GLASTONBURY, Conn., Sept. 28, 2017 (GLOBE NEWSWIRE) -- United Financial Bancorp, Inc. (“United Financial” or the "Company”) (NASDAQ:UBNK), the holding company for United Bank (the "Bank”), announced today they have been named by FORTUNE magazine to their 31st annual list of 100 Fastest Growing Companies.
FORTUNE ranked United Financial #39 out of the 100 fastest growing companies who made this year’s list. According to FORTUNE’s list, United is also the only Connecticut-based, publicly-traded company to make the 2017 list.
FORTUNE made the announcement on September 11, 2017 and it’s the Company’s first year on the list. Joining United Financial are other publicly-traded financial institutions as well as companies representing the fields of technology, healthcare, industrials, business services and more. United Financial was also listed among the top newcomers in 2017.
According to FORTUNE, to qualify, a company – domestic or foreign – must be trading on a U.S. stock exchange; report data in U.S. dollars; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and a stock price of at least $5.00 on June 30, 2017; and have been trading continuously since June 30, 2014. In addition, companies must have revenue and net income for the four quarters ended on or before April 30, 2017, of at least $50 million and $10 million, respectively, and have posted an annualized growth in revenue and earnings per share of at least 15% over the three years ended on or before April 30, 2017.
Companies that meet these criteria are ranked by revenue growth rate, EPS growth rate and 3-year annualized total return for the period ended June 30, 2017. The overall rank is based on sum of the three ranks.
“United Bank employees and our Board of Directors are very honored to be included on a such a coveted list that includes some of the world’s most recognizable brands and successful companies,” said William H.W. Crawford, IV, Chief Executive Officer. “Although this accolade is defined by our success in delivering strong financial performance, it’s also a clear reflection of our focus on doing more business with existing customers and winning new customers at United Bank. I would like to thank the entire United Bank team for their enduring and unwavering commitment to serving our customers and our communities.”
To view the entire list and see where United Bank ranks, please visit click here: http://fortune.com/100-fastest-growing-companies/.
About United Financial Bancorp, Inc.
United Financial Bancorp, Inc. is the holding company for United Bank, a full service financial services firm offering a complete line of commercial, business, and consumer banking products and services to customers throughout Connecticut and Massachusetts. United Bank is a leading New England bank with more than 50 branches in two states and several commercial and residential loan production offices. United Financial Bancorp, Inc. trades on the NASDAQ Global Select Stock Exchange under the ticker symbol “UBNK”.
Forward Looking Statements
This press release may contain certain forward-looking statements about the Company. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and its subsidiaries are engaged.
Adam J. Jeamel
Head of Corporate Communications
Source:United Financial Bancorp, Inc.