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Mergers & Acquisitions

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Deal Overview

Rockville Financial, Inc.
Actual Acquirer:
Rockville Financial, Inc.
United Financial Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Common Stock ($M) 345.8
Common Stock Issued 26,706,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 119.7 113.7
Price / Tangible Book (%) 140.3 132.7
Price / Earnings (x) 48.5 20.9
Price / Deposits (%) 19.05 18.10
Price / Assets (%) 14.88 14.32
Tangible Book Premium/ Deposits (%) 7.21 NA
Deal Terms
Description of Consideration

Rockville Financial Inc. exchanged 1.3472 shares of its common stock for each share of United Financial Bancorp Inc. common stock. Rockville Financial Inc. also assumed subordinated debt of United Financial Bancorp.

Accounting Method Acquisition
In-State Transaction? No
Merger of Equals? Yes
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 114,211
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 34,000
Maximum Termination Fee ($ 000) 15,000
Minimum Termination Fee ($ 000) 0
Exchange Ratio (Common For Common) 1.347200
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 10,585
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes RBC Capital Markets LLC
Seller Yes Sterne Agee & Leach Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Hinckley Allen & Snyder LLP
Seller Yes Kilpatrick Townsend & Stockton