Rockville Financial, Inc. and United Financial Bancorp, Inc. announced signing a definitive merger agreement in a stock-for-stock transaction. The new company will be managed by a 20-person Board of Directors, comprised of an equal number of directors of both the companies. The Chief Executive Officer will be Rockville's William Crawford, IV and United's Jeffrey Sullivan will serve as president, and Rockville's Eric Newell will be chief financial officer.

Further, Chairman of the Board will be Robert Stewart, Jr. and Raymond Lefurge, Jr. will be named as vice chairman of the Board. In addition, United's Richard Collins will retire and provide consulting services for one year.