Business & Tech

Farmington Bank Parent Announces First Quarter Earnings

First Connecticut Bancorp, Inc. posted close to $1 million in profits.

First Connecticut Bancorp, Inc. (the "Company") NASDAQ Global Market: "FBNK," the holding company for Farmington Bank (the "Bank"), today announced first quarter results for the period ended March 31, 2012. Net income for the quarter was $991,000, or $0.06 per diluted share, compared to net income of $1.0 million for the same quarter last year.

"We are pleased with the results of the first quarter of 2012 and our third quarter as a public company as our strategy to pursue organic growth opportunities led to an 8% increase in net interest income compared to the same period a year ago. Our new Wethersfield office celebrated its grand opening during the quarter and had $18.2 million in new deposits as of March 31, 2012, of which 92% were core deposits and included 592 new transaction accounts," stated John J. Patrick, Jr., First Connecticut Bancorp's Chairman, President & CEO.

Mr. Patrick said, "Our strategic geographic expansion will continue with the planned opening of our 18th branch in Bloomfield, Connecticut during the second quarter of 2012. Progress on our goal of being the bank of choice for consumers and businesses in central Connecticut is evident from our balance sheet growth, and our significant market share gains in mortgage and business banking."

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About First Connecticut Bancorp, Inc.

First Connecticut Bancorp, Inc. (Nasdaq:FBNK) is a Maryland-chartered stock holding company, that wholly owns Farmington Bank. Farmington Bank is a full-service, community bank with 17 branch locations throughout central Connecticut. Established in 1851, Farmington Bank is a diversified consumer and commercial bank with an ongoing commitment to contribute to the betterment of the communities in our region. For more information regarding the Bank's products and services and for First Connecticut Bancorp, Inc. investor relations information, please visit www.farmingtonbankct.com.

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Submitted by First Connecticut Bancorp, Inc.


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