United Financial Bancorp, Inc. (NASDAQ:UBNK) Files An 8-K Regulation FD Disclosure
On July 15, 2019, United Financial Bancorp, Inc. (United Financial) issued a press release of Peoples United Financial, Inc. (Peoples United) announcing the execution of the Agreement and Plan of Merger, dated as of July 15, 2019 (the Merger Agreement), by and between United Financial and Peoples United to which, on the terms and subject to the conditions set forth therein, United Financial will merge with and into Peoples United, with Peoples United as the surviving corporation in the merger. A copy of the Peoples United press release is attached as Exhibit 99.1 to this report.
In light of United Financials entry into the Merger Agreement, United Financial has cancelled its conference call to discuss its second quarter 2019 results previously scheduled for Wednesday, July 17, 2019, at 10:00 am Eastern Time (ET). United Financial intends to issue a press release detailing its second quarter 2019 results on Tuesday, July 16, 2019. The press release will be available at United Financials website at http://www.unitedfinancialinc.com/.
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, Peoples Uniteds and United Financials expectations or predictions of future financial or business performance or conditions. Forward-looking statements are typically identified by words such as believe, expect, anticipate, intend, target, estimate, continue, positions, plan, predict, project, forecast, guidance, goal, objective, prospects, possible or potential, by future conditional verbs such as assume, will, would, should, could or may, or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time, are difficult to predict and are generally beyond the control of either company. Forward-looking statements speak only as of the date they are made and we assume no duty to update forward-looking statements. Actual results may differ materially from current projections.
In addition to factors previously disclosed in Peoples Uniteds and United Financials reports filed with the Securities and Exchange Commission (SEC) and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate any definitive merger agreement between Peoples United and United Financial; the outcome of any legal proceedings that may be instituted against Peoples United or United Financial; the ability to obtain regulatory approvals and meet other closing conditions to the merger, including the risk that approval by United Financial shareholders is not obtained, and the risk that regulatory approvals required for the merger are not obtained or are obtained subject to conditions that are not anticipated; delay in closing the merger; difficulties and delays in integrating the United Financial business or fully realizing cost savings and other benefits; business disruption following the merger; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customer acceptance of Peoples Uniteds products and services; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with mergers, acquisitions and divestitures; economic conditions; the impact, extent and timing of technological changes and capital management activities; litigation; increased capital requirements, other regulatory requirements or enhanced regulatory supervision; and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms.