a U.S. Government fully guaranteed loan reported as past due 90 days or more and still accruing in addition to accruing purchased credit impaired loans.

The following is a summary of impaired loans with and without a valuation allowance as of June 30, 2015 and December 31, 2014:

	June 30, 2015						December 31, 2014
(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
Impaired loans without a valuation allowance:
Real estate loans:
Residential	$	17,102	$	22,771	$	—	$	15,233	$	17,143	$	—
Commercial	16,870		22,077		—		18,408		21,202		—
Construction	3,548		2,482		—		2,384		2,441		—
Commercial business loans	6,554		17,052		—		3,804		6,129		—
Installment and collateral loans	28		41		—		46		34		—
Total	44,102		64,423		—		39,875		46,949		—
Impaired loans with a valuation allowance:
Real estate loans:
Residential	$	1,036	$	1,050	$	24	$	748	$	892	$	28
Commercial	655		655		22		1,106		1,271		316
Construction	185		185		36		226		226		33
Commercial business loans	380		475		5		2,042		2,098		882
Total	2,256		2,365		87		4,122		4,487		1,259
Total impaired loans	$	46,358	$	66,788	$	87	$	43,997	$	51,436	$	1,259

21

The following is a summary of average recorded investment in impaired loans with and without a valuation allowance and interest income recognized on those loans for the three and six months ended June 30, 2015 and 2014:

	For the Three Months   Ended June 30, 2015							For the Three Months   Ended June 30, 2014
(In thousands)	Average Recorded Investment		Interest Income Recognized			Interest Income Recognized on a Cash Basis		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized on a Cash Basis
Impaired loans without a valuation allowance:
Real estate loans:
Residential	$	16,703	$	222		$	176	$	9,677	$	92	$	77
Commercial	17,707		243			144		7,747		21		19
Construction	3,638		(3		)	19		2,809		19		13
Commercial business loans	6,557		236			110		1,210		7		6
Installment and collateral loans	29		1			1		36		—		—
Total	44,634		699			450		21,479		139		115
Impaired loans with a valuation allowance:
Real estate loans:
Residential	518		24			—		1,551		31		13
Commercial	534		2			—		—		—		—
Construction	185		13			—		—		—		—
Commercial business loans	581		(5		)	2		1,305		1		—
Total	1,818		34			2		2,856		32		13
	$	46,452	$	733		$	452	$	24,335	$	171	$	128
	For the Six Months   Ended June 30, 2015							For the Six Months   Ended June 30, 2014
(In thousands)	Average Recorded Investment		Interest Income Recognized			Interest Income Recognized on a Cash Basis		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized on a Cash Basis
Impaired loans without a valuation allowance:
Real estate loans:
Residential	$	16,213	$	398		$	326	$	9,781	$	179	$	164
Commercial	17,941		534			343		7,646		62		60
Construction	3,220		45			20		2,752		34		28
Commercial business loans	5,639		299			152		1,281		19		18
Installment and collateral loans	35		1			1		33		1		—
Total	43,048		1,277			842		21,493		295		270
Impaired loans with a valuation allowance:
Real estate loans:
Residential	595		24			—		1,235		57		36
Commercial	724		7			—		—		—		—
Construction	199		13			—		—		—		—
Commercial business loans	1,068		12			8		870		6		5
Total	2,586		56			8		2,105		63		41
	$	45,634	$	1,333		$	850	$	23,598	$	358	$	311

At June 30, 2015, the Company had impaired loans that had $1.2 million committed to be advanced.

22

Troubled Debt Restructurings

The restructuring of a loan is considered a troubled debt restructuring (“TDR”) if both (i) the restructuring constitutes a concession by the creditor and (ii) the debtor is experiencing financial difficulties. A TDR may include (i) a transfer from the debtor to the creditor of receivables from third parties, real estate, or other assets to satisfy fully or partially a debt, (ii) issuance or other granting of an equity interest to the creditor by the debtor to satisfy fully or partially a debt unless the equity interest is granted pursuant to existing terms for converting debt into an equity interest, and (iii) modifications of terms of a debt.

The following table provides detail of TDR balances for the periods presented:

(In thousands)	At June 30, 2015		At December 31, 2014
Recorded investment in TDRs:
Accrual status	$	10,985	$	11,638
Non-accrual status	5,346		4,169
Total recorded investment in TDRs	$	16,331	$	15,807
Accruing TDRs performing under modified terms more than one year	$	5,153	$	1,919
Specific reserves for TDRs included in the balance of allowance for loan losses	$	87	$	380
Additional funds committed to borrowers in TDR status	$	44	$	210

Loans restructured as TDRs during the three and six months ended June 30, 2015 and 2014 are set forth in the following table:

	Three Months Ended					Six Months Ended
(Dollars in thousands)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
June 30, 2015
Residential real estate	16	$	2,577	$	2,574	17	$	2,652	$	2,649
Commercial real estate	2	791		791		2	791		791
Construction	2	564		564		2	564		564
Commercial business	1	548		548		2	748		748
Installment and collateral	—	—		—		—	—		—
Total troubled debt restructuring	21	$	4,480	$	4,477	23	$	4,755	$	4,752
June 30, 2014
Residential real estate	2	$	1,004	$	1,004	6	$	1,412	$	1,412
Commercial real estate	1	282		282		1	282		282
Construction	—	—		—		13	3,853		3,853
Commercial business	—	—		—		—	—		—
Installment and collateral	—	—		—		—	—		—
Total troubled debt restructuring	3	$	1,286	$	1,286	20	$	5,547	$	5,547

23

The following table provides information on loan balances modified as TDRs during the period:

	Three Months Ended June 30,
	2015										2014
(In thousands)	Extended Maturity		Adjusted Interest Rates		Adjusted Rate and Extended Maturity		Payment Deferral		Other		Extended Maturity		Adjusted Interest Rates		Payment Deferral		Other
Residential real estate	$	—	$	901	$	269	$	814	$	593	$	—	$	884	$	—	$	120
Commercial real estate	538		—		253		—		—		—		282		—		—
Construction	564		—		—		—		—		—		—		—		—
Commercial business	548		—		—		—		—		—		—		—		—
	$	1,650	$	901	$	522	$	814	$	593	$	—	$	1,166	$	—	$	120
	Six Months Ended June 30,
	2015										2014
(In thousands)	Extended Maturity		Adjusted Interest Rates		Adjusted Rate and Extended Maturity		Payment Deferral		Other		Extended Maturity		Adjusted Interest Rates		Payment Deferral		Other
Residential real estate	$	—	$	901	$	344	$	814	$	593	$	—	$	884	$	—	$	528
Commercial real estate	538		—		253		—		—		—		282		—		—
Construction	564		—		—		—		—		3,672		—		—		181
Commercial business	748		—		—		—		—		—		—		—		—
	$	1,850	$	901	$	597	$	814	$	593	$	3,672	$	1,166	—		$	709

The following table provides information on loans modified as TDRs within the previous 12 months and for which there was a payment default during the periods presented:

	Six Months Ended			Six Months Ended
	June 30, 2015			June 30, 2014
(Dollars in thousands)	Number of Loans and Leases	Recorded Investment		Number of Loans and Leases	Recorded Investment
Residential real estate	3	$	591	—	$	—
Commercial real estate	6	2,113		—	—
Commercial business	—	—		1	2,610
	9	$	2,704	1	$	2,610

The majority of restructured loans were on accrual status as of June 30, 2015 and December 31, 2014. The financial impact of TDR loans has been minimal to date. Typically, residential loans are restructured with a modification and extension of the loan amortization and maturity at substantially the same interest rate as contained in the original credit extension. As part of the troubled debt restructuring process, the current value of the property is compared to the general ledger loan balance and if not fully supported, a write down is processed through the allowance for loan losses. Commercial real estate loans, commercial construction loans and commercial business loans also contain payment modification agreements and a like assessment of the underlying collateral value if the borrower’s cash flow may be inadequate to service the entire obligation.

Loan Servicing

The Company services certain loans for third parties. The aggregate balance of loans serviced for others was $676.2 million and $559.1 million as of June 30, 2015 and December 31, 2014, respectively. The balances of these loans are not included on the accompanying Consolidated Statements of Condition.

The risks inherent in mortgage servicing rights relate primarily to changes in prepayments that result from shifts in mortgage interest rates. The fair value of mortgage servicing rights at June 30, 2015 and December 31, 2014 was determined using pretax internal rates of return ranging from 8.4% to 10.5% and the Public Securities Association Standard Prepayment

24

model to estimate prepayments on the portfolio with an average prepayment speed of 181 and 187, respectively. The fair value of mortgage servicing rights is obtained from a third party provider.

During the three and six months ended June 30, 2015, the Company received servicing income in the amount of $189,000 and $490,000, respectively, which compares to $256,000 and $496,000 for the same respective periods of 2014. This income is included in income from mortgage banking activities in the Consolidated Statements of Operations.

Mortgage servicing rights are included in other assets on the Consolidated Statements of Condition. The following table summarizes mortgage servicing rights activity for the three and six months ended June 30, 2015 and 2014. Changes in the fair value of mortgage servicing rights are included in income from mortgage banking activities in the Consolidated Statements of Operations.

	For the Three Months   Ended June 30,					For the Six Months   Ended June 30,
(In thousands)	2015		2014			2015		2014
Mortgage servicing rights:
Balance at beginning of period	$	4,921	$	4,084		$	4,729	$	4,103
Addition of Legacy United MSRs	—		764			—		764
Change in fair value recognized in net income (loss)	385		(478		)	—		(631		)
Issuances	688		184			1,265		318
Fair value of mortgage servicing rights at end of period	$	5,994	$	4,554		$	5,994	$	4,554

Note 5. Merger

The Company acquired 100% of the outstanding common shares and completed its merger with Legacy United on April 30, 2014. Legacy United’s principal subsidiary was a federally chartered savings bank headquartered in West Springfield, Massachusetts, which operated 35 branch locations, two express drive-up branches, and two loan production offices, primarily in the Springfield and Worcester regions of Massachusetts and in Central Connecticut. The Company entered into the Merger agreement based on its assessment of the anticipated benefits, including enhanced market share and expansion of its banking franchise. The Merger was accounted for as a purchase and, as such, was included in our results of operations from the date of the Merger. The Merger was funded with shares of Rockville common stock and cash. As of the close of trading on April 30, 2014, all of the shareholders of Legacy United received 1.3472 shares of Rockville common stock for each share of Legacy United common stock owned at that date. Total consideration paid at closing was valued at $356.4 million, based on the closing price of $13.16 of Rockville common stock, the value of Legacy United exercisable options and cash paid for fractional shares on April 30, 2014.

The following table summarizes the Merger on April 30, 2014:

(Dollars and shares in thousands)
				Transaction Related Items
Legacy United				Goodwill		Other Identifiable Intangibles		Shares Issued	Value of Legacy United Exercisable Options		Total Purchase Price
Balance at April 30, 2014
Assets		Equity
$	2,442,525	$	304,505	$	114,195	$	10,585	26,706	$	4,909	$	356,394

The transaction was accounted for using the purchase method of accounting in accordance with FASB ASC Topic 805, Business Combinations. Accordingly, the purchase price was allocated based on the estimated fair market values of the assets and liabilities acquired. See the Company’s 2014 audited consolidated financial statements and notes thereto included in United Financial Bancorp, Inc.’s Annual Report on Form 10-K as of and for the year ended December 31, 2014 for additional information.

25

Note 6. Goodwill and Core Deposit Intangibles

The changes in the carrying amount of goodwill and core deposit intangible assets are summarized as follows:

(In thousands)	Goodwill		Core Deposit Intangibles
Balance at December 31, 2013	$	1,070	$	—
Acquisition of Legacy United	114,170		10,585
Amortization expense	—		(1,283		)
Balance at December 31, 2014	115,240		9,302
Adjustments	25		—
Amortization expense	—		(930		)
Balance at June 30, 2015	$	115,265	$	8,372
Estimated amortization expense for the years ending December 31,
2015 (remaining six months)			$	866
2016			1,604
2017			1,411
2018			1,219
2019			1,026
2020 and thereafter			2,246
Total remaining			$	8,372

The goodwill associated with the acquisition of Legacy United is not tax deductible. In accordance with ASC 350, Intangibles – Goodwill and Other, goodwill will not be amortized, but will be subject to at least an annual impairment test. The amortizing intangible asset associated with the acquisition consists of the core deposit intangible. The core deposit intangible is being amortized using the sum of the years’ digits method over its estimated life of 10 years. Amortization expense of the core deposit intangible was $449,000 and $930,000 for the three and six months ended June 30, 2015.

The core deposit intangible is summarized in the following table:

(In thousands)	Original Recorded Amount		Accumulated Amortization			Balance at June 30, 2015
Core deposit intangible	$	10,585	$	(2,213	)	$	8,372

Note 7. Borrowings

FHLBB Advances

The Bank is a member of the FHLBB. Contractual maturities and weighted-average rates of outstanding advances from the FHLBB as of June 30, 2015 and December 31, 2014 are summarized below:

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
2015	$	436,256	0.38	%	$	435,763	0.38	%
2016	78,649		0.77		19,714		1.53
2017	76,000		2.50		66,000		2.72
2018	41,291		1.66		16,784		2.19
2019 and thereafter	36,718		1.89		37,300		1.89
	$	668,914	0.83	%	$	575,561	0.84	%

26

The total carrying value of FHLBB advances at June 30, 2015 was $673.4 million, which includes a remaining fair value adjustment of $4.4 million on advances acquired in the Merger. At December 31, 2014, the total carrying value of FHLBB advances was $581.0 million, with a fair value adjustment of $5.4 million.

At June 30, 2015, eight advances totaling $41.0 million with interest rates ranging from 3.19% to 4.49%, which are scheduled to mature between 2017 and 2018, are callable by the FHLBB. Advances are collateralized by first mortgage loans and investment securities with an estimated eligible collateral value of $1.0 billion and $853.8 million at June 30, 2015 and December 31, 2014, respectively.

In addition to the outstanding advances, the Bank has access to an unused line of credit with the FHLBB amounting to $10.0 million at June 30, 2015 and December 31, 2014. In accordance with an agreement with the FHLBB, the qualified collateral must be free and clear of liens, pledges and have a discounted value equal to the aggregate amount of the line of credit and outstanding advances. At June 30, 2015, the Bank could borrow immediately an additional $298.5 million from the FHLBB, inclusive of the line of credit.

Other Borrowings

The following table presents other borrowings by category as of the dates indicated:

(Dollars in thousands)	June 30, 2015		December 31, 2014
Subordinated debentures	$	79,386	$	79,288
Wholesale repurchase agreements	35,000		69,242
Customer repurchase agreements	31,858		41,335
Other	6,364		6,476
Total other borrowings	$	152,608	$	196,341

Subordinated Debentures

At June 30, 2015 and December 31, 2014, the carrying value of the Company’s subordinated debentures totaled $79.4 million and $79.3 million, respectively.

On September 23, 2014, the Company closed its public offering of $75.0 million of its 5.75% Subordinated Notes due October 1, 2024 (the “Notes”). The Notes were offered to the public at par. Interest on the Notes is payable semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2015. Issuance costs totaled $1.3 million and are being amortized over the life of the Notes as a component of interest expense.

The Company assumed junior subordinated debt as a result of the Merger in 2014 in the form of trust preferred securities issued through a private placement offering with a face amount of $7.7 million. The Company recorded a fair value acquisition discount of $2.3 million on May 1, 2014. The remaining unamortized discount was $2.2 million at June 30, 2015. This issue has a maturity date of March 15, 2036 and bears a floating rate of interest that reprices quarterly at the 3-month LIBOR rate plus 1.85%. A special redemption provision allows the Company to redeem this issue at par on March 15, June 15, September 15, or December 15 of any year subsequent to March 15, 2011.

27

Repurchase Agreements

The following table presents the Company’s outstanding borrowings under repurchase agreements as of June 30, 2015 and December 31, 2014:

	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight		Up to 1 Year		1 - 3 Years		Greater than 3 Years		Total
June 30, 2015
Repurchase Agreements
U.S. Treasury and agency securities	$	31,858	$	15,000	$	—	$	20,000	$	66,858
Total	$	31,858	$	15,000	$	—	$	20,000	$	66,858
December 31, 2014
Repurchase Agreements
U.S. Treasury and agency securities	$	41,335	$	49,242	$	—	$	20,000	$	110,577
Total	$	41,335	$	49,242	$	—	$	20,000	$	110,577

As of June 30, 2015 and December 31, 2014, advances outstanding under wholesale reverse repurchase agreements totaled $35.0 million and $69.2 million, respectively. The outstanding advances at June 30, 2015 consisted of three individual borrowings with remaining terms of four years or less and a weighted average cost of 1.73%. The outstanding advances at December 31, 2014 had a weighted average cost of 1.07%. The Company pledged investment securities with a market value of $40.5 million and $78.5 million as collateral for these borrowings at June 30, 2015 and December 31, 2014, respectively.

Retail repurchase agreements primarily consist of transactions with commercial and municipal customers, are for a term of one day and are backed by the purchasers’ interest in certain U.S. Government Agency securities or government-sponsored securities. As of June 30, 2015 and December 31, 2014, retail repurchase agreements totaled $31.9 million and $41.3 million, respectively. The Company pledged investment securities with a market value of $39.0 million and $50.8 million as collateral for these borrowings at June 30, 2015 and December 31, 2014, respectively.

Given that the repurchase agreements are secured by investment securities, valued at market value, the collateral position is susceptible to change based upon variation in the market vale of the securities that can arise due to fluctuations in interest rates, among other things. In the event that the interest rate changes result in a decrease in the value of the pledged securities, additional securities will be required to be pledged in order to secure the borrowings. Due to the short term nature of the majority of the repurchase agreements, Management believes the risk of further encumbered securities pose a minimal impact to the Company’s liquidity position.

Other

Other borrowings consist of a secured borrowing and capital lease obligations. The secured borrowing relates to the transfer of a financial asset that did not meet the definition of a participating interest and did not meet sale accounting criteria; therefore, it is accounted for as secured borrowings and classified as long-term debt on the Consolidated Statements of Condition. The Company has capital lease obligations for three of its leased banking branches.

Other Sources of Wholesale Funding

The Bank has relationships with brokered sweep deposit providers by which funds are deposited by the counterparties at the Bank’s request. Amounts outstanding under these agreements are reported as interest-bearing deposits and totaled $121.7 million at a cost of 0.47% at June 30, 2015 and $111.8 million at a cost of 0.47% at December 31, 2014. The Bank maintains open dialogue with the brokered sweep providers and has the ability to increase the deposit balances upon request, up to certain limits based upon internal policy requirements.

Additionally, the Company has unused federal funds lines of credit with five counterparties totaling $122.5 million at June 30, 2015.

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Note 8. Derivatives and Hedging Activities

Risk Management Objective of Using Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposure to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. The Company also has interest rate derivatives that result from a service provided to certain qualifying customers. The Company manages a matched book with respect to these derivative instruments in order to minimize its net risk exposure resulting from such transactions.

Information about interest rate swap agreements and non-hedging derivative assets and liabilities as of June 30, 2015 and December 31, 2014 is as follows:

	Notional Amount		Weighted-Average Remaining Maturity	Weighted-Average Rate						Estimated Fair Value, Net Asset (Liability)
				Received			Paid
	(In thousands)		(In years)							(In thousands)
June 30, 2015
Cash flow hedges:
Forward starting interest rate swaps on future borrowings	$	150,000	6.34	TBD		(1)	2.45	%		$	(1,599	)
Interest rate swaps	25,000		1.92	0.26	%		0.90	%		(33		)
Fair value hedges:
Interest rate swaps	35,000		2.23	1.04	%		0.25	%	(2)	83
Non-hedging derivatives:
Forward loan sale commitments	38,188		0.00							62
Derivative loan commitments	16,138		0.00							237
Loan level swaps - dealer(3)	181,730		8.21	1.85	%		4.05	%		(5,396		)
Loan level swaps - borrowers(3)	181,730		8.21	4.05	%		1.85	%		5,512
Total	$	627,786								$	(1,134	)
December 31, 2014
Cash flow hedges:
Forward starting interest rate swaps on future borrowings	$	150,000	6.34	TBD		(1)	2.45	%		$	(1,069	)
Interest rate swaps	25,000		2.41	0.23	%		0.90	%		72
Fair value hedges:
Interest rate swaps	35,000		2.72	1.04	%		0.24	%	(2)	(82		)
Non-hedging derivatives:
Forward loan sale commitments	14,091		0.00							(14		)
Derivative loan commitments	8,839		0.00							213
Loan level swaps - dealer(3)	86,446		8.69	1.98	%		4.34	%		(3,816		)
Loan level swaps - borrowers(3)	86,446		8.69	4.34	%		1.98	%		3,678
Total	$	405,822								$	(1,018	)

(1) The receiver leg of the cash flow hedges is floating rate and indexed to the 3-month USD-LIBOR-BBA, as determined two London banking days prior to the first day of each calendar quarter, commencing with the earliest effective trade. The earliest effective trade date for the cash flow hedges is July 1, 2015.

(2) The paying leg is one month LIBOR plus a fixed spread; above rate in effect as of the date indicated.

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(3) The Company offers a loan level hedging product to qualifying commercial borrowers that seek to mitigate risk to rising interest rates. As such, the Company enters into equal and offsetting trades with dealer counterparties.

Cash Flow Hedges of Interest Rate Risk

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.

The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the three and six months ended June 30, 2015, the Company did not record any hedge ineffectiveness.

Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. The Company expects to reclassify $1.5 million from accumulated other comprehensive loss to interest expense during the next 12 months.

The Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of 36 months (excluding forecasted transactions related to the payment of variable interest on existing financial instruments).

As of June 30, 2015, the Company had six outstanding interest rate derivatives with a notional value of $175.0 million that were designated as cash flow hedges of interest rate risk.

Fair Value Hedges of Interest Rate Risk

The Company is exposed to changes in the fair value of certain of its fixed rate obligations due to changes in benchmark interest rates. The Company uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the benchmark interest rate. Interest rate swaps designated as fair value hedges involve the receipt of fixed-rate amounts from a counterparty in exchange for the Company making variable rate payments over the life of the agreements without the exchange of the underlying notional amount.

For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting gain or loss on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged items in the same line item as the offsetting gain or loss on the related derivatives. For the three and six months ended June 30, 2015, the Company recognized a negligible net reduction to interest expense. For the three months ended June 30, 2014, the Company recognized a negligible net reduction to interest expense related to net settlements. For the six months ended June 30, 2014 the Company recognized a net reduction to interest expense related to net settlements of $23,000. Amounts recognized as interest expense related to hedge ineffectiveness were negligible.

As of June 30, 2015, the Company had three outstanding interest rate derivatives with a notional amount of $35.0 million that were designated as a fair value hedge of interest rate risk.

Non-Designated Hedges

Qualifying derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers, which the Company implemented during the second quarter of 2013. The Company executes interest rate derivatives with commercial banking customers to facilitate their respective risk management strategies. Those interest rate derivatives are simultaneously hedged by offsetting derivatives that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate derivatives associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings.

As of June 30, 2015, the Company had 28 borrower-facing interest rate derivatives with an aggregate notional amount of $181.7 million and 28 broker derivatives with an aggregate notional value amount of $181.7 million related to this program.

As of June 30, 2015 the Company had two risk participation agreements with two counterparties related to a loan level interest rate swap with two of its commercial banking customers. These agreements were entered into in conjunction with credit enhancements provided to the borrowers by the counterparties. Therefore, if the borrowers default, the counterparties are responsible for a percentage of the exposure. This risk participation agreements are a guarantee of performance on a derivative

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and accordingly, are recorded at fair value on the Company’s Consolidated Statements of Financial Condition. At June 30, 2015, the notional amount of the risk participation agreements was $6.8 million, reflecting the counterparty participation level of 46.9%.

Derivative Loan Commitments

Additionally, the Company enters into mortgage loan commitments that are also referred to as derivative loan commitments if the loan that will result from exercise of the commitment will be held for sale upon funding. The Company enters into commitments to fund residential mortgage loans at specified rates and times in the future, with the intention that these loans will subsequently be sold in the secondary market.

Outstanding derivative loan commitments expose the Company to the risk that the price of the loans arising from exercise of the loan commitment might decline from inception of the rate lock to funding of the loan due to increases in mortgage interest rates. If interest rates increase, the value of these loan commitments decreases. Conversely, if interest rates decrease, the value of these loan commitments increases.

Forward Loan Sale Commitments

To protect against the price risk inherent in derivative loan commitments, the Company utilizes both “mandatory delivery” and “best efforts” forward loan sale commitments to mitigate the risk of potential decreases in the values of loans that would result from the exercise of the derivative loan commitments.

With a “mandatory delivery” contract, the Company commits to deliver a certain principal amount of mortgage loans to an investor at a specified price on or before a specified date. If the Company fails to deliver the amount of mortgages necessary to fulfill the commitment by the specified date, it is obligated to pay a “pair-off” fee, based on then-current market prices, to the investor to compensate the investor for the shortfall.

With a “best efforts” contract, the Company commits to deliver an individual mortgage loan of a specified principal amount and quality to an investor if the loan to the underlying borrower closes. Generally, the price the investor will pay the seller for an individual loan is specified prior to the loan being funded (e.g., on the same day the lender commits to lend funds to a potential borrower). The Company expects that these forward loan sale commitments will experience changes in fair value opposite to the change in fair value of derivative loan commitments.

Fair Values of Derivative Instruments on the Statement of Condition

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Condition as of June 30, 2015 and December 31, 2014:

	Derivative Assets					Derivative Liabilities
		Fair Value					Fair Value
(In thousands)	Balance Sheet Location	June 30 2015		Dec 31, 2014		Balance Sheet Location	June 30, 2015		Dec 31, 2014
Derivatives designated as hedging instruments:
Interest rate swap - cash flow hedge	Other Assets	$	46	$	140	Other Liabilities	$	1,678	$	1,137
Interest rate swap - fair value hedge	Other Assets	112		34		Other Liabilities	29		116
Total derivatives designated as hedging instruments		$	158	$	174		$	1,707	$	1,253
Derivatives not designated as hedging instruments:
Forward loan sale commitments	Other Assets	$	80	$	7	Other Liabilities	$	18	$	21
Derivative loan commitments	Other Assets	237		213			—		—
Interest rate swap - with customers	Other Assets	5,512		3,679			—		—
Interest rate swap - with counterparties		—		—		Other Liabilities	5,396		3,816
Total derivatives not designated as hedging		$	5,829	$	3,899		$	5,414	$	3,837

Effect of Derivative Instruments in the the Company’s Consolidated Statements of Net Operations and Changes in Stockholders’ Equity

The table below presents the effect of derivative instruments in the Company’s Statements of Changes in Stockholders’ Equity designated as hedging instruments for the three and six months ended June 30, 2015 and 2014:

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Cash Flow Hedges
	Amount of Gain (Loss) Recognized in AOCI (Effective Portion)
Derivatives Designated as Cash Flow Hedging Instruments	Three Months Ended June 30,					Six Months Ended June 30,
	2015		2014			2015			2014
(In thousands)
Interest rate swaps	$	2,715	$	(2,366	)	$	(623	)	$	(4,887	)

	Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Derivatives Designated as Cash Flow Hedging Instruments	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015			2014
(In thousands)
Interest rate swaps	$	—	$	—	$	(12	)	$	—

The tables below present information pertaining to the Company’s derivatives in the Consolidated Statements of Operations designated as hedging instruments for the three and six months ended June 30, 2015 and 2014:

Fair Value Hedges
		Amount of Gain (Loss) Recognized in Income for Derivatives
Derivatives Designated as Fair Value Hedging Instruments	Location of Gain (Loss) Recognized in Income	Three Months Ended June 30,						Six Months Ended June 30,
		2015			2014			2015			2014
(In thousands)
Interest Rate Swaps	Interest income	$	(37	)	$	128		$	166		$	159
		Amount of Gain (Loss) Recognized in Income for Hedged Items
		Three Months Ended June 30,						Six Months Ended June 30,
		2015			2014			2015			2014
Interest Rate Swaps	Interest income	$	38		$	(128	)	$	(167	)	$	(159	)

The table below presents information pertaining to the Company’s derivatives not designated as hedging instruments in the Consolidated Statements of Operations as of June 30, 2015 and 2014:

	Amount of Gain (Loss) Recognized in Income
	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2015			2014			2015		2014
Derivatives not designated as hedging instruments:
Derivative loan commitments	$	(485	)	$	340		$	24	$	585
Forward loan sale commitments	75			209			100		(227		)
Interest rate swaps	154			(104		)	227		(170		)
	$	(256	)	$	445		$	351	$	188

Credit-risk-related Contingent Features

The Company has agreements with each of its derivative counterparties that contain a provision where if the counterparty defaults on any of its indebtedness or fails to maintain a well-capitalized rating, then the counterparty could also be declared in default on its derivative obligations and could be required to terminate its derivative positions with the counterparty.

As of June 30, 2015, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $7.1 million. As of June 30, 2015, the Company has minimum collateral posting thresholds with certain of its derivative counterparties and has posted collateral of $5.0 million against its obligations under these agreements. A degree of netting occurs on occasions where the Company has exposure to a counterparty and the counterparty has exposure to the Company. If the Company had breached any of these provisions at June 30, 2015, it could have been required to settle its obligations under the agreements at the termination value and would have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparty.

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Note 9. Share-Based Compensation Plans

The Company maintains and operates the Rockville Financial, Inc. 2006 Stock Incentive Award Plan (the “2006 Plan”) as approved by the Company’s Board and stockholders. The 2006 Plan allows the Company to use stock options, stock awards, stock appreciation rights and performance awards to attract, retain and reward performance of qualified employees and others who contribute to the success of the Company. The 2006 Plan allows for maximum issuances of 530,587 restricted stock shares and 1,326,467 stock options. As of June 30, 2015, 16,319 restricted stock shares and 19,404 stock options remained available for future grants under the 2006 Plan.

The Company maintains and operates the Rockville Financial, Inc. 2012 Stock Incentive Plan (the “2012 Plan”) as approved by the Company’s Board and stockholders. The 2012 Plan allows the Company to use stock options, stock awards, and performance awards to attract, retain and reward performance of qualified employees and others who contribute to the success of the Company. The 2012 Plan allows for the issuance of a maximum of 684,395 restricted stock shares and 1,710,989 stock options. As of June 30, 2015, 43,168 restricted stock shares and 243,181 stock options remained available for future grants under the 2012 Plan.

In connection with the merger, the Company assumed the following Legacy United share-based compensation plans: (a) United Financial Bancorp, Inc. 2006 Stock-Based Incentive Plan, (b) United Financial Bancorp, Inc. 2008 Equity Incentive Plan, (c) CNB Financial Corp. 2008 Equity Incentive Plan, and (d) CNB Amended and Restated Stock Option Plan collectively referred to as “the Legacy United Stock Plans.” As of June 30, 2015, 375,494 shares remained available for future grants under the Legacy United Stock Plans.

For the six-month period ended June 30, 2015, total employee and Director share-based compensation expense recognized for stock options and restricted stock was $67,000 with a related tax benefit of $24,000 and $458,000 with a related tax benefit of $165,000, respectively. Of the total expense amount for the six-month period, the amount for Director share-based compensation expense recognized (in the Consolidated Statements of Operations as other non-interest expense) was $201,000, and the amount for officer share-based compensation expense recognized (in the Consolidated Statements of Operations as salaries and employee benefit expense) was $324,000. For the six-month period ended June 30, 2014, total employee and Director share-based compensation expense recognized for stock options and restricted stock was $1.3 million with a related tax benefit of $455,000 and $2.0 million with a related tax benefit of $704,000, respectively.

For the three-month period ended June 30, 2015, total employee and Director share-based compensation expense recognized for stock options and restricted stock was $28,000 with a related tax benefit of $10,000 and $230,000 with a related tax benefit of $83,000, respectively. Of the total expense amount for the three-month period, the amount for Director share-based compensation expense recognized (in the Consolidated Statements of Operations as other non-interest expense) was $95,000, and the amount for officer share-based compensation expense recognized (in the Consolidated Statements of Operations as salaries and employee benefit expense) was $163,000. For the three-month period ended June 30, 2014, total employee and Director share-based compensation expense recognized for stock options and restricted stock was $1.1 million with a related tax benefit of $385,000 and $1.7 million with a related tax benefit of $595,000, respectively.

The fair values of stock option and restricted stock awards, measured at grant date, are amortized to compensation expense on a straight-line basis over the vesting period. The Company accelerates the recognition of compensation costs for 2006 Plan share-based awards granted to retirement-eligible employees and Directors and employees and Directors who become retirement-eligible prior to full vesting of the award because the Company’s incentive compensation plans allow for full vesting at the time an employee or Director retires. Share-based compensation granted to non-retirement-eligible individuals pursuant to the 2006 Plan and share-based compensation granted to all individuals pursuant to the 2012 Plan are expensed over the normal vesting period as established by each plan.

Stock Options

The following table presents the activity related to stock options outstanding, including options that have stock appreciation rights (“SARs”), under the Plans for the six months ended June 30, 2015:

	Number of Stock Options		Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2014	3,390,469		$	10.70
Granted	—		—
Exercised	(454,031	)	9.11
Forfeited or expired	(45,797	)	13.57
Outstanding at June 30, 2015	2,890,641		$	10.90	5.8	$	7.4
Stock options vested and exercisable at June 30, 2015	2,665,842		$	10.67	5.5	$	7.4

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As of June 30, 2015, the unrecognized cost related to outstanding stock options was $405,000 and will be recognized over a weighted-average period of 3.1 years.

There were no stock options granted during the six months ended June 30, 2015. There were 397,095 stock options granted during the six months ended June 30, 2014.

Options exercised during the six months ended June 30, 2015 include awards that were originally granted as tandem SARs. Therefore, if the SAR component is exercised, it will not equate to the number of shares issued due to the conversion of the SAR option value to the actual share value at exercise date. Included in total options exercised during the six months ended June 30, 2015, were 398,302 SAR options which converted to 269,179 issued shares.

Restricted Stock

Restricted stock provides grantees with rights to shares of common stock upon completion of a service period. During the restriction period, all shares are considered outstanding and dividends are paid on the restricted stock. During the six months ended June 30, 2015, the Company issued 27,330 shares of restricted stock from shares available under the Company’s 2012 Plan to certain executives and directors. During the six months ended June 30, 2015, the weighted-average grant date fair value was $12.44 per share and the restricted stock awards vest in equal annual installments on the anniversary date over a 3 year period. The following table presents the activity for restricted stock for the six months ended June 30, 2015:

	Number of Shares		Weighted-Average Grant-Date Fair Value
Unvested as of December 31, 2014	124,536		$	13.66
Granted	27,330		12.44
Vested	(45,594	)	13.69
Forfeited	—		—
Unvested as of June 30, 2015	106,272		$	13.33

As of June 30, 2015, there was $1.1 million of total unrecognized compensation cost related to unvested restricted stock, which is expected to be recognized over a weighted-average period of 2.1 years.

Employee Stock Ownership Plan

In connection with its reorganization and stock offering completed in 2005, the Company established an Employee Stock Ownership Plan (“ESOP”) to provide substantially all employees of the Company the opportunity to also become shareholders. The ESOP borrowed $7.8 million from the Company to purchase 699,659 shares of common stock in the subscription offering and in the open market. This loan was paid in full at December 31, 2014. The 699,659 ESOP shares purchased in the initial reorganization in 2005 were exchanged for shares in the second-step conversion using an exchange ratio of 1.5167.

As part of the second-step conversion and stock offering completed in 2011, the ESOP borrowed an additional $7.1 million from the Company to purchase 684,395 shares of common stock during the initial public offering and in the open market. The outstanding loan balance of $6.5 million at June 30, 2015 will be repaid principally from the Bank’s discretionary contributions to the ESOP over a remaining period of 26 years.

The Company accounts for its ESOP in accordance with FASB ASC 718-40, Compensation – Stock Compensation. Under this guidance, unearned ESOP shares are not considered outstanding and are shown as a reduction of stockholders’ equity as unearned compensation. The Company will recognize compensation cost equal to the fair value of the ESOP shares during the periods in which they are committed to be allocated. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, this difference will be credited or debited to equity. As the loan is internally leveraged, the loan receivable from the ESOP to the Company is not reported as an asset nor is the debt of the ESOP shown as a liability in the Company’s financial statements. Dividends on unallocated shares are used to pay the ESOP debt.

At June 30, 2015, the remaining loan had an outstanding balance of $6.5 million and the interest rate is the prime rate plus one percent. The unallocated ESOP shares are pledged as collateral on the loans. As the loans are repaid to the Company, shares will be released from collateral and will be allocated to the accounts of the participants. For the three months ended June 30, 2015 and 2014, ESOP compensation expense was $74,000 and $433,000 respectively. The ESOP compensation expense for the six months ended June 30, 2015 and 2014 was $147,000 and $873,000, respectively.

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The ESOP shares as of June 30, 2015 were as follows:

Allocated shares	1,152,426
Shares allocated for release	11,407
Unreleased shares	581,735
Total ESOP shares	1,745,568
Market value of unreleased shares at June 30, 2015 (in thousands)	$	7,978

The Company merged its ESOP with its Defined Contribution, or 401(k) Plan, effective January 1, 2014. In lieu of employer cash contributions to the 401(k) Plan, shares released from the pay down on the ESOP loan will be allocated to all participants in the 401(k) Plan.

Note 10. Pension and Other Post-Retirement Benefit Plans

Legacy Rockville offered a noncontributory defined benefit pension plan through December 31, 2012 for eligible employees who met certain minimum service and age requirements hired before January 1, 2005. Pension plan benefits were based upon employee earnings during the period of credited service. The pension plan was frozen effective December 31, 2012. Employees hired on or after January 1, 2005 receive no benefits under the plan. All other employees will accrue no additional retirement benefits on or after January 1, 2013, and the amount of their qualified retirement income will not exceed the amount of benefits determined as of December 31, 2012.

As a result of the Merger, the Company participates in the Pentegra Defined Benefit Plan for Financial Institutions, a tax-qualified multi-employer defined benefit pension plan.

The Company also has supplemental retirement plans (the “Supplemental Plans”) that provide benefits for certain key officers. Benefits under the Supplemental Plans are based on a predetermined formula and are reduced by other benefits. The liability arising from these plans is being accrued over the participants’ remaining periods of service so that at the expected retirement dates, the present value of the annual payments will have been expensed.

The Company also provides an unfunded post-retirement medical, health and life insurance benefit plan for retirees and employees hired prior to March 31, 1993.

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The following table presents the amount of net periodic pension costs for the three and six months ended June 30, 2015 and 2014:

							Supplemental				Other
							Executive				Post-Retirement
	Qualified Pension						Retirement Plans				Benefits
For the Three Months Ended:	June 30,						June 30,				June 30,
	2015			2014			2015		2014		2015		2014
(In thousands)
Service cost	$	15		$	19		$	6	$	12	$	6	$	5
Interest cost	290			286			11		18		20		21
Expected return on plan assets	(456		)	(468		)	—		—		—		—
Amortization:
Loss (gain)	185			—			1		1		5		(3		)
Prior service cost	—			—			2		11		—		—
Additional amount recognized due to settlement or curtailment	—			—			20		667		—		—
Net periodic benefit cost (benefit)	$	34		$	(163	)	$	40	$	709	$	31	$	23
							Supplemental				Other
							Executive				Post-Retirement
	Qualified Pension						Retirement Plans				Benefits
For the Six Months Ended:	June 30,						June 30,				June 30,
	2015			2014			2015		2014		2015		2014
(In thousands)
Service cost	$	30		$	38		$	12	$	19	$	11	$	10
Interest cost	581			572			21		32		40		42
Expected return on plan assets	(912		)	(936		)	—		—		—		—
Amortization:
Loss (gain)	369			—			2		1		9		(5		)
Prior service cost	—			—			3		16		—		—
Additional amount recognized due to settlement or curtailment	—			—			40		667		—		—
Net periodic benefit cost (benefit)	$	68		$	(326	)	$	78	$	735	$	60	$	47

Note 11. Regulatory Matters

The Company and the Bank are subject to various regulatory capital requirements administered by Federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly, additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. The regulations require the Company and the Bank to meet specific capital guidelines that involve quantitative measures of the Company’s and the Bank’s assets, liabilities, and certain off-balance sheet items, as calculated under regulatory accounting practices. The Company’s and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. At June 30, 2015, the Bank exceeded all regulatory capital requirements and is considered “well-capitalized” under regulatory guidelines.

Basel III

In July 2013, federal banking regulators approved final rules that implement changes to the regulatory capital framework for U.S. banks. The rules set minimum requirements for both the quantity and quality of capital held by community banking institutions. The final rule includes a new minimum ratio of common equity Tier 1 capital to risk weighted assets of 4.5%, raises the minimum ratio of Tier 1 capital to risk-weighted assets from 4% to 6%, and includes a minimum leverage ratio of 4% for

36

all banking organizations. Additionally, community banking institutions must maintain a capital conservation buffer of common equity Tier 1 capital in an amount greater than 2.5% of total risk-weighted assets to avoid being subject to limitations on capital distributions and discretionary bonus payments to executive officers. The phase-in period for the rules began for the Company on January 1, 2015, with full compliance with all of the final rules’ requirements phased in over a multi-year schedule. Management believes that the Company’s capital levels will remain characterized as “well-capitalized” under the new rules.

The following is a summary of the Company’s and the Bank’s regulatory capital amounts and ratios as of June 30, 2015 and December 31, 2014 compared to the Federal Deposit Insurance Corporation’s requirements for classification as a well-capitalized institution and for minimum capital adequacy:

	Actual				Minimum For Capital Adequacy Purposes				Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions
(Dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
United Bank:
June 30, 2015
Total capital to risk weighted assets	$	557,550	12.6	%	$	354,563	8.0	%	$	443,203	10.0	%
Common equity tier 1 capital to risk weighted assets	527,359		11.9		199,421		4.5		288,053		6.5
Tier 1 capital to risk weighted assets	527,359		11.9		265,895		6.0		354,527		8.0
Tier 1 capital to total average assets	527,359		9.7		216,797		4.0		270,996		5.0
December 31, 2014
Total capital to risk weighted assets	$	513,960	12.9	%	$	317,750	8.0	%	$	397,187	10.0	%
Tier 1 capital to risk weighted assets	487,713		12.3		158,864		4.0		238,296		6.0
Tier 1 capital to total average assets	487,713		9.3		210,221		4.0		262,776		5.0
United Financial Bancorp, Inc.
June 30, 2015
Total capital to risk weighted assets	$	608,638	13.7	%	$	335,150	8.0	%	$	443,937	10.0	%	(1)
Common equity tier 1 capital to risk weighted assets	503,447		11.3		199,781		4.5		288,572		6.5		(1)
Tier 1 capital to risk weighted assets	503,447		11.3		266,374		6.0		355,165		8.0		(1)
Tier 1 capital to total average assets	503,447		9.3		217,003		4.0		271,254		5.0		(1)
December 31, 2014
Total capital to risk weighted assets	$	579,109	14.6	%	$	317,973	8.0	%	N/A		N/A
Tier 1 capital to risk weighted assets	477,862		12.0		159,022		4.0		N/A		N/A
Tier 1 capital to total average assets	477,862		9.1		210,049		4.0		N/A		N/A

(1) Pursuant to Basel III regulatory capital reform rules effective January 1, 2015.

Connecticut law restricts the amount of dividends that the Bank can pay the Company based on retained earnings for the current year and the preceding two years.

On May 21, 2015, the Company announced the results of the annual meeting of stockholders. The stockholders approved the amendment to the Certificate of Incorporation to increase the number of authorized shares of common stock from 60,000,000 to 120,000,000. The increase in the number of authorized shares of common stock became effective May 21, 2015.

Note 12. Accumulated Other Comprehensive Loss

Components of accumulated other comprehensive loss, net of taxes, consist of the following:

(In thousands)	Net Unrealized Gain (Loss) on Benefit Plans			Net Unrealized Gain (Loss) on Available For Sale Securities			Net Unrealized Gain (Loss) on Interest Rate Swaps			Accumulated Other Comprehensive Loss
December 31, 2014	$	(6,509	)	$	656		$	(637	)	$	(6,490	)
Change	391			(3,685		)	(398		)	(3,692		)
June 30, 2015	$	(6,118	)	$	(3,029	)	$	(1,035	)	$	(10,182	)

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The components of accumulated other comprehensive loss, included in stockholders’ equity, are as follows:

(In thousands)	June 30, 2015			December 31, 2014
Benefit plans:
Unrecognized net actuarial loss	$	(9,569	)	$	(9,952	)
Tax effect	3,451			3,443
Net-of-tax amount	(6,118		)	(6,509		)
Securities available for sale:
Net unrealized gain (loss)	(4,716		)	1,030
Tax effect	1,687			(374		)
Net-of-tax amount	(3,029		)	656
Interest rate swaps:
Net unrealized loss	(1,632		)	(996		)
Tax effect	597			359
Net-of-tax amount	(1,035		)	(637		)
	$	(10,182	)	$	(6,490	)

Note 13. Net Income (Loss) Per Share

The following table sets forth the calculation of basic and diluted net income (loss) per share for the three and six months ended June 30, 2015 and 2014:

	For the Three Months   Ended June 30,						For the Six Months   Ended June 30,
(In thousands, except share data)	2015			2014			2015			2014
Net income (loss) available to common stockholders	$	13,332		$	(5,571	)	$	26,357		$	(4,624	)
Weighted-average common shares outstanding	49,422,987			43,857,201			49,365,407			34,885,862
Less: average number of unallocated ESOP award shares	(585,475		)	(678,741		)	(588,311		)	(694,767		)
Weighted-average basic shares outstanding	48,837,512			43,178,460			48,777,096			34,191,095
Dilutive effect of stock options	471,677			—			515,814			—
Weighted-average diluted shares	49,309,189			43,178,460			49,292,910			34,191,095
Net income (loss) per share:
Basic	$	0.27		$	(0.13	)	$	0.54		$	(0.14	)
Diluted	$	0.27		$	(0.13	)	$	0.53		$	(0.14	)

For both the three and six months ended June 30, 2015, the weighted-average number of anti-dilutive stock options excluded from diluted earnings per share were 722,657. For the three and six months ended June 30, 2014, the weighted-average number of anti-dilutive stock options excluded from diluted earnings per share were 684,822 shares and 550,341 shares, respectively. For the 2015 periods shown, the stock options are anti-dilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented. For the 2014 periods shown, no potential common shares are included in the computation of diluted per share amounts when a loss exists.

Note 14. Fair Value Measurements

Fair value estimates are made as of a specific point in time based on the characteristics of the assets and liabilities and relevant market information. In accordance with FASB ASC 820, the fair value estimates are measured within the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

Level 1: Quoted prices are available in active markets for identical assets and liabilities as of the reporting date. The quoted price is not adjusted because of the size of the position relative to trading volume.

Level 2: Pricing inputs are observable for assets and liabilities, either directly or indirectly, but are not the same as those used in Level 1. Fair value is determined through the use of models or other valuation methodologies.

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Level 3: Pricing inputs are unobservable for assets and liabilities and include situations where there is little, if any, market activity and the determination of fair value requires significant judgment or estimation.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such instances, the determination of which category within the fair value hierarchy is appropriate for any given asset and liability is based on the lowest level of input that is significant to the fair value of the asset and liability.

When available, quoted market prices are used. In other cases, fair values are based on estimates using present value or other valuation techniques. These techniques involve uncertainties and are significantly affected by the assumptions used and judgments made regarding risk characteristics of various financial instruments, discount rates, estimates of future cash flows, future expected loss experience and other factors. Changes in assumptions could significantly affect these estimates and could be material. Derived fair value estimates may not be substantiated by comparison to independent markets and, in certain cases, could not be realized in an immediate sale of the instrument.

Fair value estimates for financial instrument fair value disclosures are based on existing financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not financial instruments. Accordingly, the aggregate fair value amounts presented do not purport to represent the underlying market value of the Company.

Loans Held for Sale

The Company has elected the fair value option for its portfolio of residential real estate mortgage loans held for sale to reduce certain timing differences and better match changes in fair value of the loans with changes in the fair value of the derivative loan sale contracts used to economically hedge them.

The aggregate principal amount of the residential real estate mortgage loans held for sale was $27.1 million and $8.1 million at June 30, 2015 and December 31, 2014, respectively. The aggregate fair value of these loans as of the same dates was $28.0 million and $8.2 million, respectively.

There were no residential real estate mortgage loans held for sale 90 days or more past due at June 30, 2015 and December 31, 2014.

The following table presents the gains in fair value related to mortgage loans held for sale for the periods indicated. Changes in the fair value of mortgage loans held for sale are reported as a component of income from mortgage banking activity in the Consolidated Statements of Operations.

	Three Months Ended   June 30,				Six Months Ended   June 30,
(In thousands)	2015		2014		2015		2014
Mortgage loans held for sale	$	551	$	517	$	681	$	568

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables detail the assets and liabilities carried at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value. There were no transfers in and out of Level 1, Level 2 and Level 3 measurements during the six months ended June 30, 2015 and 2014.

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	Total Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(In thousands)			(Level 1)		(Level 2)		(Level 3)
June 30, 2015
Available for Sale Securities:
U.S. Government and government-sponsored enterprise obligations	$	10,464	$	—	$	10,464	$	—
Government-sponsored residential mortgage-backed securities	126,125		—		126,125		—
Government-sponsored residential collateralized debt obligations	280,889		—		280,889		—
Government-sponsored commercial mortgage-backed securities	54,472		—		54,472		—
Government-sponsored commercial collateralized debt obligations	134,440		—		134,440		—
Asset-backed securities	163,182		—		17,811		145,371
Corporate debt securities	50,532		—		48,947		1,585
Obligations of states and political subdivisions	211,605		—		211,605		—
Marketable equity securities	30,218		3,258		26,960		—
Total available for sale securities	$	1,061,927	$	3,258	$	911,713	$	146,956
Mortgage loan derivative assets	$	317	$	—	$	317	$	—
Mortgage loan derivative liabilities	18		—		18		—
Loans held for sale	28,017		—		28,017		—
Mortgage servicing rights	5,994		—		—		5,994
Interest rate swap assets	5,867		—		5,867		—
Interest rate swap liabilities	7,300		—		7,300		—
December 31, 2014
Available for Sale Securities:
U.S. Government and government-sponsored enterprise obligations	$	6,822	$	—	$	6,822	$	—
Government-sponsored residential mortgage-backed securities	167,419		—		167,419		—
Government-sponsored residential collateralized-debt obligations	238,133		—		238,133		—
Government-sponsored commercial mortgage-backed securities	68,298		—		68,298		—
Government-sponsored commercial collateralized-debt obligations	129,686		—		129,686		—
Asset-backed securities	178,755		—		43,166		135,589
Corporate debt securities	42,245		—		40,627		1,618
Obligations of states and political subdivisions	195,772		—		195,772		—
Marketable equity securities	25,881		3,299		22,582		—
Total available for sale securities	$	1,053,011	$	3,299	$	912,505	$	137,207
Mortgage loan derivative assets	$	220	$	—	$	220	$	—
Mortgage loan derivative liabilities	21		—		21		—
Loans held for sale	8,220		—		8,220		—
Mortgage servicing rights	4,729		—		—		4,729
Interest rate swap assets	3,853		—		3,853		—
Interest rate swap liabilities	4,931		—		4,931		—

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The following table presents additional information about assets measured at fair value on a recurring basis for which the Company utilized Level 3 inputs to determine fair value:

	Three Months Ended   June 30,						Six Months Ended   June 30,
(In thousands)	2015			2014			2015			2014
Balance of available for sale securities, at beginning of period	$	147,581		$	72,438		$	137,207		$	72,963
Purchases	—			63,173			9,799			63,173
Principal payments	(252		)	(1,052		)	(435		)	(2,114		)
Total unrealized gains (losses) included in other comprehensive income/loss	(373		)	672			385			1,209
Balance at end of period	$	146,956		$	135,231		$	146,956		$	135,231
Balance of mortgage servicing rights, at beginning of period	$	4,921		$	4,084		$	4,729		$	4,103
Addition of Legacy United mortgage servicing rights	—			764			—			764
Issuances	688			184			1,265			318
Change in fair value recognized in net income	385			(478		)	—			(631		)
Balance at end of period	$	5,994		$	4,554		$	5,994		$	4,554

The following valuation methodologies are used for certain assets that are recorded at fair value on a recurring basis.

Available for Sale Securities: Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using an independent pricing service. Level 1 securities are those traded on active markets for identical securities including U.S. treasury securities, equity securities and mutual funds. Level 2 securities include U.S. Government agency obligations, U.S. Government-sponsored enterprises, mortgage-backed securities, obligations of states and political subdivisions, corporate and other debt securities. Level 3 securities include private placement securities and thinly traded equity securities. All fair value measurements are obtained from a third party pricing service and are not adjusted by management.

Matrix pricing is used for pricing most obligations of states and political subdivisions, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for specific securities but rather by relying on securities relationships to other benchmark quoted securities. The grouping of securities is completed according to insurer, credit support, state of issuance and rating to incorporate additional spreads and municipal bond yield curves.

The valuation of the Company’s asset-backed securities is obtained from a third party pricing provider and is determined utilizing an approach that combines advanced analytics with structural and fundamental cash flow analysis based upon observed market based yields. The third party provider’s model analyzes each instrument’s underlying collateral given observable collateral characteristics and credit statistics to extrapolate future performance and project cash flows, by incorporating expectations of default probabilities, recovery rates, prepayment speeds, loss severities and a derived discount rate. The Company has determined that due to the liquidity and significance of unobservable inputs, that asset-backed securities are classified in Level 3 of the valuation hierarchy.

The Company holds one pooled trust preferred security. The security’s fair value is based on unobservable issuer-provided financial information and discounted cash flow models derived from the underlying structured pool and therefore is classified as Level 3.

Loans Held for Sale: The fair value of residential mortgage loans held for sale is estimated using quoted market prices for loans with similar characteristics provided by government-sponsored entities. Any changes in the valuation of mortgage loans held for sale is based upon the change in market interest rates between closing the loan and the measurement date and an immaterial portion attributable to changes in instrument-specific credit risk The Company has determined that loans held for sale are classified in Level 2 of the valuation hierarchy.

Mortgage Servicing Rights: A mortgage servicing right asset represents the amount by which the present value of the estimated future net cash flows to be received from servicing loans are expected to more than adequately compensate the Company for performing the servicing. The fair value of servicing rights is provided by a third party and is estimated using a present value cash flow model. The most important assumptions used in the valuation model are the anticipated rate of the loan prepayments and discount rates. Adjustments are recorded monthly. (See Note 4, “Loans Receivable and Allowance for Loan Losses” in the Notes to Consolidated Financial Statements contained elsewhere in this report) as the cash flows derived from the valuation

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model change the fair value of the asset. Although some assumptions in determining fair value are based on standards used by market participants, some are based on unobservable inputs and therefore are classified in Level 3 of the valuation hierarchy.

Derivatives: Derivative instruments related to commitments for loans to be sold are carried at fair value. Fair value is determined through quotes obtained from actively traded mortgage markets. Any change in fair value for rate lock commitments to the borrower is based upon the change in market interest rates between making the rate lock commitment and the measurement date and, for forward loan sale commitments to the investor, is based upon the change in market interest rates from entering into the forward loan sales contract and the measurement date. Both the rate lock commitments to the borrowers and the forward loan sale commitments to investors are derivatives pursuant to the requirements of FASB ASC 815-10; however, the Company has not designated them as hedging instruments. Accordingly, they are marked to fair value through earnings.

The Company’s intention is to sell the majority of its fixed rate mortgage loans with original terms of 30 years on a servicing retained basis as well as certain 10, 15 and 20 year loans. The servicing value has been included in the pricing of the rate lock commitments. The Company estimates a fallout rate of approximately 14.5% based upon historical averages in determining the fair value of rate lock commitments. Although the use of historical averages is based upon unobservable data, the Company believes that this input is insignificant to the valuation and, therefore, has concluded that the fair value measurements meet the Level 2 criteria. The Company continually reassesses the significance of the fallout rate on the fair value measurement and updates the fallout rate accordingly.

Hedging derivatives include interest rate swaps as part of management’s strategy to manage interest rate risk. The valuation of the Company’s interest rate swaps is obtained from a third-party pricing service and is determined using a discounted cash flow analysis on the expected cash flows of each derivative. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. The Company has determined that the majority of the inputs used to value its interest rate derivatives fall within Level 2 of the fair value hierarchy.

The following table presents additional quantitative information about assets measured at fair value on a recurring basis for which the Company utilized Level 3 inputs to determine fair value at June 30, 2015:

(Dollars in thousands)
	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Asset-backed securities	$	145,371	Discounted Cash Flow	Discount Rates	1.3% - 6.3% (4.5%)
				Cumulative Default %	6.4% - 12.1% (9.1%)
				Loss Given Default	2.0% - 8.4% (2.9%)
Corporate debt - pooled trust	$	1,585	Discounted Cash Flow	Discount Rate	7.3% (7.3%)
preferred security				Cumulative Default %	2.8% - 78.0% (13.5%)
				Loss Given Default	85% - 100% (89.8%)
Mortgage servicing rights	$	5,994	Discounted Cash Flow	Discount Rate	8.0% - 17.0% (9.5%)
				Cost to Service	$40 - $100 ($51.8)
				Float Earnings Rate	0.25% (0.25%)

Asset-backed securities: Given the level of market activity for the asset backed securities in the portfolio, the discount rates utilized in the fair value measurement were derived by analyzing current market yields for comparable securities and research reports issued by brokers and dealers in the financial services industry. Adjustments were then made for credit and structural differences between these types of securities. There is an inverse correlation between the discount rate and the fair value measurement.  When the discount rate increases, the fair value decreases.

Other significant unobservable inputs to the fair value measurement of the asset backed securities in the portfolio included prospective defaults and recoveries.  The cumulative default percentage represents the lifetime defaults assumed. The loss given default percentage represents the percentage of current and projected defaults assumed to be lost. There is an inverse correlation between the default percentages and the fair value measurement. When default percentages increase, the fair value decreases. 

Corporate debt: Given the level of market activity for the trust preferred securities in the form of collateralized debt obligations, the discount rate utilized in the fair value measurement were derived by analyzing current market yields for trust preferred securities of individual name issuers in the financial services industry. Adjustments were then made for credit and structural differences between these types of securities. There is an inverse correlation between the discount rate and the fair value measurement. When the discount rate increases, the fair value decreases.

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Other significant unobservable inputs to the fair value measurement of the collateralized debt obligations included prospective defaults and recoveries. The cumulative default percentage represents the lifetime defaults assumed, excluding currently defaulted collateral and including all performing and currently deferring collateral.  As a result, the cumulative default percentage also reflects assumptions of the possibility of currently deferring collateral curing and becoming current.  The loss given default percentage represents the percentage of current and projected defaults assumed to be lost. There is an inverse correlation between the cumulative default and loss given default percentages and the fair value measurement. When default percentages increase, the fair value decreases. 

Mortgage servicing rights: Given the low level of market activity in the MSR market and the general difficulty in price discovery, even when activity is at historic norms, the discount rate utilized in the fair value measurement was derived by analyzing recent and historical pricing for MSRs. Adjustments were then made for various loan and investor types underlying these MSRs. There is an inverse correlation between the discount rate and the fair value measurement. When the discount rate increases, the fair value decreases.

Other significant unobservable inputs to the fair value measurement of MSR’s include cost to service, an input that is not as simple as taking total costs and dividing by a number of loans. It is a figure informed by marginal cost and pricing for MSRs by competing firms, taking other assumptions into consideration. It is different for different loan types. There is an inverse correlation between the cost to service and the fair value measurement. When the cost assumption increase, the fair value decreases.

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The Company may also be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with generally accepted accounting principles; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The following tables detail the assets carried at fair value on a non-recurring basis at June 30, 2015 and December 31, 2014 and indicate the fair value hierarchy of the valuation technique utilized by the Company to determine fair value. There were no liabilities measured at fair value on a non-recurring basis at June 30, 2015 and December 31, 2014.

	Total Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(In thousands)			(Level 1)		(Level 2)		(Level 3)
June 30, 2015
Impaired loans	$	2,155	$	—	$	—	$	2,155
Other real estate owned	227		—		—		227
Total	$	2,382	$	—	$	—	$	2,382
December 31, 2014
Impaired loans	$	2,863	$	—	$	—	$	2,863
Other real estate owned	2,239		—		—		2,239
Total	$	5,102	$	—	$	—	$	5,102

The following is a description of the valuation methodologies used for certain assets that are recorded at fair value on a non-recurring basis.

Other Real Estate Owned: The Company classifies property acquired through foreclosure or acceptance of deed-in-lieu of foreclosure, as other real estate owned (“OREO”) in its financial statements. Upon foreclosure, the property securing the loan is recorded at fair value as determined by real estate appraisals less the estimated selling expense. Appraisals are based upon observable market data such as comparable sales within the real estate market. Assumptions are also made based on management’s judgment of the appraisals and current real estate market conditions and therefore these assets are classified as non-recurring Level 3 assets in the fair value hierarchy.

Impaired Loans: Accounting standards require that a creditor recognize the impairment of a loan if the present value of expected future cash flows discounted at the loan’s effective interest rate (or, alternatively, the observable market price of the loan or the fair value of the collateral) is less than the recorded investment in the impaired loan. Non-recurring fair value adjustments to collateral dependent loans are recorded, when necessary, to reflect partial write-downs and the specific reserve allocations based upon observable market price or current appraised value of the collateral less selling costs and discounts based on management’s judgment of current conditions. Based on the significance of management’s judgment, the Company records collateral dependent impaired loans as non-recurring Level 3 fair value measurements.

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Gains (losses) on assets recorded at fair value on a non-recurring basis are as follows:

	Three Months Ended   June 30,					Six Months Ended   June 30,
(In thousands)	2015		2014			2015			2014
Impaired loans	$	364	$	(367	)	$	(87	)	$	(647	)
Other real estate owned	213		139			168			171
Total	$	577	$	(228	)	$	81		$	(476	)

Disclosures about Fair Value of Financial Instruments:

The following methods and assumptions were used by management to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value.

Cash and Cash Equivalents: Carrying value is assumed to represent fair value for cash and due from banks and short-term investments, which have original maturities of 90 days or less.

Securities: Refer to the above discussion on securities.

Loans Held for Sale: Refer to the above discussion on loans held for sale.

Loans Receivable – net: The fair value of the net loan portfolio is determined by discounting the estimated future cash flows using the prevailing interest rates and appropriate credit and prepayment risk adjustments as of period-end at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The fair value of non-performing loans is estimated using the Bank’s prior credit experience.

Federal Home Loan Bank of Boston (“FHLBB”) stock: FHLBB stock is a non-marketable equity security which is assumed to have a fair value equal to its carrying value due to the fact that it can only be redeemed by the FHLB Boston at par value.

Accrued Interest Receivable: Carrying value is assumed to represent fair value.

Derivative Assets: Refer to the above discussion on derivatives.

Mortgage Servicing Rights: Refer to the above discussion on mortgage servicing rights.

Deposits and Mortgagors’ and Investors’ Escrow Accounts: The fair value of demand, non-interest- bearing checking, savings and certain money market deposits is determined as the amount payable on demand at the reporting date. The fair value of time deposits is estimated by discounting the estimated future cash flows using rates offered for deposits of similar remaining maturities as of period-end.

FHLBB Advances and Other Borrowings: The fair value of borrowed funds is estimated by discounting the future cash flows using market rates for similar borrowings.

Derivative Liabilities: Refer to the above discussion on derivatives.

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As of June 30, 2015 and December 31, 2014, the carrying value and estimated fair values of the Company’s financial instruments are as described below:

	Carrying Value		Fair Value
(In thousands)			Level 1		Level 2		Level 3		Total
June 30, 2015
Financial assets:
Cash and cash equivalents	$	84,525	$	84,525	$	—	$	—	$	84,525
Available for sale securities	1,061,927		3,258		911,713		146,956		1,061,927
Held to maturity securities	14,992		—		15,978		—		15,978
Loans held for sale	28,017		—		28,017		—		28,017
Loans receivable-net	4,048,770		—		—		4,099,784		4,099,784
FHLBB stock	37,061		—		—		37,061		37,061
Accrued interest receivable	14,777		—		—		14,777		14,777
Derivative assets	6,184		—		6,184		—		6,184
Mortgage servicing rights	5,994		—		—		5,994		5,994
Financial liabilities:
Deposits	4,182,251		—		—		4,187,465		4,187,465
Mortgagors’ and investors’ escrow accounts	15,168		—		—		15,168		15,168
FHLBB advances and other borrowings	825,963		—		—		826,975		826,975
Derivative liabilities	7,318		—		7,318		—		7,318
December 31, 2014
Financial assets:
Cash and cash equivalents	$	86,952	$	86,952	$	—	$	—	$	86,952
Available for sale securities	1,053,011		3,299		912,505		137,207		1,053,011
Held to maturity securities	15,368		—		16,713		—		16,713
Loans held for sale	8,220		—		8,220		—		8,220
Loans receivable-net	3,877,063		—		—		3,919,432		3,919,432
FHLBB stock	31,950		—		—		31,950		31,950
Accrued interest receivable	14,212		—		—		14,212		14,212
Derivative assets	4,073		—		4,073		—		4,073
Mortgage servicing rights	4,729		—		—		4,729		4,729
Financial liabilities:
Deposits	4,035,311		—		—		3,899,658		3,899,658
Mortgagors’ and investors’ escrow accounts	13,004		—		—		13,004		13,004
FHLBB advances and other borrowings	777,314		—		—		773,786		773,786
Derivative liabilities	4,952		—		4,952		—		4,952

Certain financial instruments and all nonfinancial investments are exempt from disclosure requirements. Accordingly, the aggregate fair value of amounts presented above may not necessarily represent the underlying fair value of the Company.

Note 15. Commitments and Contingencies

Financial Instruments With Off-Balance Sheet Risk

In the normal course of business, the Company is a party to financial instruments with off-balance sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit through issuing standby letters of credit and undisbursed portions of construction loans and involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized on the Consolidated Statements of Condition. The contractual amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments.

The contractual amounts of commitments to extend credit represent the amounts of potential accounting loss should the contract be fully drawn upon, the customer defaults and the value of any existing collateral obligations is deemed worthless.

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The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. Off-balance sheet financial instruments whose contract amounts represent credit risk are as follows at June 30, 2015 and December 31, 2014:

(In thousands)	June 30, 2015		December 31, 2014
Commitments to extend credit:
Commitment to grant loans	$	288,253	$	128,766
Undisbursed construction loans	107,922		144,118
Undisbursed home equity lines of credit	307,817		321,346
Undisbursed commercial lines of credit	308,704		295,639
Standby letters of credit	11,838		12,547
Unused checking overdraft lines of credit	1,335		1,304
Total	$	1,025,869	$	903,720

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Since these commitments could expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include residential and commercial property, accounts receivable, inventory, property, plant and equipment, deposits, and securities.

Other Commitments

In conjunction with its merger with Legacy United, the Company acquired investments in partnerships, including low income housing tax credit and new markets housing tax credit partnerships. Additionally, in September 2014, the Company invested in a tax credit partnership associated with alternative energy. In continuing with the alternative energy trend, the Company invested in a second alternative energy tax credit partnership which closed in March of 2015. The net carrying balance of all of the partnership investments totaled $22.5 million at June 30, 2015 and is included in other assets in the consolidated statement of condition. At June 30, 2015, the Company was contractually committed under these limited partnership agreements to make additional capital contributions of approximately $986,000, which constitutes our maximum potential obligation to these partnerships. The Company makes additional investments in response to formal written requests, rather than a funding schedule. Funding requests are submitted when the partnerships plan to make additional investments.

Legal Matters

The Company is involved in various legal proceedings that have arisen in the normal course of business. The Company is not involved in any legal proceedings deemed to be material as of June 30, 2015.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

This Form 10-Q contains forward-looking statements that are within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of our management and are subject to significant risks and uncertainties. These risks and uncertainties could cause our results to differ materially from those set forth in such forward-looking statements.

Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “estimates,” “targeted” and similar expressions, and future or conditional verbs, such as “will,” “would,” “should,” “could” or “may” are intended to identify forward-looking statements but are not the only means to identify these statements.

Risk Factors

Factors that have a material adverse effect on operations include, but are not limited to, the following:

• Local, regional, national and international business or economic conditions may differ from those expected;

• The effects of and changes in trade, monetary and fiscal policies and laws, including the U.S. Federal Reserve Board’s interest rate policies, may adversely affect our business;

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• Competition for opportunistic acquisitions can be highly competitive, and we may not be able to acquire other institutions on attractive terms. There can be no assurance that regulators will provide the requisite approvals or that we will be successful in completing future acquisitions;

• The ability to increase market share and control expenses may be more difficult than anticipated;

• Changes in government regulations (including those concerning taxes, banking, securities and insurance) may adversely affect us or our businesses, including those under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the Basel III update to the Basel Accords;

• Changes in accounting policies and practices, as may be adopted by regulatory agencies or the Financial Accounting Standards Board, may affect expected financial reporting;

• Future changes in interest rates may reduce our profits which could have a negative impact on the value of our stock;

• If the tax credit positions we have taken in tax credit investments for federal renewable energy tax benefits are challenged by the taxing authorities and not upheld, it could have a negative impact to profitability.

• Technological changes and cyber-security matters;

• Changes in demand for loan products, financial products and deposit flow could impact our financial performance;

• The timely development and acceptance of new products and services and perceived overall value of these products and services by customers;

• Adverse conditions in the securities markets that lead to impairment in the value of securities in our investment portfolio;

• Strong competition within our market area may limit our growth and profitability;

• We have opened and may open additional new branches and/or loan production offices which may not become profitable as soon as anticipated, if at all;

• If the goodwill that the Company has recorded in connection with its mergers and acquisitions becomes impaired, it could have a negative impact on profitability;

• If our allowance for loan losses is not sufficient to cover actual loan losses, our earnings could decrease;

• Our stock value may be negatively affected by banking regulations and our Certificate of Incorporation restricting takeovers;

• Changes in the level of non-performing assets and charge-offs;

• Because we intend to continue to increase our commercial real estate and commercial business loan originations, our lending risk may increase, and downturns in the real estate market or local economy could adversely affect our earnings;

• The trading volume in our stock is less than in larger publicly traded companies which can cause price volatility, hinder your ability to sell our common stock and may lower the market price of the stock;

• Our ability to attract and retain qualified employees;

• We may not manage the risks involved in the foregoing as well as anticipated, and

• Severe weather, natural disasters, acts of God, war or terrorism and other external events could significantly impact our business.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. Except as required by applicable law or regulation, management undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is intended to help the reader understand United Financial Bancorp, Inc., our operations and our present business environment. We believe accuracy, transparency and clarity are the primary goals of successful financial reporting. We remain committed to transparency in our financial reporting, providing our stockholders with informative financial disclosures and presenting an accurate view of our financial disclosures, financial position and operating results.

The MD&A is provided as a supplement to—and should be read in conjunction with—our Unaudited Consolidated Financial Statements and the accompanying notes thereto contained in Part I, Item 1, of this report as well as our Annual Report on Form 10-K for the year ended December 31, 2014. The following sections are included in the MD&A:

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• Our Business – a general description of our business, our objectives and regulatory considerations.

• Critical Accounting Estimates – a discussion of accounting estimates that require critical judgments and estimates.

• Operating Results – an analysis of our Company’s consolidated results of operations for the periods presented in our Unaudited Consolidated Financial Statements.

• Comparison of Financial Liquidity and Capital Resources – an overview of financial condition and market interest rate risk.

Our Business

Merger with Legacy United

On April 30, 2014, Rockville Financial, Inc. (“Rockville”) completed its merger with United Financial Bancorp, Inc. (“Legacy United”) and changed its legal entity name to United Financial Bancorp, Inc. (the “Company”). In connection with this merger, Rockville Bank, the Company’s principal asset and wholly-owned subsidiary, completed its merger with Legacy United’s banking subsidiary, United Bank, and changed its name to United Bank (the “Bank”). Discussions throughout this report related to the merger with Legacy United are referred to as the “Merger.”

The financial statements for prior periods do not reflect the operations of Legacy United.

The Merger had a significant impact by more than doubling the assets and deposits of the former Rockville Financial, Inc., expanding the branch network and by entering into new markets – Western and Central Massachusetts as well as expanding our presence in Central Connecticut.

General

By assets, United Financial Bancorp, Inc. is the third largest publicly traded banking institution headquartered in Connecticut with consolidated assets of $5.68 billion and stockholders’ equity of $612.0 million at June 30, 2015.

The Company delivers financial services to individuals, families and businesses throughout Connecticut and Massachusetts through its 52 banking offices, its commercial loan production offices, its mortgage loan production offices, 63 ATMs, telephone banking, online and mobile banking and its website (www.bankatunited.com).

The Company’s vision is to pursue excellence in all things with respect to its customers, employees, shareholders and communities. This has helped United Financial Bancorp, Inc. fulfill the financial needs of its customers while delivering an exceptional banking experience in the market areas that it has served since 1858. The structure of United Bank supports the vision with community banking teams in each market that provide traditional banking products and services to business organizations and individuals, including residential and commercial real estate loans, commercial business loans, consumer loans, financial advisory services and a variety of deposit products. Current strategies for the Company include continuing to expand commercial real estate and commercial business lending activities; growing the Company’s deposit base; building on the success of its residential mortgage lending activities; increasing the non-interest income component of total revenues through development of banking-related fee income and the sale of insurance and investment products; and remaining focused on improving operating efficiencies.

The Company’s results of operations depend primarily on net interest income, which is the difference between the income earned on its loan and securities portfolios and its cost of funds, consisting of the interest paid on deposits and borrowings. Results of operations are also affected by the Company’s provision for loan losses, income and expenses pertaining to other real estate owned, gains and losses from sales of loans and securities and non-interest income and expenses. Non-interest income primarily consists of fee income from depositors, mortgage servicing income, mortgage origination and loan sale income and increases in cash surrender value of bank-owned life insurance (“BOLI”). Non-interest expenses consist principally of salaries and employee benefits, occupancy, service bureau fees, marketing, professional fees, FDIC insurance assessments, other real estate owned and other operating expenses.

Results of operations are also significantly affected by general economic and competitive conditions and changes in interest rates as well as government policies and actions of regulatory authorities. Future changes in applicable laws, regulations or government policies may materially affect the Company. Uncertainty and challenges surrounding future economic growth, consumer confidence, credit availability, competition and corporate earnings remains.

Our Objectives

The Company seeks to continually deliver superior value to its customers, stockholders, employees and communities through achievement of its core operating objectives which are to:

• Grow and retain core deposit relationships with a focus on checking, savings and money market accounts for personal, business and municipal depositors;

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• Build high quality, profitable loan portfolios using primarily organic growth and also purchase strategies, while also continuing to maintain and improve efficiencies in its robust secondary mortgage banking business;

• Build and diversify revenue streams through development of banking-related fee income, in particular, through the expansion of its financial advisory services;

• Maintain expense discipline and improve operating efficiencies;

• Invest in technology to enhance superior customer service and products; and

• Maintain a rigorous risk identification and management process.

Significant factors management reviews to evaluate achievement of the Company’s operating objectives and its operating results and financial condition include, but are not limited to: net income and earnings per share, return on tangible common equity and assets, net interest margin, non-interest income, operating expenses related to total average assets and efficiency ratio, asset quality, loan and deposit growth, capital management, liquidity and interest rate sensitivity levels, customer service standards, market share and peer comparisons.

Regulatory Considerations

The Company and its subsidiaries are subject to numerous examinations by federal and state banking regulators, as well as the Securities and Exchange Commission. Please refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 for additional disclosures with respect to laws and regulations affecting the Company’s businesses.

The Company has reviewed the potential impacts associated with the Dodd-Frank Act as well as the yet to be fully interpreted and implemented responsibilities of the Consumer Financial Protection Bureau. Some degree of uncertainty still exists surrounding this legislation and the resultant directives, and as such the further analysis of potential burden will be difficult to assess. The financial reform legislation and any implementing rules that are ultimately issued could have adverse implications on the financial industry, the competitive environment, and our ability to conduct business. Management will have to apply additional resources to ensure compliance with all applicable laws and regulations and any implementing rules, which may increase our costs of operations and adversely impact our earnings.

In July 2013, the Federal Reserve published Basel III rules establishing a new comprehensive capital framework of U.S. banking organizations. Under the rules, effective January 1, 2015 for the Company and Bank, the minimum capital ratios will be a) 4.5% “Common Equity Tier 1” to risk-weighted assets, b) 6.0% Tier 1 capital to risk-weighted assets and c) 8.0% total capital to risk-weighted assets. In addition, the new regulations will impose certain limitations on dividends, share buy-backs, discretionary payments on Tier 1 instruments and discretionary bonuses to executive officers if the organization does not maintain a capital conservation buffer of common equity Tier 1 capital in an amount greater than 2.5% of its risk-weighted assets, in addition to the amount needed to meet its minimum risk-based capital requirements, phased in over a 5 year period until January 1, 2019. Accordingly, while these proposed rules are slated for phase in commencing January 1, 2015 (and the capital conservation buffer beginning January 1, 2016), the Company has proactively planned for them, and is well positioned to meet the requirements of these complex proposals. We believe, however, that we now do and will continue to exceed all expected well capitalized regulatory requirements over the course of the proposed phase-in period, and on a fully phased-in basis.

Critical Accounting Estimates

The accounting policies followed by the Company and its subsidiaries conform with accounting principles generally accepted in the United States of America and with general practices within the banking industry. Critical accounting policies are defined as those that are reflective of significant judgments and uncertainties, and could potentially result in materially different results under different assumptions and conditions. We base our assumptions, estimates and judgments on historical experience, current trends and other factors that management believes to be relevant at the time our Consolidated Financial Statements are prepared. On a regular basis, management reviews the accounting policies, assumptions, estimates and judgments to ensure that our financial statements are presented fairly and in accordance with GAAP.

We believe that our most critical accounting policies, which involve the most complex subjective decisions or assessments, relate to the allowance for loan losses, other-than-temporary impairment of investment securities, derivative instruments and hedging activities, goodwill, and income taxes. Management has reviewed these critical accounting estimates and related disclosures with the Audit Committee of our Board of Directors. Additional accounting policies are more fully described in Note 1 in the “Notes to Consolidated Financial Statements” presented in our 2014 Annual Report on Form 10-K. A brief description of our current policies involving significant judgment follows:

Allowance for Loan Losses

The allowance for loan losses is established as embedded losses are estimated to have occurred through the provisions for losses charged against operations and is maintained at a level that management considers adequate to absorb losses in the loan portfolio. Management’s judgment in determining the adequacy of the allowance is inherently subjective and is based on past

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loan loss experience, known and inherent losses and size of the loan portfolios, an assessment of current economic and real estate market conditions, estimates of the current value of underlying collateral, review of regulatory authority examination reports and other relevant factors.

We determined our allowance for loan losses by portfolio segment, which consists of residential real estate for loans collateralized by owner-occupied residential real estate, commercial real estate, construction, commercial business, and installment and collateral loans. We further segregate these portfolios between loans which are accounted for under the amortized cost method (referred to as “covered” loans) and loans acquired (referred to as “acquired” loans), as acquired loans were originally recorded at fair value, which included an estimate of lifetime credit losses, resulting in no carryover of the related allowance for loan losses. An allowance for loan losses on acquired loans is only established to the extent that there is deterioration in a loan exceeding the remaining credit loss established upon acquisition.

Although management believes it uses appropriate available information to establish the allowance for loan losses, future additions to the allowance may be necessary if certain future events occur that cause actual results to differ from the assumptions used in making the evaluation.

Other-than-Temporary Impairment of Securities

The Company maintains a securities portfolio that is classified into two major categories: available for sale and held to maturity. Securities available-for-sale are recorded at estimated fair value with unrealized gains and losses excluded from earnings and reported in other comprehensive income. Held-to-maturity securities are recorded at amortized cost. Management determines the classifications of a security at the time of its purchase.

Quarterly, securities with unrealized losses are reviewed as deemed appropriate to assess whether the decline in fair value is temporary or other-than-temporary. The assessment is to determine whether the decline in value is from company-specific events, industry developments, general economic conditions, credit losses on debt or other reasons. Declines in the fair value of available for sale securities below their cost or amortized cost that are deemed to be other-than-temporary are reflected in earnings for equity securities and for debt securities that have an identified credit loss. Unrealized losses on debt securities with no identified credit loss component are reflected in other comprehensive income. During the six months ended June 30, 2015, the Company did not experience any losses which were deemed to be other-than-temporarily impaired.

Derivative Instruments and Hedging Activities

The Company uses derivatives to manage a variety of risks, including risks related to interest rates. Accounting for derivatives as hedges requires that, at inception and over the term of the arrangement, the hedged item and related derivative meet the requirements for hedge accounting. The rules and interpretations related to derivatives accounting are complex. Failure to apply this complex guidance correctly will result in the changes in the fair value of the derivative being reported in earnings.

The Company uses interest rate swaps to manage its interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. The fair values of interest rate swaps are determined using the standard methodology of netting the discounted future fixed cash receipts (or payment) and the expected variable cash payments (or receipts). The variable cash payment (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rates curves.

At June 30, 2015, derivative assets and liabilities were $6.0 million and $7.1 million, respectively. Further information about our use of derivatives is provided in Note 8, “Derivatives and Hedging Activities” in Notes to Unaudited Consolidated Financial Statements contained elsewhere in this report.

Goodwill

The Company is required to record certain assets it has acquired, including identifiable intangible assets such as core deposit intangibles, at fair value, which may involve making estimates based on third-party valuations, such as appraisals or internal valuations based on discounted cash flow analyses or other valuation techniques. The Company evaluates goodwill for impairment annually or whenever events or changes in circumstances indicate the carrying value of the goodwill may be impaired.

When goodwill is evaluated for impairment, if the carrying amount exceeds the fair value, an impairment charge is recorded to income. The fair value is based on observable market prices, when practicable. Other valuation techniques may be used when market prices are unavailable, including estimated discounted cash flows and market multiples analyses. These types of analyses contain uncertainties because they require management to make assumptions and to apply judgment to estimate industry economic factors and the profitability of future business strategies. In the event of future changes in fair value, the Company may be exposed to an impairment charge that could be material.

The carrying value of goodwill at June 30, 2015 was $115.3 million. For further discussion on goodwill see Note 6, “Goodwill and Core Deposit Intangibles” in Notes to Unaudited Consolidated Financial Statements contained elsewhere in this report.

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Income Taxes

The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.

Significant management judgment is required in determining income tax expense and deferred tax assets and liabilities. Some judgments are subjective and involve estimates and assumptions about matters that are inherently uncertain. In determining the valuation allowance, we use forecasted future operating results, based upon approved business plans, including a review of the eligible carry forward periods, tax planning opportunities and other relevant considerations. Management believes that the accounting estimate related to the valuation allowance is a critical accounting estimate because the underlying assumptions can change from period to period. For example, tax law changes or variances in future projected operating performance could result in a change in the valuation allowance.

The reserve for tax contingencies contains uncertainties because management is required to make assumptions and to apply judgment to estimate the exposures associated with our various tax positions. The effective income tax rate is also affected by changes in tax law, entry into new tax jurisdictions, the level of earnings and the results of tax audits.

Operating Results

Non-GAAP Financial Measures

In addition to evaluating the Company’s results of operations in accordance with GAAP, management periodically supplements this evaluation with an analysis of certain non-GAAP financial measures. These non-GAAP measures are intended to provide the reader with additional perspectives on operating results, financial condition, and performance trends, while facilitating comparisons with the performance of other financial institutions. Non-GAAP financial measures are not a substitute for GAAP measures, rather, they should be read and used in conjunction with the Company’s GAAP financial information.

The following is a reconciliation of Non-GAAP financial measures by major category for the three and six months ended June 30, 2015 and 2014:

	Three Months Ended   June 30, 2015						Six Months Ended   June 30, 2015
(In thousands)	2015			2014			2015			2014
Net income (loss) (GAAP)	$	13,332		$	(5,571	)	$	26,357		$	(4,624	)
Adjustments:
Net interest income:
(Accretion)/amortization of loan mark	(2,194		)	(3,388		)	(4,065		)	(3,388		)
Accretion/(amortization) of deposit mark	845			1,150			1,924			1,150
Accretion/(amortization) of borrowings mark	473			410			955			410
Net adjustment to net interest income	(3,512		)	(4,948		)	(6,944		)	(4,948		)
Non-interest income:
Net gain on sales of securities	(360		)	(589		)	(698		)	(857		)
Net adjustment to non-interest income	(360		)	(589		)	(698		)	(857		)
Non-interest expense:
Merger and acquisition expense	—			(20,945		)	—			(22,774		)
Core deposit intangible amortization expense	(449		)	(321		)	(930		)	(321		)
Amortization of fixed assets mark	(5		)	—			(10		)	—
Net adjustment to non-interest expense	(454		)	(21,266		)	(940		)	(23,095		)
Total adjustments	(3,418		)	15,729			(6,702		)	17,290
Income tax expense (benefit) adjustment	1,196			(4,346		)	2,346			(4,703		)
Operating net income (Non-GAAP)	$	11,110		$	5,812		$	22,001		$	7,963

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The following table is a reconciliation of Non-GAAP financial measures for select average balances, interest income and expense, and average yields and cost for the three and six month period ended June 30, 2015:

	For the Three Months Ended June 30, 2015
	GAAP						Mark to Market								Operating
(In thousands)	Average Balance		Interest and Dividends		Yield/Cost		Average Balance			Interest and Dividends			Yield/Cost		Average Balance		Interest and Dividends		Yield/Cost
Total loans	$	3,934,761	$	41,251	4.19	%	$	(12,737	)	$	2,194		0.23	%	$	3,947,498	$	39,057	3.96	%
Total interest-earning assets	5,112,581		49,917		3.91		(12,737		)	2,194			0.18		5,125,318		47,723		3.73
Time deposits	1,555,593		3,548		0.91		4,052			(845		)	(0.23	)	1,551,541		4,393		1.14
Federal Home Loan Bank advances	572,948		845		0.59		4,720			(482		)	(0.33	)	568,228		1,327		0.92
Other borrowings	160,015		1,379		3.46		(1,803		)	9			0.26		161,818		1,370		3.20
Total interest-bearing liabilities	4,263,366		7,808		0.73		6,970			(1,318		)	(0.13	)	4,256,396		9,126		0.86
Tax-equivalent net interest margin					3.30	%													3.02	%

	For the Six Months Ended June 30, 2015
	GAAP						Mark to Market								Operating
(In thousands)	Average Balance		Interest and Dividends		Yield/Cost		Average Balance			Interest and Dividends			Yield/Cost		Average Balance		Interest and Dividends		Yield/Cost
Total loans	$	3,921,485	$	81,780	4.17	%	$	(14,827	)	$	4,065		0.20	%	$	3,936,312	$	77,715	3.97	%
Total interest-earning assets	5,098,928		99,367		3.92		(14,827		)	4,065			0.18		5,113,755		95,302		3.74
Time deposits	1,549,693		6,675		0.87		4,530			(1,924		)	(0.25	)	1,545,163		8,599		1.12
Federal Home Loan Bank advances	581,630		1,667		0.58		4,965			(972		)	(0.34	)	576,665		2,639		0.92
Other borrowings	169,498		2,769		3.29		(1,807		)	17			0.06		171,305		2,752		3.23
Total interest-bearing liabilities	4,260,944		14,760		0.70		7,688			(2,879		)	(0.14	)	4,253,256		17,639		0.84
Tax-equivalent net interest margin					3.33	%													3.05	%

Executive Overview

The Company’s results were significantly impacted by the merger with Legacy United, which was completed on April 30, 2014. Net income of $13.3 million, or $0.27 per diluted share, was recorded for the second quarter of 2015 compared to a net loss of $5.6 million, or $0.13 per diluted share, for the second quarter of 2014. Operating net income for the second quarter of 2015 was $11.1 million (Non-GAAP), adjusted for $454,000 (pre-tax) of merger-related non-interest expenses, $3.5 million (pre-tax) net impact of the amortization and accretion of the fair value adjustments on loans, deposits and borrowings as a result of the merger, and $360,000 (pre-tax) net gains on sales of securities. Operating net income for the second quarter of 2014 was $5.8 million (Non-GAAP), adjusted for $21.3 million (pre-tax) of expenses related to the merger, $4.9 million (pre-tax) net impact of the amortization and accretion of the fair value adjustments on loans, deposits, and borrowings as a result of the merger, and $589,000 (pre-tax) net gains on sales of securities.

Net income for the six months ended June 30, 2015 was $26.4 million, or $0.54 per diluted share, compared to a net loss of $4.6 million, or $0.14 per diluted share, for the same period in 2014. Operating net income for the six months ended June 30, 2015 was $22.0 million (Non-GAAP), adjusted for $940,000 (pre-tax) of merger-related non-interest expenses, $6.9 million (pre-tax) net impact of the amortization and accretion of the fair value adjustments on loans, deposits and borrowings as a result of the merger, and $698,000 (pre-tax) net gains on sales of securities. Operating net income for the six months ended June 30, 2014 was $8.0 million (Non-GAAP), adjusted for $23.1 million (pre-tax) of expenses related to the merger, $4.9 million (pre-tax) net impact of the amortization and accretion of the fair value adjustments on loans, deposits, and borrowings as a result of

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the merger, and $857,000 (pre-tax) net gains on sales of securities. The Company is presenting operating net income as management believes it gives a more accurate picture of the results for the period and will benefit investors in their understanding of the Company.

Net interest income increased $4.0 million and $28.5 million for the three and six months ended June 30, 2015, compared to the same periods in 2014 due to balance sheet growth, and the additional months year over year as a combined Company. The Company’s tax-equivalent net interest margin for the three and six months ended June 30, 2015 was 3.30% and 3.33%, a decrease of 58 basis points and 29 basis points over the same periods in the prior year. Excluding the $3.5 million and $6.9 million net impact of the amortization and accretion of the fair value adjustments on loans, deposits and borrowings as a result of the merger, operating net interest margin for the three and six months ended June 30, 2015 was 3.02% and 3.05%, respectively. The general year over year trends impacting the margin include decreased yields on loans due to the low interest rate environment, partially offset by slightly higher yields on securities due to an increase in investment grade collateralized loan obligations and a re-characterization of the securities portfolio upon the acquisition of Legacy United in the second quarter of 2014.

Non-interest income increased $3.1 million and $6.7 million for the three and six months ended June 30, 2015, respectively, which was driven by strong residential mortgage origination volume in the second quarter of 2015 and an increase in loan level hedge income. As a result, income from mortgage banking activities increased $1.8 million and $3.6 million inclusive of gains on sale of loans, for the three and six months ended June 30, 2015, respectively, compared to the same periods in 2014. Service charges and fees increased over the three and six months ended June 30, 2015, respectively, by approximately $2.0 million and $4.0 million compared to the same periods in 2014.

Non-interest expense decreased $15.8 million and $3.4 million for the three and six months ended June 30, 2015, respectively, from the 2014 comparative periods, respectively. These decreases primarily reflect the fact that no merger related expenses were captured in 2015, partially offset by the increase in additional months year over year as a combined company and growth in variable costs required to generate additional loan level hedge and consumer lending revenues.

The asset quality of our loan portfolio has remained strong. While unemployment has improved over the last year at the national level, there continues to be a lag in Connecticut and the region. The allowance for loan losses to total loans ratio was 0.71% and 0.64%, the allowance for loan losses to non-performing loans ratio was 81.57% and 76.67%, and the ratio of non-performing loans to total loans was 0.87% and 0.83% at June 30, 2015 and December 31, 2014, respectively. Acquired loans are recorded at fair value with no carryover of the allowance for loan losses. As such, some asset quality measures are not comparable between periods due to the Merger. A provision for loan losses of $4.5 million and $6.0 million, respectively, was recorded for the three and six months ended June 30, 2015, compared to $2.1 million and $2.5 million for the same prior year periods, reflecting growth in our covered loan portfolio, the ongoing assessment of asset quality measures including the estimated exposure on impaired loans and organic loan growth.

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The following table presents selected financial data and ratios:

Selected Financial Data	At or For the Three Months   Ended June 30,						At or For the Six Months   Ended June 30,
(Dollars in thousands, except share data)	2015			2014			2015			2014
Share Data:
Basic net income (loss) per share	$	0.27		$	(0.13	)	$	0.54		$	(0.14	)
Diluted net income (loss) per share	0.27			(0.13		)	0.53			(0.14		)
Dividends declared per share	0.12			0.10			0.22			0.20
Key Statistics:
Total revenue	$	50,274		$	43,198		$	98,452		$	63,315
Total expense	30,357			46,177			61,014			64,434
Key Ratios (annualized):
Return on average assets	0.96		%	(0.53		)%	0.95		%	(0.28		)%
Return on average equity	8.69		%	(4.19		)%	8.66		%	(2.22		)%
Tax-equivalent net interest margin	3.30		%	3.88		%	3.33		%	3.62		%
Non-interest expense to average assets	2.19		%	4.41		%	2.21		%	3.96		%
Cost of interest-bearing deposits	0.63		%	0.46		%	0.59		%	0.50		%
Non-performing Assets:
Total non-accrual loans, excluding troubled debt restructures	$	30,028		$	14,733		$	30,028		$	14,733
Troubled debt restructures - non-accruing	5,346			4,380			5,346			4,380
Total non-performing loans	35,374			19,113			35,374			19,113
Other real estate owned	227			3,213			227			3,213
Total non-performing assets	$	35,601		$	22,326		$	35,601		$	22,326
Asset Quality Ratios:
Non-performing loans to total loans	0.87		%	0.52		%	0.87		%	0.52		%
Non-performing assets to total assets	0.63		%	0.44		%	0.63		%	0.44		%
Allowance for loan losses to non-performing loans	81.57		%	111.67		%	81.57		%	111.67		%
Allowance for loan losses to total loans	0.71		%	0.58		%	0.71		%	0.58		%
Non-GAAP Ratio:
Efficiency ratio (1)	57.36		%	57.31		%	59.04		%	64.98		%

(1) The efficiency ratio represents the ratio of non-interest expense before foreclosed property expense, amortization of intangibles, and goodwill impairments, if any, as a percent of net interest income (fully taxable equivalent) and non-interest revenues, excluding only gains from securities transactions and nonrecurring items.

Average Balances, Interest, Average Yields\Cost and Rate\Volume Analysis

The tables below sets forth average balance sheets, average yields and costs, and certain other information for the periods indicated. A tax-equivalent yield adjustment was made for the three and six months ended June 30, 2015 and 2014. All average balances are daily average balances. Loans held for sale and non-accrual loans are included in the computation of interest-earning average balances, with non-accrual loans carrying a zero yield. The yields set forth above include the effect of deferred costs, discounts and premiums that are amortized or accreted to interest income or expense.

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Average Balance Sheets for the Three Months Ended June 30, 2015 and 2014

	Three Months Ended June 30,
	2015							2014
(Dollars in thousands)	Average Balance			Interest and Dividends		Annualized Yield/Cost		Average Balance			Interest and Dividends		Annualized Yield/Cost
Interest-earning assets:
Residential real estate loans	$	1,501,850		$	12,702	3.38	%	$	1,109,696		$	9,716	3.50	%
Commercial real estate loans	1,658,734			19,614		4.74		1,365,361			18,291		5.37
Construction loans	156,114			1,841		4.73		89,948			1,804		8.05
Commercial loans	613,220			7,050		4.61		465,780			5,253		4.52
Installment and collateral loans	4,843			44		3.63		12,642			173		5.48
Total loans (1)	3,934,761			41,251		4.19		3,043,427			35,237		4.64
Securities	1,130,543			8,632		3.05		790,846			6,140		3.11
Other earning assets	47,277			34		0.29		40,602			27		0.27
Total interest-earning assets	5,112,581			49,917		3.91		3,874,875			41,404		4.28
Allowance for loan losses	(26,552		)					(19,951		)
Non-interest-earning assets	458,462							329,452
Total assets	$	5,544,491						$	4,184,376
Interest-bearing liabilities:
NOW and money market accounts	$	1,434,648		1,952		0.55		$	1,090,279		772		0.28
Saving deposits (2)	540,162			84		0.06		457,373			134		0.12
Time deposits	1,555,593			3,548		0.91		1,197,717			2,240		0.75
Total interest-bearing deposits	3,530,403			5,584		0.63		2,745,369			3,146		0.46
Advances from the Federal Home Loan Bank	572,948			845		0.59		310,946			569		0.73
Other borrowings	160,015			1,379		3.46		64,740			173		1.07
Total interest-bearing liabilities	4,263,366			7,808		0.73	%	3,121,055			3,888		0.50	%
Non-interest-bearing deposits	593,117							499,415
Other liabilities	74,305							32,307
Total liabilities	4,930,788							3,652,777
Stockholders’ equity	613,703							531,599
Total liabilities and stockholders’ equity	$	5,544,491						$	4,184,376
Net interest-earning assets (3)	$	849,215						$	753,820
Tax-equivalent net interest income				42,109							37,516
Tax-equivalent net interest rate spread (4)						3.18	%						2.78	%
Tax-equivalent net interest margin (5)						3.30	%						3.88	%
Average interest-earning assets to average interest-bearing liabilities						119.92	%						124.15	%
Less tax-equivalent adjustment				1,206							637
				$	40,903						$	36,879

(1) Total loans excludes loans held for sale and includes nonperforming loans.

(2) Includes mortgagors’ and investors’ escrow accounts.

(3) Tax-equivalent net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.

(4) Net interest rate spread represents the difference between yield on average interest-earning assets and the cost of average interest-bearing liabilities.

(5) Tax-equivalent net interest rate margin represents tax-equivalent net interest income divided by average interest-earning assets.

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Average Balance Sheets for the Six Months Ended June 30, 2015 and 2014

	Six Months Ended June 30,
	2015							2014
(Dollars in thousands)	Average Balance			Interest and Dividends		Annualized Yield/Cost		Average Balance			Interest and Dividends		Annualized Yield/Cost
Interest-earning assets:
Residential real estate loans	$	1,468,433		$	25,022	3.41	%	$	881,638		$	15,607	3.54	%
Commercial real estate loans	1,667,917			38,569		4.66		1,076,686			26,773		5.01
Construction loans	167,924			4,199		5.04		68,632			2,223		6.53
Commercial loans	611,902			13,908		4.58		358,736			7,283		4.09
Installment and collateral loans	5,309			82		3.08		7,435			195		5.24
Total loans (1)	3,921,485			81,780		4.17		2,393,127			52,081		4.37
Securities	1,128,040			17,520		3.11		615,389			9,314		3.03
Other earning assets	49,403			67		0.27		29,268			39		0.27
Total interest-earning assets	5,098,928			99,367		3.92		3,037,784			61,434		4.06
Allowance for loan losses	(25,989		)					(19,605		)
Non-interest-earning assets	453,896							236,297
Total assets	$	5,526,835						$	3,254,476
Interest-bearing liabilities:
NOW and money market accounts	$	1,423,008		3,483		0.49		$	890,384		1,324		0.30
Saving deposits (2)	537,115			166		0.06		341,017			169		0.10
Time deposits	1,549,693			6,675		0.87		893,096			3,811		0.86
Total interest-bearing deposits	3,509,816			10,324		0.59		2,124,497			5,304		0.50
Advances from the Federal Home Loan Bank	581,630			1,667		0.58		252,228			1,153		0.92
Other borrowings	169,498			2,769		3.29		55,330			225		0.82
Total interest-bearing liabilities	4,260,944			14,760		0.70	%	2,432,055			6,682		0.55	%
Non-interest-bearing deposits	586,047							380,267
Other liabilities	71,055							25,876
Total liabilities	4,918,046							2,838,198
Stockholders’ equity	608,789							416,278
Total liabilities and stockholders’ equity	$	5,526,835						$	3,254,476
Net interest-earning assets (2)	$	837,984						$	605,729
Tax-equivalent net interest income				84,607							54,752
Tax-equivalent net interest rate spread (3)						3.22	%						3.51	%
Tax-equivalent net interest margin (4)						3.33	%						3.62	%
Average interest-earning assets to average interest-bearing liabilities						119.67	%						124.91	%
Less tax-equivalent adjustment				2,361							965
				$	82,246						$	53,787

(1) Total loans excludes loans held for sale and includes nonperforming loans.

(2) Includes mortgagors’ and investors’ escrow accounts.

(3) Tax-equivalent net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.

(4) Net interest rate spread represents the difference between yield on average interest-earning assets and the cost of average interest-bearing liabilities.

(5) Tax-equivalent net interest rate margin represents tax-equivalent net interest income divided by average interest-earning assets.

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Rate\Volume Analysis

The following table presents the effects of changing rates and volumes on our net interest income for the periods indicated. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate). The net column represents the sum of the prior columns. For purposes of this table, changes attributable to changes in both rate and volume that cannot be segregated have been allocated proportionately based on the changes due to rate and the changes due to volume.

	Three Months Ended June 30, 2015 Compared to June 30, 2014								Six Months Ended June 30, 2015 Compared to June 30, 2014
	Increase (Decrease) Due to								Increase (Decrease) Due to
(In thousands)	Volume		Rate			Net			Volume		Rate			Net
Interest and dividend income:
Loans receivable	$	9,545	$	(3,531	)	$	6,014		$	32,000	$	(2,301	)	$	29,699
Securities (1)	2,595		(103		)	2,492			7,956		250			8,206
Other earning assets	5		2			7			28		—			28
Total earning assets	12,145		(3,632		)	8,513			39,984		(2,051		)	37,933
Interest expense:
NOW and money market accounts	301		879			1,180			1,038		1,121			2,159
Savings accounts	21		(71		)	(50		)	75		(78		)	(3		)
Time deposits	754		554			1,308			2,828		36			2,864
Total interest-bearing deposits	1,076		1,362			2,438			3,941		1,079			5,020
FHLBB advances	404		(128		)	276			1,069		(555		)	514
Other borrowings	480		726			1,206			1,033		1,511			2,544
Total interest-bearing liabilities	1,960		1,960			3,920			6,043		2,035			8,078
Change in tax-equivalent net interest income	$	10,185	$	(5,592	)	$	4,593		$	33,941	$	(4,086	)	$	29,855

(1) Includes FHLBB stock

Comparison of Operating Results for the Three and Six Months ended June 30, 2015 and 2014

The results from operations were impacted by costs associated with the Merger and other charges as follows:

• We did not incur merger related expenses in the first or second quarter of 2015. For the three and six months ended June 30, 2014, we recorded $20.9 million and $22.8 million of merger related expenses including legal fees, shareholder expenses and other professional services, respectively. These items were recorded as non-interest expense in the Consolidated Statements of Operations.

• We recognized net interest income of $3.5 million and $6.9 million in purchase accounting adjustments during the three and six months ended June 30, 2015. Purchase accounting adjustments for both the three and six months ended June 30, 2014 were $4.9 million, as the Merger was completed on April 30, 2014.

• We recognized $115.3 million in Goodwill as a result of the Merger.

The following discussion provides a summary and comparison of the Company’s operating results for the three and six months ended June 30, 2015 and 2014.

Net Interest Income

Net interest income is the amount that interest and fees on earning assets (loans and investments) exceeds the cost of funds, interest paid to the Company’s depositors and interest on external borrowings. Net interest margin is the difference between the income on earning assets and the cost of interest-bearing funds as a percentage of average earning assets. Growth in net interest income has resulted mainly from the merger with Legacy United combined with organic growth in interest-earning assets and liabilities.

As shown in the tables, tax-equivalent net interest income increased $4.6 million to $42.1 million for the three months ended June 30, 2015 compared to the three months ended June 30, 2014. This was mainly due to the significant increase in average earning assets and liabilities and a benefit of $3.5 million recognized during the three months ended June 30, 2015 in net interest income related to fair value adjustments as a result of the Merger. The fair value adjustments reflect amortization and accretion of credit and interest rate marks on the acquired loans, time deposits and borrowings. Additionally, the net interest margin

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decreased 58 basis points, the yield on average earning assets decreased 37 basis points, and the cost of interest-bearing liabilities increased 23 basis point for the three months ended June 30, 2015 compared to the same period in the prior year.

For the six months ended June 30, 2015, tax-equivalent net interest income increased $29.9 million from the comparative prior 2014 period. This was mainly due to the significant increase in average earning assets and liabilities and a benefit of $6.9 million recognized during the six months ended June 30, 2015 in net interest income related to fair value adjustments as a result of the Merger. The net interest margin decreased 29 basis points, the yield on average earnings assets decreased 14 basis points, and the cost of interest-bearing liabilities increased 15 basis points from the comparative six month period in 2014.

Excluding the benefit of the fair value adjustments of $3.5 million, the net interest margin and the yield on average interest-earning assets would have declined 86 basis points and 55 basis points, respectively, and the cost of interest-bearing liabilities would have increased 36 basis points for the quarter ended June 30, 2015 compared to the quarter ended June 30, 2014. For the six months ended June 30, 2015, excluding the benefit of the fair value adjustments of $6.9 million, the net interest margin and the yield on average earning assets would have declined 57 basis points and 32 basis points, respectively, and the cost of interest of interest-bearing liabilities would have increased 29 basis points compared to the six months ended June 30, 2014.

Primarily reflecting the Merger, average interest-earning assets increased $1.24 billion and $2.06 billion, respectively, for the three and six months ended June 30, 2015 compared to the same period in 2014, while average interest-bearing liabilities increased $1.14 billion and $1.83 billion, respectively.

While the Company experienced organic loan growth, the increase in the average balance of loans primarily reflects the acquired loan portfolio. The average balance of total loans for the three and six months ended June 30, 2015 was $3.93 billion billion and $3.92 billion, and had an average yield of 4.19% and 4.17%, respectively. On an operating basis, the average yield on total loans was 3.96% and 3.97% for the three and six months ended June 30, 2015, respectively. The largest increases in the average balances for loans were recorded in commercial real estate loans and residential real estate loans. For thethree and six months ended June 30, 2015 the average balance of commercial real estate loans totaled $1.66 billion and $1.67 billion, respectively, an increase of $293.4 million and $591.2 million from the prior year periods, respectively. For the three and six months ended June 30, 2015, residential real estate loans totaled $1.50 billion and $1.47 billion, respectively, an increase of $392.2 million and $586.8 million, compared to the prior year period, respectively.

The average balance of investment securities increased $339.7 million and $512.7 million, respectively, and the average yield earned on these securities decreased six and increased eight basis points, respectively, for the three and six months ended June 30, 2015, compared to the prior year period. Upon the acquisition of Legacy United’s investment securities portfolio, the Company took action to re-characterize the acquired portfolio to a position that was more closely aligned with the composition of the Rockville portfolio. The re-characterization involved the sale of longer dated investments, and the purchase of investments which will incrementally shorten the duration of the investment portfolio and that show favorable price movement to changes in rising interest rates.

The average balance of interest-bearing liabilities increased $1.14 billion to $4.26 billion for the three months ended June 30, 2015 compared to the three months ended June 30, 2014, and the average balance of interest bearing liabilities increased $1.83 billion to $4.26 billion for the six months ended June 30, 2015 compared to the prior year period. For the quarter, the average cost of interest-bearing liabilities was 0.73%, an increase of 23 basis points from the comparable prior year period. On an operating basis, which excludes the benefit of fair value adjustments, the average cost would have increased to 0.86%. For the six months ended June 30, 2015, the average cost of interest-bearing liabilities was 0.70%, an increase of 15 basis points, from the comparable prior year period. On an operating basis, which excludes the benefit of fair value adjustments, the average cost would have increased to 0.84%.

For the three and six months ended June 30, 2015, the average balance of total interest-bearing deposits increased $785.0 million and $1.39 billion, and the average cost increased 17 basis points and nine basis points, FHLBB advances increased $262.0 million and $329.4 million, while the average cost decreased 14 basis points and 34 basis points, other borrowings increased $95.3 million and $114.2 million, and the cost increased 239 basis points and 247 basis points, respectively. These increases were primarily due to balances acquired from Legacy United. The increase in FHLBB advances was additionally due to funding new loan growth and the increase in other borrowings was due to the Company’s issuance of $75.0 million ten year subordinated notes with a coupon rate of 5.75%.

Net interest income is affected by changes in interest rates, loan and deposit pricing strategies, competitive conditions, the volume and mix of interest-earning assets and interest-bearing liabilities as well as the level of non-performing assets, the Company manages the risk of changes in interest rates on its net interest income through an Asset/Liability Management Committee and through related interest rate risk monitoring and management policies.

Provision for Loan Losses

The provision for loan losses is a charge to earnings in an amount sufficient to maintain the allowance for loan losses at a level deemed adequate by the Company. The level of the allowance is a critical accounting estimate, which is subject to uncertainty.

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The loans purchased from Legacy United were recorded at fair value at the time of the Merger, with no carryover of the allowance for loan losses, and included adjustments for market interest rates and expected credit losses. Increases in the probable loss related to the Legacy United loans plus all new loans are included in the calculation of the required allowance for loan losses at June 30, 2015.

Management evaluates the adequacy of the allowance for loan losses on a quarterly basis. The adequacy of the loan loss allowance is based on such interrelated factors as the composition of the loan portfolio and its inherent risk characteristics, the level of non-performing loans and charge-offs, both current and historic, local economic and credit conditions, the direction of real estate values, and regulatory guidelines. The provision is charged against earnings in order to maintain an allowance for loan losses that reflects management’s best estimate of probable losses inherent in the loan portfolio at the balance sheet date.

Management recorded a provision of $4.5 million for the three months ended June 30, 2015 compared to $2.1 million for the same period of 2014. The primary factors that influenced management’s decision to record these provision expenses were organic growth during the period, the ongoing assessment of estimated exposure on impaired loans, level of delinquencies, and general economic conditions. Impaired loans totaled $46.4 million at June 30, 2015 compared to $44.0 million at December 31, 2014, an increase of $2.4 million, or 5.4%, reflecting increases in nonaccrual loans of $3.0 million, inclusive of troubled debt restructured (“TDR”) loans of $1.2 million. At June 30, 2015, the allowance for loan losses totaled $28.9 million, representing 0.71% of total loans and 81.57% of non-performing loans compared to an allowance for loan losses of $24.8 million, which represented 0.64% of total loans and 76.67% of non-performing loans as of December 31, 2014. These ratios are lower than the Company’s historic coverage ratios and directly resulted from the effect of purchase accounting adjustments as there is no carryover of the allowance for loan losses on acquired loans. The repayment of these impaired loans is largely dependent upon the sale and value of collateral that may be impacted by current real estate conditions.

Non-interest Income

Total non-interest income was $9.4 million and $16.2 million for the three and six months ended June 30, 2015, with non-interest income representing 18.6% and 16.5% of total net revenues, respectively. The Merger with Legacy United on April 30, 2014 continued to have an impact on operating results as the three and six months ended June 30, 2015 had one and four more months of activity, respectively, as compared to the prior year periods. The following is a summary of non-interest income by major category for the three and six months ended June 30, 2015 and 2014:

	For the Three Months Ended June 30,										For the Six Months Ended June 30,
(Dollars in thousands)	2015			2014		$ Change			% Change		2015			2014		$ Change			% Change
Service charges and fees	$	5,643		$	3,636	$	2,007		55.2	%	$	9,474		$	5,522	$	3,952		71.6	%
Net gains from sales of securities	360			589		(229		)	(38.9	)	698			857		(159		)	(18.6	)
Income from mortgage banking activities	2,990			1,236		1,754			141.9		5,361			1,791		3,570			199.3
Bank-owned life insurance income	830			750		80			10.7		1,664			1,272		392			30.8
Net loss on limited partnership investments	(916		)	—		(916		)	—		(1,346		)	—		(1,346		)	(100.0	)
Other, net	464			108		356			329.6		355			86		269			(312.8	)
Total non-interest income	$	9,371		$	6,319	$	3,052		48.3	%	$	16,206		$	9,528	$	6,678		70.1	%

As displayed in the above table, non-interest income increased $3.1 million and $6.7 million for the three and six months ended June 30, 2015, respectively. The increases from the prior year periods are mainly due to increases in service charges and fees and income for mortgage banking activities.

Service Charges and Fees: Service charges and fees were $5.6 million and $9.5 million for the three and six months ended June 30, 2015, respectively, an increase of 55.2% and 71.6% from the comparable 2014 periods. The increases were due primarily to the Company’s loan level hedge program that is offered to certain commercial banking customers to facilitate their respective risk management strategies. Other categories that experienced significant increases were recorded in debit card fees, NSF fees and loan account analysis fees, related to increased volume. These increases were partially offset by decreases in revenue produced by the Company’s investment advisory subsidiary, United Northeast Financial Advisors, Inc.

Net Gains From Sales of Securities: For the three and six months ended June 30, 2015, the Company recorded $360,000 and $698,000 in net gains on security sales compared to $589,000 and $857,000 in the same period in the prior year, respectively. The gains recorded in 2015 are a result of (a) the Company repositioning certain securities as these securities became punitive to capital to hold on a go forward basis due to regulatory changes on holding these type of securities, (b) sales on certain 15 year pass thru mortgage-backed securities due to a change in the yield curve, (c) sales of municipal bonds that were expected to be called in 2015, 2016 or 2017, and (d) the result of odd lot clean-ups targeted at making the portfolio more efficient to manage

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from an operational perspective. The gains recorded in 2014 reflect the Company evaluating the portfolio for prepayment risk and acting to reduce this exposure.

Income From Mortgage Banking Activities: Income from mortgage banking activities was $3.0 million and $5.4 million for the three and six months ended June 30, 2015, respectively, an increase of $1.8 million and $3.6 million from the comparable periods of 2014. This increase was driven by (a) gains on the sale of loans as the Company recorded strong residential mortgage origination volume in the first half of 2015, and (b) increases in the mortgage servicing rights valuation due to increases in the treasury rates coupled with an increase in overall loan sales. These increases were partially offset by a net decrease in derivative rate lock commitments and forward loan sale contracts fair value adjustments.

BOLI Income: For the three and six months ended June 30, 2015, the Company recorded BOLI income of $830,000 and $1.7 million, compared to $750,000 and $1.3 million in the same period in the prior year, an increase of $80,000, or 10.7% and $392,000 or 30.8%, respectively. This increase was predominantly attributable to the Merger as the Company recorded $359,000 and $717,000 of income for the three and six months ended June 30, 2015 from policies associated with Legacy United, compared to $258,000 for the three and six months ended June 30, 2014. The increases were partially offset by a decline in the average yield earned on the BOLI policies as a result of current market interest rates.

Net loss on limited partnership investments: In conjunction with its merger with Legacy United, the Company acquired investments in partnerships, including low income housing tax credit and new markets housing tax credit partnerships. Additionally, the Company invested in a tax credit partnership associated with alternative energy as it allows the Company to receive cash flows and qualify for federal renewable energy tax benefits.

For the three and six months ended June 30, 2015, the Company recorded a net loss of $916,000 and $1.3 million, respectively, on limited partnership investments. Approximately $335,000 of the $916,000 loss is related to the tax credit partnerships for alternative energy and $581,000 is related to acquired investments in other partnerships. Of the $1.3 million loss, approximately $873,000 is related to the tax credit partnerships for alternative energy and $473,000 is related to acquired investments in other partnerships. In conjunction with the loss realized on the new tax credit partnership, the Company recorded an offsetting benefit of $2.4 million as reflected in the tax provision for the quarter, and $4.7 million for the six months ended June 30, 2015.

Other income: The Company recorded other income of $464,000 and $355,000 for the three and six months ended June 30, 2015, respectively, an increase of $356,000 and $269,000 from the prior year periods. The increase is primarily due to the significant increase in the credit value adjustments on borrower facing loan level hedges, partially offset by by losses recorded on the sale of fixed assets. Additionally, the increase for the three months ended June 30, 2015 was due to gains on the sale of other real estate owned compared to losses realized in the prior year period.

Non-interest Expense

Non-interest expense decreased $15.8 million to $30.4 million for the three months ended June 30, 2015, and $3.4 million to $61.0 million for the six months ended June 30, 2015. The Company experienced increases in all categories except for other real estate owned and merger and acquisition expenses for the six month period. For the three month period decreases were incurred for service bureau fees, professional fees, other real estate owned and merger and acquisition expense. Merger and acquisition expenses were not incurred subsequent to December 31, 2014. The largest increases were recorded in salaries and employee benefits, occupancy and equipment and other expenses. All of the categories that increased from the prior period were related to the Merger. The Merger with Legacy United on April 30, 2014 continued to have an impact on results as the three and six months ended June 30, 2015 consisted of one and four more months of activity, respectively, as compared to the prior year periods.

For the three months ended June 30, 2015 and 2014, annualized non-interest expense represented 2.19% and 4.41% of average assets, respectively, while annualized non-interest expense represented 2.21% and 3.96% of average assets for the six months ended June 30, 2015 and 2014, respectively. The following table summarizes non-interest expense for the three and six months ended June 30, 2015 and 2014:

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	For the Three Months Ended June 30,									For the Six Months Ended June 30,
(Dollars in thousands)	2015		2014		$ Change			% Change		2015		2014		$ Change			% Change
Salaries and employee benefits	$	16,595	$	14,541	$	2,054		14.1	%	$	33,167	$	24,783	$	8,384		33.8	%
Service bureau fees	1,466		1,768		(302		)	(17.1	)	3,286		2,859		427			14.9
Occupancy and equipment	3,799		2,610		1,189			45.6		8,257		4,308		3,949			91.7
Professional fees	782		856		(74		)	(8.6	)	1,699		1,284		415			32.3
Marketing and promotions	620		280		340			121.4		1,256		509		747			146.8
FDIC insurance assessments	823		632		191			30.2		1,901		950		951			100.1
Other real estate owned	62		125		(63		)	(50.4	)	177		433		(256		)	(59.1	)
Core deposit intangible amortization	449		321		128			39.9		930		321		609			189.7
Merger and acquisition expense	—		20,945		(20,945		)	(100.0	)	—		22,774		(22,774		)	(100.0	)
Other	5,761		4,099		1,662			40.5		10,341		6,213		4,128			66.4
Total non-interest expense	$	30,357	$	46,177	$	(15,820	)	(34.3	)%	$	61,014	$	64,434	$	(3,420	)	(5.3	)%

Salaries and Employee Benefits: Salaries and employee benefits was $16.6 million for the three months ended June 30, 2015, an increase of $2.1 million from the comparable 2014 period. Salaries and employee benefits was $33.2 million for the six months ended June 30, 2015, an increase of $8.4 million from the comparable 2014 period.

Salaries and employee benefits account for the largest increase in non-interest expense. Salary expense was one of the primary drivers for both the three and six months ended June 30, 2015, as additional employees from Legacy United were added to the payroll. Other factors driving the increase included (a) new hires that were part of the restructured management team and the addition of new revenue producing commission-based mortgage and commercial loan officers; (b) increased incentives for employees for product sales; (c) increased pension expenses; (d) increased contribution expense associated with the merged 401(k) and ESOP Plans and (e) increased health care costs related to the Company’s self-insurance plan for the six months ended June 30, 2015.

These increases were partially offset by (a) decreases to various other employee benefits expenses and (b) increases in deferred expenses from originating loans, the average cost of which increased based on a cost study analysis.

Service Bureau Fees: Service bureau fees decreased $302,000 for the three months ended June 30, 2015, and increased $427,000 for the six months ended June 30, 2015 compared to the 2014 period. The increase for the sixth months ending June 30, 2015 is a direct result of the Merger. The Company only completed its system conversion of the two operating platforms in October 2014, thus the prior year period represents costs only for legacy Rockville until the Merger in April. Additionally, increases were recorded related to ATM servicing fees and perimeter security service fees for the six months ended June 30, 2015 over the prior year period.

The decrease in the three months ended June 30, 2015, however, is due to the fact that the Company incurred costs for both legacy Rockville and legacy United core operating systems for two months of the prior year period, whereas in this period the Company only incurred costs for one core operating system. Furthermore, the Company was able to secure pricing discounts as a result of our relationship with the vendor during the period.

Occupancy and Equipment: Occupancy and equipment expense was $3.8 million and $2.6 million for the three months ended June 30, 2015 and 2014, respectively, an increase of $1.2 million. For the six months ended June 30, 2015, occupancy and equipment increased $3.9 million to $8.3 million from the same period in the prior year. Occupancy and equipment expense increased as the Company added over 30 branches to our branch network with the Merger.

Professional Fees: For the three months ended June 30, 2015, the Company recorded a nominal decrease of $74,000 to $782,000. For the six months ended June 30, 2015, the Company recorded professional fees of $1.7 million, an increase of $415,000 from the prior year period. The increase is a consequence of the Merger as the Company entered into consulting contracts which incurred additional expenses for a review of the Company’s compensation plans and to outsourced internal audit expenses.

Marketing and Promotions: Marketing and promotion expense was $620,000 and $280,000 for the three months ended June 30, 2015 and 2014, respectively, an increase of $340,000. For the six months ended June 30, 2015, marketing and promotions increased $747,000 to $1.3 million from the same period in the prior year. These increases are attributable to the Company increasing print and billboard advertising for targeted promotional campaigns during the period, as well as contracting with a marketing research company beginning in the fourth quarter of 2014. These increases were slightly offset by a decrease in agency fees over the prior year periods.

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FDIC Insurance Assessments: The expense for FDIC insurance assessments increased $191,000 to $823,000 for the three months ended June 30, 2015 compared to the 2014 period, while the expense increased $951,000 to $1.9 million for the six months ended June 30, 2015 compared to the prior year period. Theses increases are primarily attributable to the Merger as the Company’s assessment base increased approximately $2.97 billion and to a lesser extent are due to an increase in the assessment rate.

Core Deposit Intangible Amortization: The $128,000 and $609,000 increase in core deposit intangible amortization for the three and six months ended June 30, 2015, respectively, are directly attributable to the Merger. The Company is amortizing the core deposit intangible of $10.6 million over 10 years using the sum-of-the-years-digits method.

Merger and Acquisition Expense: The Company did not record any merger and acquisition expenses during the first six months of 2015 as these expenses were not incurred after December 31, 2014. This represents the most significant change to non-interest expense compared to the prior periods in 2014. Merger and acquisition expense decreased $20.9 million and $22.8 million for the three and six months ended June 30, 2015.

Other Expenses: For the three and six months ended June 30, 2015, other expenses recorded by the Company were $5.8 million and $10.3 million, respectively, an increase of $1.7 million and $4.1 million from the comparable 2014 periods. The increases are primarily due to the Merger which impacted several accounts in this category including: (a) postage; (b) telephone; (c) software maintenance expense; (d) director restricted stock expense; (e) collection expense; (f) debit card and ATM losses; (g) mortgage appraisal and credit reports; and (h) printing and forms. Loan swap fees also contributed to the increase, as the Company entered into more of these types of agreements in the three and six months ended June 30, 2015 as compared to the prior year periods. These increases were partially offset by a decrease in the provision for off-balance sheet assets due to the decrease in commercial and residential construction loans, as well as a decrease in website expenses compared to the prior periods.

Income Tax Provision

The provision for income taxes was $2.1 million and $512,000 for the three months ended June 30, 2015 and 2014, respectively. The Company’s estimated annualized effective tax rate for the three months ended June 30, 2015 was 13.7% as compared to (10.1)% for the same period in 2014. The provision for income taxes was $5.1 million and $975,000 for the six months ended June 30, 2015 and 2014, respectively. The Company’s estimated annualized effective tax rate for this period was 16.2% as compared to (26.7)% for the same period in 2014. The increase in the tax expense and the effective tax rate is primarily due to the lower pretax income in the second quarter of 2014 due to the Merger. The effective tax rate for June 30, 2015 differs from combined statutory rates as a result of favorable permanent differences for tax exempt income, BOLI, and investment tax credits, as well as reduced state tax expense due to tax planning. The effective tax rate as of June 30, 2015 approximates the projected 2015 effective tax rate between 18-20%.

The Company continually monitors and evaluates the potential impact of current events and circumstances on the estimates used in the analysis of its income tax positions, and accordingly, the Company’s effective tax rate may fluctuate in the future. The Company evaluates its income tax positions based on tax laws and appropriate regulations and financial reporting considerations, and records adjustments as appropriate. This evaluation takes into consideration the status of current taxing authorities’ examinations of the Company’s tax returns and recent positions taken by the taxing authorities on similar transactions, if any. Accordingly, the results of these examinations may alter the timing or amount of taxable income or deductions taken by the Company.

Financial Condition, Liquidity and Capital Resources

Summary

The Company had total assets of $5.68 billion at June 30, 2015 and $5.48 billion at December 31, 2014, an increase of $203.9 million, or 3.7%, primarily due to the increase in net loans of $171.7 million, loans held for sale of $19.8 million, $8.9 million of available for sale securities, and principally government-sponsored residential collateralized debt obligations. The Company utilized deposit growth to fund the growth in securities and loans.

Total net loans of $4.05 billion, with allowance for loan and lease losses of $28.9 million at June 30, 2015, increased $171.7 million when compared to total net loans of $3.88 billion, with allowance for loan losses of $24.8 million at December 31, 2014. Net loans increased primarily due to growth in residential mortgage balances, commercial real estate loans and commercial business loans, partially offset by declines in commercial construction loans.

Total deposits of $4.18 billion at June 30, 2015 increased $146.9 million, or 3.6%, when compared to total deposits of $4.04 billion at December 31, 2014. The increase in deposits is mainly due to growth in money market deposits, NOW accounts and certificates of deposit and is reflective of the Company’s new product specials, the opening of new branches and a continued focus on building commercial relationships. The Bank’s net loan-to-deposit ratio was 96.8% at June 30, 2015, compared to 96.1% at December 31, 2014.

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At June 30, 2015, total equity of $612.0 million increased $9.6 million when compared to total equity of $602.4 million at December 31, 2014. The change in equity for the period-ended June 30, 2015 consisted primarily of year to date net income offset by dividends paid to common shareholders and share repurchases completed during the first quarter of 2015. At June 30, 2015, the tangible common equity ratio was 8.79% compared to 8.93% at December 31, 2014.

See Note 11, “Regulatory Matters” in Notes to Unaudited Consolidated Financial Statements contained elsewhere in this report for information on the Bank and the Company’s regulatory capital levels and ratios.

Securities

The Company maintains a securities portfolio that is primarily structured to generate interest income, manage interest-rate sensitivity, and provide a source of liquidity for operating needs. The securities portfolio is managed in accordance with regulatory guidelines and established internal corporate investment policies.

The following table sets forth information regarding the amortized cost and fair value of the Company’s investment portfolio at the dates indicated:

Securities

	June 30, 2015				December 31, 2014
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Available for sale:
Debt securities:
U.S. Government and government-sponsored enterprise obligations	$	10,630	$	10,464	$	6,965	$	6,822
Government-sponsored residential mortgage-backed securities	126,865		126,125		165,199		167,419
Government-sponsored residential collateralized debt obligations	280,162		280,889		237,128		238,133
Government-sponsored commercial mortgage-backed securities	54,111		54,472		67,470		68,298
Government-sponsored commercial collateralized debt obligations	133,795		134,440		129,547		129,686
Asset-backed securities	162,957		163,182		181,198		178,755
Corporate debt securities	52,472		50,532		43,907		42,245
Obligations of states and political subdivisions	215,725		211,605		194,857		195,772
Total debt securities	1,036,717		1,031,709		1,026,271		1,027,130
Marketable equity securities, by sector:
Banks	26,846		26,960		22,645		22,582
Industrial	109		166		109		185
Mutual funds	2,840		2,913		2,824		2,910
Oil and gas	131		179		131		204
Total marketable equity securities	29,926		30,218		25,709		25,881
Total available for sale securities	$	1,066,643	$	1,061,927	$	1,051,980	$	1,053,011
Held to maturity:
Debt securities:
Obligations of states and political subdivisions	$	12,379	$	13,058	$	12,397	$	13,403
Government-sponsored residential mortgage-backed securities	2,613		2,920		2,971		3,310
	$	14,992	$	15,978	$	15,368	$	16,713

During the first six months of 2015, the available for sale securities portfolio increased by $8.9 million to $1.1 billion, representing 18.7% of total assets at June 30, 2015, from $1.1 billion and 19.2% of total assets at December 31, 2014. The increase is largely reflective of continued execution of the Company’s barbell management strategy, with bond purchases focused on maintaining investment portfolio duration while adding diversification to the portfolio holdings. Portfolio activity during the first quarter included bond repositioning with the Federal Family Education Loan Program (“FFELP”) portfolio in order to

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obtain better risk adjusted returns, a reduction of shorter dated pass-throughs given anticipated prepays, and the purchases of cash flowing government sponsored collateralized mortgage backed obligations. Portfolio activity in the second quarter primarily included bond repositioning within several smaller odd-lots in order to make portfolio management more efficient. The Company limits purchases in the municipal bonds, collateralized loan obligations and corporate bonds sectors to investment grade or better rating prior to purchase. Furthermore, the Company limits its exposure to position parameters and will review the impact on the portfolio from periodic issuer disclosures, as well as developing market trends.

Accounting guidance requires the Company to designate its securities as held to maturity, available for sale, or trading depending on the Company’s intent regarding its investments at the time of purchase. The Company does not currently maintain a portfolio of trading securities. As of June 30, 2015, $1.06 billion, or 98.6% of the portfolio, was classified as available for sale, and $15.0 million of the portfolio was classified as held to maturity.

During the three and six months ended June 30, 2015, the Company recorded no write-downs for other-than-temporary impairments of its available for sale securities. The Company held $554.6 million in securities that are in an unrealized loss position at June 30, 2015; $474.3 million of this total had been in an unrealized loss position for less than twelve months with the remaining $80.3 million in an unrealized loss position for twelve months or longer. These securities were evaluated by management and were determined not to be other-than-temporarily impaired. The Company does not have the intent to sell these securities, and it is more-likely-than-not that it will not have to sell the securities before the recovery of their cost basis. To the extent that changes in interest rates, credit movements and other factors that influence the fair value of securities continue, the Company may be required to record additional impairment charges for other-than-temporary impairment in future periods. For additional information on the securities portfolio, see Note 3, “Securities” in the Notes to Unaudited Consolidated Financial Statements contained elsewhere in this report.

The Company monitors investment exposures continually, performs credit assessments based on market data available at the time of purchase, and performs ongoing credit due diligence for all collateralized loan obligations, corporate bonds, and municipal securities. The Company’s investment portfolio is regularly monitored for performance enhancements and interest rate risk profiles, with dynamic strategies implemented accordingly.

The Company has the ability to use the investment portfolio, as well as interest-rate financial instruments within internal policy guidelines, to hedge and manage interest-rate risk as part of its asset/liability strategy. See Note 8, “Derivatives and Hedging Activities,” in the Notes to Unaudited Consolidated Financial Statements contained elsewhere in this report for additional information concerning derivative financial instruments.

Lending Activities

The Company makes commercial real estate loans, residential real estate loans secured by one-to-four family residences, residential and commercial construction loans, commercial business loans, multi-family loans, home equity loans and lines of credit and other consumer loans. The table below displays the balances of the Company’s loan portfolio as of June 30, 2015 and December 31, 2014:

Loan Portfolio Analysis

	June 30, 2015					December 31, 2014
(Dollars in thousands)	Amount			Percent		Amount			Percent
Real estate loans:
Residential	$	1,501,813		36.9	%	$	1,413,739		36.3	%
Commercial	1,763,751			43.3		1,678,936			43.1
Construction	166,768			4.1		185,843			4.8
Total real estate loans	3,432,332			84.3		3,278,518			84.2
Commercial business loans	634,529			15.6		613,596			15.7
Installment and collateral loans	5,206			0.1		5,752			0.1
Total loans	4,072,067			100.0	%	3,897,866			100.0	%
Net deferred loan costs and premiums	5,559					4,006
Allowance for loan losses	(28,856		)			(24,809		)
Loans - net	$	4,048,770				$	3,877,063

As shown above, gross loans were $4.07 billion, an increase of $174.2 million, or 4.5%, at June 30, 2015 from year-end 2014.

Commercial real estate loans represent the largest segment of our loan portfolio at 43.3% of total loans and increased $84.8 million to $1.76 billion from December 31, 2014, reflecting increased production from the Company’s recently expanded

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commercial banking division. This division continues to experience momentum in origination activity and has a strong loan pipeline. Mid-sized businesses continue to look to community banks for relationship banking and personalized lending services.

Residential real estate loans continue to represent a major segment of the Company’s loan portfolio as of June 30, 2015, comprising 36.9% of total loans. The increase of $88.1 million from December 31, 2014 reflects net organic growth during the quarter. The Company had originations of both adjustable and fixed rate mortgages of $371.5 million during the first half of the year, reflecting both refinancing activity and loans for new home purchases.

The Company opportunistically sells a majority of its originated fixed rate residential real estate loans with terms of 15 to 30 years. The strong mortgage origination activity was driven by our increased number of loan officers, the quality of referrals they receive from centers of influence in the real estate market, the responsiveness we have to prospective mortgage customers and the interest rate environment.

Construction real estate loans totaled $166.8 million at June 30, 2015, a decrease of $19.1 million from December 31, 2014. Construction real estate loans consist of residential construction and commercial construction. Residential real estate construction loans are made to individuals for home construction whereby the borrower owns the parcel of land and the funds are advanced in stages until completion. Residential real estate construction loans totaled $24.3 million at June 30, 2015 compared to $13.2 million at December 31, 2014.

Commercial real estate construction loans are made for developing commercial real estate properties such as office complexes, apartment buildings and residential subdivisions. Total commercial real estate construction loans totaled $142.5 million at June 30, 2015, approximately $45.5 million of which is residential use and $97.0 million is commercial use, compared to total commercial real estate construction loans of $172.6 million at December 31, 2014, $50.2 million of which was residential use and $122.4 million was commercial use.

Commercial business loans increased to $634.5 million at June 30, 2015 from $613.6 million at year-end. This category includes production from the Shared National Credit program. These loans generate earning assets to increase profitability of the Bank and diversify commercial loan portfolios by providing opportunities to participate in loans to borrowers in other regions or industries the Bank might otherwise have no access.

The Bank has employed specific parameters taking into account: geographical considerations; exposure hold levels; qualifying financial partners; and most importantly sound credit quality with strong metrics. A thorough independent analysis of the credit quality of each borrower is made for every transaction whether it is an assignment or participation.

Asset Quality

United’s lending strategy focuses on direct relationship lending within its primary market area as the quality of assets underwritten is an important factor in the successful operation of a financial institution. Non-performing assets, loan delinquency and credit loss levels are considered to be key measures of asset quality. Management strives to maintain asset quality through its underwriting standards, servicing of loans and management of non-performing assets since asset quality is a key factor in the determination of the level of the allowance for loan losses (“ALL”). See Note 4, “Loans Receivable and Allowance for Loan Losses” contained elsewhere in this report for further information concerning the Allowance for Loan Losses.

The following table details asset quality ratios for the following periods:

Asset Quality Ratios

	At June 30, 2015		At December 31, 2014
Non-performing loans as a percentage of total loans	0.87	%	0.83	%
Non-performing assets as a percentage of total assets	0.63	%	0.63	%
Net charge-offs as a percentage of average loans (1)	0.20	%	0.12	%
Allowance for loan losses as a percentage of total loans	0.71	%	0.64	%
Allowance for loan losses to non-performing loans	81.57	%	76.67	%

(1) Calculated based on year to date net charge-offs annualized

Non-performing Assets

Generally loans are placed on non-accrual if collection of principal or interest in full is in doubt, if the loan has been restructured, or if any payment of principal or interest is past due 90 days or more. A loan may be returned to accrual status if it has demonstrated sustained contractual performance for six continuous months or if all principal and interest amounts contractually due are reasonably assured of repayment within a reasonable period. There are, on occasion, circumstances that cause commercial loans to be placed in the 90 days delinquent and accruing category, for example, loans that are considered to

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be well secured and in the process of collection or renewal. As of June 30, 2015 and December 31, 2014, loans totaling $830,000 and $4.8 million, respectively, were greater than 90 days past due and accruing, which represent purchased credit impaired loans from Legacy United for which an accretable fair value interest mark is being recognized and certain loans which management has evaluated and maintained on accrual status based on an evaluation of the borrower. At December 31, 2014, there was also a loan fully guaranteed by the U.S. Government past due 90 days or more and still accruing.

The following table details non-performing assets for the periods presented:

	At June 30, 2015				At December 31, 2014
(Dollars in thousands)	Amount		%		Amount		%
Non-accrual loans:
Real estate loans:
Residential	$	12,377	34.76	%	$	12,018	34.74	%
Commercial	10,989		30.87		10,663		30.82
Construction	1,334		3.75		611		1.77
Commercial business loans	5,315		14.93		4,872		14.08
Installment and collateral loans	13		0.04		25		0.07
Total non-accrual loans, excluding troubled debt restructured loans	30,028		84.35		28,189		81.48
Troubled debt restructurings - non-accruing	5,346		15.01		4,169		12.05
Total non-performing loans	35,374		99.36		32,358		93.53
Other real estate owned	227		0.64		2,239		6.47
Total non-performing assets	$	35,601	100.00	%	$	34,597	100.00	%

As displayed in the table above, non-performing assets at June 30, 2015 increased to $35.6 million compared to $34.6 million at December 31, 2014.

Non-accruing troubled debt restructured loans increased by $1.2 million since December 31, 2014, primarily due to an increase of $3.0 million for residential real estate troubled debt restructured loans, partially offset by a decrease in commercial real estate troubled debt restructured loans of $1.9 million. The increase in the residential real estate category reflects, in part, an increase in the number of home equity line of credit loans that have reached maturity and converted from interest only to principal and interest payments. Difficulty making these larger payments combined with a decline in home values related to these loans, is a driver of this increase. There has also been a slight shift from accrual to non-accrual status in residential real estate TDR loans. The decrease in commercial real estate loans reflects work-out efforts and charge-offs.

Residential real estate non-accrual loans increased $359,000 to $12.4 million at June 30, 2015. The Company continues to originate loans with strong credit characteristics and routinely updates non-performing loans in terms of FICO scores and LTV ratios. Through continued heightened account monitoring, collections and workout efforts, the Bank is committed to mortgage solution programs designed to assist homeowners to remain in their homes. As has been its practice historically, the Company does not originate subprime loans.

Commercial real estate non-accrual loans increased $326,000 and commercial business non-accrual loans increased $443,000.

Non-accrual construction loans increased $723,000, primarily reflecting four commercial relationships totaling $1.3 million, of which $974,000 relates to construction for residential subdivisions.

Troubled Debt Restructuring

Loans are considered restructured in a troubled debt restructuring when the Company has granted concessions to a borrower due to the borrower’s financial condition that it otherwise would not have considered. These concessions include modifications of the terms of the debt such as reduction of the stated interest rate other than normal market rate adjustments, extension of maturity dates, or reduction of principal balance or accrued interest. The decision to restructure a loan, versus aggressively enforcing the collection of the loan, may benefit the Company by increasing the ultimate probability of collection.

Restructured loans are classified as accruing or non-accruing based on management’s assessment of the collectability of the loan. Loans which are already on non-accrual status at the time of the restructuring generally remain on non-accrual status for a minimum of six months before management considers such loans for return to accruing TDR status. Accruing restructured loans are placed into non-accrual status if and when the borrower fails to comply with the restructured terms and management deems it unlikely that the borrower will return to a status of compliance in the near term. Once a loan is classified as a TDR it retains that classification for the life of the loan; however, some TDRs may demonstrate acceptable performance allowing the

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TDR loan to be placed on accruing TDR status. The increase in TDRs is primarily attributable to the addition of two loans restructured as TDR during the six months ended June 30, 2015, partially offset by paydowns and payoffs.

The following table provides detail of TDR balances for the periods presented:

(In thousands)	At June 30, 2015		At December 31, 2014
Recorded investment in TDRs:
Accrual status	$	10,985	$	11,638
Non-accrual status	5,346		4,169
Total recorded investment	$	16,331	$	15,807
Accruing TDRs performing under modified terms for more than one year	$	5,153	$	1,919
TDR allocated reserves included in the balance of allowance for loan losses	87		380
Additional funds committed to borrowers in TDR status	44		210

At June 30, 2015, the Company had impaired loans that had $1.2 million committed to be advanced.

The following table provides detail of TDR activity for the periods presented:

	Three Months Ended   June 30,						Six Months Ended   June 30,
(In thousands)	2015			2014			2015			2014
TDRs, beginning of period	$	15,913		$	14,219		$	15,807		$	10,216
New TDR status	4,480			1,287			4,755			5,547
Paydowns/draws on existing TDRs, net	(3,600		)	(1,342		)	(3,769		)	(1,599		)
Charge-offs post modification	(462		)	—			(462		)	—
TDRs, end of period	$	16,331		$	14,164		$	16,331		$	14,164

Allowance for Loan Losses

The allowance for loan losses (“ALL”) and the reserve for unfunded credit commitments are maintained at a level estimated by management to provide for probable losses inherent within the loan portfolio. Probable losses are estimated based upon a quarterly review of the loan portfolio, which includes historic default and loss experience, specific problem loans, risk rating profile, economic conditions and other pertinent factors which, in management’s judgment, warrant current recognition in the loss estimation process. The Company’s Risk Management Committee meets quarterly to review and conclude on the adequacy of the reserves and to present their recommendation to executive management and the Board of Directors.

Management considers the adequacy of the ALL a critical accounting estimate. The adequacy of the ALL is subject to considerable assumptions and judgment used in its determination. Therefore, actual losses could differ materially from management’s estimate if actual conditions differ significantly from the assumptions utilized. These conditions include economic factors in the Company’s market and nationally, industry trends and concentrations, real estate values and trends, and the financial condition and performance of individual borrowers. While management believes the ALL is adequate as of June 30, 2015, actual results may prove different and the differences could be significant.

The Company’s general practice is to identify problem credits early and recognize full or partial charge-offs as promptly as practicable when it is determined that the collection of loan principal is unlikely. The Company recognized full or partial charge-offs on collateral dependent impaired loans when the collateral is deemed to be insufficient to support the carrying value of the loan. The Company does not recognize a recovery when an updated appraisal indicates a subsequent increase in value.

The Company had a loan loss allowance of $28.9 million, or 0.71%, of total loans at June 30, 2015 as compared to a loan loss allowance of $24.8 million, or 0.64%, of total loans at December 31, 2014. Management believes that the allowance for loan losses is adequate and consistent with asset quality indicators and that it represents the best estimate of probable losses inherent in the loan portfolio.

The unallocated portion of the ALL represents general valuation allowances that are not allocated to a specific loan portfolio. The unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses and reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. The unallocated portion of the ALL at June 30, 2015 increased $339,000 to $450,000 compared to December 31, 2014. See Note 4, “Loans Receivable and Allowance for Loan Losses” in the Notes to the Unaudited Consolidated Financial Statements contained elsewhere in this report for a table providing the activity in the Company’s allowance for loan losses for the three and six months ended June 30, 2015 and 2014.

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In addition to the ALL, the Company maintains a reserve for unfunded credit commitments in other liabilities on the Consolidated Statements of Condition. The allowance for credit losses analysis includes consideration of the risks associated with unfunded loan commitments. The reserve calculation includes factors that are consistent with ALL methodology for funded loans. The combination of ALL and unfunded reserves is calculated in a manner to capture the entirety of the underlying business relationship of the customer. The amounts of unfunded commitments and the associated reserves may be subject to fluctuations due to originations, the timing and volume of loan funding, as well as changes in risk ratings. At June 30, 2015, the reserve for unfunded credit commitments was $1.2 million compared to a reserve for unfunded credit commitments of $1.3 million at December 31, 2014.

Sources of Funds

The primary source of the Company’s cash flows, for use in lending and meeting its general operational needs, is deposits. Additional sources of funds are from Federal Home Loan Bank of Boston advances, reverse repurchase agreements, federal funds lines, loan and mortgage-backed securities repayments, securities sales proceeds and maturities, subordinated debt, and earnings. While scheduled loan and securities repayments are a relatively stable source of funds, loan and investment security prepayments and deposit inflows are influenced by prevailing interest rates and local economic conditions and are inherently uncertain.

Deposits

The Company offers a wide variety of deposit products to consumer, business and municipal customers. Deposit customers can access their accounts in a variety of ways including branch banking, ATM’s, internet banking, mobile banking and telephone banking. Effective advertising, direct mail, well-designed product offerings, customer service and competitive pricing policies have been successful in attracting and retaining deposits. A key strategic objective is to grow the base of checking customers by retaining existing relationships while attracting new customers.

Deposits provide an important source of funding for the Bank as well as an ongoing stream of fee revenue. The Company attempts to control the flow of funds in its deposit accounts according to its need for funds and the cost of alternative sources of funding. A Retail Pricing Committee meets weekly and a Management ALCO Committee meets monthly, to determine pricing and marketing initiatives. Actions of these committees influence the flow of funds primarily by the pricing of deposits, which is affected to a large extent by competitive factors in its market area and asset/liability management strategies.

The following table presents deposits by category as of the dates indicated:

(In thousands)	June 30, 2015		December 31, 2014
Demand deposits	$	610,279	$	602,359
NOW accounts	322,675		300,101
Regular savings and club accounts	528,827		528,614
Money market and investment savings	1,118,430		1,047,302
Total core deposits	2,580,211		2,478,376
Time deposits	1,602,040		1,556,935
Total deposits	$	4,182,251	$	4,035,311

Deposits totaled $4.18 billion at June 30, 2015, up $146.9 million from the balance at December 31, 2014. Core deposits increased $101.8 million, or 4.1%, from year end reflecting the promotion of retail and commercial money market products offered in a select market area and, to a lesser degree, promotional certificate of deposit specials.

Time deposits included brokered certificate of deposits of $272.1 million and $241.9 million at June 30, 2015 and December 31, 2014, respectively. The Company utilizes out-of-market brokered time deposits as part of its overall funding program along with other sources. Excluding out-of-market brokered certificates of deposits, in-market time deposits totaled $1.33 billion at June 30, 2015. United Bank is a member of the Certificate Deposit Account Registry Service network.

Borrowings

The Company also uses various types of short-term and long-term borrowings in meeting funding needs. While customer deposits remain the primary source for funding loan originations, management uses short-term and long-term borrowings as a supplementary funding source for loan growth and other liquidity needs when the cost of these funds are favorable compared to alternative funding, including deposits.

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The following table presents borrowings by category as of the dates indicated:

(In thousands)	June 30, 2015		December 31, 2014
FHLBB advances (1)	$	673,355	$	580,973
Subordinated debt (2)	79,386		79,288
Wholesale repurchase agreements	35,000		69,242
Customer repurchase agreements	31,858		41,335
Other	6,364		6,476
Total borrowings	$	825,963	$	777,314

(1)FHLBB advances include $4.4 million and $5.4 million of purchase accounting discounts at June 30, 2015 and December 31, 2014, respectively.

(2)Subordinated debt includes $7.7 million of acquired junior subordinated debt, net of mark to market discounts of $2.2 million, and $75.0 million Subordinated Notes, net of associated deferred costs of $1.2 million at June 30, 2015 and December 31, 2014.

United Bank is a member of the Federal Home Loan Bank System, which consists of twelve district Federal Home Loan Banks, each subject to the supervision and regulation of the Federal Housing Finance Agency. Members are required to own capital stock in the FHLBB in order for the Bank to access advances and borrowings which are collateralized by certain home mortgages or securities of the U.S. Government and its agencies. The capital stock investment is restricted in that there is no market for it, and it can only be redeemed by the FHLBB.

Total FHLBB advances increased $93.4 million to $668.9 million at June 30, 2015, exclusive of the purchase accounting mark adjustment on the advances, compared to $575.6 million at December 31, 2014. This increase is a result of the Company funding new loan growth. At June 30, 2015, all of the Company’s outstanding FHLBB advances were at fixed coupons ranging from 0.25% to 7.15%, with an average cost of 0.83%. FHLBB borrowings represented 11.9% and 10.6% of assets at June 30, 2015 and December 31, 2014, respectively.

Borrowings under reverse purchase agreements totaled $35.0 million and $69.2 million as of June 30, 2015 and December 31, 2014, respectively. The outstanding borrowings consisted of three individual agreements with remaining terms of four years or less and a weighted-average cost of 1.73%. Retail repurchase agreements, which have a term of one day and are backed by the purchasers’ interest in certain U.S. Government or government-sponsored securities, totaled $31.9 million and $41.3 million at June 30, 2015 and December 31, 2014, respectively.

Subordinated debentures totaled $79.4 million and $79.3 million at June 30, 2015 and December 31, 2014, respectively.

Liquidity and Capital Resources

Liquidity is the ability to meet cash needs at all times with available cash or by conversion of other assets to cash at a reasonable price and in a timely manner. The Company maintains liquid assets at levels the Company considers adequate to meet its liquidity needs. The Company adjusts its liquidity levels to fund loan commitments, repay its borrowings, fund deposit outflows, pay escrow obligations on all items in the loan portfolio and to fund operations. The Company also adjusts liquidity as appropriate to meet asset and liability management objectives.

The Company’s primary sources of liquidity are deposits, amortization and prepayment of loans, the sale in the secondary market of loans held for sale, maturities and sales of investment securities and other short-term investments, periodic pay downs of mortgage-backed securities, and earnings and funds provided from operations. While scheduled principal repayments on loans are a relatively predictable source of funds, deposit flows and loan prepayments are greatly influenced by market interest rates, economic conditions, and rates offered by our competition. The Company sets the interest rates on our deposits to maintain a desired level of total deposits. In addition, the Company invests excess funds in short-term interest-earning assets, which provide liquidity to meet lending requirements.

A portion of the Company’s liquidity consists of cash and cash equivalents, which are a product of our operating, investing and financing activities. At June 30, 2015, $84.5 million of the Company’s assets were held in cash and cash equivalents compared to $87.0 million at December 31, 2014. The Company’s primary sources of cash are principal repayments on loans, proceeds from the calls and maturities of investment securities, increases in deposit accounts, proceeds from residential loan sales and advances from the FHLBB.

Liquidity management is both a daily and longer-term function of business management. If the Company requires funds beyond its ability to generate them internally, borrowing agreements exist with the FHLBB, which provide an additional source of funds. At June 30, 2015, the Company had $668.9 million in advances from the Federal Home Loan Bank of Boston and an additional available borrowing limit of $298.5 million based on collateral requirements of the FHLBB inclusive of the line of

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credit. In addition, the Bank has relationships with brokered sweep deposit providers with outstanding balances of $121.7 million at June 30, 2015. Internal policies limit wholesale borrowings to 30% of total assets, or $1.70 billion, at June 30, 2015. In addition, the Company has uncommitted federal funds line of credit with five counterparties totaling $122.5 million at June 30, 2015. No federal funds purchased were outstanding at June 30, 2015.

The Company has established access to the Federal Reserve Bank of Boston’s discount window through a borrower in custody agreement. As of June 30, 2015, the Bank had pledged 28 commercial loans, with outstanding balances totaling $196.0 million. Based on the amount of pledged collateral, the Bank had available liquidity of $151.8 million.

At June 30, 2015, the Company had outstanding commitments to originate loans of $288.3 million and unfunded commitments under construction loans, lines of credit and stand-by letters of credit of $737.6 million. At June 30, 2015, time deposits scheduled to mature in less than one year totaled $1.14 billion. Based on prior experience, management believes that a significant portion of such deposits will remain with the Company, although there can be no assurance that this will be the case. In the event a significant portion of its deposits are not retained by the Company, it will have to utilize other funding sources, such as FHLBB advances in order to maintain its level of assets. Alternatively, we would reduce our level of liquid assets, such as our cash and cash equivalents in order to meet funding needs. In addition, the cost of such deposits may be significantly higher if market interest rates are higher or there is an increased amount of competition for deposits in our market area at the time of renewal.

The main sources of liquidity at the parent company level are dividends from United Bank and proceeds received from the Company’s issuance of $75.0 million of subordinated notes in September 2014. The main uses of liquidity are payments of dividends to common stockholders, repurchase of United Financial’s common stock, and corporate operating expenses. There are certain restrictions on the payment of dividends. See Note 17, “Regulatory Matters” in the Company’s 2014 Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 for further information on dividend restrictions.

The Company and the Bank are subject to various regulatory capital requirements. As of June 30, 2015, the Company and the Bank are categorized as “well-capitalized” under the regulatory framework for prompt corrective action. See Note 11, “Regulatory Matters” in the Notes to the Unaudited Consolidated Financial Statements contained elsewhere in this report for discussion of capital requirements.

The liquidity position of the Company is continuously monitored and adjustments are made to balance between sources and uses of funds as deemed appropriate. Management is not aware of any events that are reasonably likely to have a material adverse effect on the Company’s liquidity, capital resources or operations. In addition, management is not aware of any regulatory recommendations regarding liquidity, which if implemented would have a material adverse effect on the Company. The Company has a detailed liquidity contingency plan which is designed to respond to liquidity concerns in a prompt and comprehensive manner. It is designed to provide early detection of potential problems and details specific actions required to address liquidity stress scenarios.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

General: The majority of our assets and liabilities are monetary in nature. Consequently, our most significant form of market risk is interest rate risk. Our assets, consisting primarily of mortgage loans, in general have longer contractual maturities than our liabilities, consisting primarily of deposits. As a result, a principal part of our business strategy is to manage interest rate risk and reduce the exposure of our net interest income to changes in market interest rates. Accordingly, our Board of Directors has established a Risk Committee which is responsible for evaluating the interest rate risk inherent in our assets and liabilities, for determining the level of risk that is appropriate given our business strategy, operating environment, capital, liquidity and performance objectives, and for managing this risk consistent with the guidelines approved by the Board of Directors. Management monitors the level of interest rate risk on a regular basis and the Risk Committee meets at least quarterly to review our asset/liability policies and interest rate risk position.

We have sought to manage our interest rate risk in order to minimize the exposure of our earnings and capital to changes in interest rates. During the low interest rate environment that has existed in recent years, we have implemented the following strategies to manage our interest rate risk: (i) emphasizing adjustable rate loans including, adjustable rate one-to-four family, commercial and consumer loans, (ii) selling longer-term 1-4 family fixed rate mortgage loans in the secondary market, (iii) reducing and shortening the expected average life of the investment portfolio and (iv) a forward starting hedge strategy for future dated wholesale funding and (v) a loan level hedging program. These measures should serve to reduce the volatility of our future net interest income in different interest rate environments.

Quantitative Analysis

Income Simulation: Simulation analysis is used to estimate our interest rate risk exposure at a particular point in time. The Company models a stable balance sheet (both size and mix) is projected throughout the modeling horizon. This adoption was

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made in a continued effort to align with regulatory best practices and to highlight the current level of risk in the Company’s positions without the effects of growth assumptions. We utilize the income simulation method to analyze our interest rate sensitivity position to manage the risk associated with interest rate movements. At least quarterly, our Risk Committee of the Board of Directors reviews the potential effect changes in interest rates could have on the repayment or repricing of rate sensitive assets and funding requirements of rate sensitive liabilities. Our most recent simulation uses projected repricing of assets and liabilities at June 30, 2015 on the basis of contractual maturities, anticipated repayments and scheduled rate adjustments. Prepayment rate assumptions as well as deposit characterization assumptions can have a significant impact on interest income simulation results. Because of the large percentage of loans and mortgage-backed assets we hold, rising or falling interest rates may have a significant impact on the actual prepayment speeds of our mortgage related assets that may in turn effect our interest rate sensitivity position. When interest rates rise, prepayment speeds slow and the average expected life of our assets would tend to lengthen more than the expected average life of our liabilities and therefore would most likely result in a decrease to our asset sensitive position.

	Percentage Decrease in Estimated Net Interest Income
	Over 12 Months		Over 12 -24 Months
300 basis point increase in rates	3.43	%	5.68	%
50 basis point decrease in rates	3.93	%	6.11	%

United Bank’s Asset/Liability policy currently limits projected changes in net interest income based on a matrix of projected total risk-based capital relative to the interest rate change for each twelve month period measured compared to the flat rate scenario. As a result, the higher a level of projected risk-based capital, the higher the limit of projected net interest income volatility the Company will accept. As the level of projected risk-based capital is reduced, the policy requires that net interest income volatility also is reduced, making the limit dynamic relative to the capital level needed to support it. These policy limits are re-evaluated on a periodic basis (not less than annually) and may be modified, as appropriate. Because of the liability-sensitivity of our balance sheet, income is projected to decrease if interest rates rise. Also included in the decreasing rate scenario is the assumption that further declines are reflective of a deeper recession as well as narrower credit spreads from Federal Open Market Committee actions. At June 30, 2015, income at risk over the next twelve months (i.e., the change in net interest income) decreased 3.43% and decreased 3.93% based on a 300 basis point average increase or a 50 basis point average decrease, respectively. While we believe the assumptions used are reasonable, there can be no assurance that assumed prepayment rates will approximate actual future mortgage-backed security and loan repayment activity.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures: Our disclosure controls and procedures are designed to ensure that information the Company must disclose in its reports filed or submitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is recorded, processed, summarized, and reported on a timely basis. Our management has evaluated, with the participation and under the supervision of our chief executive officer (“CEO”) and chief financial officer (“CFO”), the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) as of the end of the period covered by this report. Based on this evaluation, our CEO and CFO have concluded that, as of such date, the Company’s disclosure controls and procedures are effective in ensuring that information relating to the Company, including its consolidated subsidiaries, required to be disclosed in reports that it files under the Exchange Act is (1) recorded, processed, summarized and reported within time periods specified in the SEC’s rules and forms, and (2) accumulated and communicated to our management, including our CEO and CFO, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Controls: During the quarter under report, there was no change in the Company’s internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

Part II. OTHER INFORMATION

Item 1. Legal Proceedings

The Company is involved in various legal proceedings that have arisen in the normal course of business. The Company is not involved in any legal proceedings deemed to be material as of June 30, 2015.

Item 1A. Risk Factors

There have been no material changes in the Risk Factors previously disclosed in Item 1A of the Company’s annual report on Form 10-K for the period ended December 31, 2014.

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table provides information with respect to net purchases made by United Financial Bancorp’s, Inc. of its common stock during the period ended June 30, 2015:

Period	Total number of shares purchased	Average(1) price paid per share		Total number of shares purchased as part of publicly announced plans or programs	Maximum number of shares that may yet be purchased under the plan
April 1 - 30, 2015	—	$	—	5,041,915	254,394
May 1 - 31, 2015	—	—		5,041,915	254,394
June 1 - 30, 2015	—	—		5,041,915	254,394
Total	—	$	—	5,041,915	254,394

(1)Includes dealer commission expense to purchase the securities.

In October 2014, the Company announced that it had adopted a third share repurchase program which commenced upon the completion of the second authorization. The third repurchase program allows for the purchase of an additional 2,566,283 shares, or approximately 5% of outstanding shares. The Company has no intentions at this time to terminate this plan. As of June 30, 2015, there were 254,394 maximum shares that may yet be purchased under this publicly announced plan.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None.

Item 6. Exhibits

2.1	Amended and Restated Plan of Conversion and Reorganization (incorporated herein by reference to Exhibit 2.1 to the Registration Statement filed on the Form S-1 for Rockville Financial New, Inc. on September 16, 2010)
2.2	Agreement and Plan of Merger by and between Rockville Financial, Inc. and United Financial Bancorp, Inc. (incorporated herein by reference to Exhibit 99.1 to the Current Report on the Company’s Form 8-K filed on November 15, 2013)
3.1	Certificate of Incorporation of United Financial Bancorp, Inc. (incorporated herein by reference to Exhibit 3.1 of the Company’s Current Report on Form 8-K filed on May 01, 2014)
3.2	The Bylaws, as amended and restated, (incorporated herein by reference to Exhibit 3.2 to the Current Report on the Company’s Form 8-K filed on May 01, 2014)
10.5	Supplemental Savings and Retirement Plan of United Bank as amended and restated effective December 31, 2007 (incorporated herein by reference to Exhibit 10.5 to the Current Report on Form 8-K filed for Rockville Financial, Inc. (now United Financial Bancorp, Inc.) filed on December 18, 2007)
10.6	United Bank Officer Incentive Compensation Plan (incorporated herein by reference to Exhibit 10.2.3 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2005 filed on March 31, 2006 (File No. 000-52139))
10.9	United Bank Supplemental Executive Retirement Plan as amended and restated effective December 31, 2007 (incorporated herein by reference to Exhibit 10.9 to the Current Report on Form 8-K filed for Rockville Financial, Inc. (now United Financial Bancorp, Inc.) filed on December 18, 2007)
10.10	United Financial Bancorp, Inc. 2006 Stock Incentive Award Plan (incorporated herein by reference to Appendix B in the Definitive Proxy Statement on Form 14A for Rockville Financial, Inc. (now United Financial Bancorp, Inc.) filed on July 3, 2006 (File No. 000-51239))

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10.11.2	Supplemental Executive Retirement Agreement of United Bank for William H.W. Crawford, IV effective December 26, 2012 (incorporated by reference to Exhibit 10.11.2 to the Current Report on the Company’s Form 8-K filed on January 2, 2013)
10.11.4	On November 14, 2013, United Financial Bancorp, Inc. and its subsidiary United Bank entered into an Employment Agreement with William H.W. Crawford, IV effective on the date of the consummation of the Merger (incorporated by reference herein to Exhibit 10.11.4 to the Company’s Form 8-K filed on November 20, 2013)
10.12	Supplemental Executive Retirement Agreement of United Bank for Mark A. Kucia effective December 6, 2010 (incorporated by reference to Exhibit 10.13 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2010 filed on March 10, 2011)
10.12.1	Employment Agreement as amended and restated by and among United Financial Bancorp, Inc., United Bank and Mark A. Kucia, effective January 9, 2012 (replaces former Exhibit 10.12.1) (incorporated herein by reference to Exhibit 10.12.1 to the Current Report on the Company’s Form 8-K filed on January 13, 2012)
10.13	Employment Agreement by and among United Financial Bancorp, Inc., United Bank and Marino J. Santarelli effective January 9, 2012 (replaces former Exhibits 10.2 and 10.2.2) (incorporated herein by reference to Exhibit 10.2 to the Current Report on the Company’s Form 8-K filed on January 13, 2012)
10.14	United Financial Bancorp, Inc. 2012 Stock Incentive Award Plan (incorporated herein by reference to Appendix A in the Definitive Proxy Statement on Form 14A for Rockville Financial, Inc. (now United Financial Bancorp, Inc.) filed on April 4, 2012 (File No. 0001193125-12-149948))
10.16	On November 14, 2013, United Financial Bancorp, Inc. and its subsidiary United Bank entered into an Advisory Agreement with Richard B. Collins effective on the date of the consummation of the Merger (incorporated by reference to Exhibit 10.16 to the Company’s Form 8-K filed on November 20, 2013)
10.17	Employment Agreement by and among United Financial Bancorp, Inc., United Bank and Eric R. Newell effective January 1, 2013 (incorporated by reference to Exhibit 10.17 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 filed on March 14, 2014)
10.18	Employment Agreement by and among United Financial Bancorp, Inc., United Bank and David Paulson effective February 19, 2014 (incorporated by reference to Exhibit 10.18 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 filed on March 14, 2014)
10.19	Form of United Financial Bancorp, Inc. Executive Change in Control Severance Plan, effective January 21, 2015 (incorporated by reference to Exhibit 10.19 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed on March 9, 2015)
14.	United Financial Bancorp, Inc., United Bank, Standards of Conduct Policy - Employees (incorporated by reference to Exhibit 14. to the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed on March 9, 2015)
21.	Subsidiaries of United Financial Bancorp, Inc. and United Bank (incorporated by reference to Exhibit 21. to the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed on March 9, 2015)
31.1	Rule 13a-14(a)/15d-14(a) Certification of the Chief Executive Officer filed herewith
31.2	Rule 13a-14(a)/15d-14(a) Certification of the Chief Financial Officer filed herewith
32.0	Section 1350 Certification of the Chief Executive Officer and Chief Financial Officer attached hereto
101.	Interactive data files pursuant to Rule 405 of Regulation S-T: (i) the Consolidated Statements of Condition, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Comprehensive Income (Loss), (iv) the Consolidated Statements of Changes in Stockholders’ Equity, (v) the Consolidated Statements of Cash Flows, and (vi) the Notes to Unaudited Consolidated Financial Statements filed herewith

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

United Financial Bancorp, Inc.

By:	/s/ Eric R. Newell
	Eric R. Newell
	EVP, Chief Financial Officer and Treasurer

Date: August 7, 2015

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EX-31.1

Exhibit 31.1

Certification

I, William H.W. Crawford, IV, certify that:

1. I have reviewed this quarterly report on Form 10-Q of United Financial Bancorp, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation;

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

August 7, 2015	/s/ William H.W. Crawford, IV
	William H.W. Crawford, IV Chief Executive Officer

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EX-31.2

Exhibit 31.2

Certification

I, Eric R. Newell, certify that:

1. I have reviewed this quarterly report on Form 10-Q of United Financial Bancorp, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation;

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

August 7, 2015	/s/ Eric R. Newell
	Eric R. Newell  EVP, Chief Financial Officer and Treasurer

76

EX-32.0

Exhibit 32.0

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADDED BY

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of United Financial Bancorp, Inc. (the “Company”) on Form 10-Q for the quarterly period ended June 30, 2015, as filed with the Securities and Exchange Commission (the “Report”), I hereby certify pursuant to 18 U.S.C. Section 1350, as added by Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2.	The information contained in this Report fairly presents, in all material respects, the consolidated financial condition and results of the Company as of and for the period covered by this Report.

By:	/s/ William H.W. Crawford, IV
	William H.W. Crawford, IV
	Chief Executive Officer
	August 7, 2015
By:	/s/ Eric R. Newell
	Eric R. Newell
	EVP, Chief Financial Officer and Treasurer
	August 7, 2015

The forgoing certification is being furnished solely pursuant to 12 U.S.C. Section 1350 and is not being filed as part of the Report or as a separate disclosure document.

Note: A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to United Financial Bancorp, Inc. and will be retained by United Financial Bancorp, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

77

XML

Summary of Significant Accounting Policies - Additional Information (Detail) - Jun. 30, 2015	Office ATM
Accounting Policies [Abstract]
Merger completion date	Apr. 30, 2014
Number of banking offices | Office	52
Number of ATMs	63

XML

Loans Receivable and Allowance for Loan Losses - Troubled Debt Restructurings (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Recorded investment in TDRs:
Non-accrual status	$ 35,374	$ 32,358
Troubled Debt Restructurings [Member]
Recorded investment in TDRs:
Accrual status	10,985	11,638
Non-accrual status	5,346	4,169
Total recorded investment in TDRs	16,331	15,807
Accruing TDRs performing under modified terms more than one year	5,153	1,919
Specific reserves for TDRs included in the balance of allowance for loan losses	87	380
Additional funds committed to borrowers in TDR status	$ 44	$ 210

XML

Loans Receivable and Allowance for Loan Losses - Company's Loans by Risk Rating (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 4,072,067	$ 3,897,866
Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,501,813	1,413,739
Residential Real Estate [Member] | Loans Rated 1-5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,481,643	1,396,866
Residential Real Estate [Member] | Loans Rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,452	1,981
Residential Real Estate [Member] | Loans Rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	18,718	14,892
Residential Real Estate [Member] | Loans Rated 8 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,763,751	1,678,936
Commercial Real Estate [Member] | Loans Rated 1-5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,681,958	1,606,420
Commercial Real Estate [Member] | Loans Rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	45,606	28,616
Commercial Real Estate [Member] | Loans Rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	36,187	43,900
Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	166,768	185,843
Construction [Member] | Loans Rated 1-5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	153,613	174,629
Construction [Member] | Loans Rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	7,739	4,652
Construction [Member] | Loans Rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	5,416	6,562
Commercial Business Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	634,529	613,596
Commercial Business Loans [Member] | Loans Rated 1-5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	604,442	570,808
Commercial Business Loans [Member] | Loans Rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	11,654	21,589
Commercial Business Loans [Member] | Loans Rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	18,384	21,154
Commercial Business Loans [Member] | Loans Rated 8 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	49	45
Installment and Collateral Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	5,206	5,752
Installment and Collateral Loans [Member] | Loans Rated 1-5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	5,175	5,488
Installment and Collateral Loans [Member] | Loans Rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	0
Installment and Collateral Loans [Member] | Loans Rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 31	$ 264

XML

Loans Receivable and Allowance for Loan Losses - Loans Restructured as Troubled Debt Restructurings (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015 USD ($) Contract	Jun. 30, 2014 USD ($) Contract	Jun. 30, 2015 USD ($) Contract	Jun. 30, 2014 USD ($) Contract
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	21	3	23	20
Pre-Modification Outstanding Recorded Investment	$ 4,480	$ 1,286	$ 4,755	$ 5,547
Post-Modification Outstanding Recorded Investment	$ 4,477	$ 1,286	$ 4,752	$ 5,547
Residential Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	16	2	17	6
Pre-Modification Outstanding Recorded Investment	$ 2,577	$ 1,004	$ 2,652	$ 1,412
Post-Modification Outstanding Recorded Investment	$ 2,574	$ 1,004	$ 2,649	$ 1,412
Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	2	1	2	1
Pre-Modification Outstanding Recorded Investment	$ 791	$ 282	$ 791	$ 282
Post-Modification Outstanding Recorded Investment	$ 791	$ 282	$ 791	$ 282
Construction [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	2	0	2	13
Pre-Modification Outstanding Recorded Investment	$ 564	$ 0	$ 564	$ 3,853
Post-Modification Outstanding Recorded Investment	$ 564	$ 0	$ 564	$ 3,853
Commercial Business Loans [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	1	0	2	0
Pre-Modification Outstanding Recorded Investment	$ 548	$ 0	$ 748	$ 0
Post-Modification Outstanding Recorded Investment	$ 548	$ 0	$ 748	$ 0
Installment and Collateral Loans [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract		0		0
Pre-Modification Outstanding Recorded Investment		$ 0		$ 0
Post-Modification Outstanding Recorded Investment		$ 0		$ 0

XML

Share-Based Compensation Plans - ESOP Shares (Detail) - Jun. 30, 2015 - USD ($) $ in Thousands	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Allocated shares	1,152,426
Shares allocated for release	11,407
Unreleased shares	581,735
Total ESOP shares	1,745,568
Market value of unreleased shares at end of period (in thousands)	$ 7,978

XML

Loans Receivable and Allowance for Loan Losses - Summary of Acquired Loan Portfolio Subject to Purchased Credit Impairment Accounting Guidance (Detail) $ in Thousands		Apr. 30, 2014 USD ($)
Receivables [Abstract]
Contractually required principal and interest at acquisition		$ 18,540
Contractual cash flows not expected to be collected (nonaccretable)		(6,415)
Expected cash flows at acquisition	[1]	12,125
Interest component of expected cash flows (accretable)		(2,235)
Fair value of acquired PCI loans		$ 9,890

[1] Prepayments were not factored into the expected cash flows

XML

Pension and Other Post-Retirement Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2015

Compensation and Retirement Disclosure [Abstract]

Net Periodic Pension Costs

The following table presents the amount of net periodic pension costs for the three and six months ended June 30, 2015 and 2014:

							Supplemental				Other
							Executive				Post-Retirement
	Qualified Pension						Retirement Plans				Benefits
For the Three Months Ended:	June 30,						June 30,				June 30,
	2015			2014			2015		2014		2015		2014
(In thousands)
Service cost	$	15		$	19		$	6	$	12	$	6	$	5
Interest cost	290			286			11		18		20		21
Expected return on plan assets	(456		)	(468		)	—		—		—		—
Amortization:
Loss (gain)	185			—			1		1		5		(3		)
Prior service cost	—			—			2		11		—		—
Additional amount recognized due to settlement or curtailment	—			—			20		667		—		—
Net periodic benefit cost (benefit)	$	34		$	(163	)	$	40	$	709	$	31	$	23
							Supplemental				Other
							Executive				Post-Retirement
	Qualified Pension						Retirement Plans				Benefits
For the Six Months Ended:	June 30,						June 30,				June 30,
	2015			2014			2015		2014		2015		2014
(In thousands)
Service cost	$	30		$	38		$	12	$	19	$	11	$	10
Interest cost	581			572			21		32		40		42
Expected return on plan assets	(912		)	(936		)	—		—		—		—
Amortization:
Loss (gain)	369			—			2		1		9		(5		)
Prior service cost	—			—			3		16		—		—
Additional amount recognized due to settlement or curtailment	—			—			40		667		—		—
Net periodic benefit cost (benefit)	$	68		$	(326	)	$	78	$	735	$	60	$	47

XML

Pension and Other Post-Retirement Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Qualified Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 15	$ 19	$ 30	$ 38
Interest cost	290	286	581	572
Expected return on plan assets	(456)	(468)	(912)	(936)
Amortization, loss (gain)	185	0	369	0
Amortization, prior service cost	0	0	0	0
Additional amount recognized due to settlement or curtailment	0	0	0	0
Net periodic benefit cost (benefit)	34	(163)	68	(326)
Supplemental Executive Retirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	12	12	19
Interest cost	11	18	21	32
Expected return on plan assets	0	0	0	0
Amortization, loss (gain)	1	1	2	1
Amortization, prior service cost	2	11	3	16
Additional amount recognized due to settlement or curtailment	20	667	40	667
Net periodic benefit cost (benefit)	40	709	78	735
Other Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	5	11	10
Interest cost	20	21	40	42
Expected return on plan assets	0	0	0	0
Amortization, loss (gain)	5	(3)	9	(5)
Amortization, prior service cost	0	0	0	0
Additional amount recognized due to settlement or curtailment	0	0	0	0
Net periodic benefit cost (benefit)	$ 31	$ 23	$ 60	$ 47

XML

Share-Based Compensation Plans - Activity Related to Stock Options (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Number of Stock Options (in shares)
Outstanding, beginning balance	3,390,469
Granted	0	397,095
Exercised	(454,031)
Forfeited or expired	(45,797)
Outstanding, ending balance	2,890,641
Stock options vested and exercisable at end of period	2,665,842
Stock Options, Weighted- Average Exercise Price (usd per share)
Outstanding, beginning balance	$ 10.70
Granted	0.00
Exercised	9.11
Forfeited or expired	13.57
Outstanding, ending balance	10.90
Weighted Average Exercise Price, Stock options vested and exercisable at end of period (in dollars per share)	$ 10.67
Weighted-Average Remaining Contractual Term, Outstanding at end of period	5 years 9 months 18 days
Weighted-Average Remaining Contractual Term, Stock options vested and exercisable at end of period	5 years 6 months
Aggregate Intrinsic Value, Outstanding at end of period	$ 7.4
Aggregate Intrinsic Value, Stock options vested and exercisable at end of period	$ 7.4

XML

Fair Value Measurement - Summary of Assets Recorded at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 2,155	$ 2,863
Other real estate owned	227	2,239
Total	2,382	5,102
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,155	2,863
Other real estate owned	227	2,239
Total	$ 2,382	$ 5,102

XML

Loans Receivable and Allowance for Loan Losses - Summary of Loans Modified as TDRs within Previous 12 Months and Payment Default (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2015 USD ($) SecurityLoan	Jun. 30, 2014 USD ($) SecurityLoan
Financing Receivable, Modifications [Line Items]
Number of Loans and Leases | SecurityLoan	9	1
Recorded Investment	$ 2,704	$ 2,610
Residential Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans and Leases | SecurityLoan	3	0
Recorded Investment	$ 591	$ 0
Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans and Leases | SecurityLoan	6	0
Recorded Investment	$ 2,113	$ 0
Commercial Loan [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans and Leases | SecurityLoan	0	1
Recorded Investment	$ 0	$ 2,610

XML

Share-Based Compensation Plans - Restricted Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards vest in annual installments	3 years 1 month
Total unrecognized compensation cost related to unvested restricted stock	$ 405
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock issued	27,330
Weighted average grant date fair value	$ 13.33	$ 13.66
Restricted stock awards vest in annual installments	2 years 1 month
Total unrecognized compensation cost related to unvested restricted stock	$ 1,100
Restricted Stock [Member] | Employee Stock Option 2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock issued	27,330
Weighted average grant date fair value	$ 12.44
Restricted stock awards vest in annual installments	3 years

XML

Fair Value Measurement - Schedule of Assets and Liabilities Recorded at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Available for Sale Securities:
Total available for sale securities	$ 1,061,927		$ 1,053,011
Mortgage servicing rights	5,994	$ 4,921	4,729	$ 4,554	$ 4,084	$ 4,103
Fair Value, Measurements, Recurring [Member]
Available for Sale Securities:
Total available for sale securities	1,061,927		1,053,011
Loans held for sale	28,017
Fair Value, Measurements, Recurring [Member] | Mortgage Loan Derivative Assets & Liabilities [Member]
Available for Sale Securities:
Mortgage loan derivative assets	317		220
Mortgage loan derivative liabilities	18		21
Loans held for sale			8,220
Fair Value, Measurements, Recurring [Member] | U.S. Government and Government-Sponsored Enterprise Obligations [Member]
Available for Sale Securities:
Total available for sale securities	10,464		6,822
Fair Value, Measurements, Recurring [Member] | Government-Sponsored Residential Mortgage-Backed Securities [Member]
Available for Sale Securities:
Total available for sale securities	126,125		167,419
Fair Value, Measurements, Recurring [Member] | Government-Sponsored Commercial Mortgage-Backed Securities [Member]
Available for Sale Securities:
Total available for sale securities	54,472		68,298
Fair Value, Measurements, Recurring [Member] | Marketable Equity Securities [Member]
Available for Sale Securities:
Total available for sale securities	30,218		25,881
Fair Value, Measurements, Recurring [Member] | Mortgage Servicing Rights [Member]
Available for Sale Securities:
Mortgage servicing rights	5,994		4,729
Fair Value, Measurements, Recurring [Member] | Interest Rate Swaps [Member]
Available for Sale Securities:
Interest rate swap assets	5,867		3,853
Interest rate swap liabilities	7,300		4,931
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Available for Sale Securities:
Total available for sale securities	3,258		3,299
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Marketable Equity Securities [Member]
Available for Sale Securities:
Total available for sale securities	3,258		3,299
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member]
Available for Sale Securities:
Total available for sale securities	911,713		912,505
Loans held for sale	28,017
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | Mortgage Loan Derivative Assets & Liabilities [Member]
Available for Sale Securities:
Mortgage loan derivative assets	317		220
Mortgage loan derivative liabilities	18		21
Loans held for sale			8,220
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | U.S. Government and Government-Sponsored Enterprise Obligations [Member]
Available for Sale Securities:
Total available for sale securities	10,464		6,822
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | Government-Sponsored Residential Mortgage-Backed Securities [Member]
Available for Sale Securities:
Total available for sale securities	126,125		167,419
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | Government-Sponsored Commercial Mortgage-Backed Securities [Member]
Available for Sale Securities:
Total available for sale securities	54,472		68,298
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | Marketable Equity Securities [Member]
Available for Sale Securities:
Total available for sale securities	26,960		22,582
Fair Value, Measurements, Recurring [Member] | Other Observable Inputs (Level 2) [Member] | Interest Rate Swaps [Member]
Available for Sale Securities:
Interest rate swap assets	5,867		3,853
Interest rate swap liabilities	7,300		4,931
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Available for Sale Securities:
Total available for sale securities	146,956		137,207
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Marketable Equity Securities [Member]
Available for Sale Securities:
Total available for sale securities	0		0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member]
Available for Sale Securities:
Mortgage servicing rights	5,994		4,729
Fair Value, Measurements, Recurring [Member] | Government-Sponsored Residential Collateralized Debt Obligations [Member]
Available for Sale Securities:
Total available for sale securities	280,889		238,133
Fair Value, Measurements, Recurring [Member] | Government-Sponsored Residential Collateralized Debt Obligations [Member] | Other Observable Inputs (Level 2) [Member]
Available for Sale Securities:
Total available for sale securities	280,889		238,133
Fair Value, Measurements, Recurring [Member] | Government-Sponsored Commercial Collateralized Debt Obligations [Member]
Available for Sale Securities:
Total available for sale securities	134,440		129,686
Fair Value, Measurements, Recurring [Member] | Government-Sponsored Commercial Collateralized Debt Obligations [Member] | Other Observable Inputs (Level 2) [Member]
Available for Sale Securities:
Total available for sale securities	134,440		129,686
Fair Value, Measurements, Recurring [Member] | Asset-Backed Securities [Member]
Available for Sale Securities:
Total available for sale securities	163,182		178,755
Fair Value, Measurements, Recurring [Member] | Asset-Backed Securities [Member] | Other Observable Inputs (Level 2) [Member]
Available for Sale Securities:
Total available for sale securities	17,811		43,166
Fair Value, Measurements, Recurring [Member] | Asset-Backed Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
Available for Sale Securities:
Total available for sale securities	145,371		135,589
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Available for Sale Securities:
Total available for sale securities	50,532		42,245
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Other Observable Inputs (Level 2) [Member]
Available for Sale Securities:
Total available for sale securities	48,947		40,627
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
Available for Sale Securities:
Total available for sale securities	1,585		1,618
Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions [Member]
Available for Sale Securities:
Total available for sale securities	211,605		195,772
Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions [Member] | Other Observable Inputs (Level 2) [Member]
Available for Sale Securities:
Total available for sale securities	$ 211,605		$ 195,772

XML

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss, Net of Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) Activity
December 31, 2014			$ (6,490)
Change	$ (7,368)	$ 3,012	(3,692)	$ 4,609
June 30, 2015	(10,182)		(10,182)
Net Unrealized Gain (Loss) on Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) Activity
December 31, 2014			(6,509)
Change			391
June 30, 2015	(6,118)		(6,118)
Net Unrealized Gain (Loss) on Available For Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) Activity
December 31, 2014			656
Change			(3,685)
June 30, 2015	(3,029)		(3,029)
Net Unrealized Gain (Loss) on Interest Rate Swaps [Member]
Accumulated Other Comprehensive Income (Loss) Activity
December 31, 2014			(637)
Change			(398)
June 30, 2015	$ (1,035)		$ (1,035)

XML

Fair Value Measurement - Schedule of Assets Measured at Fair Value on Recurring Basis Using Level 3 Inputs (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Mortgage Servicing Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 4,921	$ 4,084	$ 4,729	$ 4,103
Addition of Legacy United mortgage servicing rights	0	764	0	764
Issuances	688	184	1,265	318
Change in fair value recognized in net income	385	(478)	0	(631)
Balance at end of period	5,994	4,554	5,994	4,554
Available for Sale Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	147,581	72,438	137,207	72,963
Purchases	0	63,173	9,799	63,173
Principal payments	(252)	(1,052)	(435)	(2,114)
Total unrealized gains (losses) included in other comprehensive income/loss	(373)	672	385	1,209
Balance at end of period	$ 146,956	$ 135,231	$ 146,956	$ 135,231

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Share-Based Compensation Plans - Employee Stock Ownership Plan - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015 USD ($)	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($) shares	Jun. 30, 2014 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock ownership plan loan outstanding balance	$ 6,500		$ 6,500
Interest rate for the ESOP loans			1.00%
ESOP compensation expense	$ 74	$ 433	$ 147	$ 873
Employee Stock Ownership Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Borrowings from the company			$ 7,800
Purchase of common stock | shares			699,659
Exchange ratio	1.5167		1.5167
Employee Stock Ownership Plan 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Borrowings from the company			$ 7,100
Purchase of common stock | shares			684,395
Employee stock ownership plan loan outstanding balance	$ 6,500		$ 6,500
Bank's discretionary contributions to the ESOP over a remaining period			26 years

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Derivatives and Hedging Activities - Schedule of Effect of Derivative Instruments in Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income for Derivatives	$ (256)	$ 445
Designated as Hedging Instruments [Member] | Interest Rate Swaps [Member] | Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)	2,715	(2,366)	$ (623)	$ (4,887)
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)			(12)	0
Designated as Hedging Instruments [Member] | Interest Rate Swaps [Member] | Fair Value Hedge [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income for Derivatives	(37)	128	166	159
Amount of Gain (Loss) Recognized in Income for Hedged Items	38	(128)	(167)	(159)
Not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income for Derivatives			351	188
Not Designated as Hedging Instruments [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income for Derivatives	154	(104)	227	(170)
Not Designated as Hedging Instruments [Member] | Derivative Loan Commitments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income for Derivatives	(485)	340	24	585
Not Designated as Hedging Instruments [Member] | Forward Loan Sale Commitments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income for Derivatives	$ 75	$ 209	$ 100	$ (227)

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Nature of Operations

Nature of Operations

On April 30, 2014, Rockville Financial, Inc. (“Rockville”) completed its merger with United Financial Bancorp, Inc. (“Legacy United”) and changed its legal entity name to United Financial Bancorp, Inc. (the “Company”). In connection with this merger, Rockville Bank, the Company’s principal asset and wholly-owned subsidiary, completed its merger with Legacy United’s banking subsidiary, United Bank, and changed its name to United Bank (the “Bank”). Discussions throughout this report related to the merger with Legacy United are referred to as the “Merger.”

The consolidated financial statements for periods prior to April 30, 2014 do not reflect the operations of Legacy United.

The Company, through United Bank and various subsidiaries, delivers financial services to individuals, families and businesses primarily throughout Connecticut and Massachusetts through 52 banking offices, its commercial loan production offices, its mortgage loan production offices, 63 ATMs, telephone banking, mobile banking and its internet website (www.bankatunited.com).

Basis of Presentation

Basis of Presentation

The consolidated interim financial statements and the accompanying notes presented in this report include the accounts of the Company, the Bank and the Bank’s wholly-owned subsidiaries, United Bank Mortgage Company, United Bank Investment Corp., Inc., United Bank Commercial Properties, Inc., United Bank Residential Properties, Inc., United Northeast Financial Advisors, Inc., United Bank Investment Sub, Inc., UCB Securities, Inc. II and UB Properties, LLC.

The consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included in the interim unaudited consolidated financial statements. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or any future period. These unaudited interim consolidated financial statements should be read in conjunction with the Company’s 2014 audited consolidated financial statements and notes thereto included in United Financial Bancorp, Inc.’s Annual Report on Form 10-K as of and for the year ended December 31, 2014.

Common Share Repurchases

Common Share Repurchases

The Company is chartered in the state of Connecticut. Connecticut law does not provide for treasury shares, rather shares repurchased by the Company constitute authorized but unissued shares. GAAP states that accounting for treasury stock shall conform to state law. Therefore, the cost of shares repurchased by the Company has been allocated to common stock balances. Notwithstanding the foregoing, prior to June 30, 2014, the Consolidated Statement of Condition refers to repurchased shares as “treasury stock.”

Reclassifications

Reclassifications

Certain reclassifications have been made in prior periods’ consolidated financial statements to conform to the 2015 presentation. These reclassifications had no impact on the Company’s consolidated financial position, results of operations or net change in cash equivalents. All significant intercompany transactions have been eliminated.

Use of Estimates

Use of Estimates

The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Actual results in the future could vary from the amounts derived from management’s estimates and assumptions. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, realizability of deferred tax assets, the evaluation of securities for other-than-temporary impairment, the valuation of derivative instruments and hedging activities and goodwill impairment valuations.

Interest-Imputation of Interest

Interest-Imputation of Interest.

In April 2015, the Financial Accounting Standards Board issued Accounting Standard Update “ASU” No. 2015-03, (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, as part of its simplification initiative. The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. For public business entities, the guidance in the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Entities would apply the new guidance retrospectively to all prior periods (i.e., the balance sheet for each period is adjusted). This ASU is not expected to have a material impact on the Company’s Consolidated Financial Statements.

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Loans Receivable and Allowance for Loan Losses - Summary of Allowance for Loan Losses and Impaired Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance related to loans individually evaluated and deemed impaired	$ 87		$ 1,259
Allowance related to loans collectively evaluated and not deemed impaired	28,769		23,334
Allowance related to loans acquired with deteriorated credit quality	0		216
Total allowance for loan losses	28,856	$ 25,297	24,809	$ 21,343	$ 19,500	$ 19,183
Loans deemed impaired	46,358		43,997
Loans not deemed impaired	4,017,924		3,842,984
Loans acquired with deteriorated credit quality	7,785		10,885
Total loans	4,072,067		3,897,866
Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance related to loans individually evaluated and deemed impaired	24		28
Allowance related to loans collectively evaluated and not deemed impaired	9,023		7,899
Allowance related to loans acquired with deteriorated credit quality	0		0
Total allowance for loan losses	9,047	8,189	7,927	7,000	6,491	6,396
Loans deemed impaired	18,138		15,981
Loans not deemed impaired	1,483,675		1,397,758
Loans acquired with deteriorated credit quality	0		0
Total loans	1,501,813		1,413,739
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance related to loans individually evaluated and deemed impaired	22		316
Allowance related to loans collectively evaluated and not deemed impaired	11,936		9,102
Allowance related to loans acquired with deteriorated credit quality	0		0
Total allowance for loan losses	11,958	10,119	9,418	7,866	8,554	8,288
Loans deemed impaired	17,525		19,514
Loans not deemed impaired	1,742,052		1,654,917
Loans acquired with deteriorated credit quality	4,174		4,505
Total loans	1,763,751		1,678,936
Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance related to loans individually evaluated and deemed impaired	36		33
Allowance related to loans collectively evaluated and not deemed impaired	1,927		1,437
Allowance related to loans acquired with deteriorated credit quality	0		0
Total allowance for loan losses	1,963	1,463	1,470	864	622	829
Loans deemed impaired	3,733		2,610
Loans not deemed impaired	161,004		180,548
Loans acquired with deteriorated credit quality	2,031		2,685
Total loans	166,768		185,843
Commercial Business Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance related to loans individually evaluated and deemed impaired	5		882
Allowance related to loans collectively evaluated and not deemed impaired	5,329		4,710
Allowance related to loans acquired with deteriorated credit quality	0		216
Total allowance for loan losses	5,334	4,891	5,808	5,217	3,442	3,394
Loans deemed impaired	6,934		5,846
Loans not deemed impaired	626,015		604,055
Loans acquired with deteriorated credit quality	1,580		3,695
Total loans	634,529		613,596
Installment and Collateral Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance related to loans individually evaluated and deemed impaired	0		0
Allowance related to loans collectively evaluated and not deemed impaired	104		75
Allowance related to loans acquired with deteriorated credit quality	0		0
Total allowance for loan losses	104	34	75	25	26	29
Loans deemed impaired	28		46
Loans not deemed impaired	5,178		5,706
Loans acquired with deteriorated credit quality	0		0
Total loans	5,206		5,752
Unallocated [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance related to loans individually evaluated and deemed impaired	0		0
Allowance related to loans collectively evaluated and not deemed impaired	450		111
Allowance related to loans acquired with deteriorated credit quality	0		0
Total allowance for loan losses	450	$ 601	111	$ 371	$ 365	$ 247
Loans deemed impaired	0		0
Loans not deemed impaired	0		0
Loans acquired with deteriorated credit quality	0		0
Total loans	$ 0		$ 0

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Securities - Amortized Cost and Fair Value of Debt Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Maturity:
Amortized Cost	$ 1,036,717
Available for Sale securities, Amortized Cost	1,036,717
Fair Value	1,031,709
Held to Maturity Securities, Amortized Cost	14,992	$ 15,368
Held-to-maturity Securities, Fair Value	15,978	16,713
Government-Sponsored Residential Mortgage-Backed Securities [Member]
Maturity:
Available for Sale, Amortized Cost, Mortgage-backed securities	126,865
Available for Sale, Fair Value, Mortgage-backed securities	126,125
Held to Maturity, Amortized Cost, Mortgage-backed securities	2,613
Held-to-maturity Securities, Fair Value	2,920	$ 3,310
Held to Maturity, Fair Value, Mortgage-backed securities	2,920
Government-Sponsored Residential Collateralized Debt Obligations [Member]
Maturity:
Amortized Cost	280,162
Available for Sale securities, Amortized Cost	280,162
Fair Value	280,889
Government-Sponsored Commercial Mortgage-Backed Securities [Member]
Maturity:
Amortized Cost	54,111
Available for Sale securities, Amortized Cost	54,111
Fair Value	54,472
Government-Sponsored Commercial Collateralized Debt Obligations [Member]
Maturity:
Amortized Cost	133,795
Available for Sale securities, Amortized Cost	133,795
Fair Value	134,440
Asset-Backed Securities [Member]
Maturity:
Amortized Cost	162,957
Available for Sale securities, Amortized Cost	162,957
Fair Value	163,182
Available For Sale Securities Due At A Single Maturity Date [Member]
Maturity:
Available for Sale, Amortized Cost, Within 1 year	225
Available for Sale, Amortized Cost, After 1 year through 5 years	4,799
Available for Sale, Amortized Cost, After 5 years through 10 years	51,975
Available for Sale, Amortized Cost, After 10 years	221,828
Amortized Cost	278,827
Available for Sale securities, Amortized Cost	278,827
Available for Sale, Fair Value, Within 1 year	225
Available for Sale, Fair Value, After 1 year through 5 years	4,699
Available for Sale, Fair Value, After 5 years through 10 years	51,293
Available for Sale, Fair Value, After 10 years	216,384
Available for Sale Debt Maturities, Fair Value	272,601
Held to Maturity, Amortized Cost, Within 1 year	0
Held to Maturity, Amortized Cost, After 1 year through 5 years	0
Held to Maturity, Amortized Cost, After 5 years through 10 years	1,199
Held to Maturity, Amortized Cost, After 10 years	11,180
Held to Maturity Securities, Debt Maturities, Amortized Cost	12,379
Held to Maturity, Fair Value, Within 1 year	0
Held to Maturity, Fair Value, After 1 year through 5 years	0
Held to Maturity, Fair Value, After 5 years through 10 years	1,208
Held to Maturity, Fair Value, After 10 years	11,850
Held-to-maturity Securities, Fair Value	$ 13,058

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Share-Based Compensation Plans - Activity for Restricted Stock (Detail) - 6 months ended Jun. 30, 2015 - Restricted Stock [Member] - $ / shares	Total
Number of Shares (in shares)
Unvested at beginning of period	124,536
Granted	27,330
Vested	(45,594)
Forfeited	0
Unvested at end of period	106,272
Weighted-Average Grant-Date Fair Value (in dollars per share)
Unvested at beginning of period	$ 13.66
Granted	12.44
Vested	13.69
Forfeited	0.00
Unvested at end of period	$ 13.33

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Gains (Losses) in Fair Value Related to Mortgage Loans Held for Sale

The following table presents the gains in fair value related to mortgage loans held for sale for the periods indicated. Changes in the fair value of mortgage loans held for sale are reported as a component of income from mortgage banking activity in the Consolidated Statements of Operations.

	Three Months Ended   June 30,				Six Months Ended   June 30,
(In thousands)	2015		2014		2015		2014
Mortgage loans held for sale	$	551	$	517	$	681	$	568

Schedule of Assets and Liabilities Recorded at Fair Value on Recurring Basis

The following tables detail the assets and liabilities carried at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value. There were no transfers in and out of Level 1, Level 2 and Level 3 measurements during the six months ended June 30, 2015 and 2014.

	Total Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(In thousands)			(Level 1)		(Level 2)		(Level 3)
June 30, 2015
Available for Sale Securities:
U.S. Government and government-sponsored enterprise obligations	$	10,464	$	—	$	10,464	$	—
Government-sponsored residential mortgage-backed securities	126,125		—		126,125		—
Government-sponsored residential collateralized debt obligations	280,889		—		280,889		—
Government-sponsored commercial mortgage-backed securities	54,472		—		54,472		—
Government-sponsored commercial collateralized debt obligations	134,440		—		134,440		—
Asset-backed securities	163,182		—		17,811		145,371
Corporate debt securities	50,532		—		48,947		1,585
Obligations of states and political subdivisions	211,605		—		211,605		—
Marketable equity securities	30,218		3,258		26,960		—
Total available for sale securities	$	1,061,927	$	3,258	$	911,713	$	146,956
Mortgage loan derivative assets	$	317	$	—	$	317	$	—
Mortgage loan derivative liabilities	18		—		18		—
Loans held for sale	28,017		—		28,017		—
Mortgage servicing rights	5,994		—		—		5,994
Interest rate swap assets	5,867		—		5,867		—
Interest rate swap liabilities	7,300		—		7,300		—
December 31, 2014
Available for Sale Securities:
U.S. Government and government-sponsored enterprise obligations	$	6,822	$	—	$	6,822	$	—
Government-sponsored residential mortgage-backed securities	167,419		—		167,419		—
Government-sponsored residential collateralized-debt obligations	238,133		—		238,133		—
Government-sponsored commercial mortgage-backed securities	68,298		—		68,298		—
Government-sponsored commercial collateralized-debt obligations	129,686		—		129,686		—
Asset-backed securities	178,755		—		43,166		135,589
Corporate debt securities	42,245		—		40,627		1,618
Obligations of states and political subdivisions	195,772		—		195,772		—
Marketable equity securities	25,881		3,299		22,582		—
Total available for sale securities	$	1,053,011	$	3,299	$	912,505	$	137,207
Mortgage loan derivative assets	$	220	$	—	$	220	$	—
Mortgage loan derivative liabilities	21		—		21		—
Loans held for sale	8,220		—		8,220		—
Mortgage servicing rights	4,729		—		—		4,729
Interest rate swap assets	3,853		—		3,853		—
Interest rate swap liabilities	4,931		—		4,931		—

Schedule of Assets Measured at Fair Value on Recurring Basis Using Level 3 Inputs

The following table presents additional information about assets measured at fair value on a recurring basis for which the Company utilized Level 3 inputs to determine fair value:

	Three Months Ended   June 30,						Six Months Ended   June 30,
(In thousands)	2015			2014			2015			2014
Balance of available for sale securities, at beginning of period	$	147,581		$	72,438		$	137,207		$	72,963
Purchases	—			63,173			9,799			63,173
Principal payments	(252		)	(1,052		)	(435		)	(2,114		)
Total unrealized gains (losses) included in other comprehensive income/loss	(373		)	672			385			1,209
Balance at end of period	$	146,956		$	135,231		$	146,956		$	135,231
Balance of mortgage servicing rights, at beginning of period	$	4,921		$	4,084		$	4,729		$	4,103
Addition of Legacy United mortgage servicing rights	—			764			—			764
Issuances	688			184			1,265			318
Change in fair value recognized in net income	385			(478		)	—			(631		)
Balance at end of period	$	5,994		$	4,554		$	5,994		$	4,554

Quantitative Information of Assets Measured at Fair Value on a Recurring Basis

The following table presents additional quantitative information about assets measured at fair value on a recurring basis for which the Company utilized Level 3 inputs to determine fair value at June 30, 2015:

(Dollars in thousands)
	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Asset-backed securities	$	145,371	Discounted Cash Flow	Discount Rates	1.3% - 6.3% (4.5%)
				Cumulative Default %	6.4% - 12.1% (9.1%)
				Loss Given Default	2.0% - 8.4% (2.9%)
Corporate debt - pooled trust	$	1,585	Discounted Cash Flow	Discount Rate	7.3% (7.3%)
preferred security				Cumulative Default %	2.8% - 78.0% (13.5%)
				Loss Given Default	85% - 100% (89.8%)
Mortgage servicing rights	$	5,994	Discounted Cash Flow	Discount Rate	8.0% - 17.0% (9.5%)
				Cost to Service	$40 - $100 ($51.8)
				Float Earnings Rate	0.25% (0.25%)

Summary of Assets Recorded at Fair Value on Non-Recurring Basis

The following tables detail the assets carried at fair value on a non-recurring basis at June 30, 2015 and December 31, 2014 and indicate the fair value hierarchy of the valuation technique utilized by the Company to determine fair value. There were no liabilities measured at fair value on a non-recurring basis at June 30, 2015 and December 31, 2014.

	Total Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(In thousands)			(Level 1)		(Level 2)		(Level 3)
June 30, 2015
Impaired loans	$	2,155	$	—	$	—	$	2,155
Other real estate owned	227		—		—		227
Total	$	2,382	$	—	$	—	$	2,382
December 31, 2014
Impaired loans	$	2,863	$	—	$	—	$	2,863
Other real estate owned	2,239		—		—		2,239
Total	$	5,102	$	—	$	—	$	5,102

Summary of Gains (Losses) on Assets Recorded at Fair Value on Non-Recurring Basis

Gains (losses) on assets recorded at fair value on a non-recurring basis are as follows:

	Three Months Ended   June 30,					Six Months Ended   June 30,
(In thousands)	2015		2014			2015			2014
Impaired loans	$	364	$	(367	)	$	(87	)	$	(647	)
Other real estate owned	213		139			168			171
Total	$	577	$	(228	)	$	81		$	(476	)

Summary of Carrying Value and Estimated Fair Values of Financial Instruments

As of June 30, 2015 and December 31, 2014, the carrying value and estimated fair values of the Company’s financial instruments are as described below:

	Carrying Value		Fair Value
(In thousands)			Level 1		Level 2		Level 3		Total
June 30, 2015
Financial assets:
Cash and cash equivalents	$	84,525	$	84,525	$	—	$	—	$	84,525
Available for sale securities	1,061,927		3,258		911,713		146,956		1,061,927
Held to maturity securities	14,992		—		15,978		—		15,978
Loans held for sale	28,017		—		28,017		—		28,017
Loans receivable-net	4,048,770		—		—		4,099,784		4,099,784
FHLBB stock	37,061		—		—		37,061		37,061
Accrued interest receivable	14,777		—		—		14,777		14,777
Derivative assets	6,184		—		6,184		—		6,184
Mortgage servicing rights	5,994		—		—		5,994		5,994
Financial liabilities:
Deposits	4,182,251		—		—		4,187,465		4,187,465
Mortgagors’ and investors’ escrow accounts	15,168		—		—		15,168		15,168
FHLBB advances and other borrowings	825,963		—		—		826,975		826,975
Derivative liabilities	7,318		—		7,318		—		7,318
December 31, 2014
Financial assets:
Cash and cash equivalents	$	86,952	$	86,952	$	—	$	—	$	86,952
Available for sale securities	1,053,011		3,299		912,505		137,207		1,053,011
Held to maturity securities	15,368		—		16,713		—		16,713
Loans held for sale	8,220		—		8,220		—		8,220
Loans receivable-net	3,877,063		—		—		3,919,432		3,919,432
FHLBB stock	31,950		—		—		31,950		31,950
Accrued interest receivable	14,212		—		—		14,212		14,212
Derivative assets	4,073		—		4,073		—		4,073
Mortgage servicing rights	4,729		—		—		4,729		4,729
Financial liabilities:
Deposits	4,035,311		—		—		3,899,658		3,899,658
Mortgagors’ and investors’ escrow accounts	13,004		—		—		13,004		13,004
FHLBB advances and other borrowings	777,314		—		—		773,786		773,786
Derivative liabilities	4,952		—		4,952		—		4,952

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Loans Receivable and Allowance for Loan Losses - Summary of Impaired Loans with and without Valuation Allowance (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Investment, Impaired loans without a valuation allowance	$ 44,102	$ 39,875
Unpaid Principal Balance, Impaired loans without a valuation allowance	64,423	46,949
Recorded Investment, Impaired loans with a valuation allowance	2,256	4,122
Unpaid Principal Balance, Impaired loans with a valuation allowance	2,365	4,487
Related Allowance, Impaired loans with a valuation allowance	87	1,259
Recorded Investment, Total impaired loans	46,358	43,997
Unpaid Principal Balance, Total impaired loans	66,788	51,436
Related Allowance, Total impaired loans	87	1,259
Residential Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, Impaired loans without a valuation allowance	17,102	15,233
Unpaid Principal Balance, Impaired loans without a valuation allowance	22,771	17,143
Recorded Investment, Impaired loans with a valuation allowance	1,036	748
Unpaid Principal Balance, Impaired loans with a valuation allowance	1,050	892
Related Allowance, Impaired loans with a valuation allowance	24	28
Recorded Investment, Total impaired loans	18,138	15,981
Related Allowance, Total impaired loans	24	28
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, Impaired loans without a valuation allowance	16,870	18,408
Unpaid Principal Balance, Impaired loans without a valuation allowance	22,077	21,202
Recorded Investment, Impaired loans with a valuation allowance	655	1,106
Unpaid Principal Balance, Impaired loans with a valuation allowance	655	1,271
Related Allowance, Impaired loans with a valuation allowance	22	316
Recorded Investment, Total impaired loans	17,525	19,514
Related Allowance, Total impaired loans	22	316
Construction [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, Impaired loans without a valuation allowance	3,548	2,384
Unpaid Principal Balance, Impaired loans without a valuation allowance	2,482	2,441
Recorded Investment, Impaired loans with a valuation allowance	185	226
Unpaid Principal Balance, Impaired loans with a valuation allowance	185	226
Related Allowance, Impaired loans with a valuation allowance	36	33
Recorded Investment, Total impaired loans	3,733	2,610
Related Allowance, Total impaired loans	36	33
Commercial Business Loans [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, Impaired loans without a valuation allowance	6,554	3,804
Unpaid Principal Balance, Impaired loans without a valuation allowance	17,052	6,129
Recorded Investment, Impaired loans with a valuation allowance	380	2,042
Unpaid Principal Balance, Impaired loans with a valuation allowance	475	2,098
Related Allowance, Impaired loans with a valuation allowance	5	882
Recorded Investment, Total impaired loans	6,934	5,846
Related Allowance, Total impaired loans	5	882
Installment and Collateral Loans [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment, Impaired loans without a valuation allowance	28	46
Unpaid Principal Balance, Impaired loans without a valuation allowance	41	34
Recorded Investment, Total impaired loans	28	46
Related Allowance, Total impaired loans	$ 0	$ 0

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Derivatives and Hedging Activities - Schedule of Interest Rate Swap Agreements and Non-Hedging Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Notional Amount		$ 627,786	$ 405,822
Estimated Fair Value, Net Asset (Liability)		(1,134)	(1,018)
Cash Flow Hedges [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Notional Amount		$ 25,000	$ 25,000
Weighted-Average Remaining Maturity		1 year 11 months 1 day	2 years 4 months 28 days
Weighted-Average Interest Rate Swaps, Received		0.26%	0.23%
Weighted-Average Interest Rate Swaps, Paid		0.90%	0.90%
Estimated Fair Value, Net Asset (Liability)		$ (33)	$ 72
Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | Future Borrowings [Member]
Derivative [Line Items]
Notional Amount		$ 150,000	$ 150,000
Weighted-Average Remaining Maturity		6 years 4 months 3 days	6 years 4 months 2 days
Weighted-Average Interest Rate Swaps, Paid		2.45%	2.45%
Estimated Fair Value, Net Asset (Liability)		$ (1,599)	$ (1,069)
Fair Value Hedge [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Notional Amount		$ 35,000	$ 35,000
Weighted-Average Remaining Maturity		2 years 2 months 23 days	2 years 8 months 19 days
Weighted-Average Interest Rate Swaps, Received		1.04%	1.04%
Weighted-Average Interest Rate Swaps, Paid	[1]	0.25%	0.24%
Estimated Fair Value, Net Asset (Liability)		$ 83	$ (82)
Non-Hedging Derivatives [Member] | Forward Loan Sale Commitments [Member]
Derivative [Line Items]
Notional Amount		$ 38,188	$ 14,091
Weighted-Average Remaining Maturity
Estimated Fair Value, Net Asset (Liability)		$ 62	$ (14)
Non-Hedging Derivatives [Member] | Derivative Loan Commitments [Member]
Derivative [Line Items]
Notional Amount		$ 16,138	$ 8,839
Weighted-Average Remaining Maturity
Estimated Fair Value, Net Asset (Liability)		$ 237	$ 213
Non-Hedging Derivatives [Member] | Loan Level Swaps-Dealer [Member]
Derivative [Line Items]
Notional Amount	[2]	$ 181,730	$ 86,446
Weighted-Average Remaining Maturity	[2]	8 years 2 months 15 days	8 years 8 months 9 days
Weighted-Average Interest Rate Swaps, Received	[2]	1.85%	1.98%
Weighted-Average Interest Rate Swaps, Paid	[2]	4.05%	4.34%
Estimated Fair Value, Net Asset (Liability)	[2]	$ (5,396)	$ (3,816)
Non-Hedging Derivatives [Member] | Loan Level Swaps-Borrowers [Member]
Derivative [Line Items]
Notional Amount	[2]	$ 181,730	$ 86,446
Weighted-Average Remaining Maturity	[2]	8 years 2 months 15 days	8 years 8 months 9 days
Weighted-Average Interest Rate Swaps, Received	[2]	4.05%	4.34%
Weighted-Average Interest Rate Swaps, Paid	[2]	1.85%	1.98%
Estimated Fair Value, Net Asset (Liability)	[2]	$ 5,512	$ 3,678

[1] The paying leg is one month LIBOR plus a fixed spread; above rate in effect as of the date indicated.

[2] The Company offers a loan level hedging product to qualifying commercial borrowers that seek to mitigate risk to rising interest rates. As such, the Company enters into equal and offsetting trades with dealer counterparties.

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Goodwill and Core Deposit Intangibles - Schedule of Goodwill and Core Deposit Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Goodwill
Beginning balance			$ 115,240	$ 1,070	$ 1,070
Acquisition of Legacy United					114,170
Adjustments			25
Ending balance	$ 115,265		115,265		115,240
Core Deposit Intangibles
Amortization expense	(449)	$ (321)	(930)	(321)
Ending balance	8,372		8,372
Estimated amortization expense for the years ending December 31,
2015 (remaining six months)	866		866
2016	1,604		1,604
2017	1,411		1,411
2018	1,219		1,219
2019	1,026		1,026
2020 and thereafter	2,246		2,246
Core Deposits [Member]
Core Deposit Intangibles
Beginning balance			9,302	$ 0	0
Acquisition of Legacy United					10,585
Amortization expense	(449)		(930)		(1,283)
Ending balance	$ 8,372		$ 8,372		$ 9,302

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Loans Receivable and Allowance for Loan Losses - Summary of Activity in the Accretable Yield Balance for PCI Loans (Detail) - Purchased Credit Impaired Loans [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Purchased Accounting Adjustments for Purchased Credit Impaired Loans
Balance at beginning of period	$ (708)	$ 0	$ (1,587)	$ 0
Acquisition	0	(2,235)	0	(2,235)
Accretion	78	327	177	327
Reclassification to nonaccretable balance	60	0	840	0
Balance at end of period	$ (570)	$ (1,908)	$ (570)	$ (1,908)

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ 26,357	$ (4,624)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Amortization of premiums and discounts on investments, net	2,618	911
Accretion of intangible assets and purchase accounting marks	(6,005)	(4,620)
Amortization of subordinated debt issuance costs	63	0
Share-based compensation expense	526	3,334
ESOP expense	147	873
Loss on extinguishment of debt	0	288
Tax benefit from stock-based awards	(182)	(360)
Provision for loan losses	5,973	2,530
Gain on sales of securities, net	(698)	(857)
Loans originated for sale	(181,985)	(60,989)
Proceeds from sales of loans held for sale	167,549	43,497
(Increase) decrease in mortgage servicing asset	(1,265)	312
Gain on sales of other real estate owned	(168)	(171)
Income from mortgage banking activities	(5,361)	(1,791)
Loss on disposal of equipment	168	0
Write-downs of other real estate owned	118	134
Depreciation and amortization	2,643	1,458
Loss on limited partnerships	1,346	0
Deferred income tax expense	4,306	5,804
Increase in cash surrender value of bank-owned life insurance	(1,664)	(1,272)
Net change in:
Deferred loan fees and premiums	(1,553)	(761)
Accrued interest receivable	(565)	(1,753)
Other assets	(7,611)	(10,085)
Accrued expenses and other liabilities	(659)	(3,233)
Net cash provided by (used in) operating activities	4,098	(31,375)
Cash flows from investing activities:
Proceeds from sales of available for sale securities	143,198	242,077
Proceeds from calls and maturities of available for sale securities	16,155	10,600
Principal payments on available for sale securities	48,134	22,847
Principal payments on held to maturity securities	361	403
Purchases of available for sale securities	(222,664)	(464,724)
Purchases of held to maturity securities	0	(2,342)
Cash acquired from United Financial Bancorp, Inc.	0	25,410
Redemption of FHLBB stock	0	1,968
Purchase of FHLBB stock	(5,111)	0
Proceeds from sale of other real estate owned	2,205	2,428
Purchases of loans	(5,448)	(4,601)
Loan originations, net of principal repayments	(166,816)	(105,717)
Purchase of bank-owned life insurance	0	0
Purchases of premises and equipment	(3,026)	(3,504)
Proceeds from sale of equipment	192	0
Net cash used in investing activities	(192,820)	(275,155)
Cash flows from financing activities:
Net increase in non-interest-bearing deposits	7,920	50,120
Net increase in interest-bearing deposits	140,944	250,324
Net decrease in mortgagors’ and investors’ escrow accounts	2,164	3,583
Net increase in short-term FHLBB advances	33,000	59,888
Repayments of long-term FHLBB advances	(4,646)	(12,466)
Proceeds from long-term FHLBB advances	65,000	18,549
Net decrease in other borrowings	(43,813)	(10,277)
Proceeds from exercise of stock options and stock purchase plan	2,345	929
Common stock repurchased	(5,694)	(1,131)
Cancellation of shares for tax withholding	(245)	(1,308)
Tax benefit from share-based awards	182	360
Cash dividend paid on common stock	(10,862)	(7,850)
Net cash provided by financing activities	186,295	350,721
Net (decrease) increase in cash and cash equivalents	(2,427)	44,191
Cash and cash equivalents, beginning of period	86,952	45,235
Cash and cash equivalents, end of period	84,525	89,426
Cash paid (refunded) during the year for:
Interest	17,704	6,310
Income taxes, net	(7,259)	415
Transfer of loans to other real estate owned	254	1,691
Decrease in due to broker, investment purchases	(1,105)	(5,859)
Decrease in due to broker, common stock buyback	$ (523)	$ 0

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Goodwill and Core Deposit Intangibles - Amortization of Acquired Core Deposits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Balance at June 30, 2015	$ 8,372		$ 8,372
Core deposit intangible amortization	449	$ 321	930	$ 321
Core Deposits [Member]
Finite-Lived Intangible Assets [Line Items]
Original Recorded Amount	10,585		10,585
Accumulated Amortization	(2,213)		(2,213)
Balance at June 30, 2015	8,372		$ 8,372		$ 9,302	$ 0
Core deposits, estimated useful life			10 years
Core deposit intangible amortization	$ 449		$ 930		$ 1,283

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Securities - Summary of Gross Unrealized Losses and Fair Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	$ 474,277	$ 341,043
Available for sale securities, Unrealized Loss Less Than 12 Months	(7,548)	(4,041)
Available for sale securities, Fair value more than 12 months	80,335	107,221
Available for sale securities, Unrealized Loss More Than 12 Months	(2,874)	(2,978)
Available for sale securities, Fair Value	554,612	448,264
Available for sale securities, Unrealized Losses	(10,422)	(7,019)
Debt Securities [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	463,344	328,327
Available for sale securities, Unrealized Loss Less Than 12 Months	(7,287)	(3,701)
Available for sale securities, Fair value more than 12 months	80,151	107,081
Available for sale securities, Unrealized Loss More Than 12 Months	(2,870)	(2,975)
Available for sale securities, Fair Value	543,495	435,408
Available for sale securities, Unrealized Losses	(10,157)	(6,676)
U.S. Government and Government-Sponsored Enterprise Obligations [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	0	0
Available for sale securities, Unrealized Loss Less Than 12 Months	0	0
Available for sale securities, Fair value more than 12 months	4,749	4,757
Available for sale securities, Unrealized Loss More Than 12 Months	(245)	(237)
Available for sale securities, Fair Value	4,749	4,757
Available for sale securities, Unrealized Losses	(245)	(237)
Government-Sponsored Residential Mortgage-Backed Securities [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	66,416	1,492
Available for sale securities, Unrealized Loss Less Than 12 Months	(1,074)	(11)
Available for sale securities, Fair value more than 12 months	18,539	19,785
Available for sale securities, Unrealized Loss More Than 12 Months	(366)	(148)
Available for sale securities, Fair Value	84,955	21,277
Available for sale securities, Unrealized Losses	(1,440)	(159)
Government-Sponsored Residential Collateralized Debt Obligations [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	98,728	35,769
Available for sale securities, Unrealized Loss Less Than 12 Months	(946)	(124)
Available for sale securities, Fair value more than 12 months	3,851	17,443
Available for sale securities, Unrealized Loss More Than 12 Months	(64)	(236)
Available for sale securities, Fair Value	102,579	53,212
Available for sale securities, Unrealized Losses	(1,010)	(360)
Government-Sponsored Commercial Mortgage-Backed Securities [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	8,897	14,118
Available for sale securities, Unrealized Loss Less Than 12 Months	(62)	(15)
Available for sale securities, Fair value more than 12 months	10,408	16,337
Available for sale securities, Unrealized Loss More Than 12 Months	(203)	(238)
Available for sale securities, Fair Value	19,305	30,455
Available for sale securities, Unrealized Losses	(265)	(253)
Government-Sponsored Commercial Collateralized Debt Obligations [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	32,375	62,477
Available for sale securities, Unrealized Loss Less Than 12 Months	(187)	(551)
Available for sale securities, Fair value more than 12 months	0	4,991
Available for sale securities, Unrealized Loss More Than 12 Months	0	(47)
Available for sale securities, Fair Value	32,375	67,468
Available for sale securities, Unrealized Losses	(187)	(598)
Asset-Backed Securities [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	38,548	128,808
Available for sale securities, Unrealized Loss Less Than 12 Months	(220)	(2,080)
Available for sale securities, Fair value more than 12 months	27,717	20,146
Available for sale securities, Unrealized Loss More Than 12 Months	(426)	(635)
Available for sale securities, Fair Value	66,265	148,954
Available for sale securities, Unrealized Losses	(646)	(2,715)
Corporate Debt Securities [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	46,889	30,634
Available for sale securities, Unrealized Loss Less Than 12 Months	(820)	(501)
Available for sale securities, Fair value more than 12 months	1,585	5,054
Available for sale securities, Unrealized Loss More Than 12 Months	(1,172)	(1,196)
Available for sale securities, Fair Value	48,474	35,688
Available for sale securities, Unrealized Losses	(1,992)	(1,697)
Obligations of States and Political Subdivisions [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	171,491	55,029
Available for sale securities, Unrealized Loss Less Than 12 Months	(3,978)	(419)
Available for sale securities, Fair value more than 12 months	13,302	18,568
Available for sale securities, Unrealized Loss More Than 12 Months	(394)	(238)
Available for sale securities, Fair Value	184,793	73,597
Available for sale securities, Unrealized Losses	(4,372)	(657)
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	1,110
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(7)
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value	1,110
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss	(7)
Marketable Equity Securities [Member]
Gain (Loss) on Investments [Line Items]
Available for sale securities, Fair value less than 12 months	10,933	12,716
Available for sale securities, Unrealized Loss Less Than 12 Months	(261)	(340)
Available for sale securities, Fair value more than 12 months	184	140
Available for sale securities, Unrealized Loss More Than 12 Months	(4)	(3)
Available for sale securities, Fair Value	11,117	12,856
Available for sale securities, Unrealized Losses	$ (265)	$ (343)

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Goodwill and Core Deposit Intangibles (Tables)

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill and Core Deposit Intangible Assets

The changes in the carrying amount of goodwill and core deposit intangible assets are summarized as follows:

(In thousands)	Goodwill		Core Deposit Intangibles
Balance at December 31, 2013	$	1,070	$	—
Acquisition of Legacy United	114,170		10,585
Amortization expense	—		(1,283		)
Balance at December 31, 2014	115,240		9,302
Adjustments	25		—
Amortization expense	—		(930		)
Balance at June 30, 2015	$	115,265	$	8,372
Estimated amortization expense for the years ending December 31,
2015 (remaining six months)			$	866
2016			1,604
2017			1,411
2018			1,219
2019			1,026
2020 and thereafter			2,246
Total remaining			$	8,372

Schedule of Core Deposit Intangible

The core deposit intangible is summarized in the following table:

(In thousands)	Original Recorded Amount		Accumulated Amortization			Balance at June 30, 2015
Core deposit intangible	$	10,585	$	(2,213	)	$	8,372

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Merger (Tables)

6 Months Ended

Jun. 30, 2015

Business Combinations [Abstract]

Summary of Merger

The following table summarizes the Merger on April 30, 2014:

(Dollars and shares in thousands)
				Transaction Related Items
Legacy United				Goodwill		Other Identifiable Intangibles		Shares Issued	Value of Legacy United Exercisable Options		Total Purchase Price
Balance at April 30, 2014
Assets		Equity
$	2,442,525	$	304,505	$	114,195	$	10,585	26,706	$	4,909	$	356,394

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Loans Receivable and Allowance for Loan Losses - Summary of How Loans were Modified as TDRs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Modifications [Line Items]
Extended Maturity	$ 1,650	$ 0	$ 1,850	$ 3,672
Adjusted Interest Rates	901	1,166	901	1,166
Adjusted Rate and Extended Maturity	522		597	709
Payment Deferral	814	0	814	0
Financing Receivable Modifications, Other	593	120	593
Residential Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Extended Maturity			0	0
Adjusted Interest Rates	901	884	901	884
Adjusted Rate and Extended Maturity	269		344	528
Payment Deferral	814	0	814	0
Financing Receivable Modifications, Other	593	120	593
Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Extended Maturity	538	0	538	0
Adjusted Interest Rates	0	282	0	282
Adjusted Rate and Extended Maturity	253		253
Payment Deferral			0
Construction [Member]
Financing Receivable, Modifications [Line Items]
Extended Maturity	564		564	3,672
Adjusted Interest Rates			0	0
Adjusted Rate and Extended Maturity			0	181
Payment Deferral			0	0
Commercial Business Loans [Member]
Financing Receivable, Modifications [Line Items]
Extended Maturity	$ 548	$ 0	748	0
Adjusted Interest Rates			0	0
Adjusted Rate and Extended Maturity			0	0
Payment Deferral			$ 0	$ 0

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Loans Receivable and Allowance for Loan Losses - Summary of Company's Loan Portfolio (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Real estate loans:
Total real estate loans	$ 3,432,332		$ 3,278,518
Commercial business loans	634,529		613,596
Installment and collateral loans	5,206		5,752
Total loans	4,072,067		3,897,866
Net deferred loan costs and premiums	5,559		4,006
Allowance for loan losses	(28,856)	$ (25,297)	(24,809)	$ (21,343)	$ (19,500)	$ (19,183)
Loans - net	4,048,770		3,877,063
Residential [Member]
Real estate loans:
Total real estate loans	1,501,813		1,413,739
Commercial Business Loans [Member]
Real estate loans:
Total real estate loans	1,763,751		1,678,936
Construction [Member]
Real estate loans:
Total real estate loans	$ 166,768		$ 185,843

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Borrowings (Tables)

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Contractual Maturities and Weighted-Average Rates of Outstanding Advances

The Bank is a member of the FHLBB. Contractual maturities and weighted-average rates of outstanding advances from the FHLBB as of June 30, 2015 and December 31, 2014 are summarized below:

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
2015	$	436,256	0.38	%	$	435,763	0.38	%
2016	78,649		0.77		19,714		1.53
2017	76,000		2.50		66,000		2.72
2018	41,291		1.66		16,784		2.19
2019 and thereafter	36,718		1.89		37,300		1.89
	$	668,914	0.83	%	$	575,561	0.84	%

Schedule of Other Borrowings by Category

The following table presents other borrowings by category as of the dates indicated:

(Dollars in thousands)	June 30, 2015		December 31, 2014
Subordinated debentures	$	79,386	$	79,288
Wholesale repurchase agreements	35,000		69,242
Customer repurchase agreements	31,858		41,335
Other	6,364		6,476
Total other borrowings	$	152,608	$	196,341

Schedule of Outstanding Borrowings Under Repurchase Agreements

The following table presents the Company’s outstanding borrowings under repurchase agreements as of June 30, 2015 and December 31, 2014:

	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight		Up to 1 Year		1 - 3 Years		Greater than 3 Years		Total
June 30, 2015
Repurchase Agreements
U.S. Treasury and agency securities	$	31,858	$	15,000	$	—	$	20,000	$	66,858
Total	$	31,858	$	15,000	$	—	$	20,000	$	66,858
December 31, 2014
Repurchase Agreements
U.S. Treasury and agency securities	$	41,335	$	49,242	$	—	$	20,000	$	110,577
Total	$	41,335	$	49,242	$	—	$	20,000	$	110,577

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Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2015

Schedule of Interest Rate Swap Agreements and Non-Hedging Derivative Assets and Liabilities

Information about interest rate swap agreements and non-hedging derivative assets and liabilities as of June 30, 2015 and December 31, 2014 is as follows:

	Notional Amount		Weighted-Average Remaining Maturity	Weighted-Average Rate						Estimated Fair Value, Net Asset (Liability)
				Received			Paid
	(In thousands)		(In years)							(In thousands)
June 30, 2015
Cash flow hedges:
Forward starting interest rate swaps on future borrowings	$	150,000	6.34	TBD		(1)	2.45	%		$	(1,599	)
Interest rate swaps	25,000		1.92	0.26	%		0.90	%		(33		)
Fair value hedges:
Interest rate swaps	35,000		2.23	1.04	%		0.25	%	(2)	83
Non-hedging derivatives:
Forward loan sale commitments	38,188		0.00							62
Derivative loan commitments	16,138		0.00							237
Loan level swaps - dealer(3)	181,730		8.21	1.85	%		4.05	%		(5,396		)
Loan level swaps - borrowers(3)	181,730		8.21	4.05	%		1.85	%		5,512
Total	$	627,786								$	(1,134	)
December 31, 2014
Cash flow hedges:
Forward starting interest rate swaps on future borrowings	$	150,000	6.34	TBD		(1)	2.45	%		$	(1,069	)
Interest rate swaps	25,000		2.41	0.23	%		0.90	%		72
Fair value hedges:
Interest rate swaps	35,000		2.72	1.04	%		0.24	%	(2)	(82		)
Non-hedging derivatives:
Forward loan sale commitments	14,091		0.00							(14		)
Derivative loan commitments	8,839		0.00							213
Loan level swaps - dealer(3)	86,446		8.69	1.98	%		4.34	%		(3,816		)
Loan level swaps - borrowers(3)	86,446		8.69	4.34	%		1.98	%		3,678
Total	$	405,822								$	(1,018	)

(1) The receiver leg of the cash flow hedges is floating rate and indexed to the 3-month USD-LIBOR-BBA, as determined two London banking days prior to the first day of each calendar quarter, commencing with the earliest effective trade. The earliest effective trade date for the cash flow hedges is July 1, 2015.

(2) The paying leg is one month LIBOR plus a fixed spread; above rate in effect as of the date indicated.

(3) The Company offers a loan level hedging product to qualifying commercial borrowers that seek to mitigate risk to rising interest rates. As such, the Company enters into equal and offsetting trades with dealer counterparties.

Tabular Disclosure of Fair Values of Derivative Instruments

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Condition as of June 30, 2015 and December 31, 2014:

	Derivative Assets					Derivative Liabilities
		Fair Value					Fair Value
(In thousands)	Balance Sheet Location	June 30 2015		Dec 31, 2014		Balance Sheet Location	June 30, 2015		Dec 31, 2014
Derivatives designated as hedging instruments:
Interest rate swap - cash flow hedge	Other Assets	$	46	$	140	Other Liabilities	$	1,678	$	1,137
Interest rate swap - fair value hedge	Other Assets	112		34		Other Liabilities	29		116
Total derivatives designated as hedging instruments		$	158	$	174		$	1,707	$	1,253
Derivatives not designated as hedging instruments:
Forward loan sale commitments	Other Assets	$	80	$	7	Other Liabilities	$	18	$	21
Derivative loan commitments	Other Assets	237		213			—		—
Interest rate swap - with customers	Other Assets	5,512		3,679			—		—
Interest rate swap - with counterparties		—		—		Other Liabilities	5,396		3,816
Total derivatives not designated as hedging		$	5,829	$	3,899		$	5,414	$	3,837

Designated as Hedging Instruments [Member]

Schedule of Effect of Derivative Instruments in Statements of Operations

The table below presents the effect of derivative instruments in the Company’s Statements of Changes in Stockholders’ Equity designated as hedging instruments for the three and six months ended June 30, 2015 and 2014:

Cash Flow Hedges
	Amount of Gain (Loss) Recognized in AOCI (Effective Portion)
Derivatives Designated as Cash Flow Hedging Instruments	Three Months Ended June 30,					Six Months Ended June 30,
	2015		2014			2015			2014
(In thousands)
Interest rate swaps	$	2,715	$	(2,366	)	$	(623	)	$	(4,887	)

	Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Derivatives Designated as Cash Flow Hedging Instruments	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015			2014
(In thousands)
Interest rate swaps	$	—	$	—	$	(12	)	$	—

The tables below present information pertaining to the Company’s derivatives in the Consolidated Statements of Operations designated as hedging instruments for the three and six months ended June 30, 2015 and 2014:

Fair Value Hedges
		Amount of Gain (Loss) Recognized in Income for Derivatives
Derivatives Designated as Fair Value Hedging Instruments	Location of Gain (Loss) Recognized in Income	Three Months Ended June 30,						Six Months Ended June 30,
		2015			2014			2015			2014
(In thousands)
Interest Rate Swaps	Interest income	$	(37	)	$	128		$	166		$	159
		Amount of Gain (Loss) Recognized in Income for Hedged Items
		Three Months Ended June 30,						Six Months Ended June 30,
		2015			2014			2015			2014
Interest Rate Swaps	Interest income	$	38		$	(128	)	$	(167	)	$	(159	)

Not Designated as Hedging Instruments [Member]

Schedule of Effect of Derivative Instruments in Statements of Operations

The table below presents information pertaining to the Company’s derivatives not designated as hedging instruments in the Consolidated Statements of Operations as of June 30, 2015 and 2014:

	Amount of Gain (Loss) Recognized in Income
	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2015			2014			2015		2014
Derivatives not designated as hedging instruments:
Derivative loan commitments	$	(485	)	$	340		$	24	$	585
Forward loan sale commitments	75			209			100		(227		)
Interest rate swaps	154			(104		)	227		(170		)
	$	(256	)	$	445		$	351	$	188

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Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Retained Earnings [Member]
Dividends paid per common share (usd per share)	$ 0.22	$ 0.20

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Share-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Activity Related to Stock Options

The following table presents the activity related to stock options outstanding, including options that have stock appreciation rights (“SARs”), under the Plans for the six months ended June 30, 2015:

	Number of Stock Options		Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2014	3,390,469		$	10.70
Granted	—		—
Exercised	(454,031	)	9.11
Forfeited or expired	(45,797	)	13.57
Outstanding at June 30, 2015	2,890,641		$	10.90	5.8	$	7.4
Stock options vested and exercisable at June 30, 2015	2,665,842		$	10.67	5.5	$	7.4

Activity for Restricted Stock

The following table presents the activity for restricted stock for the six months ended June 30, 2015:

	Number of Shares		Weighted-Average Grant-Date Fair Value
Unvested as of December 31, 2014	124,536		$	13.66
Granted	27,330		12.44
Vested	(45,594	)	13.69
Forfeited	—		—
Unvested as of June 30, 2015	106,272		$	13.33

ESOP Shares

The ESOP shares as of June 30, 2015 were as follows:

Allocated shares	1,152,426
Shares allocated for release	11,407
Unreleased shares	581,735
Total ESOP shares	1,745,568
Market value of unreleased shares at June 30, 2015 (in thousands)	$	7,978

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Net Income (Loss) Per Share - Schedule of Basic and Diluted Net (Loss) Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net income (loss) available to common stockholders	$ 13,332	$ (5,571)	$ 26,357	$ (4,624)
Weighted-average common shares outstanding	49,422,987	43,857,201	49,365,407	34,885,862
Less: average number of unallocated ESOP award shares	(585,475)	(678,741)	(588,311)	(694,767)
Weighted-average basic shares outstanding	48,837,512	43,178,460	48,777,096	34,191,095
Dilutive effect of stock options	471,677	0	515,814	0
Weighted-average diluted shares	49,309,189	43,178,460	49,292,910	34,191,095
Net income (loss) per share:
Basic (in usd per share)	$ 0.27	$ (0.13)	$ 0.54	$ (0.14)
Diluted (in usd per share)	$ 0.27	$ (0.13)	$ 0.53	$ (0.14)
Anti-dilutive stock options excluded from diluted earnings per share calculation	722,657	684,822	722,657	550,341

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Securities - Available for Sale and Held to Maturity Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Available-for-sale, Debt Securities
Amortized Cost	$ 1,036,717
Fair Value	1,031,709
Available-for-sale Securities, Total
Amortized Cost	1,066,643	$ 1,051,980
Gross Unrealized Gains	5,706	8,050
Gross Unrealized Losses	(10,422)	(7,019)
Available for sale securities - at fair value	1,061,927	1,053,011
Held-to-maturity, Debt Securities
Amortized Cost	14,992	15,368
Gross Unrealized Gains	993	1,345
Gross Unrealized Losses	(7)	0
Fair Value	15,978	16,713
Debt Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	1,036,717	1,026,271
Gross Unrealized Gains	5,149	7,535
Gross Unrealized Losses	(10,157)	(6,676)
Fair Value	1,031,709	1,027,130
U.S. Government and Government-Sponsored Enterprise Obligations [Member] | Debt Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	10,630	6,965
Gross Unrealized Gains	79	94
Gross Unrealized Losses	(245)	(237)
Fair Value	10,464	6,822
Government-Sponsored Residential Mortgage-Backed Securities [Member]
Held-to-maturity, Debt Securities
Amortized Cost	2,613	2,971
Gross Unrealized Gains	307	339
Gross Unrealized Losses	0	0
Fair Value	2,920	3,310
Government-Sponsored Residential Mortgage-Backed Securities [Member] | Debt Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	126,865	165,199
Gross Unrealized Gains	700	2,379
Gross Unrealized Losses	(1,440)	(159)
Fair Value	126,125	167,419
Government-Sponsored Residential Collateralized Debt Obligations [Member]
Available-for-sale, Debt Securities
Amortized Cost	280,162
Fair Value	280,889
Government-Sponsored Residential Collateralized Debt Obligations [Member] | Debt Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	280,162	237,128
Gross Unrealized Gains	1,737	1,365
Gross Unrealized Losses	(1,010)	(360)
Fair Value	280,889	238,133
Government-Sponsored Commercial Mortgage-Backed Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	54,111
Fair Value	54,472
Government-Sponsored Commercial Mortgage-Backed Securities [Member] | Debt Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	54,111	67,470
Gross Unrealized Gains	626	1,081
Gross Unrealized Losses	(265)	(253)
Fair Value	54,472	68,298
Government-Sponsored Commercial Collateralized Debt Obligations [Member]
Available-for-sale, Debt Securities
Amortized Cost	133,795
Fair Value	134,440
Government-Sponsored Commercial Collateralized Debt Obligations [Member] | Debt Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	133,795	129,547
Gross Unrealized Gains	832	737
Gross Unrealized Losses	(187)	(598)
Fair Value	134,440	129,686
Asset-Backed Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	162,957
Fair Value	163,182
Asset-Backed Securities [Member] | Debt Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	162,957	181,198
Gross Unrealized Gains	871	272
Gross Unrealized Losses	(646)	(2,715)
Fair Value	163,182	178,755
Corporate Debt Securities [Member] | Debt Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	52,472	43,907
Gross Unrealized Gains	52	35
Gross Unrealized Losses	(1,992)	(1,697)
Fair Value	50,532	42,245
Obligations of States and Political Subdivisions [Member]
Held-to-maturity, Debt Securities
Amortized Cost	12,379	12,397
Gross Unrealized Gains	686	1,006
Gross Unrealized Losses	(7)	0
Fair Value	13,058	13,403
Obligations of States and Political Subdivisions [Member] | Debt Securities [Member]
Available-for-sale, Debt Securities
Amortized Cost	215,725	194,857
Gross Unrealized Gains	252	1,572
Gross Unrealized Losses	(4,372)	(657)
Fair Value	211,605	195,772
Marketable Equity Securities [Member]
Available-for-sale, Equity Securities
Amortized Cost	29,926	25,709
Gross Unrealized Gains	557	515
Gross Unrealized Losses	(265)	(343)
Fair Value	30,218	25,881
Marketable Equity Securities [Member] | Banks [Member]
Available-for-sale, Equity Securities
Amortized Cost	26,846	22,645
Gross Unrealized Gains	375	277
Gross Unrealized Losses	(261)	(340)
Fair Value	26,960	22,582
Marketable Equity Securities [Member] | Industrial [Member]
Available-for-sale, Equity Securities
Amortized Cost	109	109
Gross Unrealized Gains	57	76
Gross Unrealized Losses	0	0
Fair Value	166	185
Marketable Equity Securities [Member] | Mutual Funds [Member]
Available-for-sale, Equity Securities
Amortized Cost	2,840	2,824
Gross Unrealized Gains	77	89
Gross Unrealized Losses	(4)	(3)
Fair Value	2,913	2,910
Marketable Equity Securities [Member] | Oil and Gas [Member]
Available-for-sale, Equity Securities
Amortized Cost	131	131
Gross Unrealized Gains	48	73
Gross Unrealized Losses	0	0
Fair Value	$ 179	$ 204

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Loans Receivable and Allowance for Loan Losses - Average Recorded Investment in Impaired Loans (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Impaired [Line Items]
Average Recorded Investment without a valuation allowance	$ 44,634	$ 21,479	$ 43,048	$ 21,493
Interest Income Recognized without a valuation allowance	699	139	1,277	295
Interest Income Recognized on a Cash Basis without a valuation allowance	450	115	842	270
Average Recorded Investment with a valuation allowance	1,818	2,856	2,586	2,105
Interest Income Recognized with a valuation allowance	34	32	56	63
Interest Income Recognized on a Cash Basis with a valuation allowance	2	13	8	41
Average Recorded Investment, Total	46,452	24,335	45,634	23,598
Interest Income Recognized, Total	733	171	1,333	358
Interest Income Recognized on a Cash Basis, Total	452	128	850	311
Residential Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment without a valuation allowance	16,703	9,677	16,213	9,781
Interest Income Recognized without a valuation allowance	222	92	398	179
Interest Income Recognized on a Cash Basis without a valuation allowance	176	77	326	164
Average Recorded Investment with a valuation allowance	518	1,551	595	1,235
Interest Income Recognized with a valuation allowance	24	31	24	57
Interest Income Recognized on a Cash Basis with a valuation allowance	0	13	0	36
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment without a valuation allowance	17,707	7,747	17,941	7,646
Interest Income Recognized without a valuation allowance	243	21	534	62
Interest Income Recognized on a Cash Basis without a valuation allowance	144	19	343	60
Average Recorded Investment with a valuation allowance	534	0	724	0
Interest Income Recognized with a valuation allowance	2	0	7	0
Interest Income Recognized on a Cash Basis with a valuation allowance	0	0	0	0
Construction [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment without a valuation allowance	3,638	2,809	3,220	2,752
Interest Income Recognized without a valuation allowance	(3)	19	45	34
Interest Income Recognized on a Cash Basis without a valuation allowance	19	13	20	28
Average Recorded Investment with a valuation allowance	185	0	199	0
Interest Income Recognized with a valuation allowance	13		13	0
Interest Income Recognized on a Cash Basis with a valuation allowance	0		0	0
Commercial Business Loans [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment without a valuation allowance	6,557	1,210	5,639	1,281
Interest Income Recognized without a valuation allowance	236	7	299	19
Interest Income Recognized on a Cash Basis without a valuation allowance	110	6	152	18
Average Recorded Investment with a valuation allowance	581	1,305	1,068	870
Interest Income Recognized with a valuation allowance	(5)	1	12	6
Interest Income Recognized on a Cash Basis with a valuation allowance	2	0	8	5
Installment and Collateral Loans [Member]
Financing Receivable, Impaired [Line Items]
Average Recorded Investment without a valuation allowance	29	36	35	33
Interest Income Recognized without a valuation allowance	1	0	1	1
Interest Income Recognized on a Cash Basis without a valuation allowance	$ 1	$ 0	$ 1	$ 0

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Share-Based Compensation Plans - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			$ 526	$ 3,334
Other non-interest expenses	$ 5,761	$ 4,099	10,341	6,213
Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	95		201
Restricted Stock [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	230	1,700	458	2,000
Tax benefit recorded	83	595	165	704
Stock Options [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	28	1,100	67	1,300
Tax benefit recorded	10	$ 385	24	$ 455
Options And Restricted Stock [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other non-interest expenses	$ 163		$ 324
2006 Stock Incentive Award Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under the plan after adjustment	530,587		530,587
Shares available for future grants	16,319		16,319
2006 Stock Incentive Award Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under the plan after adjustment	1,326,467		1,326,467
Shares available for future grants	19,404		19,404
2012 Stock Incentive Award Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	43,168		43,168
Shares authorized under the plan	684,395		684,395
2012 Stock Incentive Award Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	243,181		243,181
Shares authorized under the plan	1,710,989		1,710,989
Legacy United [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares of common stock available for future awards			375,494

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Consolidated Statements of Condition - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Cash and due from banks	$ 44,482	$ 43,416
Short-term investments	40,043	43,536
Total cash and cash equivalents	84,525	86,952
Available for sale securities - at fair value	1,061,927	1,053,011
Held to maturity securities - at amortized cost	14,992	15,368
Loans held for sale	28,017	8,220
Loans receivable (net of allowance for loan losses of $28,856 at June 30, 2015 and $24,809 at December 31, 2014)	4,048,770	3,877,063
Federal Home Loan Bank of Boston stock	37,061	31,950
Accrued interest receivable	14,777	14,212
Deferred tax asset, net	31,822	33,833
Premises and equipment, net	57,131	57,665
Goodwill	115,265	115,240
Core deposit intangible	8,372	9,302
Cash surrender value of bank-owned life insurance	124,287	122,622
Other real estate owned	227	2,239
Other assets	53,517	49,132
Total assets	5,680,690	5,476,809
Deposits:
Non-interest-bearing	610,279	602,359
Interest-bearing	3,571,972	3,432,952
Total deposits	4,182,251	4,035,311
Mortgagors’ and investors’ escrow accounts	15,168	13,004
Advances from the Federal Home Loan Bank	673,355	580,973
Other borrowings	152,608	196,341
Accrued expenses and other liabilities	45,313	48,772
Total liabilities	5,068,695	4,874,401
Stockholders’ equity:
Preferred stock (no par value; 2,000,000 authorized; no shares issued)	0	0
Common stock (no par value; authorized 120,000,000 and 60,000,000 shares; 49,494,671 and 49,537,700 shares issued and outstanding, at June 30, 2015 and December 31, 2014, respectively)	513,499	514,189
Additional paid-in capital	14,367	16,007
Unearned compensation - ESOP	(6,036)	(6,150)
Retained earnings	100,347	84,852
Accumulated other comprehensive loss, net of tax	(10,182)	(6,490)
Total stockholders’ equity	611,995	602,408
Total liabilities and stockholders’ equity	$ 5,680,690	$ 5,476,809

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Loans Receivable and Allowance for Loan Losses - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015 USD ($)	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($) Prepayment_Speed Grade	Jun. 30, 2014 USD ($)	Dec. 31, 2014 USD ($) Prepayment_Speed	Mar. 31, 2015 USD ($)	Apr. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Financing Receivable, Recorded Investment, Past Due [Line Items]
Gross loans	$ 4,072,067		$ 4,072,067		$ 3,897,866
Loans not considered as impaired	4,017,924		4,017,924		3,842,984
Loans determined to be impaired	46,358		46,358		43,997
Net recorded carrying amount of loans	4,048,770		4,048,770		3,877,063
Reclassifications from accretable to nonaccretable balance			840
Allowance for loan losses	$ 28,856	$ 21,343	$ 28,856	$ 21,343	$ 24,809	$ 25,297		$ 19,500	$ 19,183
Percentage allowance for loan losses in total loan	0.71%		0.71%		0.64%
Number of grade | Grade			9
Evaluation period			3 years
Impaired loans, commitment to advance	$ 1,200		$ 1,200
Aggregate principal balance of loans serviced for third parties	676,200		$ 676,200		$ 559,100
Minimum average prepayment speed | Prepayment_Speed			181
Maximum average prepayment speed | Prepayment_Speed					187
Servicing fee income	5,643	3,636	$ 9,474	5,522
Minimum [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Internal rates of return used for determination of fair value			8.40%		8.40%
Maximum [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Period after which loans are evaluated for impairment, residential and installment and collateral loans			90 days
Internal rates of return used for determination of fair value			10.50%		10.40%
Loan Servicing [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Servicing fee income	189	$ 256	$ 490	$ 496
Legacy United [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Gross loans							$ 1,880,000
Loans not considered as impaired							1,860,000
Loans receivable-net							1,830,000
Loans determined to be impaired							$ 18,500
Net recorded carrying amount of loans	7,900		7,900
Loans outstanding	$ 12,800		$ 12,800
Residential Real Estate [Member] | Maximum [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Period within which an updated appraisal is obtained after loan is determined to be impaired, residential property			30 days
Commercial Real Estate [Member] | Maximum [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Period within which an updated appraisal is obtained after loan is determined to be impaired, commercial real estate property			90 days

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Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Income tax benefit associated with the reclassification adjustment for gains realized in net income for sale of securities	$ 129	$ 206	$ 251	$ 300
Income tax benefit associated with the reclassification adjustment for expense realized in net income for interest rate swaps	0		4
Income tax expense associated with the reclassification adjustment for losses recognized in net periodic benefit cost	67	0	133	0
Income tax expense associated with the reclassification adjustment for prior service costs recognized in net periodic benefit cost	0	$ 1	1	$ 3
Income tax expense associated with the reclassification adjustment for losses recognized in net periodic benefit cost	$ 2		$ 4

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Merger - Additional Information (Detail) - Apr. 30, 2014 $ / shares in Units, $ in Thousands	USD ($) Location $ / shares shares
Loans At Acquisition Date [Line Items]
Number of branch locations	35
Express Drive-Up [Member]
Loans At Acquisition Date [Line Items]
Number of branch locations	2
Loan Production Offices [Member]
Loans At Acquisition Date [Line Items]
Number of branch locations	2
Legacy United [Member]
Loans At Acquisition Date [Line Items]
Acquired common shares outstanding, percentage	100.00%
Shares issued to acquiree entity | shares	1.3472
Total consideration paid at closing | $	$ 356,394
Closing price of the common share (in dollars per share) | $ / shares	$ 13.16

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Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss, Net of Taxes

Components of accumulated other comprehensive loss, net of taxes, consist of the following:

(In thousands)	Net Unrealized Gain (Loss) on Benefit Plans			Net Unrealized Gain (Loss) on Available For Sale Securities			Net Unrealized Gain (Loss) on Interest Rate Swaps			Accumulated Other Comprehensive Loss
December 31, 2014	$	(6,509	)	$	656		$	(637	)	$	(6,490	)
Change	391			(3,685		)	(398		)	(3,692		)
June 30, 2015	$	(6,118	)	$	(3,029	)	$	(1,035	)	$	(10,182	)

The components of accumulated other comprehensive loss, included in stockholders’ equity, are as follows:

(In thousands)	June 30, 2015			December 31, 2014
Benefit plans:
Unrecognized net actuarial loss	$	(9,569	)	$	(9,952	)
Tax effect	3,451			3,443
Net-of-tax amount	(6,118		)	(6,509		)
Securities available for sale:
Net unrealized gain (loss)	(4,716		)	1,030
Tax effect	1,687			(374		)
Net-of-tax amount	(3,029		)	656
Interest rate swaps:
Net unrealized loss	(1,632		)	(996		)
Tax effect	597			359
Net-of-tax amount	(1,035		)	(637		)
	$	(10,182	)	$	(6,490	)

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Borrowings - Other Borrowings by Category (Details) - Debt Instrument, Name [Domain] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Borrowings under repurchase agreements	$ 66,858	$ 110,577
Other borrowings	152,608	196,341
Subordinated Debt [Member]
Debt Instrument [Line Items]
Long-term Debt	79,386	79,288
Secured Debt And Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Other borrowings	$ 6,364	$ 6,476

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Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Note 13. Net Income (Loss) Per Share

The following table sets forth the calculation of basic and diluted net income (loss) per share for the three and six months ended June 30, 2015 and 2014:

	For the Three Months   Ended June 30,						For the Six Months   Ended June 30,
(In thousands, except share data)	2015			2014			2015			2014
Net income (loss) available to common stockholders	$	13,332		$	(5,571	)	$	26,357		$	(4,624	)
Weighted-average common shares outstanding	49,422,987			43,857,201			49,365,407			34,885,862
Less: average number of unallocated ESOP award shares	(585,475		)	(678,741		)	(588,311		)	(694,767		)
Weighted-average basic shares outstanding	48,837,512			43,178,460			48,777,096			34,191,095
Dilutive effect of stock options	471,677			—			515,814			—
Weighted-average diluted shares	49,309,189			43,178,460			49,292,910			34,191,095
Net income (loss) per share:
Basic	$	0.27		$	(0.13	)	$	0.54		$	(0.14	)
Diluted	$	0.27		$	(0.13	)	$	0.53		$	(0.14	)

For both the three and six months ended June 30, 2015, the weighted-average number of anti-dilutive stock options excluded from diluted earnings per share were 722,657. For the three and six months ended June 30, 2014, the weighted-average number of anti-dilutive stock options excluded from diluted earnings per share were 684,822 shares and 550,341 shares, respectively. For the 2015 periods shown, the stock options are anti-dilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented. For the 2014 periods shown, no potential common shares are included in the computation of diluted per share amounts when a loss exists.

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Net Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income Per Share

The following table sets forth the calculation of basic and diluted net income (loss) per share for the three and six months ended June 30, 2015 and 2014:

	For the Three Months   Ended June 30,						For the Six Months   Ended June 30,
(In thousands, except share data)	2015			2014			2015			2014
Net income (loss) available to common stockholders	$	13,332		$	(5,571	)	$	26,357		$	(4,624	)
Weighted-average common shares outstanding	49,422,987			43,857,201			49,365,407			34,885,862
Less: average number of unallocated ESOP award shares	(585,475		)	(678,741		)	(588,311		)	(694,767		)
Weighted-average basic shares outstanding	48,837,512			43,178,460			48,777,096			34,191,095
Dilutive effect of stock options	471,677			—			515,814			—
Weighted-average diluted shares	49,309,189			43,178,460			49,292,910			34,191,095
Net income (loss) per share:
Basic	$	0.27		$	(0.13	)	$	0.54		$	(0.14	)
Diluted	$	0.27		$	(0.13	)	$	0.53		$	(0.14	)

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 15. Commitments and Contingencies

Financial Instruments With Off-Balance Sheet Risk

In the normal course of business, the Company is a party to financial instruments with off-balance sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit through issuing standby letters of credit and undisbursed portions of construction loans and involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized on the Consolidated Statements of Condition. The contractual amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments.

The contractual amounts of commitments to extend credit represent the amounts of potential accounting loss should the contract be fully drawn upon, the customer defaults and the value of any existing collateral obligations is deemed worthless. The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. Off-balance sheet financial instruments whose contract amounts represent credit risk are as follows at June 30, 2015 and December 31, 2014:

(In thousands)	June 30, 2015		December 31, 2014
Commitments to extend credit:
Commitment to grant loans	$	288,253	$	128,766
Undisbursed construction loans	107,922		144,118
Undisbursed home equity lines of credit	307,817		321,346
Undisbursed commercial lines of credit	308,704		295,639
Standby letters of credit	11,838		12,547
Unused checking overdraft lines of credit	1,335		1,304
Total	$	1,025,869	$	903,720

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Since these commitments could expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include residential and commercial property, accounts receivable, inventory, property, plant and equipment, deposits, and securities.

Other Commitments

In conjunction with its merger with Legacy United, the Company acquired investments in partnerships, including low income housing tax credit and new markets housing tax credit partnerships. Additionally, in September 2014, the Company invested in a tax credit partnership associated with alternative energy. In continuing with the alternative energy trend, the Company invested in a second alternative energy tax credit partnership which closed in March of 2015. The net carrying balance of all of the partnership investments totaled $22.5 million at June 30, 2015 and is included in other assets in the consolidated statement of condition. At June 30, 2015, the Company was contractually committed under these limited partnership agreements to make additional capital contributions of approximately $986,000, which constitutes our maximum potential obligation to these partnerships. The Company makes additional investments in response to formal written requests, rather than a funding schedule. Funding requests are submitted when the partnerships plan to make additional investments.

Legal Matters

The Company is involved in various legal proceedings that have arisen in the normal course of business. The Company is not involved in any legal proceedings deemed to be material as of June 30, 2015.

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Derivatives and Hedging Activities - Schedule of Interest Rate Swap Agreements and Non-Hedging Derivative Assets and Liabilities (Additional Information) (Detail)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Trade date for cash flow hedges	Jul. 01, 2015
Description of variable rate basis	One month LIBOR plus a fixed spread

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Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Unearned Compensation - ESOP [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]
Balance at Dec. 31, 2013	$ 299,382	$ 243,776	$ 15,808	$ (7,151)	$ 96,078	$ (4,766)	$ (44,363)
Balance, shares at Dec. 31, 2013		29,456,290					3,487,886
Increase (Decrease) in Stockholders' Equity
Comprehensive income	(15)				(4,624)	4,609
Issuance of common stock for acquisition of United Financial Bancorp, Inc., value	358,069	$ 358,069			0
Issuance of common stock for acquisition of United Financial Bancorp, Inc., shares		26,706,401
Cancellation of treasury shares, value	0	$ (44,226)					$ 44,226
Cancellation of treasury shares, shares		(3,476,270)					3,476,270
Common stock repurchased, value	(1,131)	$ (1,131)
Common stock repurchased, shares		(89,195)
Share-based compensation expense	3,334		3,334
ESOP shares released or committed to be released	873		373	500
Shares issued for stock options exercised, value	847	$ 2,598	(1,751)
Shares issued for stock options exercised, shares		180,973
Shares issued for restricted stock grants, value	0	$ 1,752	(1,752)
Shares issued for restricted stock grants, shares		128,233
Cancellation of shares for tax withholding, value	(1,308)	$ (322)	(986)
Cancellation of shares for tax withholding, shares		(96,832)
Reissuance of common shares in connection with stock options exercised, value	82		(55)				$ 137
Reissuance of common shares in connection with stock options exercised, shares							(11,616)
Tax benefit from stock-based awards	360		360
Dividends paid ($0.22 and 0.20 per common share)	(7,850)				(7,850)
Balance at Jun. 30, 2014	652,643	$ 560,516	15,331	(6,651)	83,604	(157)	$ 0
Balance, shares at Jun. 30, 2014		52,809,600					0
Balance at Dec. 31, 2014	$ 602,408	$ 514,189	16,007	(6,150)	84,852	(6,490)	$ 0
Balance, shares at Dec. 31, 2014	49,537,700	49,537,700					0
Increase (Decrease) in Stockholders' Equity
Comprehensive income	$ 22,665				26,357	(3,692)
Common stock repurchased, value	(5,171)	$ (5,171)
Common stock repurchased, shares		(377,700)
Share-based compensation expense	526		526
ESOP shares released or committed to be released	147		33	114
Shares issued for stock options exercised, value	$ 2,345	$ 4,325	(1,980)
Shares issued for stock options exercised, shares	454,031	324,908
Shares issued for restricted stock grants, value	$ 0	$ 340	(340)
Shares issued for restricted stock grants, shares		27,330
Cancellation of shares for tax withholding, value	(245)	$ (184)	(61)
Cancellation of shares for tax withholding, shares		(17,567)
Tax benefit from stock-based awards	182		182
Dividends paid ($0.22 and 0.20 per common share)	(10,862)				(10,862)
Balance at Jun. 30, 2015	$ 611,995	$ 513,499	$ 14,367	$ (6,036)	$ 100,347	$ (10,182)	$ 0
Balance, shares at Jun. 30, 2015	49,494,671	49,494,671					0

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Consolidated Statements of Condition (Parenthetical) - USD ($) $ in Thousands, None in scaling factor is -9223372036854775296	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for loan losses, loans receivable	$ 28,856	$ 24,809
Preferred stock, par value (in dollars per share)
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued
Common stock, par value (in dollars per share)
Common stock, shares authorized	120,000,000	60,000,000
Common stock, shares issued	49,494,671	49,537,700
Common stock, shares outstanding	49,494,671	49,537,700

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Derivatives and Hedging Activities

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Activities

Note 8. Derivatives and Hedging Activities

Risk Management Objective of Using Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposure to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. The Company also has interest rate derivatives that result from a service provided to certain qualifying customers. The Company manages a matched book with respect to these derivative instruments in order to minimize its net risk exposure resulting from such transactions.

Information about interest rate swap agreements and non-hedging derivative assets and liabilities as of June 30, 2015 and December 31, 2014 is as follows:

	Notional Amount		Weighted-Average Remaining Maturity	Weighted-Average Rate						Estimated Fair Value, Net Asset (Liability)
				Received			Paid
	(In thousands)		(In years)							(In thousands)
June 30, 2015
Cash flow hedges:
Forward starting interest rate swaps on future borrowings	$	150,000	6.34	TBD		(1)	2.45	%		$	(1,599	)
Interest rate swaps	25,000		1.92	0.26	%		0.90	%		(33		)
Fair value hedges:
Interest rate swaps	35,000		2.23	1.04	%		0.25	%	(2)	83
Non-hedging derivatives:
Forward loan sale commitments	38,188		0.00							62
Derivative loan commitments	16,138		0.00							237
Loan level swaps - dealer(3)	181,730		8.21	1.85	%		4.05	%		(5,396		)
Loan level swaps - borrowers(3)	181,730		8.21	4.05	%		1.85	%		5,512
Total	$	627,786								$	(1,134	)
December 31, 2014
Cash flow hedges:
Forward starting interest rate swaps on future borrowings	$	150,000	6.34	TBD		(1)	2.45	%		$	(1,069	)
Interest rate swaps	25,000		2.41	0.23	%		0.90	%		72
Fair value hedges:
Interest rate swaps	35,000		2.72	1.04	%		0.24	%	(2)	(82		)
Non-hedging derivatives:
Forward loan sale commitments	14,091		0.00							(14		)
Derivative loan commitments	8,839		0.00							213
Loan level swaps - dealer(3)	86,446		8.69	1.98	%		4.34	%		(3,816		)
Loan level swaps - borrowers(3)	86,446		8.69	4.34	%		1.98	%		3,678
Total	$	405,822								$	(1,018	)

(1) The receiver leg of the cash flow hedges is floating rate and indexed to the 3-month USD-LIBOR-BBA, as determined two London banking days prior to the first day of each calendar quarter, commencing with the earliest effective trade. The earliest effective trade date for the cash flow hedges is July 1, 2015.

(2) The paying leg is one month LIBOR plus a fixed spread; above rate in effect as of the date indicated.

(3) The Company offers a loan level hedging product to qualifying commercial borrowers that seek to mitigate risk to rising interest rates. As such, the Company enters into equal and offsetting trades with dealer counterparties.

Cash Flow Hedges of Interest Rate Risk

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.

The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. During the three and six months ended June 30, 2015, the Company did not record any hedge ineffectiveness.

Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. The Company expects to reclassify $1.5 million from accumulated other comprehensive loss to interest expense during the next 12 months.

The Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of 36 months (excluding forecasted transactions related to the payment of variable interest on existing financial instruments).

As of June 30, 2015, the Company had six outstanding interest rate derivatives with a notional value of $175.0 million that were designated as cash flow hedges of interest rate risk.

Fair Value Hedges of Interest Rate Risk

The Company is exposed to changes in the fair value of certain of its fixed rate obligations due to changes in benchmark interest rates. The Company uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the benchmark interest rate. Interest rate swaps designated as fair value hedges involve the receipt of fixed-rate amounts from a counterparty in exchange for the Company making variable rate payments over the life of the agreements without the exchange of the underlying notional amount.

For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting gain or loss on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged items in the same line item as the offsetting gain or loss on the related derivatives. For the three and six months ended June 30, 2015, the Company recognized a negligible net reduction to interest expense. For the three months ended June 30, 2014, the Company recognized a negligible net reduction to interest expense related to net settlements. For the six months ended June 30, 2014 the Company recognized a net reduction to interest expense related to net settlements of $23,000. Amounts recognized as interest expense related to hedge ineffectiveness were negligible.

As of June 30, 2015, the Company had three outstanding interest rate derivatives with a notional amount of $35.0 million that were designated as a fair value hedge of interest rate risk.

Non-Designated Hedges

Qualifying derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers, which the Company implemented during the second quarter of 2013. The Company executes interest rate derivatives with commercial banking customers to facilitate their respective risk management strategies. Those interest rate derivatives are simultaneously hedged by offsetting derivatives that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate derivatives associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings.

As of June 30, 2015, the Company had 28 borrower-facing interest rate derivatives with an aggregate notional amount of $181.7 million and 28 broker derivatives with an aggregate notional value amount of $181.7 million related to this program.

As of June 30, 2015 the Company had two risk participation agreements with two counterparties related to a loan level interest rate swap with two of its commercial banking customers. These agreements were entered into in conjunction with credit enhancements provided to the borrowers by the counterparties. Therefore, if the borrowers default, the counterparties are responsible for a percentage of the exposure. This risk participation agreements are a guarantee of performance on a derivative and accordingly, are recorded at fair value on the Company’s Consolidated Statements of Financial Condition. At June 30, 2015, the notional amount of the risk participation agreements was $6.8 million, reflecting the counterparty participation level of 46.9%.

Derivative Loan Commitments

Additionally, the Company enters into mortgage loan commitments that are also referred to as derivative loan commitments if the loan that will result from exercise of the commitment will be held for sale upon funding. The Company enters into commitments to fund residential mortgage loans at specified rates and times in the future, with the intention that these loans will subsequently be sold in the secondary market.

Outstanding derivative loan commitments expose the Company to the risk that the price of the loans arising from exercise of the loan commitment might decline from inception of the rate lock to funding of the loan due to increases in mortgage interest rates. If interest rates increase, the value of these loan commitments decreases. Conversely, if interest rates decrease, the value of these loan commitments increases.

Forward Loan Sale Commitments

To protect against the price risk inherent in derivative loan commitments, the Company utilizes both “mandatory delivery” and “best efforts” forward loan sale commitments to mitigate the risk of potential decreases in the values of loans that would result from the exercise of the derivative loan commitments.

With a “mandatory delivery” contract, the Company commits to deliver a certain principal amount of mortgage loans to an investor at a specified price on or before a specified date. If the Company fails to deliver the amount of mortgages necessary to fulfill the commitment by the specified date, it is obligated to pay a “pair-off” fee, based on then-current market prices, to the investor to compensate the investor for the shortfall.

With a “best efforts” contract, the Company commits to deliver an individual mortgage loan of a specified principal amount and quality to an investor if the loan to the underlying borrower closes. Generally, the price the investor will pay the seller for an individual loan is specified prior to the loan being funded (e.g., on the same day the lender commits to lend funds to a potential borrower). The Company expects that these forward loan sale commitments will experience changes in fair value opposite to the change in fair value of derivative loan commitments.

Fair Values of Derivative Instruments on the Statement of Condition

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Condition as of June 30, 2015 and December 31, 2014:

	Derivative Assets					Derivative Liabilities
		Fair Value					Fair Value
(In thousands)	Balance Sheet Location	June 30 2015		Dec 31, 2014		Balance Sheet Location	June 30, 2015		Dec 31, 2014
Derivatives designated as hedging instruments:
Interest rate swap - cash flow hedge	Other Assets	$	46	$	140	Other Liabilities	$	1,678	$	1,137
Interest rate swap - fair value hedge	Other Assets	112		34		Other Liabilities	29		116
Total derivatives designated as hedging instruments		$	158	$	174		$	1,707	$	1,253
Derivatives not designated as hedging instruments:
Forward loan sale commitments	Other Assets	$	80	$	7	Other Liabilities	$	18	$	21
Derivative loan commitments	Other Assets	237		213			—		—
Interest rate swap - with customers	Other Assets	5,512		3,679			—		—
Interest rate swap - with counterparties		—		—		Other Liabilities	5,396		3,816
Total derivatives not designated as hedging		$	5,829	$	3,899		$	5,414	$	3,837

Effect of Derivative Instruments in the the Company’s Consolidated Statements of Net Operations and Changes in Stockholders’ Equity

The table below presents the effect of derivative instruments in the Company’s Statements of Changes in Stockholders’ Equity designated as hedging instruments for the three and six months ended June 30, 2015 and 2014:

Cash Flow Hedges
	Amount of Gain (Loss) Recognized in AOCI (Effective Portion)
Derivatives Designated as Cash Flow Hedging Instruments	Three Months Ended June 30,					Six Months Ended June 30,
	2015		2014			2015			2014
(In thousands)
Interest rate swaps	$	2,715	$	(2,366	)	$	(623	)	$	(4,887	)

	Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Derivatives Designated as Cash Flow Hedging Instruments	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015			2014
(In thousands)
Interest rate swaps	$	—	$	—	$	(12	)	$	—

The tables below present information pertaining to the Company’s derivatives in the Consolidated Statements of Operations designated as hedging instruments for the three and six months ended June 30, 2015 and 2014:

Fair Value Hedges
		Amount of Gain (Loss) Recognized in Income for Derivatives
Derivatives Designated as Fair Value Hedging Instruments	Location of Gain (Loss) Recognized in Income	Three Months Ended June 30,						Six Months Ended June 30,
		2015			2014			2015			2014
(In thousands)
Interest Rate Swaps	Interest income	$	(37	)	$	128		$	166		$	159
		Amount of Gain (Loss) Recognized in Income for Hedged Items
		Three Months Ended June 30,						Six Months Ended June 30,
		2015			2014			2015			2014
Interest Rate Swaps	Interest income	$	38		$	(128	)	$	(167	)	$	(159	)

The table below presents information pertaining to the Company’s derivatives not designated as hedging instruments in the Consolidated Statements of Operations as of June 30, 2015 and 2014:

	Amount of Gain (Loss) Recognized in Income
	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2015			2014			2015		2014
Derivatives not designated as hedging instruments:
Derivative loan commitments	$	(485	)	$	340		$	24	$	585
Forward loan sale commitments	75			209			100		(227		)
Interest rate swaps	154			(104		)	227		(170		)
	$	(256	)	$	445		$	351	$	188

Credit-risk-related Contingent Features

The Company has agreements with each of its derivative counterparties that contain a provision where if the counterparty defaults on any of its indebtedness or fails to maintain a well-capitalized rating, then the counterparty could also be declared in default on its derivative obligations and could be required to terminate its derivative positions with the counterparty.

As of June 30, 2015, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $7.1 million. As of June 30, 2015, the Company has minimum collateral posting thresholds with certain of its derivative counterparties and has posted collateral of $5.0 million against its obligations under these agreements. A degree of netting occurs on occasions where the Company has exposure to a counterparty and the counterparty has exposure to the Company. If the Company had breached any of these provisions at June 30, 2015, it could have been required to settle its obligations under the agreements at the termination value and would have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the respective counterparty.

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Commitments and Contingencies - Additional Information (Details) - Tax Credit Partnership $ in Thousands	Jun. 30, 2015 USD ($)
Other Commitments [Line Items]
Net carrying balance of investments	$ 22,500
Capital contribution commitments	$ 986

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Fair Value Measurement - Summary of Carrying Value and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financial assets:
Available for sale securities	$ 1,061,927	$ 1,053,011
Held to maturity securities	15,978	16,713
Loans held for sale	28,000	8,200
Financial liabilities:
FHLBB advances and other borrowings	673,355	580,973
Carrying Value [Member]
Financial assets:
Cash and cash equivalents	84,525	86,952
Available for sale securities	1,061,927	1,053,011
Held to maturity securities	14,992	15,368
Loans held for sale	28,017	8,220
Loans receivable-net	4,048,770	3,877,063
FHLBB stock	37,061	31,950
Accrued interest receivable	14,777	14,212
Derivative assets	6,184	4,073
Mortgage servicing rights	5,994	4,729
Financial liabilities:
Deposits	4,182,251	4,035,311
Mortgagors’ and investors’ escrow accounts	15,168	13,004
FHLBB advances and other borrowings	825,963	777,314
Mortgage loan derivative liabilities	7,318	4,952
Fair Value [Member]
Financial assets:
Cash and cash equivalents	84,525	86,952
Available for sale securities	1,061,927	1,053,011
Held to maturity securities	15,978	16,713
Loans held for sale	28,017	8,220
Loans receivable-net	4,099,784	3,919,432
FHLBB stock	37,061	31,950
Accrued interest receivable	14,777	14,212
Derivative assets	6,184	4,073
Mortgage servicing rights	5,994	4,729
Financial liabilities:
Deposits	4,187,465	3,899,658
Mortgagors’ and investors’ escrow accounts	15,168	13,004
FHLBB advances and other borrowings	826,975	773,786
Mortgage loan derivative liabilities	7,318	4,952
Fair Value [Member] | Level 1 [Member]
Financial assets:
Cash and cash equivalents	84,525	86,952
Available for sale securities	3,258	3,299
Fair Value [Member] | Level 2 [Member]
Financial assets:
Available for sale securities	911,713	912,505
Held to maturity securities	15,978	16,713
Loans held for sale	28,017	8,220
Derivative assets	6,184	4,073
Financial liabilities:
FHLBB advances and other borrowings	0	0
Mortgage loan derivative liabilities	7,318	4,952
Fair Value [Member] | Level 3 [Member]
Financial assets:
Available for sale securities	146,956	137,207
Loans receivable-net	4,099,784	3,919,432
FHLBB stock	37,061	31,950
Accrued interest receivable	14,777	14,212
Mortgage servicing rights	5,994	4,729
Financial liabilities:
Deposits	4,187,465	3,899,658
Mortgagors’ and investors’ escrow accounts	15,168	13,004
FHLBB advances and other borrowings	$ 826,975	$ 773,786

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Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	UBNK
Entity Registrant Name	UNITED FINANCIAL BANCORP, INC.
Entity Central Index Key	0001501364
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		49,502,326

XML

Share-Based Compensation Plans

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation Plans

Note 9. Share-Based Compensation Plans

The Company maintains and operates the Rockville Financial, Inc. 2006 Stock Incentive Award Plan (the “2006 Plan”) as approved by the Company’s Board and stockholders. The 2006 Plan allows the Company to use stock options, stock awards, stock appreciation rights and performance awards to attract, retain and reward performance of qualified employees and others who contribute to the success of the Company. The 2006 Plan allows for maximum issuances of 530,587 restricted stock shares and 1,326,467 stock options. As of June 30, 2015, 16,319 restricted stock shares and 19,404 stock options remained available for future grants under the 2006 Plan.

The Company maintains and operates the Rockville Financial, Inc. 2012 Stock Incentive Plan (the “2012 Plan”) as approved by the Company’s Board and stockholders. The 2012 Plan allows the Company to use stock options, stock awards, and performance awards to attract, retain and reward performance of qualified employees and others who contribute to the success of the Company. The 2012 Plan allows for the issuance of a maximum of 684,395 restricted stock shares and 1,710,989 stock options. As of June 30, 2015, 43,168 restricted stock shares and 243,181 stock options remained available for future grants under the 2012 Plan.

In connection with the merger, the Company assumed the following Legacy United share-based compensation plans: (a) United Financial Bancorp, Inc. 2006 Stock-Based Incentive Plan, (b) United Financial Bancorp, Inc. 2008 Equity Incentive Plan, (c) CNB Financial Corp. 2008 Equity Incentive Plan, and (d) CNB Amended and Restated Stock Option Plan collectively referred to as “the Legacy United Stock Plans.” As of June 30, 2015, 375,494 shares remained available for future grants under the Legacy United Stock Plans.

For the six-month period ended June 30, 2015, total employee and Director share-based compensation expense recognized for stock options and restricted stock was $67,000 with a related tax benefit of $24,000 and $458,000 with a related tax benefit of $165,000, respectively. Of the total expense amount for the six-month period, the amount for Director share-based compensation expense recognized (in the Consolidated Statements of Operations as other non-interest expense) was $201,000, and the amount for officer share-based compensation expense recognized (in the Consolidated Statements of Operations as salaries and employee benefit expense) was $324,000. For the six-month period ended June 30, 2014, total employee and Director share-based compensation expense recognized for stock options and restricted stock was $1.3 million with a related tax benefit of $455,000 and $2.0 million with a related tax benefit of $704,000, respectively.

For the three-month period ended June 30, 2015, total employee and Director share-based compensation expense recognized for stock options and restricted stock was $28,000 with a related tax benefit of $10,000 and $230,000 with a related tax benefit of $83,000, respectively. Of the total expense amount for the three-month period, the amount for Director share-based compensation expense recognized (in the Consolidated Statements of Operations as other non-interest expense) was $95,000, and the amount for officer share-based compensation expense recognized (in the Consolidated Statements of Operations as salaries and employee benefit expense) was $163,000. For the three-month period ended June 30, 2014, total employee and Director share-based compensation expense recognized for stock options and restricted stock was $1.1 million with a related tax benefit of $385,000 and $1.7 million with a related tax benefit of $595,000, respectively.

The fair values of stock option and restricted stock awards, measured at grant date, are amortized to compensation expense on a straight-line basis over the vesting period. The Company accelerates the recognition of compensation costs for 2006 Plan share-based awards granted to retirement-eligible employees and Directors and employees and Directors who become retirement-eligible prior to full vesting of the award because the Company’s incentive compensation plans allow for full vesting at the time an employee or Director retires. Share-based compensation granted to non-retirement-eligible individuals pursuant to the 2006 Plan and share-based compensation granted to all individuals pursuant to the 2012 Plan are expensed over the normal vesting period as established by each plan.

Stock Options

The following table presents the activity related to stock options outstanding, including options that have stock appreciation rights (“SARs”), under the Plans for the six months ended June 30, 2015:

	Number of Stock Options		Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2014	3,390,469		$	10.70
Granted	—		—
Exercised	(454,031	)	9.11
Forfeited or expired	(45,797	)	13.57
Outstanding at June 30, 2015	2,890,641		$	10.90	5.8	$	7.4
Stock options vested and exercisable at June 30, 2015	2,665,842		$	10.67	5.5	$	7.4

As of June 30, 2015, the unrecognized cost related to outstanding stock options was $405,000 and will be recognized over a weighted-average period of 3.1 years.

There were no stock options granted during the six months ended June 30, 2015. There were 397,095 stock options granted during the six months ended June 30, 2014.

Options exercised during the six months ended June 30, 2015 include awards that were originally granted as tandem SARs. Therefore, if the SAR component is exercised, it will not equate to the number of shares issued due to the conversion of the SAR option value to the actual share value at exercise date. Included in total options exercised during the six months ended June 30, 2015, were 398,302 SAR options which converted to 269,179 issued shares.

Restricted Stock

Restricted stock provides grantees with rights to shares of common stock upon completion of a service period. During the restriction period, all shares are considered outstanding and dividends are paid on the restricted stock. During the six months ended June 30, 2015, the Company issued 27,330 shares of restricted stock from shares available under the Company’s 2012 Plan to certain executives and directors. During the six months ended June 30, 2015, the weighted-average grant date fair value was $12.44 per share and the restricted stock awards vest in equal annual installments on the anniversary date over a 3 year period. The following table presents the activity for restricted stock for the six months ended June 30, 2015:

	Number of Shares		Weighted-Average Grant-Date Fair Value
Unvested as of December 31, 2014	124,536		$	13.66
Granted	27,330		12.44
Vested	(45,594	)	13.69
Forfeited	—		—
Unvested as of June 30, 2015	106,272		$	13.33

As of June 30, 2015, there was $1.1 million of total unrecognized compensation cost related to unvested restricted stock, which is expected to be recognized over a weighted-average period of 2.1 years.

Employee Stock Ownership Plan

In connection with its reorganization and stock offering completed in 2005, the Company established an Employee Stock Ownership Plan (“ESOP”) to provide substantially all employees of the Company the opportunity to also become shareholders. The ESOP borrowed $7.8 million from the Company to purchase 699,659 shares of common stock in the subscription offering and in the open market. This loan was paid in full at December 31, 2014. The 699,659 ESOP shares purchased in the initial reorganization in 2005 were exchanged for shares in the second-step conversion using an exchange ratio of 1.5167.

As part of the second-step conversion and stock offering completed in 2011, the ESOP borrowed an additional $7.1 million from the Company to purchase 684,395 shares of common stock during the initial public offering and in the open market. The outstanding loan balance of $6.5 million at June 30, 2015 will be repaid principally from the Bank’s discretionary contributions to the ESOP over a remaining period of 26 years.

The Company accounts for its ESOP in accordance with FASB ASC 718-40, Compensation – Stock Compensation. Under this guidance, unearned ESOP shares are not considered outstanding and are shown as a reduction of stockholders’ equity as unearned compensation. The Company will recognize compensation cost equal to the fair value of the ESOP shares during the periods in which they are committed to be allocated. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, this difference will be credited or debited to equity. As the loan is internally leveraged, the loan receivable from the ESOP to the Company is not reported as an asset nor is the debt of the ESOP shown as a liability in the Company’s financial statements. Dividends on unallocated shares are used to pay the ESOP debt.

At June 30, 2015, the remaining loan had an outstanding balance of $6.5 million and the interest rate is the prime rate plus one percent. The unallocated ESOP shares are pledged as collateral on the loans. As the loans are repaid to the Company, shares will be released from collateral and will be allocated to the accounts of the participants. For the three months ended June 30, 2015 and 2014, ESOP compensation expense was $74,000 and $433,000 respectively. The ESOP compensation expense for the six months ended June 30, 2015 and 2014 was $147,000 and $873,000, respectively.

The ESOP shares as of June 30, 2015 were as follows:

Allocated shares	1,152,426
Shares allocated for release	11,407
Unreleased shares	581,735
Total ESOP shares	1,745,568
Market value of unreleased shares at June 30, 2015 (in thousands)	$	7,978

The Company merged its ESOP with its Defined Contribution, or 401(k) Plan, effective January 1, 2014. In lieu of employer cash contributions to the 401(k) Plan, shares released from the pay down on the ESOP loan will be allocated to all participants in the 401(k) Plan.

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Regulatory Matters - Regulatory Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	May. 21, 2015	May. 20, 2015	Dec. 31, 2014
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common stock, shares authorized	120,000,000	120,000,000	60,000,000	60,000,000
United Bank [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital to risk weighted assets, Actual, Amount	$ 557,550			$ 513,960
Common Equity Tier 1 capital to risk weighted assets, Actual, Amount	527,359
Tier 1 capital to risk weighted assets, Actual, Amount	527,359			487,713
Tier 1 capital to total average assets, Actual, Amount	$ 527,359			$ 487,713
Total capital to risk weighted assets, Actual, Ratio	12.60%			12.90%
Common Equity Tier 1 capital to risk weighted assets, Actual, Ratio	11.90%
Tier 1 capital to risk weighted assets, Actual, Ratio	11.90%			12.30%
Tier 1 capital to total average assets, Actual, Ratio	9.70%			9.30%
Total capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Amount	$ 354,563			$ 317,750
Common Equity Tier 1 capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Amount	199,421
Tier 1 capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Amount	265,895			158,864
Tier 1 capital to total average assets, Minimum For Capital Adequacy Purposes, Amount	$ 216,797			$ 210,221
Total capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Ratio	8.00%			8.00%
CET1 capital to risk weighted assets, Minimum For Capital Adequacy Purposes	4.50%
Tier 1 capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Ratio	6.00%			4.00%
Tier 1 capital to total average assets, Minimum For Capital Adequacy Purposes, Ratio	4.00%			4.00%
Total capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Amount	$ 443,203			$ 397,187
Common Equity Tier 1 capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Amount	288,053
Tier 1 capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Amount	354,527			238,296
Tier 1 capital to total average assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Amount	$ 270,996			$ 262,776
Total capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Ratio	10.00%			10.00%
CET1 capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions	6.50%
Tier 1 capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Ratio	8.00%			6.00%
Tier 1 capital to total average assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Ratio	5.00%			5.00%
United Financial Bancorp, Inc. [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital to risk weighted assets, Actual, Amount	$ 608,638			$ 579,109
Common Equity Tier 1 capital to risk weighted assets, Actual, Amount	503,447
Tier 1 capital to risk weighted assets, Actual, Amount	503,447			477,862
Tier 1 capital to total average assets, Actual, Amount	$ 503,447			$ 477,862
Total capital to risk weighted assets, Actual, Ratio	13.70%			14.60%
Common Equity Tier 1 capital to risk weighted assets, Actual, Ratio	11.30%
Tier 1 capital to risk weighted assets, Actual, Ratio	11.30%			12.00%
Tier 1 capital to total average assets, Actual, Ratio	9.30%			9.10%
Total capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Amount	$ 335,150			$ 317,973
Common Equity Tier 1 capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Amount	199,781
Tier 1 capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Amount	266,374			159,022
Tier 1 capital to total average assets, Minimum For Capital Adequacy Purposes, Amount	$ 217,003			$ 210,049
Total capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Ratio	8.00%			8.00%
CET1 capital to risk weighted assets, Minimum For Capital Adequacy Purposes	4.50%
Tier 1 capital to risk weighted assets, Minimum For Capital Adequacy Purposes, Ratio	6.00%			4.00%
Tier 1 capital to total average assets, Minimum For Capital Adequacy Purposes, Ratio	4.00%			4.00%
Total capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Amount	$ 443,937
Common Equity Tier 1 capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Amount	288,572
Tier 1 capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Amount	355,165
Tier 1 capital to total average assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Amount	$ 271,254
Total capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Ratio	10.00%
CET1 capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions	6.50%
Tier 1 capital to risk weighted assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Ratio	8.00%
Tier 1 capital to total average assets, Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions, Ratio	5.00%

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Fair Value Measurement - Summary of Gains (Losses) on Assets Recorded at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 364	$ (367)	$ (87)	$ (647)
Other real estate owned	213	139	168	171
Total	$ 577	$ (228)	$ 81	$ (476)

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Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest and dividend income:
Loans	$ 41,253	$ 35,237	$ 81,780	$ 52,081
Securities - taxable interest	4,771	3,981	10,040	5,884
Securities - non-taxable interest	2,181	1,053	4,273	1,824
Securities - dividends	472	468	846	641
Interest-bearing deposits	34	28	67	39
Total interest and dividend income	48,711	40,767	97,006	60,469
Interest expense:
Deposits	5,584	3,146	10,324	5,304
Borrowed funds	2,224	742	4,436	1,378
Total interest expense	7,808	3,888	14,760	6,682
Net interest income	40,903	36,879	82,246	53,787
Provision for loan losses	4,462	2,080	5,973	2,530
Net interest income after provision for loan losses	36,441	34,799	76,273	51,257
Non-interest income:
Service charges and fees	5,643	3,636	9,474	5,522
Gain on sales of securities, net	360	589	698	857
Income from mortgage banking activities	2,990	1,236	5,361	1,791
Bank-owned life insurance income	830	750	1,664	1,272
Net loss on limited partnership investments	(916)	0	(1,346)	0
Other, net	464	108	355	86
Total non-interest income	9,371	6,319	16,206	9,528
Non-interest expense:
Salaries and employee benefits	16,595	14,541	33,167	24,783
Service bureau fees	1,466	1,768	3,286	2,859
Occupancy and equipment	3,799	2,610	8,257	4,308
Professional fees	782	856	1,699	1,284
Marketing and promotions	620	280	1,256	509
FDIC insurance assessments	823	632	1,901	950
Other real estate owned	62	125	177	433
Core deposit intangible amortization	449	321	930	321
Merger and acquisition expense	0	20,945	0	22,774
Other	5,761	4,099	10,341	6,213
Total non-interest expense	30,357	46,177	61,014	64,434
Income (loss) before income taxes	15,455	(5,059)	31,465	(3,649)
Provision for income taxes	2,123	512	5,108	975
Net income (loss)	$ 13,332	$ (5,571)	$ 26,357	$ (4,624)
Net income (loss) per share:
Basic (in usd per share)	$ 0.27	$ (0.13)	$ 0.54	$ (0.14)
Diluted (in usd per share)	$ 0.27	$ (0.13)	$ 0.53	$ (0.14)
Weighted-average shares outstanding:
Basic (in shares)	48,837,512	43,178,460	48,777,096	34,191,095
Diluted (in shares)	49,309,189	43,178,460	49,292,910	34,191,095

XML

Securities

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Securities

Note 3. Securities

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities at June 30, 2015 and December 31, 2014 are as follows:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2015
Available for sale:
Debt securities:
U.S. Government and government-sponsored enterprise obligations	$	10,630	$	79	$	(245	)	$	10,464
Government-sponsored residential mortgage-backed securities	126,865		700		(1,440		)	126,125
Government-sponsored residential collateralized debt obligations	280,162		1,737		(1,010		)	280,889
Government-sponsored commercial mortgage-backed securities	54,111		626		(265		)	54,472
Government-sponsored commercial collateralized debt obligations	133,795		832		(187		)	134,440
Asset-backed securities	162,957		871		(646		)	163,182
Corporate debt securities	52,472		52		(1,992		)	50,532
Obligations of states and political subdivisions	215,725		252		(4,372		)	211,605
Total debt securities	1,036,717		5,149		(10,157		)	1,031,709
Marketable equity securities, by sector:
Banks	26,846		375		(261		)	26,960
Industrial	109		57		—			166
Mutual funds	2,840		77		(4		)	2,913
Oil and gas	131		48		—			179
Total marketable equity securities	29,926		557		(265		)	30,218
Total available for sale securities	$	1,066,643	$	5,706	$	(10,422	)	$	1,061,927
Held to maturity:
Debt securities:
Obligations of states and political subdivisions	$	12,379	$	686	$	(7	)	$	13,058
Government-sponsored residential mortgage-backed securities	2,613		307		—			2,920
Total held to maturity securities	$	14,992	$	993	$	(7	)	$	15,978

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2014
Available for sale:
Debt securities:
U.S. Government and government-sponsored enterprise obligations	$	6,965	$	94	$	(237	)	$	6,822
Government-sponsored residential mortgage-backed securities	165,199		2,379		(159		)	167,419
Government-sponsored residential collateralized debt obligations	237,128		1,365		(360		)	238,133
Government-sponsored commercial mortgage-backed securities	67,470		1,081		(253		)	68,298
Government-sponsored commercial collateralized debt obligations	129,547		737		(598		)	129,686
Asset-backed securities	181,198		272		(2,715		)	178,755
Corporate debt securities	43,907		35		(1,697		)	42,245
Obligations of states and political subdivisions	194,857		1,572		(657		)	195,772
Total debt securities	1,026,271		7,535		(6,676		)	1,027,130
Marketable equity securities, by sector:
Banks	22,645		277		(340		)	22,582
Industrial	109		76		—			185
Mutual funds	2,824		89		(3		)	2,910
Oil and gas	131		73		—			204
Total marketable equity securities	25,709		515		(343		)	25,881
Total available for sale securities	$	1,051,980	$	8,050	$	(7,019	)	$	1,053,011
Held to maturity:
Debt securities:
Obligations of states and political subdivisions	$	12,397	$	1,006	$	—		$	13,403
Government-sponsored residential mortgage-backed securities	2,971		339		—			3,310
Total held to maturity securities	$	15,368	$	1,345	$	—		$	16,713

At June 30, 2015, the net unrealized loss on securities available for sale of $4.7 million, net of an income tax benefit of $1.7 million, or $3.0 million, was included in accumulated other comprehensive loss. The amortized cost and fair value of debt securities at June 30, 2015 by contractual maturities are presented below. Actual maturities may differ from contractual maturities because some securities may be called or repaid without any penalties. Also, because mortgage-backed securities require periodic principal paydowns, they are not included in the maturity categories in the following maturity summary.

	Available for Sale				Held to Maturity
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity:
Within 1 year	$	225	$	225	$	—	$	—
After 1 year through 5 years	4,799		4,699		—		—
After 5 years through 10 years	51,975		51,293		1,199		1,208
After 10 years	221,828		216,384		11,180		11,850
	278,827		272,601		12,379		13,058
Government-sponsored residential mortgage-backed securities	126,865		126,125		2,613		2,920
Government-sponsored residential collateralized debt obligations	280,162		280,889		—		—
Government-sponsored commercial mortgage-backed securities	54,111		54,472		—		—
Government-sponsored commercial collateralized debt obligations	133,795		134,440		—		—
Asset-backed securities	162,957		163,182		—		—
Total debt securities	$	1,036,717	$	1,031,709	$	14,992	$	15,978

At June 30, 2015, the Company had 94 encumbered securities with a fair value of $355.6 million pledged as derivative collateral, collateral for reverse repurchase borrowings and collateral for Federal Home Loan Bank of Boston (“FHLBB”) borrowing capacity. At December 31, 2014, the Company had 219 encumbered securities with a fair value of $336.3 million pledged as derivative collateral, collateral for reverse repurchase borrowings, and collateral for FHLBB borrowing capacity.

For the three months ended June 30, 2015 and 2014, gross gains of $604,000 and $1.0 million, respectively, were realized on the sales of available for sale securities. There were gross losses of $244,000 and $446,000 realized on the sale of available for sale securities for the three months ended June 30, 2015 and 2014. For the six months ended June 30, 2015 and 2014, gross gains of $2.3 million and $1.3 million, respectively, were realized on the sales of available for sale securities. There were gross losses of $1.6 million and $446,000 realized on the sale of available for sale securities for the six months ended June 30, 2015 and 2014, respectively.

As of June 30, 2015, the Company did not have any exposure to private-label mortgage-backed securities. The Company also did not own any single security with an aggregate book value in excess of 10% of the Company’s stockholders’ equity.

As of June 30, 2015, the fair value of the obligations of states and political subdivisions portfolio was $224.7 million, with no significant geographic/issuer exposure concentrations. Of the total revenue and general obligations of $224.7 million, $95.8 million were representative of general obligation bonds for which $69.8 million are general obligations of political subdivisions of the respective state, rather than general obligations of the state itself. 

The following table summarizes gross unrealized losses and fair value, aggregated by category and length of time the securities have been in a continuous unrealized loss position, as of June 30, 2015 and December 31, 2014:

	Less Than 12 Months					12 Months or More					Total
(In thousands)	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
June 30, 2015
Available for sale:
Debt Securities:
U.S. Government and government-sponsored enterprise obligations	$	—	$	—		$	4,749	$	(245	)	$	4,749	$	(245	)
Government-sponsored residential mortgage-backed securities	66,416		(1,074		)	18,539		(366		)	84,955		(1,440		)
Government-sponsored residential collateralized debt obligations	98,728		(946		)	3,851		(64		)	102,579		(1,010		)
Government-sponsored commercial mortgage-backed securities	8,897		(62		)	10,408		(203		)	19,305		(265		)
Government-sponsored commercial collateralized debt obligations	32,375		(187		)	—		—			32,375		(187		)
Asset-backed securities	38,548		(220		)	27,717		(426		)	66,265		(646		)
Corporate debt securities	46,889		(820		)	1,585		(1,172		)	48,474		(1,992		)
Obligations of states and political subdivisions	171,491		(3,978		)	13,302		(394		)	184,793		(4,372		)
Total debt securities	463,344		(7,287		)	80,151		(2,870		)	543,495		(10,157		)
Marketable equity securities	10,933		(261		)	184		(4		)	11,117		(265		)
Total available for sale securities	$	474,277	$	(7,548	)	$	80,335	$	(2,874	)	$	554,612	$	(10,422	)
Held to Maturity:
Debt Securities:
Obligations of states and political subdivisions	1,110		(7		)	—		—			1,110		(7		)
Total held to maturity securities	$	1,110	$	(7	)	$	—	$	—		$	1,110	$	(7	)
December 31, 2014
Available for sale:
Debt Securities:
U.S. Government and government-sponsored enterprise obligations	$	—	$	—		$	4,757	$	(237	)	$	4,757	$	(237	)
Government-sponsored residential mortgage-backed securities	1,492		(11		)	19,785		(148		)	21,277		(159		)
Government-sponsored residential collateralized debt obligations	35,769		(124		)	17,443		(236		)	53,212		(360		)
Government-sponsored commercial mortgage-backed securities	14,118		(15		)	16,337		(238		)	30,455		(253		)
Government-sponsored commercial collateralized debt obligations	62,477		(551		)	4,991		(47		)	67,468		(598		)
Asset-backed securities	128,808		(2,080		)	20,146		(635		)	148,954		(2,715		)
Corporate debt securities	30,634		(501		)	5,054		(1,196		)	35,688		(1,697		)
Obligations of states and political subdivisions	55,029		(419		)	18,568		(238		)	73,597		(657		)
Total debt securities	328,327		(3,701		)	107,081		(2,975		)	435,408		(6,676		)
Marketable equity securities	12,716		(340		)	140		(3		)	12,856		(343		)
Total available for sale securities	$	341,043	$	(4,041	)	$	107,221	$	(2,978	)	$	448,264	$	(7,019	)

Of the securities summarized above as of June 30, 2015, 152 issues had unrealized losses equaling 1.6% of the amortized cost basis for less than twelve months and 92 issues had an unrealized loss of 3.5% of the amortized cost basis for twelve months or more. Unrealized losses on debt securities held to maturity were insignificant at June 30, 2015. As of December 31, 2014, 155 issues had unrealized losses equaling 1.2% of the cost basis for less than twelve months and 78 issues had unrealized losses equaling 2.7% of the amortized cost basis for twelve months or more.

Management believes that no individual unrealized loss as of June 30, 2015 represents an other-than-temporary impairment, based on its detailed quarterly review of the securities portfolio. Among other things, the other-than-temporary impairment review of the investment securities portfolio focuses on the combined factors of percentage and length of time by which an issue is below book value as well as consideration of issuer specific information (present value of cash flows expected to be collected, issuer rating changes and trends, credit worthiness and review of underlying collateral), broad market details and the Company’s intent to sell the security or if it is more likely than not that the Company will be required to sell the debt security before recovering its cost. The Company also considers whether the depreciation is due to interest rates or credit risk.

The following paragraphs outline the Company’s position related to unrealized losses in its investment securities portfolio at June 30, 2015.

U.S. Government and government-sponsored enterprises. The unrealized losses on the Company’s U.S. Government and government-sponsored securities were caused by spread widening to the government curve. The Company does not expect these securities to settle at a price less than the par value of the securities.

U.S. Government and government-sponsored collateralized mortgage obligations and commercial mortgage- backed securities. The unrealized losses on the Company’s U.S. Government and government-sponsored collateralized debt obligations and commercial mortgage backed securities were caused by the pickup of prepayment speeds given the overall drop in the government curve over the period, which encouraged further refinancing. The Company monitors this risk, and therefore, strives to minimize premiums within this security class. The Company does not expect these securities to settle at a price less than the par value of the securities.

Asset-backed securities. The unrealized losses on the Company’s asset-backed securities were largely driven by increases in the spreads of the respective sectors’ asset classes over comparable securities. The majority of these securities have resetting coupons that adjust on a quarterly basis and the market spreads on similar securities have increased. Based on the credit profiles and asset qualities of the individual securities, management does not believe that the securities have suffered from any credit related losses. The Company does not expect these securities to settle at a price less than the par value of the securities. 

Corporate debt securities. The unrealized losses on corporate debt securities is primarily related to one pooled trust preferred security, Preferred Term Security XXVIII, Ltd (“PRETSL XXVIII”). The unrealized loss on this security is caused by the low interest rate environment, as the security reprices quarterly to the three month LIBOR and market spreads on similar newly issued securities have increased. No loss of principal or break in yield is projected. Based on the existing credit profile, management does not believe that this security has suffered from any credit related losses. The unrealized loss on the remainder of the corporate credit portfolio has been driven primarily by a rising yield curve and overall wider credit spreads.

Obligations of states and political subdivisions. The unrealized loss on obligations of states and political subdivisions relates to several securities, with no geographic concentration. The unrealized loss was largely due to a shift in the credit spreads of the long end of the municipal bond spread curve that resulted in a negative impact to the respective bonds’ pricing, relative to the time of purchase.

The Company will continue to review its entire portfolio for other-than-temporarily impaired securities with additional attention being given to high risk securities such as the one pooled trust preferred security that the Company owns.

XML

Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2015

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Pronouncements

Note 2. Recent Accounting Pronouncements

Interest-Imputation of Interest.

In April 2015, the Financial Accounting Standards Board issued Accounting Standard Update “ASU” No. 2015-03, (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, as part of its simplification initiative. The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. For public business entities, the guidance in the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Entities would apply the new guidance retrospectively to all prior periods (i.e., the balance sheet for each period is adjusted). This ASU is not expected to have a material impact on the Company’s Consolidated Financial Statements.

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Fair Value Measurements

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 14. Fair Value Measurements

Fair value estimates are made as of a specific point in time based on the characteristics of the assets and liabilities and relevant market information. In accordance with FASB ASC 820, the fair value estimates are measured within the fair value hierarchy. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

Level 1: Quoted prices are available in active markets for identical assets and liabilities as of the reporting date. The quoted price is not adjusted because of the size of the position relative to trading volume.

Level 2: Pricing inputs are observable for assets and liabilities, either directly or indirectly, but are not the same as those used in Level 1. Fair value is determined through the use of models or other valuation methodologies.

Level 3: Pricing inputs are unobservable for assets and liabilities and include situations where there is little, if any, market activity and the determination of fair value requires significant judgment or estimation.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such instances, the determination of which category within the fair value hierarchy is appropriate for any given asset and liability is based on the lowest level of input that is significant to the fair value of the asset and liability.

When available, quoted market prices are used. In other cases, fair values are based on estimates using present value or other valuation techniques. These techniques involve uncertainties and are significantly affected by the assumptions used and judgments made regarding risk characteristics of various financial instruments, discount rates, estimates of future cash flows, future expected loss experience and other factors. Changes in assumptions could significantly affect these estimates and could be material. Derived fair value estimates may not be substantiated by comparison to independent markets and, in certain cases, could not be realized in an immediate sale of the instrument.

Fair value estimates for financial instrument fair value disclosures are based on existing financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not financial instruments. Accordingly, the aggregate fair value amounts presented do not purport to represent the underlying market value of the Company.

Loans Held for Sale

The Company has elected the fair value option for its portfolio of residential real estate mortgage loans held for sale to reduce certain timing differences and better match changes in fair value of the loans with changes in the fair value of the derivative loan sale contracts used to economically hedge them.

The aggregate principal amount of the residential real estate mortgage loans held for sale was $27.1 million and $8.1 million at June 30, 2015 and December 31, 2014, respectively. The aggregate fair value of these loans as of the same dates was $28.0 million and $8.2 million, respectively.

There were no residential real estate mortgage loans held for sale 90 days or more past due at June 30, 2015 and December 31, 2014.

The following table presents the gains in fair value related to mortgage loans held for sale for the periods indicated. Changes in the fair value of mortgage loans held for sale are reported as a component of income from mortgage banking activity in the Consolidated Statements of Operations.

	Three Months Ended   June 30,				Six Months Ended   June 30,
(In thousands)	2015		2014		2015		2014
Mortgage loans held for sale	$	551	$	517	$	681	$	568

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables detail the assets and liabilities carried at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value. There were no transfers in and out of Level 1, Level 2 and Level 3 measurements during the six months ended June 30, 2015 and 2014.

	Total Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(In thousands)			(Level 1)		(Level 2)		(Level 3)
June 30, 2015
Available for Sale Securities:
U.S. Government and government-sponsored enterprise obligations	$	10,464	$	—	$	10,464	$	—
Government-sponsored residential mortgage-backed securities	126,125		—		126,125		—
Government-sponsored residential collateralized debt obligations	280,889		—		280,889		—
Government-sponsored commercial mortgage-backed securities	54,472		—		54,472		—
Government-sponsored commercial collateralized debt obligations	134,440		—		134,440		—
Asset-backed securities	163,182		—		17,811		145,371
Corporate debt securities	50,532		—		48,947		1,585
Obligations of states and political subdivisions	211,605		—		211,605		—
Marketable equity securities	30,218		3,258		26,960		—
Total available for sale securities	$	1,061,927	$	3,258	$	911,713	$	146,956
Mortgage loan derivative assets	$	317	$	—	$	317	$	—
Mortgage loan derivative liabilities	18		—		18		—
Loans held for sale	28,017		—		28,017		—
Mortgage servicing rights	5,994		—		—		5,994
Interest rate swap assets	5,867		—		5,867		—
Interest rate swap liabilities	7,300		—		7,300		—
December 31, 2014
Available for Sale Securities:
U.S. Government and government-sponsored enterprise obligations	$	6,822	$	—	$	6,822	$	—
Government-sponsored residential mortgage-backed securities	167,419		—		167,419		—
Government-sponsored residential collateralized-debt obligations	238,133		—		238,133		—
Government-sponsored commercial mortgage-backed securities	68,298		—		68,298		—
Government-sponsored commercial collateralized-debt obligations	129,686		—		129,686		—
Asset-backed securities	178,755		—		43,166		135,589
Corporate debt securities	42,245		—		40,627		1,618
Obligations of states and political subdivisions	195,772		—		195,772		—
Marketable equity securities	25,881		3,299		22,582		—
Total available for sale securities	$	1,053,011	$	3,299	$	912,505	$	137,207
Mortgage loan derivative assets	$	220	$	—	$	220	$	—
Mortgage loan derivative liabilities	21		—		21		—
Loans held for sale	8,220		—		8,220		—
Mortgage servicing rights	4,729		—		—		4,729
Interest rate swap assets	3,853		—		3,853		—
Interest rate swap liabilities	4,931		—		4,931		—

The following table presents additional information about assets measured at fair value on a recurring basis for which the Company utilized Level 3 inputs to determine fair value:

	Three Months Ended   June 30,						Six Months Ended   June 30,
(In thousands)	2015			2014			2015			2014
Balance of available for sale securities, at beginning of period	$	147,581		$	72,438		$	137,207		$	72,963
Purchases	—			63,173			9,799			63,173
Principal payments	(252		)	(1,052		)	(435		)	(2,114		)
Total unrealized gains (losses) included in other comprehensive income/loss	(373		)	672			385			1,209
Balance at end of period	$	146,956		$	135,231		$	146,956		$	135,231
Balance of mortgage servicing rights, at beginning of period	$	4,921		$	4,084		$	4,729		$	4,103
Addition of Legacy United mortgage servicing rights	—			764			—			764
Issuances	688			184			1,265			318
Change in fair value recognized in net income	385			(478		)	—			(631		)
Balance at end of period	$	5,994		$	4,554		$	5,994		$	4,554

The following valuation methodologies are used for certain assets that are recorded at fair value on a recurring basis.

Available for Sale Securities: Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using an independent pricing service. Level 1 securities are those traded on active markets for identical securities including U.S. treasury securities, equity securities and mutual funds. Level 2 securities include U.S. Government agency obligations, U.S. Government-sponsored enterprises, mortgage-backed securities, obligations of states and political subdivisions, corporate and other debt securities. Level 3 securities include private placement securities and thinly traded equity securities. All fair value measurements are obtained from a third party pricing service and are not adjusted by management.

Matrix pricing is used for pricing most obligations of states and political subdivisions, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for specific securities but rather by relying on securities relationships to other benchmark quoted securities. The grouping of securities is completed according to insurer, credit support, state of issuance and rating to incorporate additional spreads and municipal bond yield curves.

The valuation of the Company’s asset-backed securities is obtained from a third party pricing provider and is determined utilizing an approach that combines advanced analytics with structural and fundamental cash flow analysis based upon observed market based yields. The third party provider’s model analyzes each instrument’s underlying collateral given observable collateral characteristics and credit statistics to extrapolate future performance and project cash flows, by incorporating expectations of default probabilities, recovery rates, prepayment speeds, loss severities and a derived discount rate. The Company has determined that due to the liquidity and significance of unobservable inputs, that asset-backed securities are classified in Level 3 of the valuation hierarchy.

The Company holds one pooled trust preferred security. The security’s fair value is based on unobservable issuer-provided financial information and discounted cash flow models derived from the underlying structured pool and therefore is classified as Level 3.

Loans Held for Sale: The fair value of residential mortgage loans held for sale is estimated using quoted market prices for loans with similar characteristics provided by government-sponsored entities. Any changes in the valuation of mortgage loans held for sale is based upon the change in market interest rates between closing the loan and the measurement date and an immaterial portion attributable to changes in instrument-specific credit risk The Company has determined that loans held for sale are classified in Level 2 of the valuation hierarchy.

Mortgage Servicing Rights: A mortgage servicing right asset represents the amount by which the present value of the estimated future net cash flows to be received from servicing loans are expected to more than adequately compensate the Company for performing the servicing. The fair value of servicing rights is provided by a third party and is estimated using a present value cash flow model. The most important assumptions used in the valuation model are the anticipated rate of the loan prepayments and discount rates. Adjustments are recorded monthly. (See Note 4, “Loans Receivable and Allowance for Loan Losses” in the Notes to Consolidated Financial Statements contained elsewhere in this report) as the cash flows derived from the valuation model change the fair value of the asset. Although some assumptions in determining fair value are based on standards used by market participants, some are based on unobservable inputs and therefore are classified in Level 3 of the valuation hierarchy.

Derivatives: Derivative instruments related to commitments for loans to be sold are carried at fair value. Fair value is determined through quotes obtained from actively traded mortgage markets. Any change in fair value for rate lock commitments to the borrower is based upon the change in market interest rates between making the rate lock commitment and the measurement date and, for forward loan sale commitments to the investor, is based upon the change in market interest rates from entering into the forward loan sales contract and the measurement date. Both the rate lock commitments to the borrowers and the forward loan sale commitments to investors are derivatives pursuant to the requirements of FASB ASC 815-10; however, the Company has not designated them as hedging instruments. Accordingly, they are marked to fair value through earnings.

The Company’s intention is to sell the majority of its fixed rate mortgage loans with original terms of 30 years on a servicing retained basis as well as certain 10, 15 and 20 year loans. The servicing value has been included in the pricing of the rate lock commitments. The Company estimates a fallout rate of approximately 14.5% based upon historical averages in determining the fair value of rate lock commitments. Although the use of historical averages is based upon unobservable data, the Company believes that this input is insignificant to the valuation and, therefore, has concluded that the fair value measurements meet the Level 2 criteria. The Company continually reassesses the significance of the fallout rate on the fair value measurement and updates the fallout rate accordingly.

Hedging derivatives include interest rate swaps as part of management’s strategy to manage interest rate risk. The valuation of the Company’s interest rate swaps is obtained from a third-party pricing service and is determined using a discounted cash flow analysis on the expected cash flows of each derivative. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. The Company has determined that the majority of the inputs used to value its interest rate derivatives fall within Level 2 of the fair value hierarchy.

The following table presents additional quantitative information about assets measured at fair value on a recurring basis for which the Company utilized Level 3 inputs to determine fair value at June 30, 2015:

(Dollars in thousands)
	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Asset-backed securities	$	145,371	Discounted Cash Flow	Discount Rates	1.3% - 6.3% (4.5%)
				Cumulative Default %	6.4% - 12.1% (9.1%)
				Loss Given Default	2.0% - 8.4% (2.9%)
Corporate debt - pooled trust	$	1,585	Discounted Cash Flow	Discount Rate	7.3% (7.3%)
preferred security				Cumulative Default %	2.8% - 78.0% (13.5%)
				Loss Given Default	85% - 100% (89.8%)
Mortgage servicing rights	$	5,994	Discounted Cash Flow	Discount Rate	8.0% - 17.0% (9.5%)
				Cost to Service	$40 - $100 ($51.8)
				Float Earnings Rate	0.25% (0.25%)

Asset-backed securities: Given the level of market activity for the asset backed securities in the portfolio, the discount rates utilized in the fair value measurement were derived by analyzing current market yields for comparable securities and research reports issued by brokers and dealers in the financial services industry. Adjustments were then made for credit and structural differences between these types of securities. There is an inverse correlation between the discount rate and the fair value measurement.  When the discount rate increases, the fair value decreases.

Other significant unobservable inputs to the fair value measurement of the asset backed securities in the portfolio included prospective defaults and recoveries.  The cumulative default percentage represents the lifetime defaults assumed. The loss given default percentage represents the percentage of current and projected defaults assumed to be lost. There is an inverse correlation between the default percentages and the fair value measurement. When default percentages increase, the fair value decreases. 

Corporate debt: Given the level of market activity for the trust preferred securities in the form of collateralized debt obligations, the discount rate utilized in the fair value measurement were derived by analyzing current market yields for trust preferred securities of individual name issuers in the financial services industry. Adjustments were then made for credit and structural differences between these types of securities. There is an inverse correlation between the discount rate and the fair value measurement. When the discount rate increases, the fair value decreases.

Other significant unobservable inputs to the fair value measurement of the collateralized debt obligations included prospective defaults and recoveries. The cumulative default percentage represents the lifetime defaults assumed, excluding currently defaulted collateral and including all performing and currently deferring collateral.  As a result, the cumulative default percentage also reflects assumptions of the possibility of currently deferring collateral curing and becoming current.  The loss given default percentage represents the percentage of current and projected defaults assumed to be lost. There is an inverse correlation between the cumulative default and loss given default percentages and the fair value measurement. When default percentages increase, the fair value decreases. 

Mortgage servicing rights: Given the low level of market activity in the MSR market and the general difficulty in price discovery, even when activity is at historic norms, the discount rate utilized in the fair value measurement was derived by analyzing recent and historical pricing for MSRs. Adjustments were then made for various loan and investor types underlying these MSRs. There is an inverse correlation between the discount rate and the fair value measurement. When the discount rate increases, the fair value decreases.

Other significant unobservable inputs to the fair value measurement of MSR’s include cost to service, an input that is not as simple as taking total costs and dividing by a number of loans. It is a figure informed by marginal cost and pricing for MSRs by competing firms, taking other assumptions into consideration. It is different for different loan types. There is an inverse correlation between the cost to service and the fair value measurement. When the cost assumption increase, the fair value decreases.

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The Company may also be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with generally accepted accounting principles; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The following tables detail the assets carried at fair value on a non-recurring basis at June 30, 2015 and December 31, 2014 and indicate the fair value hierarchy of the valuation technique utilized by the Company to determine fair value. There were no liabilities measured at fair value on a non-recurring basis at June 30, 2015 and December 31, 2014.

	Total Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(In thousands)			(Level 1)		(Level 2)		(Level 3)
June 30, 2015
Impaired loans	$	2,155	$	—	$	—	$	2,155
Other real estate owned	227		—		—		227
Total	$	2,382	$	—	$	—	$	2,382
December 31, 2014
Impaired loans	$	2,863	$	—	$	—	$	2,863
Other real estate owned	2,239		—		—		2,239
Total	$	5,102	$	—	$	—	$	5,102

The following is a description of the valuation methodologies used for certain assets that are recorded at fair value on a non-recurring basis.

Other Real Estate Owned: The Company classifies property acquired through foreclosure or acceptance of deed-in-lieu of foreclosure, as other real estate owned (“OREO”) in its financial statements. Upon foreclosure, the property securing the loan is recorded at fair value as determined by real estate appraisals less the estimated selling expense. Appraisals are based upon observable market data such as comparable sales within the real estate market. Assumptions are also made based on management’s judgment of the appraisals and current real estate market conditions and therefore these assets are classified as non-recurring Level 3 assets in the fair value hierarchy.

Impaired Loans: Accounting standards require that a creditor recognize the impairment of a loan if the present value of expected future cash flows discounted at the loan’s effective interest rate (or, alternatively, the observable market price of the loan or the fair value of the collateral) is less than the recorded investment in the impaired loan. Non-recurring fair value adjustments to collateral dependent loans are recorded, when necessary, to reflect partial write-downs and the specific reserve allocations based upon observable market price or current appraised value of the collateral less selling costs and discounts based on management’s judgment of current conditions. Based on the significance of management’s judgment, the Company records collateral dependent impaired loans as non-recurring Level 3 fair value measurements.

Gains (losses) on assets recorded at fair value on a non-recurring basis are as follows:

	Three Months Ended   June 30,					Six Months Ended   June 30,
(In thousands)	2015		2014			2015			2014
Impaired loans	$	364	$	(367	)	$	(87	)	$	(647	)
Other real estate owned	213		139			168			171
Total	$	577	$	(228	)	$	81		$	(476	)

Disclosures about Fair Value of Financial Instruments:

The following methods and assumptions were used by management to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value.

Cash and Cash Equivalents: Carrying value is assumed to represent fair value for cash and due from banks and short-term investments, which have original maturities of 90 days or less.

Securities: Refer to the above discussion on securities.

Loans Held for Sale: Refer to the above discussion on loans held for sale.

Loans Receivable – net: The fair value of the net loan portfolio is determined by discounting the estimated future cash flows using the prevailing interest rates and appropriate credit and prepayment risk adjustments as of period-end at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The fair value of non-performing loans is estimated using the Bank’s prior credit experience.

Federal Home Loan Bank of Boston (“FHLBB”) stock: FHLBB stock is a non-marketable equity security which is assumed to have a fair value equal to its carrying value due to the fact that it can only be redeemed by the FHLB Boston at par value.

Accrued Interest Receivable: Carrying value is assumed to represent fair value.

Derivative Assets: Refer to the above discussion on derivatives.

Mortgage Servicing Rights: Refer to the above discussion on mortgage servicing rights.

Deposits and Mortgagors’ and Investors’ Escrow Accounts: The fair value of demand, non-interest- bearing checking, savings and certain money market deposits is determined as the amount payable on demand at the reporting date. The fair value of time deposits is estimated by discounting the estimated future cash flows using rates offered for deposits of similar remaining maturities as of period-end.

FHLBB Advances and Other Borrowings: The fair value of borrowed funds is estimated by discounting the future cash flows using market rates for similar borrowings.

Derivative Liabilities: Refer to the above discussion on derivatives.

As of June 30, 2015 and December 31, 2014, the carrying value and estimated fair values of the Company’s financial instruments are as described below:

	Carrying Value		Fair Value
(In thousands)			Level 1		Level 2		Level 3		Total
June 30, 2015
Financial assets:
Cash and cash equivalents	$	84,525	$	84,525	$	—	$	—	$	84,525
Available for sale securities	1,061,927		3,258		911,713		146,956		1,061,927
Held to maturity securities	14,992		—		15,978		—		15,978
Loans held for sale	28,017		—		28,017		—		28,017
Loans receivable-net	4,048,770		—		—		4,099,784		4,099,784
FHLBB stock	37,061		—		—		37,061		37,061
Accrued interest receivable	14,777		—		—		14,777		14,777
Derivative assets	6,184		—		6,184		—		6,184
Mortgage servicing rights	5,994		—		—		5,994		5,994
Financial liabilities:
Deposits	4,182,251		—		—		4,187,465		4,187,465
Mortgagors’ and investors’ escrow accounts	15,168		—		—		15,168		15,168
FHLBB advances and other borrowings	825,963		—		—		826,975		826,975
Derivative liabilities	7,318		—		7,318		—		7,318
December 31, 2014
Financial assets:
Cash and cash equivalents	$	86,952	$	86,952	$	—	$	—	$	86,952
Available for sale securities	1,053,011		3,299		912,505		137,207		1,053,011
Held to maturity securities	15,368		—		16,713		—		16,713
Loans held for sale	8,220		—		8,220		—		8,220
Loans receivable-net	3,877,063		—		—		3,919,432		3,919,432
FHLBB stock	31,950		—		—		31,950		31,950
Accrued interest receivable	14,212		—		—		14,212		14,212
Derivative assets	4,073		—		4,073		—		4,073
Mortgage servicing rights	4,729		—		—		4,729		4,729
Financial liabilities:
Deposits	4,035,311		—		—		3,899,658		3,899,658
Mortgagors’ and investors’ escrow accounts	13,004		—		—		13,004		13,004
FHLBB advances and other borrowings	777,314		—		—		773,786		773,786
Derivative liabilities	4,952		—		4,952		—		4,952

Certain financial instruments and all nonfinancial investments are exempt from disclosure requirements. Accordingly, the aggregate fair value of amounts presented above may not necessarily represent the underlying fair value of the Company.

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Pension and Other Post-Retirement Benefit Plans

6 Months Ended

Jun. 30, 2015

Compensation and Retirement Disclosure [Abstract]

Pension and Other Post-Retirement Benefit Plans

Note 10. Pension and Other Post-Retirement Benefit Plans

Legacy Rockville offered a noncontributory defined benefit pension plan through December 31, 2012 for eligible employees who met certain minimum service and age requirements hired before January 1, 2005. Pension plan benefits were based upon employee earnings during the period of credited service. The pension plan was frozen effective December 31, 2012. Employees hired on or after January 1, 2005 receive no benefits under the plan. All other employees will accrue no additional retirement benefits on or after January 1, 2013, and the amount of their qualified retirement income will not exceed the amount of benefits determined as of December 31, 2012.

As a result of the Merger, the Company participates in the Pentegra Defined Benefit Plan for Financial Institutions, a tax-qualified multi-employer defined benefit pension plan.

The Company also has supplemental retirement plans (the “Supplemental Plans”) that provide benefits for certain key officers. Benefits under the Supplemental Plans are based on a predetermined formula and are reduced by other benefits. The liability arising from these plans is being accrued over the participants’ remaining periods of service so that at the expected retirement dates, the present value of the annual payments will have been expensed.

The Company also provides an unfunded post-retirement medical, health and life insurance benefit plan for retirees and employees hired prior to March 31, 1993.

The following table presents the amount of net periodic pension costs for the three and six months ended June 30, 2015 and 2014:

							Supplemental				Other
							Executive				Post-Retirement
	Qualified Pension						Retirement Plans				Benefits
For the Three Months Ended:	June 30,						June 30,				June 30,
	2015			2014			2015		2014		2015		2014
(In thousands)
Service cost	$	15		$	19		$	6	$	12	$	6	$	5
Interest cost	290			286			11		18		20		21
Expected return on plan assets	(456		)	(468		)	—		—		—		—
Amortization:
Loss (gain)	185			—			1		1		5		(3		)
Prior service cost	—			—			2		11		—		—
Additional amount recognized due to settlement or curtailment	—			—			20		667		—		—
Net periodic benefit cost (benefit)	$	34		$	(163	)	$	40	$	709	$	31	$	23
							Supplemental				Other
							Executive				Post-Retirement
	Qualified Pension						Retirement Plans				Benefits
For the Six Months Ended:	June 30,						June 30,				June 30,
	2015			2014			2015		2014		2015		2014
(In thousands)
Service cost	$	30		$	38		$	12	$	19	$	11	$	10
Interest cost	581			572			21		32		40		42
Expected return on plan assets	(912		)	(936		)	—		—		—		—
Amortization:
Loss (gain)	369			—			2		1		9		(5		)
Prior service cost	—			—			3		16		—		—
Additional amount recognized due to settlement or curtailment	—			—			40		667		—		—
Net periodic benefit cost (benefit)	$	68		$	(326	)	$	78	$	735	$	60	$	47

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Fair Value Measurement - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Aggregate principal amount of residential real estate mortgage loans held for sale	$ 27,100,000		$ 8,100,000
Aggregate fair value of mortgage loans held for sale	28,000,000		8,200,000
Residential real estate mortgage loans held for sale 90 days or more past due	0		0
Transfers in and out of Level 1, Level 2 and Level 3 measurements	$ 0	$ 0
Fixed rate mortgage loans term	30 years
Maturity period, Term 1	10 years
Maturity period, Term 2	15 years
Maturity period, Term 3	20 years
Estimated fallout rate based upon historical average	14.50%
Liabilities measured at fair value on a non-recurring basis	$ 0		$ 0
Short-term investments, maturity period	90 days

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Goodwill and Core Deposit Intangibles

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Core Deposit Intangibles

Note 6. Goodwill and Core Deposit Intangibles

The changes in the carrying amount of goodwill and core deposit intangible assets are summarized as follows:

(In thousands)	Goodwill		Core Deposit Intangibles
Balance at December 31, 2013	$	1,070	$	—
Acquisition of Legacy United	114,170		10,585
Amortization expense	—		(1,283		)
Balance at December 31, 2014	115,240		9,302
Adjustments	25		—
Amortization expense	—		(930		)
Balance at June 30, 2015	$	115,265	$	8,372
Estimated amortization expense for the years ending December 31,
2015 (remaining six months)			$	866
2016			1,604
2017			1,411
2018			1,219
2019			1,026
2020 and thereafter			2,246
Total remaining			$	8,372

The goodwill associated with the acquisition of Legacy United is not tax deductible. In accordance with ASC 350, Intangibles – Goodwill and Other, goodwill will not be amortized, but will be subject to at least an annual impairment test. The amortizing intangible asset associated with the acquisition consists of the core deposit intangible. The core deposit intangible is being amortized using the sum of the years’ digits method over its estimated life of 10 years. Amortization expense of the core deposit intangible was $449,000 and $930,000 for the three and six months ended June 30, 2015.

The core deposit intangible is summarized in the following table:

(In thousands)	Original Recorded Amount		Accumulated Amortization			Balance at June 30, 2015
Core deposit intangible	$	10,585	$	(2,213	)	$	8,372

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Merger - Summary of Merger (Detail) - USD ($) $ in Thousands	Apr. 30, 2014	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill		$ 115,265	$ 115,240	$ 1,070
Legacy United [Member]
Business Acquisition [Line Items]
Assets	$ 2,442,525
Equity	304,505
Goodwill	114,195
Other Identifiable Intangibles	10,585
Shares Issued	26,706
Value of Legacy United Exercisable Options	4,909
Total Purchase Price	$ 356,394

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Loans Receivable and Allowance for Loan Losses

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Loans Receivable and Allowance for Loan Losses

Note 4. Loans Receivable and Allowance for Loan Losses

A summary of the Company’s loan portfolio is as follows:

(In thousands)	At June 30, 2015			At December 31, 2014
Real estate loans:
Residential	$	1,501,813		$	1,413,739
Commercial	1,763,751			1,678,936
Construction	166,768			185,843
Total real estate loans	3,432,332			3,278,518
Commercial business loans	634,529			613,596
Installment and collateral loans	5,206			5,752
Total loans	4,072,067			3,897,866
Net deferred loan costs and premiums	5,559			4,006
Allowance for loan losses	(28,856		)	(24,809		)
Loans - net	$	4,048,770		$	3,877,063

Acquired Loans

Gross loans acquired from the Legacy United merger on April 30, 2014 totaled $1.88 billion. Acquired performing loans totaled $1.86 billion with a fair value of $1.83 billion. Loans acquired and determined to be impaired totaled $18.5 million.

The impaired loans are accounted for in accordance with Accounting Standards Codification (“ASC”) Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310-30”). At June 30, 2015, the net recorded carrying amount of loans accounted for under ASC 310-30 was $7.9 million and the aggregate outstanding principal balance was $12.8 million.

Information about the acquired loan portfolio subject to Purchased Credit Impaired (“PCI”) accounting guidance (ASC 310-30) as of April 30, 2014 is as follows:

(In thousands)
	April 30, 2014
Contractually required principal and interest at acquisition	$	18,540
Contractual cash flows not expected to be collected (nonaccretable)	(6,415		)
Expected cash flows at acquisition (1)	12,125
Interest component of expected cash flows (accretable)	(2,235		)
Fair value of acquired PCI loans	$	9,890

(1) Prepayments were not factored into the expected cash flows

The following table summarizes the activity in the the accretable yield balance for PCI loans for the three and six months ended June 30, 2015:

(In thousands)	For the Three Months   Ended June 30,						For the Six Months   Ended June 30,
	2015			2014			2015			2014
Balance at beginning of period	$	(708	)	$	—		$	(1,587	)	$	—
Acquisition	—			(2,235		)	—			(2,235		)
Accretion	78			327			177			327
Reclassification to nonaccretable balance	60			—			840			—
Balance at end of period	$	(570	)	$	(1,908	)	$	(570	)	$	(1,908	)

A reclassification of $840,000 from the accretable balance to the nonaccretable balance occurred during the six months ended June 30, 2015 due to the impact on the accretable marks caused by reductions in expected cash flows for the ASC 310-30 loans.

Allowance for Loan Losses

Management has established a methodology to determine the adequacy of the allowance for loan losses that assesses the risks and losses inherent in the loan portfolio. The allowance for loan losses is established as embedded losses are estimated to have occurred through the provisions for losses charged against operations and is maintained at a level that management considers adequate to absorb losses in the loan portfolio. Management’s judgment in determining the adequacy of the allowance is inherently subjective and is based on past loan loss experience, known and inherent losses and size of the loan portfolios, an assessment of current economic and real estate market conditions, estimates of the current value of underlying collateral, review of regulatory authority examination reports and other relevant factors. An allowance is maintained for impaired loans to reflect the difference, if any, between the carrying value of the loan and the present value of the projected cash flows, observable fair value or collateral value. Loans are charged-off against the allowance for loan losses when management believes that the uncollectibility of principal is confirmed. Any subsequent recoveries are credited to the allowance for loan losses when received. In connection with the determination of the allowance for loan losses, management obtains independent appraisals for significant properties, when considered necessary.

The allowance for loan losses is maintained at a level estimated by management to provide for probable losses inherent within the loan portfolio. Probable losses are estimated based upon a quarterly review of the loan portfolio, which includes historic default and loss experience, specific problem loans, risk rating profile, economic conditions and other pertinent factors which, in management’s judgment, warrant current recognition in the loss estimation process.

The adequacy of the allowance for loan losses is subject to considerable assumptions and judgment used in its determination. Therefore, actual losses could differ materially from management’s estimate if actual conditions differ significantly from the assumptions utilized. These conditions include economic factors in the Company’s market and nationally, industry trends and concentrations, real estate values and trends, and the financial condition and performance of individual borrowers.

The Company’s general practice is to identify problem credits early and recognize full or partial charge-offs as promptly as practicable when it is determined that the collection of loan principal is unlikely. The Company recognizes full or partial charge-offs on collateral dependent impaired loans when the collateral is deemed to be insufficient to support the carrying value of the loan. The Company does not recognize a recovery when an updated appraisal indicates a subsequent increase in value.

At June 30, 2015, the Company had a loan loss allowance of $28.9 million, or 0.71%, of total loans as compared to a loan loss allowance of $24.8 million, or 0.64%, of total loans at December 31, 2014. Management believes that the allowance for loan losses is adequate and consistent with asset quality indicators and that it represents the best estimate of probable losses inherent in the loan portfolio.

There are three components for the allowance for loan loss calculation:

General component

The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the loan segments. Management uses a rolling average of historical losses based on a three-year loss history to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels and trends in delinquencies; level and trend of charge-offs and recoveries; trends in volume and types of loans; effects of changes in risk selection and underwriting standards, changes in risk selection and underwriting standards; experience and depth of lending weighted average risk rating; and national and local economic trends and conditions.

The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows:

Residential real estate – The Bank establishes maximum loan-to-value and debt-to-income ratios and minimum credit scores as an integral component of the underwriting criteria. Loans in these segments are collateralized by owner-occupied residential real estate and repayment is dependent on the income and credit quality of the individual borrower. Within the qualitative allowance factors, national and local economic trends including unemployment rates and potential declines in property value, are key elements reviewed as a component of establishing the appropriate allocation. Overall economic conditions, unemployment rates and housing price trends will influence the underlying credit quality of these segments.

Commercial real estate – Loans in this segment are primarily income-producing properties throughout Connecticut, western Massachusetts, and other select markets in the Northeast. The underlying cash flows generated by the properties could be adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Management obtains rent rolls annually, continually monitors the cash flows of these loans and performs stress testing.

Construction loans – Loans in this segment primarily include commercial real estate development and residential subdivision loans for which payment is derived from the sale of the property. Credit risk is affected by cost overruns, time to sell at an adequate price, and market conditions.

Commercial business loans – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy and its effect on business profitability and cash flow could have an effect on the credit quality in this segment.

Installment and collateral loans– Loans in this segment are generally unsecured and repayment is dependent on the credit quality of the individual borrower.

For acquired loans accounted for under ASC 310-30, our allowance for loan losses is estimated based upon our expected cash flows for these loans. To the extent that we experience a deterioration in borrower credit quality resulting in a decrease in our expected cash flows subsequent to the acquisition of the loans, an allowance for loan losses would be established based on our estimate of future credit losses over the remaining life of the loans, in excess of any existing purchase accounting discounts.

Allocated component

The allocated component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis for commercial, commercial real estate and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Residential and installment and collateral loans are evaluated for impairment if payments are 90 days or more delinquent. Updated property evaluations are obtained at time of impairment and serve as the basis for the loss allocation if foreclosure is probable or the loan is collateral dependent.

A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed.

When a loan is determined to be impaired the Company makes a determination if the repayment of the obligation is collateral dependent. As a majority of impaired loans are collateralized by real estate, appraisals on the underlying value of the property securing the obligation are utilized in determining the specific impairment amount that is allocated to the loan as a component of the allowance calculation. If the loan is collateral dependent, an updated appraisal is obtained within a short period of time from the date the loan is determined to be impaired; typically no longer than 30 days for a residential property and 90 days for a commercial real estate property. The appraisal and the appraised value are reviewed for adequacy and then further discounted for estimated disposition costs and the period of time until resolution, in order to determine the impairment amount. The Company updates the appraised value at least annually and on a more frequent basis if current market factors indicate a potential change in valuation.

The majority of the Company’s loans are collateralized by real estate located in central and eastern Connecticut and western Massachusetts in addition to a portion of the commercial real estate loan portfolio located in the Northeast region of the United States. Accordingly, the collateral value of a substantial portion of the Company’s loan portfolio and real estate acquired through foreclosure is susceptible to changes in market conditions in these areas.

Unallocated component

An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio.

Credit Quality Information

The Company utilizes a nine-grade internal loan rating system for residential and commercial real estate, construction, commercial and installment and collateral loans as follows:

Loans rated 1 – 5: Loans in these categories are considered “pass” rated loans with low to average risk.

Loans rated 6: Loans in this category are considered “special mention.” These loans reflect signs of potential weakness and are being closely monitored by management.

Loans rated 7: Loans in this category are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor and there is a distinct possibility that the Company will sustain some loss if the weakness is not corrected.

Loans rated 8: Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable.

Loans rated 9: Loans in this category are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted.

At the time of loan origination, a risk rating based on this nine point grading system is assigned to each loan based on the loan officer’s assessment of risk. For residential real estate and installment and collateral loans, the Company considers factors such as updated FICO scores, employment status, home prices, loan to value and geography. Residential real estate and installment loans are pass rated unless their payment history reveals signs of deterioration, which may result in modifications to the original contractual terms. In situations which require modification to the loan terms, the internal loan grade will typically be reduced to substandard. More complex loans, such as commercial business loans and commercial real estate loans require that our internal credit area further evaluate the risk rating of the individual loan, with the credit area and Chief Credit Officer having final determination of the appropriate risk rating. These more complex loans and relationships receive an in-depth analysis and periodic review to assess the appropriate risk rating on a post-closing basis with changes made to the risk rating as the borrower’s and economic conditions warrant. The credit quality of the Company’s loan portfolio is reviewed by a third-party risk assessment firm on a quarterly basis and by the Company’s internal credit management function. The internal and external analysis of the loan portfolio is utilized to identify and quantify loans with higher than normal risk. Loans having a higher risk profile are assigned a risk rating corresponding to the level of weakness identified in the loan. All loans risk rated Special Mention, Substandard or Doubtful are reviewed by management not less than on a quarterly basis to assess the level of risk and to ensure that appropriate actions are being taken to minimize potential loss exposure. Loans identified as being loss are normally fully charged off.

The following table presents the Company’s loans by risk rating at June 30, 2015 and December 31, 2014:

(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial Business		Installment and Collateral
June 30, 2015
Loans rated 1-5	$	1,481,643	$	1,681,958	$	153,613	$	604,442	$	5,175
Loans rated 6	1,452		45,606		7,739		11,654		—
Loans rated 7	18,718		36,187		5,416		18,384		31
Loans rated 8	—		—		—		49		—
Loans rated 9	—		—		—		—		—
	$	1,501,813	$	1,763,751	$	166,768	$	634,529	$	5,206
December 31, 2014
Loans rated 1-5	$	1,396,866	$	1,606,420	$	174,629	$	570,808	$	5,488
Loans rated 6	1,981		28,616		4,652		21,589		—
Loans rated 7	14,892		43,900		6,562		21,154		264
Loans rated 8	—		—		—		45		—
Loans rated 9	—		—		—		—		—
	$	1,413,739	$	1,678,936	$	185,843	$	613,596	$	5,752

Activity in the allowance for loan losses for the periods ended June 30, 2015 and 2014 were as follows:

(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial Business			Installment and Collateral			Unallocated			Total
Three Months Ended June 30, 2015
Balance, beginning of period	$	8,189		$	10,119		$	1,463		$	4,891		$	34		$	601		$	25,297
Provision (credit) for loan losses	1,093			1,953			562			876			129			(151		)	4,462
Loans charged off	(327		)	(114		)	(62		)	(730		)	(83		)	—			(1,316		)
Recoveries of loans previously charged off	92			—			—			297			24			—			413
Balance, end of period	$	9,047		$	11,958		$	1,963		$	5,334		$	104		$	450		$	28,856
Three Months Ended June 30, 2014
Balance, beginning of period	$	6,491		$	8,554		$	622		$	3,442		$	26		$	365		$	19,500
Provision (credit) for loan losses	735			(688		)	242			1,777			8			6			2,080
Loans charged off	(316		)	—			—			(51		)	(16		)	—			(383		)
Recoveries of loans previously charged off	90			—			—			49			7			—			146
Balance, end of period	$	7,000		$	7,866		$	864		$	5,217		$	25		$	371		$	21,343
Six Months Ended June 30, 2015
Balance, beginning of period	$	7,927		$	9,418		$	1,470		$	5,808		$	75		$	111		$	24,809
Provision (credit) for loan losses	1,510			3,030			995			(39		)	138			339			5,973
Loans charged off	(551		)	(622		)	(502		)	(953		)	(169		)	—			(2,797		)
Recoveries of loans previously charged off	161			132			—			518			60			—			871
Balance, end of period	$	9,047		$	11,958		$	1,963		$	5,334		$	104		$	450		$	28,856
Six Months Ended June 30, 2014
Balance, beginning of period	$	6,396		$	8,288		$	829		$	3,394		$	29		$	247		$	19,183
Provision (credit) for loan losses	991			(422		)	35			1,801			1			124			2,530
Loans charged off	(495		)	—			—			(51		)	(20		)	—			(566		)
Recoveries of loans previously charged off	108			—			—			73			15			—			196
Balance, end of period	$	7,000		$	7,866		$	864		$	5,217		$	25		$	371		$	21,343

Further information pertaining to the allowance for loan losses and impaired loans at June 30, 2015 and December 31, 2014 follows:

(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial Business		Installment and Collateral		Unallocated		Total
June 30, 2015
Allowance related to loans individually evaluated and deemed impaired	$	24	$	22	$	36	$	5	$	—	$	—	$	87
Allowance related to loans collectively evaluated and not deemed impaired	9,023		11,936		1,927		5,329		104		450		28,769
Allowance related to loans acquired with deteriorated credit quality	—		—		—		—		—		—		—
Total allowance for loan losses	$	9,047	$	11,958	$	1,963	$	5,334	$	104	$	450	$	28,856
Loans deemed impaired	$	18,138	$	17,525	$	3,733	$	6,934	$	28	$	—	$	46,358
Loans not deemed impaired	1,483,675		1,742,052		161,004		626,015		5,178		—		4,017,924
Loans acquired with deteriorated credit quality	—		4,174		2,031		1,580		—		—		7,785
Total loans	$	1,501,813	$	1,763,751	$	166,768	$	634,529	$	5,206	$	—	$	4,072,067
December 31, 2014
Allowance related to loans individually evaluated and deemed impaired	$	28	$	316	$	33	$	882	$	—	$	—	$	1,259
Allowance related to loans collectively evaluated and not deemed impaired	7,899		9,102		1,437		4,710		75		111		23,334
Allowance related to loans acquired with deteriorated credit quality	—		—		—		216		—		—		216
Total allowance for loan losses	$	7,927	$	9,418	$	1,470	$	5,808	$	75	$	111	$	24,809
Loans deemed impaired	$	15,981	$	19,514	$	2,610	$	5,846	$	46	$	—	$	43,997
Loans not deemed impaired	1,397,758		1,654,917		180,548		604,055		5,706		—		3,842,984
Loans acquired with deteriorated credit quality	—		4,505		2,685		3,695		—		—		10,885
Total loans	$	1,413,739	$	1,678,936	$	185,843	$	613,596	$	5,752	$	—	$	3,897,866

Management has established the allowance for loan loss in accordance with GAAP at June 30, 2015 based on the current risk assessment and level of loss that is believed to exist within the portfolio. This level of reserve is deemed an appropriate estimate of probable loan losses inherent in the loan portfolio as of June 30, 2015 based upon the analysis conducted and given the portfolio composition, delinquencies, charge offs and risk rating changes experienced during the first six months of 2015 and the three-year evaluation period utilized in the analysis. Based on the qualitative assessment of the portfolio and in thorough consideration of non-performing loans, management believes that the allowance for loan losses properly supports the level of associated loss and risk.

The following is a summary of past due and non-accrual loans at June 30, 2015 and December 31, 2014, including purchased credit impaired loans:

(In thousands)	30-59 Days Past Due		60-89 Days Past Due		Past Due 90 Days or More		Total Past Due		Past Due 90 Days or More and Still Accruing		Loans on Non-accrual
June 30, 2015
Real estate loans:
Residential	$	1,994	$	2,223	$	7,835	$	12,052	$	307	$	16,996
Commercial	2,323		2,762		7,510		12,595		474		11,159
Construction	—		—		681		681		—		1,536
Commercial business loans	3,329		498		4,608		8,435		49		5,655
Installment and collateral	14		6		9		29		—		28
Total	$	7,660	$	5,489	$	20,643	$	33,792	$	830	$	35,374
December 31, 2014
Real estate loans:
Residential	$	18,913	$	3,954	$	7,320	$	30,187	$	—	$	13,972
Commercial	7,734		3,967		9,509		21,210		2,361		12,514
Construction	1,403		227		695		2,325		84		611
Commercial business loans	2,782		3,812		7,486		14,080		2,307		5,217
Installment and collateral	34		—		12		46		—		44
Total	$	30,866	$	11,960	$	25,022	$	67,848	$	4,752	$	32,358

At June 30, 2015, loans reported as past due 90 days or more and still accruing represent Legacy United purchased credit impaired loans, for which an accretable fair value interest mark is being recognized. Additionally, there were certain loans evaluated by management and maintained on accrual status based on an evaluation of the borrower. At December 31, 2014, there was a U.S. Government fully guaranteed loan reported as past due 90 days or more and still accruing in addition to accruing purchased credit impaired loans.

The following is a summary of impaired loans with and without a valuation allowance as of June 30, 2015 and December 31, 2014:

	June 30, 2015						December 31, 2014
(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
Impaired loans without a valuation allowance:
Real estate loans:
Residential	$	17,102	$	22,771	$	—	$	15,233	$	17,143	$	—
Commercial	16,870		22,077		—		18,408		21,202		—
Construction	3,548		2,482		—		2,384		2,441		—
Commercial business loans	6,554		17,052		—		3,804		6,129		—
Installment and collateral loans	28		41		—		46		34		—
Total	44,102		64,423		—		39,875		46,949		—
Impaired loans with a valuation allowance:
Real estate loans:
Residential	$	1,036	$	1,050	$	24	$	748	$	892	$	28
Commercial	655		655		22		1,106		1,271		316
Construction	185		185		36		226		226		33
Commercial business loans	380		475		5		2,042		2,098		882
Total	2,256		2,365		87		4,122		4,487		1,259
Total impaired loans	$	46,358	$	66,788	$	87	$	43,997	$	51,436	$	1,259

The following is a summary of average recorded investment in impaired loans with and without a valuation allowance and interest income recognized on those loans for the three and six months ended June 30, 2015 and 2014:

	For the Three Months   Ended June 30, 2015							For the Three Months   Ended June 30, 2014
(In thousands)	Average Recorded Investment		Interest Income Recognized			Interest Income Recognized on a Cash Basis		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized on a Cash Basis
Impaired loans without a valuation allowance:
Real estate loans:
Residential	$	16,703	$	222		$	176	$	9,677	$	92	$	77
Commercial	17,707		243			144		7,747		21		19
Construction	3,638		(3		)	19		2,809		19		13
Commercial business loans	6,557		236			110		1,210		7		6
Installment and collateral loans	29		1			1		36		—		—
Total	44,634		699			450		21,479		139		115
Impaired loans with a valuation allowance:
Real estate loans:
Residential	518		24			—		1,551		31		13
Commercial	534		2			—		—		—		—
Construction	185		13			—		—		—		—
Commercial business loans	581		(5		)	2		1,305		1		—
Total	1,818		34			2		2,856		32		13
	$	46,452	$	733		$	452	$	24,335	$	171	$	128
	For the Six Months   Ended June 30, 2015							For the Six Months   Ended June 30, 2014
(In thousands)	Average Recorded Investment		Interest Income Recognized			Interest Income Recognized on a Cash Basis		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized on a Cash Basis
Impaired loans without a valuation allowance:
Real estate loans:
Residential	$	16,213	$	398		$	326	$	9,781	$	179	$	164
Commercial	17,941		534			343		7,646		62		60
Construction	3,220		45			20		2,752		34		28
Commercial business loans	5,639		299			152		1,281		19		18
Installment and collateral loans	35		1			1		33		1		—
Total	43,048		1,277			842		21,493		295		270
Impaired loans with a valuation allowance:
Real estate loans:
Residential	595		24			—		1,235		57		36
Commercial	724		7			—		—		—		—
Construction	199		13			—		—		—		—
Commercial business loans	1,068		12			8		870		6		5
Total	2,586		56			8		2,105		63		41
	$	45,634	$	1,333		$	850	$	23,598	$	358	$	311

At June 30, 2015, the Company had impaired loans that had $1.2 million committed to be advanced.

Troubled Debt Restructurings

The restructuring of a loan is considered a troubled debt restructuring (“TDR”) if both (i) the restructuring constitutes a concession by the creditor and (ii) the debtor is experiencing financial difficulties. A TDR may include (i) a transfer from the debtor to the creditor of receivables from third parties, real estate, or other assets to satisfy fully or partially a debt, (ii) issuance or other granting of an equity interest to the creditor by the debtor to satisfy fully or partially a debt unless the equity interest is granted pursuant to existing terms for converting debt into an equity interest, and (iii) modifications of terms of a debt.

The following table provides detail of TDR balances for the periods presented:

(In thousands)	At June 30, 2015		At December 31, 2014
Recorded investment in TDRs:
Accrual status	$	10,985	$	11,638
Non-accrual status	5,346		4,169
Total recorded investment in TDRs	$	16,331	$	15,807
Accruing TDRs performing under modified terms more than one year	$	5,153	$	1,919
Specific reserves for TDRs included in the balance of allowance for loan losses	$	87	$	380
Additional funds committed to borrowers in TDR status	$	44	$	210

Loans restructured as TDRs during the three and six months ended June 30, 2015 and 2014 are set forth in the following table:

	Three Months Ended					Six Months Ended
(Dollars in thousands)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
June 30, 2015
Residential real estate	16	$	2,577	$	2,574	17	$	2,652	$	2,649
Commercial real estate	2	791		791		2	791		791
Construction	2	564		564		2	564		564
Commercial business	1	548		548		2	748		748
Installment and collateral	—	—		—		—	—		—
Total troubled debt restructuring	21	$	4,480	$	4,477	23	$	4,755	$	4,752
June 30, 2014
Residential real estate	2	$	1,004	$	1,004	6	$	1,412	$	1,412
Commercial real estate	1	282		282		1	282		282
Construction	—	—		—		13	3,853		3,853
Commercial business	—	—		—		—	—		—
Installment and collateral	—	—		—		—	—		—
Total troubled debt restructuring	3	$	1,286	$	1,286	20	$	5,547	$	5,547

The following table provides information on loan balances modified as TDRs during the period:

	Three Months Ended June 30,
	2015										2014
(In thousands)	Extended Maturity		Adjusted Interest Rates		Adjusted Rate and Extended Maturity		Payment Deferral		Other		Extended Maturity		Adjusted Interest Rates		Payment Deferral		Other
Residential real estate	$	—	$	901	$	269	$	814	$	593	$	—	$	884	$	—	$	120
Commercial real estate	538		—		253		—		—		—		282		—		—
Construction	564		—		—		—		—		—		—		—		—
Commercial business	548		—		—		—		—		—		—		—		—
	$	1,650	$	901	$	522	$	814	$	593	$	—	$	1,166	$	—	$	120
	Six Months Ended June 30,
	2015										2014
(In thousands)	Extended Maturity		Adjusted Interest Rates		Adjusted Rate and Extended Maturity		Payment Deferral		Other		Extended Maturity		Adjusted Interest Rates		Payment Deferral		Other
Residential real estate	$	—	$	901	$	344	$	814	$	593	$	—	$	884	$	—	$	528
Commercial real estate	538		—		253		—		—		—		282		—		—
Construction	564		—		—		—		—		3,672		—		—		181
Commercial business	748		—		—		—		—		—		—		—		—
	$	1,850	$	901	$	597	$	814	$	593	$	3,672	$	1,166	—		$	709

The following table provides information on loans modified as TDRs within the previous 12 months and for which there was a payment default during the periods presented:

	Six Months Ended			Six Months Ended
	June 30, 2015			June 30, 2014
(Dollars in thousands)	Number of Loans and Leases	Recorded Investment		Number of Loans and Leases	Recorded Investment
Residential real estate	3	$	591	—	$	—
Commercial real estate	6	2,113		—	—
Commercial business	—	—		1	2,610
	9	$	2,704	1	$	2,610

The majority of restructured loans were on accrual status as of June 30, 2015 and December 31, 2014. The financial impact of TDR loans has been minimal to date. Typically, residential loans are restructured with a modification and extension of the loan amortization and maturity at substantially the same interest rate as contained in the original credit extension. As part of the troubled debt restructuring process, the current value of the property is compared to the general ledger loan balance and if not fully supported, a write down is processed through the allowance for loan losses. Commercial real estate loans, commercial construction loans and commercial business loans also contain payment modification agreements and a like assessment of the underlying collateral value if the borrower’s cash flow may be inadequate to service the entire obligation.

Loan Servicing

The Company services certain loans for third parties. The aggregate balance of loans serviced for others was $676.2 million and $559.1 million as of June 30, 2015 and December 31, 2014, respectively. The balances of these loans are not included on the accompanying Consolidated Statements of Condition.

The risks inherent in mortgage servicing rights relate primarily to changes in prepayments that result from shifts in mortgage interest rates. The fair value of mortgage servicing rights at June 30, 2015 and December 31, 2014 was determined using pretax internal rates of return ranging from 8.4% to 10.5% and the Public Securities Association Standard Prepayment model to estimate prepayments on the portfolio with an average prepayment speed of 181 and 187, respectively. The fair value of mortgage servicing rights is obtained from a third party provider.

During the three and six months ended June 30, 2015, the Company received servicing income in the amount of $189,000 and $490,000, respectively, which compares to $256,000 and $496,000 for the same respective periods of 2014. This income is included in income from mortgage banking activities in the Consolidated Statements of Operations.

Mortgage servicing rights are included in other assets on the Consolidated Statements of Condition. The following table summarizes mortgage servicing rights activity for the three and six months ended June 30, 2015 and 2014. Changes in the fair value of mortgage servicing rights are included in income from mortgage banking activities in the Consolidated Statements of Operations.

	For the Three Months   Ended June 30,					For the Six Months   Ended June 30,
(In thousands)	2015		2014			2015		2014
Mortgage servicing rights:
Balance at beginning of period	$	4,921	$	4,084		$	4,729	$	4,103
Addition of Legacy United MSRs	—		764			—		764
Change in fair value recognized in net income (loss)	385		(478		)	—		(631		)
Issuances	688		184			1,265		318
Fair value of mortgage servicing rights at end of period	$	5,994	$	4,554		$	5,994	$	4,554

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Merger

6 Months Ended

Jun. 30, 2015

Business Combinations [Abstract]

Merger

Note 5. Merger

The Company acquired 100% of the outstanding common shares and completed its merger with Legacy United on April 30, 2014. Legacy United’s principal subsidiary was a federally chartered savings bank headquartered in West Springfield, Massachusetts, which operated 35 branch locations, two express drive-up branches, and two loan production offices, primarily in the Springfield and Worcester regions of Massachusetts and in Central Connecticut. The Company entered into the Merger agreement based on its assessment of the anticipated benefits, including enhanced market share and expansion of its banking franchise. The Merger was accounted for as a purchase and, as such, was included in our results of operations from the date of the Merger. The Merger was funded with shares of Rockville common stock and cash. As of the close of trading on April 30, 2014, all of the shareholders of Legacy United received 1.3472 shares of Rockville common stock for each share of Legacy United common stock owned at that date. Total consideration paid at closing was valued at $356.4 million, based on the closing price of $13.16 of Rockville common stock, the value of Legacy United exercisable options and cash paid for fractional shares on April 30, 2014.

The following table summarizes the Merger on April 30, 2014:

(Dollars and shares in thousands)
				Transaction Related Items
Legacy United				Goodwill		Other Identifiable Intangibles		Shares Issued	Value of Legacy United Exercisable Options		Total Purchase Price
Balance at April 30, 2014
Assets		Equity
$	2,442,525	$	304,505	$	114,195	$	10,585	26,706	$	4,909	$	356,394

The transaction was accounted for using the purchase method of accounting in accordance with FASB ASC Topic 805, Business Combinations. Accordingly, the purchase price was allocated based on the estimated fair market values of the assets and liabilities acquired. See the Company’s 2014 audited consolidated financial statements and notes thereto included in United Financial Bancorp, Inc.’s Annual Report on Form 10-K as of and for the year ended December 31, 2014 for additional information.

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Borrowings

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Borrowings

Note 7. Borrowings

FHLBB Advances

The Bank is a member of the FHLBB. Contractual maturities and weighted-average rates of outstanding advances from the FHLBB as of June 30, 2015 and December 31, 2014 are summarized below:

	June 30, 2015				December 31, 2014
(Dollars in thousands)	Amount		Weighted- Average Rate		Amount		Weighted- Average Rate
2015	$	436,256	0.38	%	$	435,763	0.38	%
2016	78,649		0.77		19,714		1.53
2017	76,000		2.50		66,000		2.72
2018	41,291		1.66		16,784		2.19
2019 and thereafter	36,718		1.89		37,300		1.89
	$	668,914	0.83	%	$	575,561	0.84	%

The total carrying value of FHLBB advances at June 30, 2015 was $673.4 million, which includes a remaining fair value adjustment of $4.4 million on advances acquired in the Merger. At December 31, 2014, the total carrying value of FHLBB advances was $581.0 million, with a fair value adjustment of $5.4 million.

At June 30, 2015, eight advances totaling $41.0 million with interest rates ranging from 3.19% to 4.49%, which are scheduled to mature between 2017 and 2018, are callable by the FHLBB. Advances are collateralized by first mortgage loans and investment securities with an estimated eligible collateral value of $1.0 billion and $853.8 million at June 30, 2015 and December 31, 2014, respectively.

In addition to the outstanding advances, the Bank has access to an unused line of credit with the FHLBB amounting to $10.0 million at June 30, 2015 and December 31, 2014. In accordance with an agreement with the FHLBB, the qualified collateral must be free and clear of liens, pledges and have a discounted value equal to the aggregate amount of the line of credit and outstanding advances. At June 30, 2015, the Bank could borrow immediately an additional $298.5 million from the FHLBB, inclusive of the line of credit.

Other Borrowings

The following table presents other borrowings by category as of the dates indicated:

(Dollars in thousands)	June 30, 2015		December 31, 2014
Subordinated debentures	$	79,386	$	79,288
Wholesale repurchase agreements	35,000		69,242
Customer repurchase agreements	31,858		41,335
Other	6,364		6,476
Total other borrowings	$	152,608	$	196,341

Subordinated Debentures

At June 30, 2015 and December 31, 2014, the carrying value of the Company’s subordinated debentures totaled $79.4 million and $79.3 million, respectively.

On September 23, 2014, the Company closed its public offering of $75.0 million of its 5.75% Subordinated Notes due October 1, 2024 (the “Notes”). The Notes were offered to the public at par. Interest on the Notes is payable semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2015. Issuance costs totaled $1.3 million and are being amortized over the life of the Notes as a component of interest expense.

The Company assumed junior subordinated debt as a result of the Merger in 2014 in the form of trust preferred securities issued through a private placement offering with a face amount of $7.7 million. The Company recorded a fair value acquisition discount of $2.3 million on May 1, 2014. The remaining unamortized discount was $2.2 million at June 30, 2015. This issue has a maturity date of March 15, 2036 and bears a floating rate of interest that reprices quarterly at the 3-month LIBOR rate plus 1.85%. A special redemption provision allows the Company to redeem this issue at par on March 15, June 15, September 15, or December 15 of any year subsequent to March 15, 2011.

Repurchase Agreements

The following table presents the Company’s outstanding borrowings under repurchase agreements as of June 30, 2015 and December 31, 2014:

	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight		Up to 1 Year		1 - 3 Years		Greater than 3 Years		Total
June 30, 2015
Repurchase Agreements
U.S. Treasury and agency securities	$	31,858	$	15,000	$	—	$	20,000	$	66,858
Total	$	31,858	$	15,000	$	—	$	20,000	$	66,858
December 31, 2014
Repurchase Agreements
U.S. Treasury and agency securities	$	41,335	$	49,242	$	—	$	20,000	$	110,577
Total	$	41,335	$	49,242	$	—	$	20,000	$	110,577

As of June 30, 2015 and December 31, 2014, advances outstanding under wholesale reverse repurchase agreements totaled $35.0 million and $69.2 million, respectively. The outstanding advances at June 30, 2015 consisted of three individual borrowings with remaining terms of four years or less and a weighted average cost of 1.73%. The outstanding advances at December 31, 2014 had a weighted average cost of 1.07%. The Company pledged investment securities with a market value of $40.5 million and $78.5 million as collateral for these borrowings at June 30, 2015 and December 31, 2014, respectively.

Retail repurchase agreements primarily consist of transactions with commercial and municipal customers, are for a term of one day and are backed by the purchasers’ interest in certain U.S. Government Agency securities or government-sponsored securities. As of June 30, 2015 and December 31, 2014, retail repurchase agreements totaled $31.9 million and $41.3 million, respectively. The Company pledged investment securities with a market value of $39.0 million and $50.8 million as collateral for these borrowings at June 30, 2015 and December 31, 2014, respectively.

Given that the repurchase agreements are secured by investment securities, valued at market value, the collateral position is susceptible to change based upon variation in the market vale of the securities that can arise due to fluctuations in interest rates, among other things. In the event that the interest rate changes result in a decrease in the value of the pledged securities, additional securities will be required to be pledged in order to secure the borrowings. Due to the short term nature of the majority of the repurchase agreements, Management believes the risk of further encumbered securities pose a minimal impact to the Company’s liquidity position.

Other

Other borrowings consist of a secured borrowing and capital lease obligations. The secured borrowing relates to the transfer of a financial asset that did not meet the definition of a participating interest and did not meet sale accounting criteria; therefore, it is accounted for as secured borrowings and classified as long-term debt on the Consolidated Statements of Condition. The Company has capital lease obligations for three of its leased banking branches.

Other Sources of Wholesale Funding

The Bank has relationships with brokered sweep deposit providers by which funds are deposited by the counterparties at the Bank’s request. Amounts outstanding under these agreements are reported as interest-bearing deposits and totaled $121.7 million at a cost of 0.47% at June 30, 2015 and $111.8 million at a cost of 0.47% at December 31, 2014. The Bank maintains open dialogue with the brokered sweep providers and has the ability to increase the deposit balances upon request, up to certain limits based upon internal policy requirements.

Additionally, the Company has unused federal funds lines of credit with five counterparties totaling $122.5 million at June 30, 2015.

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Borrowings - Additional Information (Detail)			6 Months Ended
	Sep. 23, 2014 USD ($)	Apr. 30, 2014 USD ($)	Jun. 30, 2015 USD ($) SecurityLoan Counterparty Advance	Dec. 31, 2014 USD ($)	May. 01, 2014 USD ($)
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Borrowings under repurchase agreements			$ 66,858,000	$ 110,577,000
Advances from FHLBB			673,400,000	581,000,000
Fair value adjustment on FHLBB advances acquired in the Merger			4,400,000	5,400,000
Estimated eligible collateral value			1,000,000,000	853,800,000
Unsecured line of credit			10,000,000.0	$ 10,000,000.0
Additional borrowings			$ 298,500,000.0
Wholesale Reverse Repurchase Agreements [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Number of individual borrowings, wholesale reverse purchase agreements | SecurityLoan			3
Other borrowings remaining maturity term			4 years
Weighted average cost			1.73%	1.07%
Investment securities pledged as collateral			$ 40,500,000	$ 78,500,000
Retail Repurchase Agreements [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Investment securities pledged as collateral			39,000,000	50,800,000
Brokered Sweep Deposit [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Other borrowings			$ 121,700,000	$ 111,800,000
Percentage of other borrowings at cost			0.47%	0.47%
Number of counterparties to unused federal funds lines of credit | Counterparty			5
Committed federal funds lines of credit			$ 122,500,000.0
Subordinated Debt [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Long-term Debt			79,386,000	$ 79,288,000
Junior subordinated debt, face amount		$ 7,700,000.0
Fair value acquisition discount					$ 2,300,000
Remaining unamortized discount			$ 2,200,000
Subordinated Debt [Member] | Subordinated Notes Due October 2024 [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Subordinated notes, face amount	$ 75,000,000.0
Subordinated notes, stated interest rate	5.75%
Debt issuance cost	$ 1,300,000
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Debt [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Basis spread on LIBOR rate		1.85%
Maximum [Member] | Borrowings One [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Other borrowings remaining maturity term			4 years
Maximum [Member] | Borrowings Two [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Other borrowings remaining maturity term			4 years
Maximum [Member] | Borrowings Three [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Other borrowings remaining maturity term			4 years
Federal Home Loan Bank, Advances, Callable Option [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Advances from FHLBB			$ 41,000,000
Number of advances | Advance			8
Interest rates, Minimum			3.19%
Interest rates, Maximum			4.49%
Federal Home Loan Bank, Advances, Callable Option [Member] | Minimum [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Federal home loan bank advances, maturity year			2017
Federal Home Loan Bank, Advances, Callable Option [Member] | Maximum [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Federal home loan bank advances, maturity year			2018
US Treasury and Government [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Borrowings under repurchase agreements			$ 66,858,000	110,577,000
US Treasury and Government [Member] | Wholesale Reverse Repurchase Agreements [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Borrowings under repurchase agreements			35,000,000	69,242,000
US Treasury and Government [Member] | Retail Repurchase Agreements [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Borrowings under repurchase agreements			$ 31,858,000	$ 41,335,000

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Fair Value Measurement - Changes in Fair Value of Mortgage Loans Held for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Gain From Sales of Loans [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Mortgage loans held for sale	$ 551	$ 517	$ 681	$ 568

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Borrowings - Outstanding Borrowings Under Repurchase Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	$ 66,858	$ 110,577
Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	31,858	41,335
Maturity Up To 1 Year [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	15,000	49,242
Maturity 1 to 3 Years [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	0	0
Maturity Greater Than 3 Years [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	20,000	20,000
US Treasury and Government [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	66,858	110,577
US Treasury and Government [Member] | Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	31,858	41,335
US Treasury and Government [Member] | Maturity Up To 1 Year [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	15,000	49,242
US Treasury and Government [Member] | Maturity 1 to 3 Years [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	0	0
US Treasury and Government [Member] | Maturity Greater Than 3 Years [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Borrowings under repurchase agreements	$ 20,000	$ 20,000

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Borrowings - Contractual Maturities and Weighted-Average Rates of Outstanding Advances (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
2015	$ 436,256	$ 435,763
2016	78,649	19,714
2017	76,000	66,000
2018	41,291	16,784
2019 and thereafter	36,718	37,300
Federal Home Loan Bank, Advances, Total	$ 668,914	$ 575,561
Weighted-Average Rate, 2015	0.38%	0.38%
Weighted-Average Rate, 2016	0.77%	1.53%
Weighted-Average Rate, 2017	2.50%	2.72%
Weighted-Average Rate, 2018	1.66%	2.19%
Weighted-Average Rate, 2019 and thereafter	1.89%	1.89%
Weighted-Average Rate, Net	0.83%	0.84%

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Commitments and Contingencies - Financial Instruments Contract Amounts Represent Credit Risk (Detail) - Commitments to Extend Credit [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Commitments to extend credit:
Commitments to extend credit, amount	$ 1,025,869	$ 903,720
Commitment to Grant Loans [Member]
Commitments to extend credit:
Commitments to extend credit, amount	288,253	128,766
Undisbursed Construction Loans [Member]
Commitments to extend credit:
Commitments to extend credit, amount	107,922	144,118
Undisbursed Home Equity Lines of Credit [Member]
Commitments to extend credit:
Commitments to extend credit, amount	307,817	321,346
Undisbursed Commercial Lines of Credit [Member]
Commitments to extend credit:
Commitments to extend credit, amount	308,704	295,639
Standby Letters of Credit [Member]
Commitments to extend credit:
Commitments to extend credit, amount	11,838	12,547
Unused Checking Overdraft Lines of Credit [Member]
Commitments to extend credit:
Commitments to extend credit, amount	$ 1,335	$ 1,304

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Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Regulatory Capital Amounts and Ratios

The following is a summary of the Company’s and the Bank’s regulatory capital amounts and ratios as of June 30, 2015 and December 31, 2014 compared to the Federal Deposit Insurance Corporation’s requirements for classification as a well-capitalized institution and for minimum capital adequacy:

	Actual				Minimum For Capital Adequacy Purposes				Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions
(Dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
United Bank:
June 30, 2015
Total capital to risk weighted assets	$	557,550	12.6	%	$	354,563	8.0	%	$	443,203	10.0	%
Common equity tier 1 capital to risk weighted assets	527,359		11.9		199,421		4.5		288,053		6.5
Tier 1 capital to risk weighted assets	527,359		11.9		265,895		6.0		354,527		8.0
Tier 1 capital to total average assets	527,359		9.7		216,797		4.0		270,996		5.0
December 31, 2014
Total capital to risk weighted assets	$	513,960	12.9	%	$	317,750	8.0	%	$	397,187	10.0	%
Tier 1 capital to risk weighted assets	487,713		12.3		158,864		4.0		238,296		6.0
Tier 1 capital to total average assets	487,713		9.3		210,221		4.0		262,776		5.0
United Financial Bancorp, Inc.
June 30, 2015
Total capital to risk weighted assets	$	608,638	13.7	%	$	335,150	8.0	%	$	443,937	10.0	%	(1)
Common equity tier 1 capital to risk weighted assets	503,447		11.3		199,781		4.5		288,572		6.5		(1)
Tier 1 capital to risk weighted assets	503,447		11.3		266,374		6.0		355,165		8.0		(1)
Tier 1 capital to total average assets	503,447		9.3		217,003		4.0		271,254		5.0		(1)
December 31, 2014
Total capital to risk weighted assets	$	579,109	14.6	%	$	317,973	8.0	%	N/A		N/A
Tier 1 capital to risk weighted assets	477,862		12.0		159,022		4.0		N/A		N/A
Tier 1 capital to total average assets	477,862		9.1		210,049		4.0		N/A		N/A

(1) Pursuant to Basel III regulatory capital reform rules effective January 1, 2015.

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Loans Receivable and Allowance for Loan Losses - Summary of Past Due and Non-Accrual Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	$ 7,660	$ 30,866
60-89 Days Past Due	5,489	11,960
Past Due 90 Days or More	20,643	25,022
Total Past Due	33,792	67,848
Past Due 90 Days or More and Still Accruing	830	4,752
Loans on Non-accrual	35,374	32,358
Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	1,994	18,913
60-89 Days Past Due	2,223	3,954
Past Due 90 Days or More	7,835	7,320
Total Past Due	12,052	30,187
Past Due 90 Days or More and Still Accruing	307	0
Loans on Non-accrual	16,996	13,972
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	2,323	7,734
60-89 Days Past Due	2,762	3,967
Past Due 90 Days or More	7,510	9,509
Total Past Due	12,595	21,210
Past Due 90 Days or More and Still Accruing	474	2,361
Loans on Non-accrual	11,159	12,514
Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	0	1,403
60-89 Days Past Due	0	227
Past Due 90 Days or More	681	695
Total Past Due	681	2,325
Past Due 90 Days or More and Still Accruing	0	84
Loans on Non-accrual	1,536	611
Commercial Business Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	3,329	2,782
60-89 Days Past Due	498	3,812
Past Due 90 Days or More	4,608	7,486
Total Past Due	8,435	14,080
Past Due 90 Days or More and Still Accruing	49	2,307
Loans on Non-accrual	5,655	5,217
Installment and Collateral Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	14	34
60-89 Days Past Due	6	0
Past Due 90 Days or More	9	12
Total Past Due	29	46
Past Due 90 Days or More and Still Accruing	0	0
Loans on Non-accrual	$ 28	$ 44

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Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 12. Accumulated Other Comprehensive Loss

Components of accumulated other comprehensive loss, net of taxes, consist of the following:

(In thousands)	Net Unrealized Gain (Loss) on Benefit Plans			Net Unrealized Gain (Loss) on Available For Sale Securities			Net Unrealized Gain (Loss) on Interest Rate Swaps			Accumulated Other Comprehensive Loss
December 31, 2014	$	(6,509	)	$	656		$	(637	)	$	(6,490	)
Change	391			(3,685		)	(398		)	(3,692		)
June 30, 2015	$	(6,118	)	$	(3,029	)	$	(1,035	)	$	(10,182	)

The components of accumulated other comprehensive loss, included in stockholders’ equity, are as follows:

(In thousands)	June 30, 2015			December 31, 2014
Benefit plans:
Unrecognized net actuarial loss	$	(9,569	)	$	(9,952	)
Tax effect	3,451			3,443
Net-of-tax amount	(6,118		)	(6,509		)
Securities available for sale:
Net unrealized gain (loss)	(4,716		)	1,030
Tax effect	1,687			(374		)
Net-of-tax amount	(3,029		)	656
Interest rate swaps:
Net unrealized loss	(1,632		)	(996		)
Tax effect	597			359
Net-of-tax amount	(1,035		)	(637		)
	$	(10,182	)	$	(6,490	)

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Securities (Tables)

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Available for Sale and Held to Maturity Securities

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities at June 30, 2015 and December 31, 2014 are as follows:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2015
Available for sale:
Debt securities:
U.S. Government and government-sponsored enterprise obligations	$	10,630	$	79	$	(245	)	$	10,464
Government-sponsored residential mortgage-backed securities	126,865		700		(1,440		)	126,125
Government-sponsored residential collateralized debt obligations	280,162		1,737		(1,010		)	280,889
Government-sponsored commercial mortgage-backed securities	54,111		626		(265		)	54,472
Government-sponsored commercial collateralized debt obligations	133,795		832		(187		)	134,440
Asset-backed securities	162,957		871		(646		)	163,182
Corporate debt securities	52,472		52		(1,992		)	50,532
Obligations of states and political subdivisions	215,725		252		(4,372		)	211,605
Total debt securities	1,036,717		5,149		(10,157		)	1,031,709
Marketable equity securities, by sector:
Banks	26,846		375		(261		)	26,960
Industrial	109		57		—			166
Mutual funds	2,840		77		(4		)	2,913
Oil and gas	131		48		—			179
Total marketable equity securities	29,926		557		(265		)	30,218
Total available for sale securities	$	1,066,643	$	5,706	$	(10,422	)	$	1,061,927
Held to maturity:
Debt securities:
Obligations of states and political subdivisions	$	12,379	$	686	$	(7	)	$	13,058
Government-sponsored residential mortgage-backed securities	2,613		307		—			2,920
Total held to maturity securities	$	14,992	$	993	$	(7	)	$	15,978

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2014
Available for sale:
Debt securities:
U.S. Government and government-sponsored enterprise obligations	$	6,965	$	94	$	(237	)	$	6,822
Government-sponsored residential mortgage-backed securities	165,199		2,379		(159		)	167,419
Government-sponsored residential collateralized debt obligations	237,128		1,365		(360		)	238,133
Government-sponsored commercial mortgage-backed securities	67,470		1,081		(253		)	68,298
Government-sponsored commercial collateralized debt obligations	129,547		737		(598		)	129,686
Asset-backed securities	181,198		272		(2,715		)	178,755
Corporate debt securities	43,907		35		(1,697		)	42,245
Obligations of states and political subdivisions	194,857		1,572		(657		)	195,772
Total debt securities	1,026,271		7,535		(6,676		)	1,027,130
Marketable equity securities, by sector:
Banks	22,645		277		(340		)	22,582
Industrial	109		76		—			185
Mutual funds	2,824		89		(3		)	2,910
Oil and gas	131		73		—			204
Total marketable equity securities	25,709		515		(343		)	25,881
Total available for sale securities	$	1,051,980	$	8,050	$	(7,019	)	$	1,053,011
Held to maturity:
Debt securities:
Obligations of states and political subdivisions	$	12,397	$	1,006	$	—		$	13,403
Government-sponsored residential mortgage-backed securities	2,971		339		—			3,310
Total held to maturity securities	$	15,368	$	1,345	$	—		$	16,713

Amortized Cost and Fair Value of Debt Securities

The amortized cost and fair value of debt securities at June 30, 2015 by contractual maturities are presented below. Actual maturities may differ from contractual maturities because some securities may be called or repaid without any penalties. Also, because mortgage-backed securities require periodic principal paydowns, they are not included in the maturity categories in the following maturity summary.

	Available for Sale				Held to Maturity
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity:
Within 1 year	$	225	$	225	$	—	$	—
After 1 year through 5 years	4,799		4,699		—		—
After 5 years through 10 years	51,975		51,293		1,199		1,208
After 10 years	221,828		216,384		11,180		11,850
	278,827		272,601		12,379		13,058
Government-sponsored residential mortgage-backed securities	126,865		126,125		2,613		2,920
Government-sponsored residential collateralized debt obligations	280,162		280,889		—		—
Government-sponsored commercial mortgage-backed securities	54,111		54,472		—		—
Government-sponsored commercial collateralized debt obligations	133,795		134,440		—		—
Asset-backed securities	162,957		163,182		—		—
Total debt securities	$	1,036,717	$	1,031,709	$	14,992	$	15,978

Summary of Gross Unrealized Losses and Fair Value

The following table summarizes gross unrealized losses and fair value, aggregated by category and length of time the securities have been in a continuous unrealized loss position, as of June 30, 2015 and December 31, 2014:

	Less Than 12 Months					12 Months or More					Total
(In thousands)	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
June 30, 2015
Available for sale:
Debt Securities:
U.S. Government and government-sponsored enterprise obligations	$	—	$	—		$	4,749	$	(245	)	$	4,749	$	(245	)
Government-sponsored residential mortgage-backed securities	66,416		(1,074		)	18,539		(366		)	84,955		(1,440		)
Government-sponsored residential collateralized debt obligations	98,728		(946		)	3,851		(64		)	102,579		(1,010		)
Government-sponsored commercial mortgage-backed securities	8,897		(62		)	10,408		(203		)	19,305		(265		)
Government-sponsored commercial collateralized debt obligations	32,375		(187		)	—		—			32,375		(187		)
Asset-backed securities	38,548		(220		)	27,717		(426		)	66,265		(646		)
Corporate debt securities	46,889		(820		)	1,585		(1,172		)	48,474		(1,992		)
Obligations of states and political subdivisions	171,491		(3,978		)	13,302		(394		)	184,793		(4,372		)
Total debt securities	463,344		(7,287		)	80,151		(2,870		)	543,495		(10,157		)
Marketable equity securities	10,933		(261		)	184		(4		)	11,117		(265		)
Total available for sale securities	$	474,277	$	(7,548	)	$	80,335	$	(2,874	)	$	554,612	$	(10,422	)
Held to Maturity:
Debt Securities:
Obligations of states and political subdivisions	1,110		(7		)	—		—			1,110		(7		)
Total held to maturity securities	$	1,110	$	(7	)	$	—	$	—		$	1,110	$	(7	)
December 31, 2014
Available for sale:
Debt Securities:
U.S. Government and government-sponsored enterprise obligations	$	—	$	—		$	4,757	$	(237	)	$	4,757	$	(237	)
Government-sponsored residential mortgage-backed securities	1,492		(11		)	19,785		(148		)	21,277		(159		)
Government-sponsored residential collateralized debt obligations	35,769		(124		)	17,443		(236		)	53,212		(360		)
Government-sponsored commercial mortgage-backed securities	14,118		(15		)	16,337		(238		)	30,455		(253		)
Government-sponsored commercial collateralized debt obligations	62,477		(551		)	4,991		(47		)	67,468		(598		)
Asset-backed securities	128,808		(2,080		)	20,146		(635		)	148,954		(2,715		)
Corporate debt securities	30,634		(501		)	5,054		(1,196		)	35,688		(1,697		)
Obligations of states and political subdivisions	55,029		(419		)	18,568		(238		)	73,597		(657		)
Total debt securities	328,327		(3,701		)	107,081		(2,975		)	435,408		(6,676		)
Marketable equity securities	12,716		(340		)	140		(3		)	12,856		(343		)
Total available for sale securities	$	341,043	$	(4,041	)	$	107,221	$	(2,978	)	$	448,264	$	(7,019	)

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Loans Receivable and Allowance for Loan Losses - Summary of Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Activity in the Allowance for Loan Losses
Balance, beginning of period	$ 25,297	$ 19,500	$ 24,809	$ 19,183
Provision (credit) for loan losses	4,462	2,080	5,973	2,530
Loans charged off	(1,316)	(383)	(2,797)	(566)
Recoveries of loans previously charged off	413	146	871	196
Balance, end of period	28,856	21,343	28,856	21,343
Residential Real Estate [Member]
Activity in the Allowance for Loan Losses
Balance, beginning of period	8,189	6,491	7,927	6,396
Provision (credit) for loan losses	1,093	735	1,510	991
Loans charged off	(327)	(316)	(551)	(495)
Recoveries of loans previously charged off	92	90	161	108
Balance, end of period	9,047	7,000	9,047	7,000
Commercial Real Estate [Member]
Activity in the Allowance for Loan Losses
Balance, beginning of period	10,119	8,554	9,418	8,288
Provision (credit) for loan losses	1,953	(688)	3,030	(422)
Loans charged off	(114)		(622)	0
Recoveries of loans previously charged off			132	0
Balance, end of period	11,958	7,866	11,958	7,866
Construction [Member]
Activity in the Allowance for Loan Losses
Balance, beginning of period	1,463	622	1,470	829
Provision (credit) for loan losses	562	242	995	35
Loans charged off	(62)	0	(502)	0
Recoveries of loans previously charged off			0	0
Balance, end of period	1,963	864	1,963	864
Commercial Business Loans [Member]
Activity in the Allowance for Loan Losses
Balance, beginning of period	4,891	3,442	5,808	3,394
Provision (credit) for loan losses	876	1,777	(39)	1,801
Loans charged off	(730)	(51)	(953)	(51)
Recoveries of loans previously charged off	297	49	518	73
Balance, end of period	5,334	5,217	5,334	5,217
Installment and Collateral Loans [Member]
Activity in the Allowance for Loan Losses
Balance, beginning of period	34	26	75	29
Provision (credit) for loan losses	129	8	138	1
Loans charged off	(83)	(16)	(169)	(20)
Recoveries of loans previously charged off	24	7	60	15
Balance, end of period	104	25	104	25
Unallocated [Member]
Activity in the Allowance for Loan Losses
Balance, beginning of period	601	365	111	247
Provision (credit) for loan losses	(151)	6	339	124
Loans charged off			0	0
Recoveries of loans previously charged off			0	0
Balance, end of period	$ 450	$ 371	$ 450	$ 371

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Securities - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015 USD ($) Security	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($) Security Issue	Jun. 30, 2014 USD ($)	Dec. 31, 2014 USD ($) Security Issue
Investments, Debt and Equity Securities [Abstract]
Unrealized gain on securities available for sale	$ 4,716		$ 4,716		$ (1,030)
Tax effect	1,687		1,687		(374)
Unrealized gain on securities available for sale, net of tax	$ 3,029		$ 3,029		$ (656)
Number of encumbered securities | Security	94		94		219
Encumbered securities pledged as derivative collateral	$ 355,600		$ 355,600		$ 336,300
Gross gains realized on the sale of available for sale securities	604	$ 1,000	2,300	$ 1,300
Gross losses realized on the sale of available for sale securities	$ 244	$ 446	$ 1,600	$ 446
Aggregate book value of Company's stockholders' equity	10.00%		10.00%
Estimated fair value of obligations of states and political subdivisions	$ 224,700		$ 224,700
General obligation bonds	95,800		95,800
Obligations of political subdivisions	$ 69,800		$ 69,800
Number of issues had unrealized losses for less than twelve months | Issue			152		155
Unrealized losses equaling cost basis for less than twelve months	1.60%		1.60%		1.20%
Number of issues had unrealized losses for twelve months or more | Issue			92		78
Unrealized losses equaling cost basis for twelve months or more	3.50%		3.50%		2.70%
Yield on security	0.00%		0.00%

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Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 13,332	$ (5,571)	$ 26,357	$ (4,624)
Securities available for sale:
Unrealized holding gains (losses)		(14,052)	7,637	(5,049)	12,880
Reclassification adjustment for gains realized in operations	[1]	(360)	(589)	(698)	(857)
Net unrealized gains (losses)		(14,412)	7,048	(5,747)	12,023
Tax effect - benefit (expense)		5,180	(2,472)	2,062	(4,214)
Net-of-tax amount - securities available for sale		(9,232)	4,576	(3,685)	7,809
Interest rate swaps designated as cash flow hedges:
Unrealized gains (losses)		2,715	(2,366)	(635)	(4,887)
Reclassification adjustment for expense realized in operations	[2]	0	0	12	0
Net unrealized gains (losses)		2,715	(2,366)	(623)	(4,887)
Tax effect - benefit (expense)		(978)	802	225	1,685
Net-of-tax amount - interest rate swaps		1,737	(1,564)	(398)	(3,202)
Defined benefit pension plans:
Reclassification adjustment for losses recognized in net periodic benefit cost	[3]	185	0	369	0
Tax effect - benefit (expense)		(62)	0	7	0
Net-of-tax amount - pension plans		123	0	376	0
Post-retirement plans:
Reclassification adjustment for prior service costs recognized in net periodic benefit cost	[4]	1	3	3	8
Reclassification adjustment for losses recognized in net periodic benefit cost	[4]	5	0	11	0
Losses arising during the period		0	(2)	0	(5)
Change in losses and prior service costs		6	1	14	3
Tax effect - benefit (expense)		(2)	(1)	1	(1)
Net-of-tax amount - post-retirement plans		4	0	15	2
Net-of-tax amount - pension and post-retirement plans		127	0	391	2
Total other comprehensive income (loss)		(7,368)	3,012	(3,692)	4,609
Comprehensive income (loss)		$ 5,964	$ (2,559)	$ 22,665	$ (15)

[1] Amounts are included in gain on sales of securities, net in the unaudited Consolidated Statements of Operations in total non-interest income. Income tax benefit associated with the reclassification adjustment was $129 and $206 for the three months ended June 30, 2015 and 2014, respectively and $251 and $300 for the six months ended June 30, 2015 and 2014, respectively.

[2] Amounts are included in borrowed funds in the unaudited Consolidated Statements of Operations in interest expense. Income tax benefit associated with the reclassification adjustment for the three and six months ended June 30, 2015 was zero and $4, respectively.

[3] Amounts are included in salaries and employee benefits in the unaudited Consolidated Statements of Operations in total non-interest expense. Income tax expense associated with the reclassification adjustment for the three and six months ended June 30, 2015 and 2014 was $67 and $133, respectively, and zero and zero, respectively.

[4] Amounts are included in salaries and employee benefits in the unaudited Consolidated Statements of Operations in total non-interest expense. Income tax expense associated with the reclassification adjustment for prior period service costs for the three months ended June 30, 2015 and 2014 was zero and $1, respectively, and $1 and $3, for the six month ended June 30, 2015 and 2014, respectively. Income tax expense associated with the reclassification adjustment of the losses recognized in net periodic benefit cost for the three and six months ended June 30, 2015 was $2 and $4, respectively.

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Fair Value Measurements - Additional Quantitative Information of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available for sale securities	$ 1,061,927,000		$ 1,053,011,000
Mortgage servicing rights	5,994,000	$ 4,921,000	4,729,000	$ 4,554,000	$ 4,084,000	$ 4,103,000
Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available for sale securities	1,061,927,000		1,053,011,000
Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available for sale securities	146,956,000		137,207,000
Asset-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available for sale securities	163,182,000		178,755,000
Asset-Backed Securities [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available for sale securities	$ 145,371,000		135,589,000
Asset-Backed Securities [Member] | Minimum [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	1.30%
Cumulative Default %	6.40%
Loss Given Default	2.00%
Asset-Backed Securities [Member] | Maximum [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	6.30%
Cumulative Default %	12.10%
Loss Given Default	8.40%
Asset-Backed Securities [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	4.50%
Cumulative Default %	9.10%
Loss Given Default	2.90%
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available for sale securities	$ 50,532,000		42,245,000
Corporate Debt Securities [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available for sale securities	$ 1,585,000		1,618,000
Corporate Debt Securities [Member] | Minimum [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Cumulative Default %	2.80%
Loss Given Default	85.00%
Corporate Debt Securities [Member] | Maximum [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Cumulative Default %	78.00%
Loss Given Default	100.00%
Corporate Debt Securities [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	7.30%
Cumulative Default %	13.50%
Loss Given Default	89.80%
Mortgage Loans [Member] | Minimum [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	8.00%
Cost to Service	$ 40
Mortgage Loans [Member] | Maximum [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	17.00%
Cost to Service	$ 100
Mortgage Loans [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate	9.50%
Cost to Service	$ 51.8
Float Earnings Rate	0.25%
Mortgage Servicing Rights [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Mortgage servicing rights	$ 5,994,000		4,729,000
Mortgage Servicing Rights [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Mortgage servicing rights	$ 5,994,000		$ 4,729,000

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1. Summary of Significant Accounting Policies

Nature of Operations

On April 30, 2014, Rockville Financial, Inc. (“Rockville”) completed its merger with United Financial Bancorp, Inc. (“Legacy United”) and changed its legal entity name to United Financial Bancorp, Inc. (the “Company”). In connection with this merger, Rockville Bank, the Company’s principal asset and wholly-owned subsidiary, completed its merger with Legacy United’s banking subsidiary, United Bank, and changed its name to United Bank (the “Bank”). Discussions throughout this report related to the merger with Legacy United are referred to as the “Merger.”

The consolidated financial statements for periods prior to April 30, 2014 do not reflect the operations of Legacy United.

The Company, through United Bank and various subsidiaries, delivers financial services to individuals, families and businesses primarily throughout Connecticut and Massachusetts through 52 banking offices, its commercial loan production offices, its mortgage loan production offices, 63 ATMs, telephone banking, mobile banking and its internet website (www.bankatunited.com).

Basis of Presentation

The consolidated interim financial statements and the accompanying notes presented in this report include the accounts of the Company, the Bank and the Bank’s wholly-owned subsidiaries, United Bank Mortgage Company, United Bank Investment Corp., Inc., United Bank Commercial Properties, Inc., United Bank Residential Properties, Inc., United Northeast Financial Advisors, Inc., United Bank Investment Sub, Inc., UCB Securities, Inc. II and UB Properties, LLC.

The consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included in the interim unaudited consolidated financial statements. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or any future period. These unaudited interim consolidated financial statements should be read in conjunction with the Company’s 2014 audited consolidated financial statements and notes thereto included in United Financial Bancorp, Inc.’s Annual Report on Form 10-K as of and for the year ended December 31, 2014.

Common Share Repurchases

The Company is chartered in the state of Connecticut. Connecticut law does not provide for treasury shares, rather shares repurchased by the Company constitute authorized but unissued shares. GAAP states that accounting for treasury stock shall conform to state law. Therefore, the cost of shares repurchased by the Company has been allocated to common stock balances. Notwithstanding the foregoing, prior to June 30, 2014, the Consolidated Statement of Condition refers to repurchased shares as “treasury stock.”

Reclassifications

Certain reclassifications have been made in prior periods’ consolidated financial statements to conform to the 2015 presentation. These reclassifications had no impact on the Company’s consolidated financial position, results of operations or net change in cash equivalents. All significant intercompany transactions have been eliminated.

Use of Estimates

The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Actual results in the future could vary from the amounts derived from management’s estimates and assumptions. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, realizability of deferred tax assets, the evaluation of securities for other-than-temporary impairment, the valuation of derivative instruments and hedging activities and goodwill impairment valuations.

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Loans Receivable and Allowance for Loan Losses - Summary of Mortgage Servicing Rights Activity (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Mortgage servicing rights:
Balance at beginning of period	$ 4,921	$ 4,084	$ 4,729	$ 4,103
Addition of Legacy United MSRs	0	764	0	764
Change in fair value recognized in net income (loss)	385	(478)	0	(631)
Issuances	688	184	1,265	318
Fair value of mortgage servicing rights at end of period	$ 5,994	$ 4,554	$ 5,994	$ 4,554

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Accumulated Other Comprehensive Loss - Components Included in Stockholder's Equity (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Benefit plans:
Unrecognized net actuarial loss	$ (9,569)	$ (9,952)
Tax effect	3,451	3,443
Net-of-tax amount	(6,118)	(6,509)
Securities available for sale:
Net unrealized gain (loss)	(4,716)	1,030
Tax effect	1,687	(374)
Net-of-tax amount	(3,029)	656
Interest rate swaps:
Net unrealized loss	(1,632)	(996)
Tax effect	597	359
Net-of-tax amount	(1,035)	(637)
Accumulated other comprehensive loss, included in stockholder's equity
Accumulated other comprehensive loss, net of tax	$ (10,182)	$ (6,490)

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Derivatives and Hedging Activities - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015 USD ($) Counterparty borrower Derivative	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($) Counterparty borrower Derivative	Jun. 30, 2014 USD ($)	Dec. 31, 2014 USD ($)
Derivative [Line Items]
Estimated reduction/increase to interest expense	$ 7,808	$ 3,888	$ 14,760	$ 6,682
Forecasted transactions, period			36 months
Derivative notional amount	627,786		$ 627,786		$ 405,822
Fair value of net derivatives, liability position	7,100		7,100
Amount of collateral	$ 5,000		$ 5,000
Not Designated as Hedging Instruments [Member] | Borrower-Facing Rate Derivatives [Member]
Derivative [Line Items]
Number of derivative instruments | Derivative	28		28
Derivative notional amount	$ 181,700		$ 181,700
Not Designated as Hedging Instruments [Member] | Broker Derivatives [Member]
Derivative [Line Items]
Number of derivative instruments | Derivative	28		28
Derivative notional amount	$ 181,700		$ 181,700
Interest Rate Contract [Member] | Designated as Hedging Instruments [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Number of derivative instruments | Derivative	6		6
Derivative notional amount	$ 175,000		$ 175,000
Interest Rate Contract [Member] | Designated as Hedging Instruments [Member] | Fair Value Hedge [Member]
Derivative [Line Items]
Number of derivative instruments | Derivative	3		3
Derivative notional amount	$ 35,000		$ 35,000
Interest Rate Swaps [Member] | Cash Flow Hedges [Member]
Derivative [Line Items]
Derivative notional amount	25,000		25,000		25,000
Interest Rate Swaps [Member] | Fair Value Hedge [Member]
Derivative [Line Items]
Derivative notional amount	$ 35,000		$ 35,000		$ 35,000
Interest Rate Swaps [Member] | Derivatives [Member]
Derivative [Line Items]
Net reduction to interest expense				$ 23
Interest Rate Swap, Risk Participation Agreement [Member] | Not Designated as Hedging Instruments [Member]
Derivative [Line Items]
Number of derivative instruments | Derivative	2		2
Derivative notional amount	$ 6,800		$ 6,800
Number of counterparties in risk participation agreements | Counterparty	2		2
Number of borrowers involved in the risk participation agreements | borrower	2		2
Counterparty participation level, percentage			46.90%
Net Unrealized Gain (Loss) on Available For Sale Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Derivative [Line Items]
Estimated reduction/increase to interest expense			$ 1,500

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Loans Receivable and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Summary of Company's Loan Portfolio

A summary of the Company’s loan portfolio is as follows:

(In thousands)	At June 30, 2015			At December 31, 2014
Real estate loans:
Residential	$	1,501,813		$	1,413,739
Commercial	1,763,751			1,678,936
Construction	166,768			185,843
Total real estate loans	3,432,332			3,278,518
Commercial business loans	634,529			613,596
Installment and collateral loans	5,206			5,752
Total loans	4,072,067			3,897,866
Net deferred loan costs and premiums	5,559			4,006
Allowance for loan losses	(28,856		)	(24,809		)
Loans - net	$	4,048,770		$	3,877,063

Summary of Acquired Loan Portfolio Subject to Purchased Credit Impairment Accounting Guidance

Information about the acquired loan portfolio subject to Purchased Credit Impaired (“PCI”) accounting guidance (ASC 310-30) as of April 30, 2014 is as follows:

(In thousands)
	April 30, 2014
Contractually required principal and interest at acquisition	$	18,540
Contractual cash flows not expected to be collected (nonaccretable)	(6,415		)
Expected cash flows at acquisition (1)	12,125
Interest component of expected cash flows (accretable)	(2,235		)
Fair value of acquired PCI loans	$	9,890

(1) Prepayments were not factored into the expected cash flows

Summary of Accretable Yields for Total Acquired Loan Portfolio

The following table summarizes the activity in the the accretable yield balance for PCI loans for the three and six months ended June 30, 2015:

(In thousands)	For the Three Months   Ended June 30,						For the Six Months   Ended June 30,
	2015			2014			2015			2014
Balance at beginning of period	$	(708	)	$	—		$	(1,587	)	$	—
Acquisition	—			(2,235		)	—			(2,235		)
Accretion	78			327			177			327
Reclassification to nonaccretable balance	60			—			840			—
Balance at end of period	$	(570	)	$	(1,908	)	$	(570	)	$	(1,908	)

Company's Loans by Risk Rating

The following table presents the Company’s loans by risk rating at June 30, 2015 and December 31, 2014:

(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial Business		Installment and Collateral
June 30, 2015
Loans rated 1-5	$	1,481,643	$	1,681,958	$	153,613	$	604,442	$	5,175
Loans rated 6	1,452		45,606		7,739		11,654		—
Loans rated 7	18,718		36,187		5,416		18,384		31
Loans rated 8	—		—		—		49		—
Loans rated 9	—		—		—		—		—
	$	1,501,813	$	1,763,751	$	166,768	$	634,529	$	5,206
December 31, 2014
Loans rated 1-5	$	1,396,866	$	1,606,420	$	174,629	$	570,808	$	5,488
Loans rated 6	1,981		28,616		4,652		21,589		—
Loans rated 7	14,892		43,900		6,562		21,154		264
Loans rated 8	—		—		—		45		—
Loans rated 9	—		—		—		—		—
	$	1,413,739	$	1,678,936	$	185,843	$	613,596	$	5,752

Summary of Activity in Allowance for Loan Losses

Activity in the allowance for loan losses for the periods ended June 30, 2015 and 2014 were as follows:

(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial Business			Installment and Collateral			Unallocated			Total
Three Months Ended June 30, 2015
Balance, beginning of period	$	8,189		$	10,119		$	1,463		$	4,891		$	34		$	601		$	25,297
Provision (credit) for loan losses	1,093			1,953			562			876			129			(151		)	4,462
Loans charged off	(327		)	(114		)	(62		)	(730		)	(83		)	—			(1,316		)
Recoveries of loans previously charged off	92			—			—			297			24			—			413
Balance, end of period	$	9,047		$	11,958		$	1,963		$	5,334		$	104		$	450		$	28,856
Three Months Ended June 30, 2014
Balance, beginning of period	$	6,491		$	8,554		$	622		$	3,442		$	26		$	365		$	19,500
Provision (credit) for loan losses	735			(688		)	242			1,777			8			6			2,080
Loans charged off	(316		)	—			—			(51		)	(16		)	—			(383		)
Recoveries of loans previously charged off	90			—			—			49			7			—			146
Balance, end of period	$	7,000		$	7,866		$	864		$	5,217		$	25		$	371		$	21,343
Six Months Ended June 30, 2015
Balance, beginning of period	$	7,927		$	9,418		$	1,470		$	5,808		$	75		$	111		$	24,809
Provision (credit) for loan losses	1,510			3,030			995			(39		)	138			339			5,973
Loans charged off	(551		)	(622		)	(502		)	(953		)	(169		)	—			(2,797		)
Recoveries of loans previously charged off	161			132			—			518			60			—			871
Balance, end of period	$	9,047		$	11,958		$	1,963		$	5,334		$	104		$	450		$	28,856
Six Months Ended June 30, 2014
Balance, beginning of period	$	6,396		$	8,288		$	829		$	3,394		$	29		$	247		$	19,183
Provision (credit) for loan losses	991			(422		)	35			1,801			1			124			2,530
Loans charged off	(495		)	—			—			(51		)	(20		)	—			(566		)
Recoveries of loans previously charged off	108			—			—			73			15			—			196
Balance, end of period	$	7,000		$	7,866		$	864		$	5,217		$	25		$	371		$	21,343

Summary of Allowance for Loan Losses and Impaired Loans

Further information pertaining to the allowance for loan losses and impaired loans at June 30, 2015 and December 31, 2014 follows:

(In thousands)	Residential Real Estate		Commercial Real Estate		Construction		Commercial Business		Installment and Collateral		Unallocated		Total
June 30, 2015
Allowance related to loans individually evaluated and deemed impaired	$	24	$	22	$	36	$	5	$	—	$	—	$	87
Allowance related to loans collectively evaluated and not deemed impaired	9,023		11,936		1,927		5,329		104		450		28,769
Allowance related to loans acquired with deteriorated credit quality	—		—		—		—		—		—		—
Total allowance for loan losses	$	9,047	$	11,958	$	1,963	$	5,334	$	104	$	450	$	28,856
Loans deemed impaired	$	18,138	$	17,525	$	3,733	$	6,934	$	28	$	—	$	46,358
Loans not deemed impaired	1,483,675		1,742,052		161,004		626,015		5,178		—		4,017,924
Loans acquired with deteriorated credit quality	—		4,174		2,031		1,580		—		—		7,785
Total loans	$	1,501,813	$	1,763,751	$	166,768	$	634,529	$	5,206	$	—	$	4,072,067
December 31, 2014
Allowance related to loans individually evaluated and deemed impaired	$	28	$	316	$	33	$	882	$	—	$	—	$	1,259
Allowance related to loans collectively evaluated and not deemed impaired	7,899		9,102		1,437		4,710		75		111		23,334
Allowance related to loans acquired with deteriorated credit quality	—		—		—		216		—		—		216
Total allowance for loan losses	$	7,927	$	9,418	$	1,470	$	5,808	$	75	$	111	$	24,809
Loans deemed impaired	$	15,981	$	19,514	$	2,610	$	5,846	$	46	$	—	$	43,997
Loans not deemed impaired	1,397,758		1,654,917		180,548		604,055		5,706		—		3,842,984
Loans acquired with deteriorated credit quality	—		4,505		2,685		3,695		—		—		10,885
Total loans	$	1,413,739	$	1,678,936	$	185,843	$	613,596	$	5,752	$	—	$	3,897,866

Summary of Past Due and Non-Accrual Loans

The following is a summary of past due and non-accrual loans at June 30, 2015 and December 31, 2014, including purchased credit impaired loans:

(In thousands)	30-59 Days Past Due		60-89 Days Past Due		Past Due 90 Days or More		Total Past Due		Past Due 90 Days or More and Still Accruing		Loans on Non-accrual
June 30, 2015
Real estate loans:
Residential	$	1,994	$	2,223	$	7,835	$	12,052	$	307	$	16,996
Commercial	2,323		2,762		7,510		12,595		474		11,159
Construction	—		—		681		681		—		1,536
Commercial business loans	3,329		498		4,608		8,435		49		5,655
Installment and collateral	14		6		9		29		—		28
Total	$	7,660	$	5,489	$	20,643	$	33,792	$	830	$	35,374
December 31, 2014
Real estate loans:
Residential	$	18,913	$	3,954	$	7,320	$	30,187	$	—	$	13,972
Commercial	7,734		3,967		9,509		21,210		2,361		12,514
Construction	1,403		227		695		2,325		84		611
Commercial business loans	2,782		3,812		7,486		14,080		2,307		5,217
Installment and collateral	34		—		12		46		—		44
Total	$	30,866	$	11,960	$	25,022	$	67,848	$	4,752	$	32,358

Summary of Impaired Loans with and without Valuation Allowance

The following is a summary of impaired loans with and without a valuation allowance as of June 30, 2015 and December 31, 2014:

	June 30, 2015						December 31, 2014
(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
Impaired loans without a valuation allowance:
Real estate loans:
Residential	$	17,102	$	22,771	$	—	$	15,233	$	17,143	$	—
Commercial	16,870		22,077		—		18,408		21,202		—
Construction	3,548		2,482		—		2,384		2,441		—
Commercial business loans	6,554		17,052		—		3,804		6,129		—
Installment and collateral loans	28		41		—		46		34		—
Total	44,102		64,423		—		39,875		46,949		—
Impaired loans with a valuation allowance:
Real estate loans:
Residential	$	1,036	$	1,050	$	24	$	748	$	892	$	28
Commercial	655		655		22		1,106		1,271		316
Construction	185		185		36		226		226		33
Commercial business loans	380		475		5		2,042		2,098		882
Total	2,256		2,365		87		4,122		4,487		1,259
Total impaired loans	$	46,358	$	66,788	$	87	$	43,997	$	51,436	$	1,259

Average Recorded Investment in Impaired Loans

The following is a summary of average recorded investment in impaired loans with and without a valuation allowance and interest income recognized on those loans for the three and six months ended June 30, 2015 and 2014:

	For the Three Months   Ended June 30, 2015							For the Three Months   Ended June 30, 2014
(In thousands)	Average Recorded Investment		Interest Income Recognized			Interest Income Recognized on a Cash Basis		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized on a Cash Basis
Impaired loans without a valuation allowance:
Real estate loans:
Residential	$	16,703	$	222		$	176	$	9,677	$	92	$	77
Commercial	17,707		243			144		7,747		21		19
Construction	3,638		(3		)	19		2,809		19		13
Commercial business loans	6,557		236			110		1,210		7		6
Installment and collateral loans	29		1			1		36		—		—
Total	44,634		699			450		21,479		139		115
Impaired loans with a valuation allowance:
Real estate loans:
Residential	518		24			—		1,551		31		13
Commercial	534		2			—		—		—		—
Construction	185		13			—		—		—		—
Commercial business loans	581		(5		)	2		1,305		1		—
Total	1,818		34			2		2,856		32		13
	$	46,452	$	733		$	452	$	24,335	$	171	$	128
	For the Six Months   Ended June 30, 2015							For the Six Months   Ended June 30, 2014
(In thousands)	Average Recorded Investment		Interest Income Recognized			Interest Income Recognized on a Cash Basis		Average Recorded Investment		Interest Income Recognized		Interest Income Recognized on a Cash Basis
Impaired loans without a valuation allowance:
Real estate loans:
Residential	$	16,213	$	398		$	326	$	9,781	$	179	$	164
Commercial	17,941		534			343		7,646		62		60
Construction	3,220		45			20		2,752		34		28
Commercial business loans	5,639		299			152		1,281		19		18
Installment and collateral loans	35		1			1		33		1		—
Total	43,048		1,277			842		21,493		295		270
Impaired loans with a valuation allowance:
Real estate loans:
Residential	595		24			—		1,235		57		36
Commercial	724		7			—		—		—		—
Construction	199		13			—		—		—		—
Commercial business loans	1,068		12			8		870		6		5
Total	2,586		56			8		2,105		63		41
	$	45,634	$	1,333		$	850	$	23,598	$	358	$	311

Troubled Debt Restructurings

The following table provides detail of TDR balances for the periods presented:

(In thousands)	At June 30, 2015		At December 31, 2014
Recorded investment in TDRs:
Accrual status	$	10,985	$	11,638
Non-accrual status	5,346		4,169
Total recorded investment in TDRs	$	16,331	$	15,807
Accruing TDRs performing under modified terms more than one year	$	5,153	$	1,919
Specific reserves for TDRs included in the balance of allowance for loan losses	$	87	$	380
Additional funds committed to borrowers in TDR status	$	44	$	210

Loans Restructured as Troubled Debt Restructurings

Loans restructured as TDRs during the three and six months ended June 30, 2015 and 2014 are set forth in the following table:

	Three Months Ended					Six Months Ended
(Dollars in thousands)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
June 30, 2015
Residential real estate	16	$	2,577	$	2,574	17	$	2,652	$	2,649
Commercial real estate	2	791		791		2	791		791
Construction	2	564		564		2	564		564
Commercial business	1	548		548		2	748		748
Installment and collateral	—	—		—		—	—		—
Total troubled debt restructuring	21	$	4,480	$	4,477	23	$	4,755	$	4,752
June 30, 2014
Residential real estate	2	$	1,004	$	1,004	6	$	1,412	$	1,412
Commercial real estate	1	282		282		1	282		282
Construction	—	—		—		13	3,853		3,853
Commercial business	—	—		—		—	—		—
Installment and collateral	—	—		—		—	—		—
Total troubled debt restructuring	3	$	1,286	$	1,286	20	$	5,547	$	5,547

Summary of How Loans were Modified as TDRs

The following table provides information on loan balances modified as TDRs during the period:

	Three Months Ended June 30,
	2015										2014
(In thousands)	Extended Maturity		Adjusted Interest Rates		Adjusted Rate and Extended Maturity		Payment Deferral		Other		Extended Maturity		Adjusted Interest Rates		Payment Deferral		Other
Residential real estate	$	—	$	901	$	269	$	814	$	593	$	—	$	884	$	—	$	120
Commercial real estate	538		—		253		—		—		—		282		—		—
Construction	564		—		—		—		—		—		—		—		—
Commercial business	548		—		—		—		—		—		—		—		—
	$	1,650	$	901	$	522	$	814	$	593	$	—	$	1,166	$	—	$	120
	Six Months Ended June 30,
	2015										2014
(In thousands)	Extended Maturity		Adjusted Interest Rates		Adjusted Rate and Extended Maturity		Payment Deferral		Other		Extended Maturity		Adjusted Interest Rates		Payment Deferral		Other
Residential real estate	$	—	$	901	$	344	$	814	$	593	$	—	$	884	$	—	$	528
Commercial real estate	538		—		253		—		—		—		282		—		—
Construction	564		—		—		—		—		3,672		—		—		181
Commercial business	748		—		—		—		—		—		—		—		—
	$	1,850	$	901	$	597	$	814	$	593	$	3,672	$	1,166	—		$	709

Summary of Loans Modified as TDRs within Previous 12 Months and Payment Default

The following table provides information on loans modified as TDRs within the previous 12 months and for which there was a payment default during the periods presented:

	Six Months Ended			Six Months Ended
	June 30, 2015			June 30, 2014
(Dollars in thousands)	Number of Loans and Leases	Recorded Investment		Number of Loans and Leases	Recorded Investment
Residential real estate	3	$	591	—	$	—
Commercial real estate	6	2,113		—	—
Commercial business	—	—		1	2,610
	9	$	2,704	1	$	2,610

Summary of Mortgage Servicing Rights Activity

Mortgage servicing rights are included in other assets on the Consolidated Statements of Condition. The following table summarizes mortgage servicing rights activity for the three and six months ended June 30, 2015 and 2014. Changes in the fair value of mortgage servicing rights are included in income from mortgage banking activities in the Consolidated Statements of Operations.

	For the Three Months   Ended June 30,					For the Six Months   Ended June 30,
(In thousands)	2015		2014			2015		2014
Mortgage servicing rights:
Balance at beginning of period	$	4,921	$	4,084		$	4,729	$	4,103
Addition of Legacy United MSRs	—		764			—		764
Change in fair value recognized in net income (loss)	385		(478		)	—		(631		)
Issuances	688		184			1,265		318
Fair value of mortgage servicing rights at end of period	$	5,994	$	4,554		$	5,994	$	4,554

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Share-Based Compensation Plans - Stock Options - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to outstanding stock options	$ 405
Unrecognized cost related to outstanding stock options, period of recognition	3 years 1 month
Stock options granted	0	397,095
SAR options exercised	454,031
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SAR options exercised	398,302
Conversion of stock, shares Issued	269,179

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Financial Instruments Contract Amounts Represent Credit Risk

The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. Off-balance sheet financial instruments whose contract amounts represent credit risk are as follows at June 30, 2015 and December 31, 2014:

(In thousands)	June 30, 2015		December 31, 2014
Commitments to extend credit:
Commitment to grant loans	$	288,253	$	128,766
Undisbursed construction loans	107,922		144,118
Undisbursed home equity lines of credit	307,817		321,346
Undisbursed commercial lines of credit	308,704		295,639
Standby letters of credit	11,838		12,547
Unused checking overdraft lines of credit	1,335		1,304
Total	$	1,025,869	$	903,720

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Regulatory Matters

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Regulatory Matters

Note 11. Regulatory Matters

The Company and the Bank are subject to various regulatory capital requirements administered by Federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly, additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. The regulations require the Company and the Bank to meet specific capital guidelines that involve quantitative measures of the Company’s and the Bank’s assets, liabilities, and certain off-balance sheet items, as calculated under regulatory accounting practices. The Company’s and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. At June 30, 2015, the Bank exceeded all regulatory capital requirements and is considered “well-capitalized” under regulatory guidelines.

Basel III

In July 2013, federal banking regulators approved final rules that implement changes to the regulatory capital framework for U.S. banks. The rules set minimum requirements for both the quantity and quality of capital held by community banking institutions. The final rule includes a new minimum ratio of common equity Tier 1 capital to risk weighted assets of 4.5%, raises the minimum ratio of Tier 1 capital to risk-weighted assets from 4% to 6%, and includes a minimum leverage ratio of 4% for all banking organizations. Additionally, community banking institutions must maintain a capital conservation buffer of common equity Tier 1 capital in an amount greater than 2.5% of total risk-weighted assets to avoid being subject to limitations on capital distributions and discretionary bonus payments to executive officers. The phase-in period for the rules began for the Company on January 1, 2015, with full compliance with all of the final rules’ requirements phased in over a multi-year schedule. Management believes that the Company’s capital levels will remain characterized as “well-capitalized” under the new rules.

The following is a summary of the Company’s and the Bank’s regulatory capital amounts and ratios as of June 30, 2015 and December 31, 2014 compared to the Federal Deposit Insurance Corporation’s requirements for classification as a well-capitalized institution and for minimum capital adequacy:

	Actual				Minimum For Capital Adequacy Purposes				Minimum To Be Well-Capitalized Under Prompt Corrective Action Provisions
(Dollars in thousands)	Amount		Ratio		Amount		Ratio		Amount		Ratio
United Bank:
June 30, 2015
Total capital to risk weighted assets	$	557,550	12.6	%	$	354,563	8.0	%	$	443,203	10.0	%
Common equity tier 1 capital to risk weighted assets	527,359		11.9		199,421		4.5		288,053		6.5
Tier 1 capital to risk weighted assets	527,359		11.9		265,895		6.0		354,527		8.0
Tier 1 capital to total average assets	527,359		9.7		216,797		4.0		270,996		5.0
December 31, 2014
Total capital to risk weighted assets	$	513,960	12.9	%	$	317,750	8.0	%	$	397,187	10.0	%
Tier 1 capital to risk weighted assets	487,713		12.3		158,864		4.0		238,296		6.0
Tier 1 capital to total average assets	487,713		9.3		210,221		4.0		262,776		5.0
United Financial Bancorp, Inc.
June 30, 2015
Total capital to risk weighted assets	$	608,638	13.7	%	$	335,150	8.0	%	$	443,937	10.0	%	(1)
Common equity tier 1 capital to risk weighted assets	503,447		11.3		199,781		4.5		288,572		6.5		(1)
Tier 1 capital to risk weighted assets	503,447		11.3		266,374		6.0		355,165		8.0		(1)
Tier 1 capital to total average assets	503,447		9.3		217,003		4.0		271,254		5.0		(1)
December 31, 2014
Total capital to risk weighted assets	$	579,109	14.6	%	$	317,973	8.0	%	N/A		N/A
Tier 1 capital to risk weighted assets	477,862		12.0		159,022		4.0		N/A		N/A
Tier 1 capital to total average assets	477,862		9.1		210,049		4.0		N/A		N/A

(1) Pursuant to Basel III regulatory capital reform rules effective January 1, 2015.

Connecticut law restricts the amount of dividends that the Bank can pay the Company based on retained earnings for the current year and the preceding two years.

On May 21, 2015, the Company announced the results of the annual meeting of stockholders. The stockholders approved the amendment to the Certificate of Incorporation to increase the number of authorized shares of common stock from 60,000,000 to 120,000,000. The increase in the number of authorized shares of common stock became effective May 21, 2015.