Rockville Financial, Inc. CEO Interview: William J. McGurk

• On 3:37 pm EDT, Tuesday October 6, 2009

67 WALL STREET, New York - October 6, 2009 - The Wall Street Transcript has just published its Northeast and Mid-Atlantic Regional Banks Report offering a timely review of the sector to serious investors and industry executives. This 130 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Residential Mortgage Situation -- Regional Banks Mergers and Acquisitions Timing Strategy -- Commercial Mortgage Portfolio Decay -- Timing Of Commercial Mortgage Portfolio Bad Debt Write Offs-- FDIC Hit List For Bank Closings -- Mutual Holding Company Structure -- Interest Rate Scenarios -- Banking Pricing Power -- Expensive Bank Valuations -- Tangible Book As Guide For Bank Stock Pricing -- Distressed Sales Of Community and Regional Banks -- TARP Program -- Attitude Of Institutional Investors Towards Resurgence in Community Banking -- Unique Business Models -- Regional Bank Boards Looking For Exit

Companies include: BB and T (BBT); Colonial (CNB); First Niagara (FNFG); PNC (PNC); National City (NCC-PA); Harleysville National (HNBC); Citizens First Bancorp (CTZN); Regions Financial (RF); Bank of America (BAC); SunTrust Banks (STI); Pinnacle Financial (PNFP); Northwest Bancorp Inc. (NWSB); Beneficial (BNCL); Investor Savings Bancorp (ISBC); Territorial Bancorp (TBNK); FNB Bancorp (FNBG.OB); National Penn (NPBC); Trustco Bank (TRST); KeyBank (KEY); M and T Bank (MTB); New York Community Bancorp (NYB); Bank of New York Mellon (BK); Wells Fargo and Company (WFC); JPMorgan Chase and Co. (JPM); Wachovia (WB); Harleysville Savings Bank (HARL); SVB Financial (SIVB); Signature Bank (SBNY); Provident Bank (PBKS); Valley National Bank (VLY); Community Bank System (CBU); NBT Bankcorp (NBTB); Fulton (FULT); Citibank ©; Allied Irish (AIB); Bank of Hawaii (BOH); First Horizon Bank (FHN); Comerica (CMA); Synovus (SNV); Zions (ZION); South Financial Group (TSFG); Bancorp (TBBK); Legg Mason (LM); IBERIABANK Corp. (IBKC); Wilmington Trust (WL); S and T Bancorp (STBA); PHH (PHH); Goldman Sachs (GS); Citigroup ©; U.S. Bancorp (USB); Fifth Third Bancorp (FITB); KeyCorp (KEY); Lehman Brothers; Colonial; Washington Mutual; TD Banknorth (TD), Lakeland (LBAI), Westfield Financial, Inc. (WFD), United Financial Bancorp, Inc. (UBNK), Chicopee Bancorp, Inc. (CBNK)

In the following brief excerpt from the 130 page , William J. McGurk, CEO of Rockville Bank, discusses the outlook for the sector and for investors.

William J. McGurk has served as President and Chief Executive Officer of Rockville Bank since 1980. Previously he served as Vice President, Treasurer and Chief Executive Officer of the Clinton Savings Bank and Vice President of City Savings Bank of Pittsfield. In 2005 Mr. McGurk was nominated by Connecticut Governor Jodi Rell and confirmed by the Connecticut State Legislature as a member of the State of Connecticut Community College board of trustees. He currently serves as Audit Chairman for the state-wide system. Mr. McGurk is a past Chairman of the Bankers Advisory Board of the Conference of State Bank Supervisors and a past President of the Connecticut Community Bankers Association. In addition to being an Honorary Trustee of the New England College of Finance and a recipient of their McLaughlin Award, he has served as a member of the board of the Bank Marketing Association, New England Chapter. Mr. McGurk has also held numerous leadership roles as a member of the Manchester Community College Foundation, the Tolland County Chamber of Commerce and Rotary International, among others. His many accolades include the William J. McGurk Award for Volunteer Excellence from the Rockville Downtown Association, the Distinguished Service Award from the Rockville Rotary and the Businessperson of the Year award from the South Windsor Chamber of Commerce. A graduate of Holy Cross College, Mr. McGurk received his MBA from the University of Massachusetts.

TWST: Let's begin with a brief summary and background sketch of Rockville, and then bring us up to date.

Mr. McGurk: Just this morning I attended a seminar with about 15 other bank CEOs and with the Commissioner of Banks and the Connecticut Banker's Association. Rockville Bank is 150 years old. We are a community bank. I've been with the bank since 1980, when it was at about $90 million in assets. Now we are at about $1.6 billion. Our foundation has been superior customer service. We are not in the big cities.

TWST: I am in Orlando.

Mr. McGurk: Orlando, that's a big city. Rockville is not. We are definitely in the suburbs. The largest populated town is probably about 50,000. We have branches in two towns of about 50,000. I know almost every banker in Connecticut - it's a small state - and community banks are doing very well. The competitive landscape is tough among the community banks. Deposits are not a problem. Getting good quality loans has been a bit of a challenge. We have had very good asset quality. One of the steps we took recently was to reassign three people into a special assets group. Delinquencies have gone up just a little bit. We currently have two properties in foreclosure, and we have a few more in the pipeline. In 2008 we had 48 that went legal, but after you send them to an attorney, they usually find the money. We have 21.5 branches. Two weeks ago we opened a branch in a local high school, so that's the half.

The Wall Street Transcript is a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs and research analysts. This 130 page special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online .

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