Special to The Observer
West Springfield, Mass.-based United Financial Bancorp Inc., parent of United Bank, plans to close three branches in Connecticut, including an office in the Terryville section of Plymouth and one of its two in Southington.
The bank will close its branch at 98 Main St. in Southington and consolidate it into its remaining Southington branch at 158 North Main St., after briefly closing the North Main Street branch for renovations, said Dena M. Hall, the bank’s senior vice president of marketing and community relations and expansion.
The North Main Street branch is less than a half-mile from the 98 Main St. location, Hall said.
The bank will also close its branch in East Windsor, she said. The three Connecticut branches are expected to be shuttered by May 31.
Customer accounts at the Terryville branch have been transferred to the bank’s office on Farmington Avenue in Bristol, which is about 5 miles from the Terryville branch, Hall said.
The three branches scheduled to close were part of United Financial’s $91 million acquisition last fall of Enfield-based New England Bancshares, parent of New England Bank.
The closings will leave United Bank with 16 branch offices and two express drive-up branches in the Springfield area; seven branches in the Worcester area in central Massachusetts; and 12 branches in Connecticut, including two in Bristol and single branches in Cheshire and Southington. The bank also operates loan production offices in Beverly, Mass., and Glastonbury.
The bank has about $2.4 billion in total assets.
“The decision to close and consolidate these branch locations followed a thorough review of our branch operations and is based primarily on improving the efficiency of our branch network while maintaining convenient banking locations for our customers,” said Richard B. Collins, president and CEO of both the bank and its holding company. “We remain strongly committed to our new Connecticut Region and to providing Connecticut customers with the excellent level of service for which United Bank has become known.”
United Financial is a publicly owned company. Its common shares are traded on the Nasdaq Global Select Market under the symbol UBNK.