Rockville Financial (RCKB) in Rockville, Conn., will merge with United Financial Bancorp (UBNK) in West Springfield, Mass.

Rockville will pay $369 million in stock for United, creating a company with $4.8 billion in assets and more than 50 branches. While Rockville is issuing stock, United's shareholders will own 51% of the company when the transaction closes in mid-2014. The company, which will keep United's name and stock symbol, will be based in Glastonbury, Conn.

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