Revenue during the quarter grew 9.42 percent to $22.09 million from $20.19 million in the previous year period. Net interest income for the quarter rose 9.96 percent over the prior year period to $19.25 million. Non-interest income for the quarter rose 9.14 percent over the last year period to $3.16 million.

First Connecticut Bancorp has made provision of $0.32 million for loan losses during the quarter, up 49.77 percent from $0.22 million in the same period last year.

Net interest margin improved 12 basis points to 2.94 percent in the quarter from 2.82 percent in the last year period. Efficiency ratio for the quarter improved to 67.85 percent from 75.19 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

"I am pleased to report record earnings for the first quarter. Our emphasis on expense management and efficiency, coupled with our asset sensitive balance sheet reflect marked improvement in our return on average assets of 0.71%, return on average equity of 7.67% and efficiency ratio of 67.85%, as compared to a year ago. Our business model remains focused on the essential banking services of taking in deposits and making loans in the communities in which we serve. The work being accomplished by our employees in producing operational efficiencies through our quality improvement initiatives is impressive." stated John J. Patrick Jr., First Connecticut Bancorp's chairman, president and chief executive officer.

Deposits stood at $2,287.85 million as on Mar. 31, 2017, up 9.06 percent compared with $2,097.83 million on Mar. 31, 2016.

Noninterest-bearing deposit liabilities were $437.38 million or 19.12 percent of total deposits on Mar. 31, 2017, compared with $396.36 million or 18.89 percent of total deposits on Mar. 31, 2016.

Investments stood at $155.86 million as on Mar. 31, 2017, up 4.85 percent or $7.22 million from year-ago. Shareholders equity was at $264.67 million as on Mar. 31, 2017.

Return on average assets moved up 17 basis points to 0.71 percent in the quarter from 0.54 percent in the last year period. At the same time, return on average equity increased 185 basis points to 7.67 percent in the quarter from 5.82 percent in the last year period.

Equity to assets ratio was 9.11 percent for the quarter, down from 9.18 percent for the previous year quarter. Average equity to average assets ratio was 9.28 percent for the quarter, up from 9.22 percent for the previous year quarter.