April 16, 2010
Loans, Assets Fall For United Financial
By Brandon Butler
United Financial Bancorp, which purchased Worcester's Commonwealth National Bank last year, reported a slight drop in quarterly income as loans for the bank decreased.
Net income fell for United from $2.1 million in the fourth quarter of 2009 to $1.8 million in the first quarter of 2010.
Total assets for the bank dropped about 1.8 percent to $1.5 billion. Overall, loans in the bank also fell by about 1.9 percent, but those losses were offset by a 2.5 percent increase in deposits.
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