Exhibit 99.1

First Connecticut Bancorp, Inc. reports third quarter 2014 earnings of $0.17 earnings per share

FARMINGTON, Conn., October 23, 2014 – First Connecticut Bancorp, Inc. (the “Company”) (NASDAQ: FBNK), the holding company for Farmington Bank (the “Bank”), reported net income of $2.5 million, or $0.17 diluted earnings per share for the quarter ended September 30, 2014 compared to net income of $2.2 million, or $0.14 diluted earnings per share in the linked quarter.  Diluted earnings per share were $0.06 for the third quarter of 2013.

“We continue to be pleased with our earnings growth, which is a direct result of our organic growth strategy.  We continue to focus on our long term objective of growing tangible book value for shareholders,” stated John J. Patrick Jr., First Connecticut Bancorp’s Chairman, President & CEO.

“Our recent expansion into western Massachusetts enables us to grow the franchise organically and provides us the opportunity to expand our role as a vital and active participant in the communities we serve.”

Financial Highlights

·   Net interest income increased $421,000 to $16.0 million in the third quarter of 2014 compared to $15.6 million in the linked quarter and increased $2.7 million or 20% compared to third quarter of 2013.

·   Strong organic loan growth continued during the quarter as total loans increased $101.5 million to $2.0 billion at September 30, 2014 and increased $319.6 million or 19% from a year ago.

·   Noninterest expense to average assets was 2.46% in the third quarter of 2014 compared to 2.60% in the linked quarter and 2.95% in the third quarter of 2013.

·   Tangible book value per share grew to $14.56 compared to $14.39 on a linked quarter basis and $13.88 at September 30, 2013.

·   Checking accounts grew by 3.3% or 1,419 net new accounts in the third quarter of 2014.

·   Asset quality remains stable as loan delinquencies 30 days and greater remained flat at 0.78% of total loans at September 30, 2014 and June 30, 2014 and improved from 0.87% of total loans at September 30, 2013.  Non-accrual loans represented 0.76% of total loans compared to 0.75% of total loans on a linked quarter basis and improved from 0.80% of total loans at September 30, 2013.

·   The allowance for loan losses represented 0.91% of total loans at September 30, 2014 compared to 0.92% at June 30, 2014 and 1.02% at September 30, 2013.

·   The Company paid a cash dividend of $0.05 per share on September 15, 2014, an increase of $0.01 compared to the linked quarter. This marks the twelfth consecutive quarter the Company has paid a dividend since it became a public company on June 29, 2011.

Third quarter 2014 compared with second quarter 2014

Net interest income

·   Net interest income increased $421,000 to $16.0 million in the third quarter of 2014 compared to the linked quarter due primarily to an $88.7 million increase in the average net loan balance offset by an 11 basis point decrease in the net interest rate spread to 2.77%.

·   Net interest margin decreased to 2.89% in the third quarter of 2014 compared to 3.01% in the second quarter of 2014.  Excluding prepayment penalty fee income, second quarter net interest margin would have been 2.97%.

·   The cost of interest-bearing liabilities increased to 59 basis points in the third quarter of 2014 compared to 57 basis points in the second quarter of 2014.

Provision for loan losses

·   Provision for loan losses was $1.0 million for the third quarter of 2014 compared to $410,000 for the linked quarter.  The increase in the third quarter 2014 provision was primarily due to an increase in loan growth and the composition of new loan originations.

·   Net charge-offs in the quarter were $397,000 or 0.08% to average loans (annualized) compared to $129,000 or 0.03% to average loans (annualized) in the linked quarter.

·   The allowance for loan losses represented 0.91% of total loans at September 30, 2014 compared to 0.92% at June 30, 2014.

Noninterest income

·   Total noninterest income increased $712,000 to $2.8 million in the third quarter of 2014 compared to the linked quarter due to a $316,000 increase in net gain on loans sold, $142,000 increase in fees for customer services and a $253,000 increase in other income related to swap fees and mortgage banking derivatives.

Noninterest expense

·   Noninterest expense remained flat in the third quarter of 2014 at $14.2 million compared to the linked quarter.  Marketing expenses decreased $177,000 due to seasonal sponsorships offset by increases in occupancy expense and other operating expenses.

Income tax expense

·   Income tax expense was $997,000 in the third quarter of 2014 compared to $776,000 in the linked quarter.

Third quarter 2014 compared with third quarter 2013

Net interest income

·   Net interest income increased $2.7 million or 20% to $16.0 million compared to $13.3 million in the third quarter of 2013 primarily due to a $329.9 million increase in the average net loan balance despite a 12 basis point decrease in the yield on loans.

·   Net interest margin decreased to 2.89% in the third quarter of 2014 compared to 2.94% in the third quarter of 2013.

·   The cost of interest-bearing liabilities declined 14 basis points to 59 basis points in the third quarter of 2014 compared to 73 basis points in the third quarter of 2013.  The decline was primarily due to a 9 basis point decrease in certificates of deposit and a 135 basis point decrease in Federal Home Loan Bank of Boston advance costs due to an increase in short-term advances which carry lower rates.

Provision for loan losses

·   Provision for loan losses was $1.0 million for the third quarter of 2014 compared to $215,000 for the prior year quarter.  The increase in the third quarter 2014 provision was primarily due to the composition of new loan originations.

·   Net charge-offs in the quarter were $397,000 or 0.08% to average loans (annualized) compared to $42,000 or 0.01% to average loans (annualized) in the prior year quarter.

·   The allowance for loan losses represented 0.91% of total loans at September 30, 2014 compared to 1.02% at September 30, 2013.

Noninterest income

·   Total noninterest income increased $596,000 to $2.8 million compared to the prior year quarter primarily due to a $230,000 increase in fees for customer services and a $671,000 increase in other income offset by a $304,000 decrease in gain on sale of investments.  Other income increased $671,000 primarily due to swap fees and mortgage banking derivatives.  There were no sales of investments in the third quarter of 2014.

Noninterest expense

·   Noninterest expense increased $109,000 to $14.2 million in the third quarter of 2014 compared to the prior year quarter.

Income tax expense

·   Income tax expense was $997,000 in the third quarter of 2014 compared to $275,000 in the prior year quarter.

Financial Condition

·   Total assets increased $403.2 million or 20% at September 30, 2014 to $2.4 billion compared to $2.0 billion at September 30, 2013 largely reflecting an increase in loans and securities.

·   Our investment portfolio totaled $207.1 million at September 30, 2014 compared to $123.4 million at September 30, 2013, an increase of $83.8 million.

·   Net loans increased $319.3 million at September 30, 2014 to $2.0 billion compared to $1.7 billion at September 30, 2013 due to our continued focus on commercial and residential lending, which combined, increased $329.5 million.

·   Deposits increased $177.4 million at September 30, 2014 to $1.7 billion compared to $1.6 billion at September 30, 2013, due to increases in municipal deposits, noninterest-bearing deposits and de novo branch openings as we continue to develop and grow relationships in the geographical areas we serve.

·   Federal Home Loan Bank of Boston advances increased $200.7 million to $304.7 million at September 30, 2014 compared to $104.0 million at September 30, 2013.  Advances were used to support loan and securities growth.

Asset Quality

·   At September 30, 2014, the allowance for loan losses represented 0.91% of total loans and 119.91% of non-accrual loans, compared to 1.02% of total loans and 127.30% of non-accrual loans at September 30, 2013.

·   Loan delinquencies 30 days and greater decreased to 0.78% of total loans at September 30, 2014 compared to 0.87% of total loans at September 30, 2013.

·   Non-accrual loans represented 0.76% of total loans at September 30, 2014 compared to 0.80% of total loans at September 30, 2013.

·   Net charge-offs in the quarter were $397,000 or 0.08% to average loans (annualized) compared to $42,000 or 0.01% to average loans (annualized) in the prior year quarter.

Capital and Liquidity

·   The Company remained well-capitalized with an estimated total capital to risk-weighted asset ratio of 14.11% at September 30, 2014.

·   Tangible book value per share grew to $14.56 compared to $14.39 on a linked quarter basis and $13.88 at the quarter ended September 30, 2013.

·   During the third quarter of 2014, the Company repurchased 2,500 shares of common stock at an average price per share of $14.54 at a total cost of $36,000.  Repurchased shares are held as treasury stock and will be available for general corporate purposes.  The Company has 921,477 shares remaining to repurchase at September 30, 2014 from prior regulatory approval.

·   At September 30, 2014, the Company continued to have adequate liquidity including significant unused borrowing capacity at the Federal Home Loan Bank of Boston and the Federal Reserve Bank, as well as access to funding through brokered deposits.

About First Connecticut Bancorp, Inc.

First Connecticut Bancorp, Inc. (NASDAQ: FBNK) is a Maryland-chartered stock holding company that wholly owns Farmington Bank. Farmington Bank is a full-service, community bank with 22 branch locations throughout central Connecticut, offering commercial and residential lending as well as wealth management services in Connecticut and western Massachusetts. Established in 1851, Farmington Bank is a diversified consumer and commercial bank with an ongoing commitment to contribute to the betterment of the communities in our region. For more information regarding the Bank’s products and services and for First Connecticut Bancorp, Inc. investor relations information, please visit  www.farmingtonbankct.com.

Conference Call

First Connecticut will host a conference call on Thursday, October 23, 2014 at 9:30am Eastern Time to discuss third quarter results.  Those wishing to participate in the call may dial-in to the call at 1-888-336-7151.  The international dial-in number is 1-412-902-4177.  A webcast of the call will be available on the Investor Relations Section of the Farmington Bank website for an extended period of time.

Forward Looking Statements

In addition to historical information, this earnings release may contain forward-looking statements for purposes of applicable securities laws. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking statements may or may not include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements are subject to numerous assumptions, risks and uncertainties. There are a number of important factors described in documents previously filed by the Company with the Securities and Exchange Commission, and other factors that could cause the Company's actual results to differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

Non-GAAP Financial Measures

In addition to evaluating the Company’s financial performance in accordance with U.S. generally accepted accounting principles (“GAAP”), management routinely supplements their evaluation with an analysis of certain non-GAAP financial measures, such as core net income, the efficiency ratio and tangible book value per share. A reconciliation to the most directly comparable GAAP financial measure; net income in the case of core net income and the efficiency ratio and stockholders’ equity in the case of tangible book value per share, appears in tabular form in the accompanying Reconciliation of Non-GAAP Financial Measures table.

We believe that providing certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, our performance trends and financial position. Specifically, we provide measures based on what we believe are our operating earnings on a consistent basis and exclude non-core operating items which affect the GAAP reporting of results of operations. The Company believes that core net income is useful for both investors and management to understand the effects of items that are non-recurring and infrequent in nature. The Company believes that the efficiency ratio, which measures the costs expended to generate a dollar of revenue, is useful in the assessment of financial performance, including non-interest expense control. The Company believes that tangible book value per share is useful to evaluate the relative strength of the Company’s capital position. The Company does not have goodwill and intangible assets for any of the periods presented. As such, tangible book value per common share is equal to book value per common share.

    We utilize these measures for internal planning and forecasting purposes. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures and results, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure.

First Connecticut Bancorp, Inc.

Selected Financial Data (Unaudited)

		At or for the Three Months Ended
	September 30,				June 30,			March 31,			December 31,				September 30,
(Dollars in thousands, except per share data)		2014			2014			2014				2013				2013
Selected Financial Condition Data:
Total assets		$	2,395,674		$	2,267,709		$	2,181,759			$	2,110,028			$	1,992,517
Cash and cash equivalents			43,914			50,778			44,110				38,799				50,323
Securities held-to-maturity, at amortized cost			12,439			12,715			12,872				12,983				3,002
Securities available-for-sale, at fair value			194,706			160,784			163,232				150,886				120,382
Federal Home Loan Bank of Boston stock, at cost			17,724			17,724			13,137				13,136				8,383
Loans, net			2,031,780			1,930,502			1,854,497				1,800,987				1,712,507
Deposits			1,727,994			1,630,779			1,634,400				1,513,501				1,550,627
Federal Home Loan Bank of Boston advances			304,700			291,000			206,000				259,000				104,000
Total stockholders' equity			233,646			231,269			230,488				232,209				227,864
Allowance for loan losses			18,556			17,912			17,631				18,314				17,678
Non-accrual loans			15,475			14,652			12,974				14,800				13,887
Impaired loans			39,579			41,891			41,782				39,623				42,587
Loan delinquencies 30 days and greater			15,922			15,257			14,882				15,511				15,032
Selected Operating Data:
Interest income		$	18,528		$	17,854		$	16,980			$	16,697			$	15,806
Interest expense			2,543			2,290			2,230				2,366				2,523
Net interest income			15,985			15,564			14,750				14,331				13,283
Provision for loan losses			1,041			410			505				660				215
Net interest income after provision for loan losses			14,944			15,154			14,245				13,671				13,068
Noninterest income			2,778			2,066			1,762				2,183				2,182
Noninterest expense			14,219			14,254			13,960				14,398				14,110
Income before income taxes			3,503			2,966			2,047				1,456				1,140
Income tax expense			997			776			555				322				275
Net income		$	2,506		$	2,190		$	1,492			$	1,134			$	865
Performance Ratios (annualized):
Return on average assets			0.43	%		0.40	%		0.28	%			0.22	%			0.18	%
Return on average equity			4.27	%		3.77	%		2.56	%			1.96	%			1.49	%
Interest rate spread (1)			2.77	%		2.88	%		2.86	%			2.80	%			2.77	%
Net interest rate margin (2)			2.89	%		3.01	%		2.99	%			2.94	%			2.94	%
Non-interest expense to average assets			2.46	%		2.60	%		2.63	%			2.80	%			2.95	%
Efficiency ratio (3)			75.78	%		80.85	%		84.54	%			87.19	%			91.24	%
Average interest-earning assets to average
interest-bearing liabilities			127.11	%		128.04	%		128.59	%			129.64	%			130.77	%
Asset Quality Ratios:
Allowance for loan losses as a percent of total loans			0.91	%		0.92	%		0.94	%			1.01	%			1.02	%
Allowance for loan losses as a percent of
non-accrual loans			119.91	%		122.25	%		135.89	%			123.74	%			127.30	%
Net charge-offs to average loans (annualized)			0.08	%		0.03	%		0.26	%			0.01	%			0.01	%
Non-accrual loans as a percent of total loans			0.76	%		0.75	%		0.69	%			0.81	%			0.80	%
Non-accrual loans as a percent of total assets			0.65	%		0.65	%		0.59	%			0.70	%			0.70	%
Loan delinquencies 30 days and greater as a
percent of total loans			0.78	%		0.78	%		0.80	%			0.85	%			0.87	%
Per Share Related Data:
Basic earnings per share		$	0.17		$	0.15		$	0.10			$	0.07			$	0.06
Diluted earnings per share		$	0.17		$	0.14		$	0.10			$	0.07			$	0.06
Dividends declared per share		$	0.05		$	0.04		$	0.03			$	0.03			$	0.03
Tangible book value (4)		$	14.56		$	14.39		$	14.22			$	14.11			$	13.88
Common stock shares outstanding			16,043,031			16,072,637			16,203,933				16,457,642				16,416,427
(1) Represents the difference between the weighted-average yield on average interest-earning assets and the weighted-average cost of interest-bearing liabilities.
(2) Represents net interest income as a percent of average interest-earning assets.
(3) Represents noninterest expense divided by the sum of net interest income and noninterest income, adjusted for non-recurring items.
See "Reconciliation of Non-GAAP Financial Measures" table.
(4) Represents ending stockholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights) divided by ending common shares outstanding.
The Company does not have goodwill and intangible assets for any of the periods presented. See "Reconciliation of Non-GAAP Financial Measures" table.

First Connecticut Bancorp, Inc.

Selected Financial Data (Unaudited)

		At or for the Three Months Ended
	September 30,				June 30,			March 31,			December 31,				September 30,
(Dollars in thousands)		2014			2014			2014				2013				2013
Capital Ratios:
Equity to total assets at end of period			9.75	%		10.20	%		10.56	%			11.01	%			11.44	%
Average equity to average assets			10.13	%		10.59	%		10.99	%			11.23	%			12.11	%
Total capital to risk-weighted assets			14.11	% *		14.56	%		15.05	%			15.50	%			16.13	%
Tier I capital to risk-weighted assets			13.06	% *		13.51	%		13.97	%			14.36	%			14.97	%
Tier I capital to total average assets			10.24	% *		10.70	%		11.02	%			11.47	%			12.20	%
Total equity to total average assets			10.09	%		10.54	%		10.85	%			11.30	%			11.90	%
* Estimated
Loans and Allowance for Loan Losses:
Real estate
Residential		$	789,166		$	749,124		$	716,836			$	693,046			$	674,804
Commercial			717,399			686,299			677,948				633,764				585,628
Construction			80,242			69,047			69,476				78,191				90,033
Installment			3,524			3,850			4,109				4,516				4,671
Commercial			289,708			277,483			244,075				252,032				213,103
Collateral			1,826			1,480			1,455				1,600				1,819
Home equity line of credit			163,608			156,625			153,619				151,606				147,026
Demand			-			-			124				85				-
Revolving credit			97			75			80				94				78
Resort			1,019			1,068			1,124				1,374				9,849
Total loans			2,046,589			1,945,051			1,868,846				1,816,308				1,727,011
Less:
Allowance for loan losses			(18,556	)		(17,912	)		(17,631	)			(18,314	)			(17,678	)
Net deferred loan costs			3,747			3,363			3,282				2,993				3,174
Loans, net		$	2,031,780		$	1,930,502		$	1,854,497			$	1,800,987			$	1,712,507
Deposits:
Noninterest-bearing demand deposits		$	323,499		$	315,916		$	303,966			$	308,459			$	278,275
Interest-bearing
NOW accounts			454,650			377,570			368,700				285,392				339,350
Money market			417,498			401,694			427,535				387,225				386,682
Savings accounts			200,501			202,970			199,532				193,937				187,040
Time deposits			331,846			332,629			334,667				338,488				359,280
Total interest-bearing deposits			1,404,495			1,314,863			1,330,434				1,205,042				1,272,352
Total deposits		$	1,727,994		$	1,630,779		$	1,634,400			$	1,513,501			$	1,550,627

First Connecticut Bancorp, Inc.

Consolidated Statements of Condition (Unaudited)

	September 30,				June 30,			December 31,
		2014			2014				2013
(Dollars in thousands)
Assets
Cash and cash equivalents		$	43,914		$	50,778			$	38,799
Securities held-to-maturity, at amortized cost			12,439			12,715				12,983
Securities available-for-sale, at fair value			194,706			160,784				150,886
Loans held for sale			5,533			4,576				3,186
Loans, net			2,031,780			1,930,502				1,800,987
Premises and equipment, net			19,384			20,072				20,619
Federal Home Loan Bank of Boston stock, at cost			17,724			17,724				13,136
Accrued income receivable			5,331			5,133				4,917
Bank-owned life insurance			39,403			39,120				38,556
Deferred income taxes			14,529			14,756				14,884
Prepaid expenses and other assets			10,931			11,549				11,075
Total assets		$	2,395,674		$	2,267,709			$	2,110,028
Liabilities and Stockholders' Equity
Deposits
Interest-bearing		$	1,404,495		$	1,314,863			$	1,205,042
Noninterest-bearing			323,499			315,916				308,459
			1,727,994			1,630,779				1,513,501
Federal Home Loan Bank of Boston advances			304,700			291,000				259,000
Repurchase agreement borrowings			21,000			21,000				21,000
Repurchase liabilities			73,855			55,326				50,816
Accrued expenses and other liabilities			34,479			38,335				33,502
Total liabilities			2,162,028			2,036,440				1,877,819
Stockholders' Equity
Common stock			181			181				181
Additional paid-in-capital			177,937			177,431				175,766
Unallocated common stock held by ESOP			(12,949	)		(13,218	)			(13,747	)
Treasury stock, at cost			(28,585	)		(28,577	)			(22,599	)
Retained earnings			101,089			99,386				96,832
Accumulated other comprehensive loss			(4,027	)		(3,934	)			(4,224	)
Total stockholders' equity			233,646			231,269				232,209
Total liabilities and stockholders' equity		$	2,395,674		$	2,267,709			$	2,110,028

First Connecticut Bancorp, Inc.

Consolidated Statements of Income (Unaudited)

		Three Months Ended								Nine Months Ended
	September 30,			June 30,		September 30,				September 30,
(Dollars in thousands, except per share data)		2014		2014			2013			2014		2013
Interest income
Interest and fees on loans
Mortgage		$	14,490	$	13,875		$	12,381		$	41,793	$	35,721
Other			3,608		3,573			3,199			10,389		9,746
Interest and dividends on investments
United States Government and agency obligations			258		218			103			665		344
Other bonds			57		81			59			196		177
Corporate stocks			109		105			62			307		188
Other interest income			6		2			2			12		13
Total interest income			18,528		17,854			15,806			53,362		46,189
Interest expense
Deposits			1,845		1,711			1,914			5,250		5,446
Interest on borrowed funds			479		368			383			1,166		1,253
Interest on repo borrowings			182		179			181			538		532
Interest on repurchase liabilities			37		32			45			109		136
Total interest expense			2,543		2,290			2,523			7,063		7,367
Net interest income			15,985		15,564			13,283			46,299		38,822
Provision for loan losses			1,041		410			215			1,956		870
Net interest income
after provision for loan losses			14,944		15,154			13,068			44,343		37,952
Noninterest income
Fees for customer services			1,459		1,317			1,229			3,967		3,308
Gain on sale of investments			-		-			304			-		340
Net gain on loans sold			633		317			625			1,072		4,244
Brokerage and insurance fee income			47		49			37			140		110
Bank owned life insurance income			284		281			303			847		1,015
Other			355		102			(316	)		580		(188	)
Total noninterest income			2,778		2,066			2,182			6,606		8,829
Noninterest expense
Salaries and employee benefits			8,593		8,638			8,571			25,519		26,160
Occupancy expense			1,271		1,209			1,175			3,829		3,541
Furniture and equipment expense			1,093		1,106			998			3,217		3,115
FDIC assessment			361		321			341			1,010		943
Marketing			332		509			423			1,219		1,627
Other operating expenses			2,569		2,471			2,602			7,639		7,978
Total noninterest expense			14,219		14,254			14,110			42,433		43,364
Income before income taxes			3,503		2,966			1,140			8,516		3,417
Income tax expense			997		776			275			2,328		847
Net income		$	2,506	$	2,190		$	865		$	6,188	$	2,570
Earnings per share:
Basic		$	0.17	$	0.15		$	0.06		$	0.41	$	0.16
Diluted			0.17		0.14			0.06			0.41		0.16
Weighted average shares outstanding:
Basic			14,613,115		14,601,416			14,947,576			14,677,650		15,372,552
Diluted			14,710,880		14,707,472			14,947,576			14,778,961		15,372,552

First Connecticut Bancorp, Inc.

Consolidated Average Balances, Yields and Rates (Unaudited)

	For The Three Months Ended
	September 30, 2014			June 30, 2014			September 30, 2013
	Average Balance	Interest and Dividends	Yield/ Cost	Average Balance	Interest and Dividends	Yield/ Cost	Average Balance	Interest and Dividends	Yield/ Cost
(Dollars in thousands)
Interest-earning assets:
Loans, net	$  1,978,854	$      18,098	3.63%	$ 1,890,132	$      17,448	3.70%	$ 1,648,948	$      15,580	3.75%
Securities	189,246	369	0.77%	167,250	355	0.85%	131,602	216	0.65%
Federal Home Loan Bank of Boston stock	17,724	55	1.23%	14,744	49	1.33%	8,383	8	0.38%
Federal funds and other earning assets	4,918	6	0.48%	3,567	2	0.22%	3,288	2	0.24%
Total interest-earning assets	2,190,742	18,528	3.36%	2,075,693	17,854	3.45%	1,792,221	15,806	3.50%
Noninterest-earning assets	124,823			118,056			122,886
Total assets	$  2,315,565			$ 2,193,749			$ 1,915,107
Interest-bearing liabilities:
NOW accounts	$     436,303	$           313	0.28%	$    332,597	$           185	0.22%	$    303,882	$           180	0.24%
Money market	406,293	748	0.73%	414,774	754	0.73%	371,614	794	0.85%
Savings accounts	199,505	57	0.11%	204,217	42	0.08%	185,732	79	0.17%
Certificates of deposit	330,496	727	0.87%	335,391	730	0.87%	356,994	861	0.96%
Total interest-bearing deposits	1,372,597	1,845	0.53%	1,286,979	1,711	0.53%	1,218,222	1,914	0.62%
Advances from the Federal Home Loan Bank	270,250	479	0.70%	259,980	368	0.57%	74,101	383	2.05%
Repurchase agreement borrowings	21,000	182	3.44%	21,000	179	3.42%	21,000	181	3.42%
Repurchase liabilities	59,624	37	0.25%	53,159	32	0.24%	57,187	45	0.31%
Total interest-bearing liabilities	1,723,471	2,543	0.59%	1,621,118	2,290	0.57%	1,370,510	2,523	0.73%
Noninterest-bearing deposits	321,008			303,473			272,621
Other noninterest-bearing liabilities	36,482			36,891			39,772
Total liabilities	2,080,961			1,961,482			1,682,903
Stockholders' equity	234,604			232,267			232,204
Total liabilities and stockholders' equity	$  2,315,565			$ 2,193,749			$ 1,915,107
Net interest income		$      15,985			$      15,564			$      13,283
Net interest rate spread (1)			2.77%			2.88%			2.77%
Net interest-earning assets (2)	$     467,271			$    454,575			$    421,711
Net interest margin (3)			2.89%			3.01%			2.94%
Average interest-earning assets to average interest-bearing liabilities
		127.11%			128.04%			130.77%
(1) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost
of average interest-bearing liabilities.
(2) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(3) Net interest margin represents net interest income divided by average total interest-earning assets.

First Connecticut Bancorp, Inc.

Consolidated Average Balances, Yields and Rates (Unaudited)

	For The Nine Months Ended September 30,
	2014								2013
	Average Balance		Interest and Dividends			Yield/Cost			Average Balance		Interest and Dividends			Yield/Cost
(Dollars in thousands)
Interest-earning assets:
Loans, net	$	1,896,768	$	52,182			3.68	%	$	1,583,569	$	45,467			3.84	%
Securities		172,491		1,026			0.80	%		124,429		684			0.73	%
Federal Home Loan Bank of Boston stock		15,218		142			1.25	%		8,524		25			0.39	%
Federal funds and other earning assets		3,913		12			0.41	%		9,513		13			0.18	%
Total interest-earning assets		2,088,390		53,362			3.42	%		1,726,035		46,189			3.58	%
Noninterest-earning assets		123,580								121,784
Total assets	$	2,211,970							$	1,847,819
Interest-bearing liabilities:
NOW accounts	$	374,084	$	695			0.25	%	$	268,483	$	466			0.23	%
Money market		410,066		2,186			0.71	%		354,291		2,105			0.79	%
Savings accounts		198,978		154			0.10	%		180,490		237			0.18	%
Certificates of deposit		334,037		2,215			0.89	%		355,934		2,638			0.99	%
Total interest-bearing deposits		1,317,165		5,250			0.53	%		1,159,198		5,446			0.63	%
Federal Home Loan Bank of Boston advances		237,576		1,166			0.66	%		74,386		1,253			2.25	%
Repurchase agreement borrowings		21,000		538			3.43	%		21,000		532			3.39	%
Repurchase liabilities		57,984		109			0.25	%		53,106		136			0.34	%
Total interest-bearing liabilities		1,633,725		7,063			0.58	%		1,307,690		7,367			0.75	%
Noninterest-bearing deposits		308,112								256,830
Other noninterest-bearing liabilities		36,664								45,876
Total liabilities		1,978,501								1,610,396
Stockholders' equity		233,469								237,423
Total liabilities and stockholders' equity	$	2,211,970							$	1,847,819
Net interest income			$	46,299							$	38,822
Net interest rate spread (1)							2.84	%							2.83	%
Net interest-earning assets (2)	$	454,665							$	418,345
Net interest margin (3)							2.96	%							3.01	%
Average interest-earning assets to average interest-bearing liabilities
				127.83	%							131.99	%
(1) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
(2) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(3) Net interest margin represents net interest income divided by average total interest-earning assets.

First Connecticut Bancorp, Inc.

Reconcilliation of Non-GAAP Financial Measures (Unaudited)

The table below presents a reconciliation of non-GAAP financial measures with financial measures defined by GAAP for the three months ended September 30, 2014, June 30, 2014, March 31, 2014, December 31, 2013 and September 30, 2013.  The Company believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Company.

		At or for the Three Months Ended
	September 30,				June 30,			March 31,			December 31,				September 30,
(Dollars in thousands, except per share data)		2014			2014			2014				2013				2013
Net Income		$	2,506		$	2,190		$	1,492			$	1,134			$	865
Adjustments:
Less: Prepayment penalty fees			-			(185	)		-				(144	)			-
Less: Net gain on sales of investments			-			-			-				-				(304	)
Total core adjustments before taxes			-			(185	)		-				(144	)			(304	)
Tax benefit - 34% rate			-			63			-				49				103
Total core adjustments after taxes			-			(122	)		-				(95	)			(201	)
Total core net income		$	2,506		$	2,068		$	1,492			$	1,039			$	664
Total net interest income		$	15,985		$	15,564		$	14,750			$	14,331			$	13,283
Less: Prepayment penalty fees			-			(185	)		-				(144	)			-
Total core net interest income		$	15,985		$	15,379		$	14,750			$	14,187			$	13,283
Total noninterest income		$	2,778		$	2,066		$	1,762			$	2,183			$	2,182
Less: Net gain on sales of investments			-			-			-				-				(304	)
Total core noninterest income		$	2,778		$	2,066		$	1,762			$	2,183			$	1,878
Total noninterest expense		$	14,219		$	14,254		$	13,960			$	14,398			$	14,110
Total core noninterest expense		$	14,219		$	14,254		$	13,960			$	14,398			$	14,110
Core earnings per common share, diluted		$	0.17		$	0.14		$	0.10			$	0.07			$	0.04
Core return on assets (annualized)			0.43	%		0.38	%		0.28	%			0.20	%			0.14	%
Core return on equity (annualized)			4.27	%		3.56	%		2.56	%			1.80	%			1.14	%
Efficiency ratio (1)			75.78	%		81.71	%		84.54	%			87.95	%			93.07	%
Tangible book value (2)		$	14.56		$	14.39		$	14.22			$	14.11			$	13.88
(1) Represents core noninterest expense divided by the sum of core net interest income and core noninterest income.
(2) Represents ending stockholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights) divided by ending common shares outstanding.
The Company does not have goodwill and intangible assets for any of the periods presented.