Exhibit 99.1

INVESTOR CONTACT:

Marliese L. Shaw
Vice President, Investor Relations Officer
(860) 291-3622

MEDIA CONTACT:

Laura Soll
Public Relations
(860) 688-4499
(860) 833-4466 cell

FOR IMMEDIATE RELEASE

Rockville Financial, Inc.
Announces Record Net Income for Third Quarter 2011
Net Income up 25% over Third Quarter 2010

ROCKVILLE, Conn., October 31, 2011 — Rockville Financial, Inc. (the “Company”) (NASDAQ Global Select Stock Market: “RCKB”), the holding company for Rockville Bank (the “Bank”), today announced third quarter 2011 net income of $4.1 million, or $0.14 per diluted share, compared to third quarter 2010 net income of $3.3 million, or $0.12 per diluted share. This increase resulted from continued organic growth during the third quarter 2011, together with the Company’s previously communicated balance sheet restructure.

Third Quarter Highlights

	•		Year-over-year net interest income growth of 13.4% to $15.4 million due to average loan growth and decreased funding costs.
	•		Strengthened management team across a number of lines and responsibilities to better position the Company for balance sheet growth and to meet evolving regulatory requirements.
	•		Recruited the former NewAlliance Bank’s heads of C&I lending, Commercial Real Estate lending and Cash Management/Treasury services along with five commercial relationship managers doubling the Company’s customer facing commercial banking staff.
	•		Received regulatory approval for New Haven County Commercial Banking Office.

RCKB — Rockville Financial, Inc.		Page 1		www.rockvillebank.com

Operating Results

The Company reported record quarterly net income of $4.1 million for the three-month period ended September 30, 2011, or $0.14 per diluted share, compared to net income of $3.3 million, or $0.12 per diluted share, for the three-month period ended September 30, 2010. Increased net income for the third quarter 2011 included a $1.8 million, or 31.8%, decline in interest expense; a $548,000, or 42.1%, decline in provision for loan loss expense; a $496,000, or 99.6% decline in other real estate owned expense; and a $435,000, or 107.1%, decline in FDIC assessment expense. These expense declines were partially offset by a $1.1 million, or 21.5%, increase in salary and benefits expense related to increased staffing in the risk management, information technology, finance, branch administration and commercial banking areas as the Company prepares to prudently leverage capital and accelerate growth.

For the nine-month period ended September 30, 2011, net income was $3.1 million, or $0.11 per diluted share. Net income in 2011 declined $6.5 million as compared to the year-to-date period ended September 30, 2010 primarily due to the balance sheet restructure executed in the second quarter of 2011, whereby the Company paid down $122.2 million of Federal Home Loan Bank Advances with a weighted average cost of 4.17% incurring a debt extinguishment expense of $8.9 million, pre-tax. Furthermore, a $3.7 million, or 25.6%, increase in salary and benefits expense from additions to the Company’s management team and a one-time contribution to the Rockville Bank Charitable Foundation, Inc. of $5.0 million, pre-tax, also contributed to the year-to-date expense increase. Included in the $3.7 million increase in nine-month salary and benefits expense is the recognition of $830,000 of retirement expenses to a former executive and $220,000 of other contractual payments.

Net Interest Income Increases

Net interest income increased 13.4% to $15.4 million in the third quarter of 2011 from $13.6 million in the comparable 2010 period. The net interest margin increased 17 basis points to 3.70% for the third quarter of 2011 from the comparable period in 2010, and increased by 62 basis points from 3.08% in the quarter ended June 30, 2011. The cost of interest bearing deposits decreased 10 basis points to 1.03% in the third quarter of 2011 from the comparable 2010 period, while the cost of interest bearing liabilities decreased 46 basis points to 1.28% over the same time period, reflective of the Company’s focus on decreasing the cost of funds. For the first nine months of 2011, net interest income increased 6.0% to $42.5 million from $40.1 million in the first nine months of 2010. The net interest margin decreased 24 basis points to 3.29% for the first nine months of 2011 from the comparable 2010 period.

Provision For Loan Losses Declines

The provision for loan losses declined $548,000, or 42.1%, to $754,000 for the three months ended September 30, 2011 compared to $1.3 million for the comparable 2010 period. For the nine months ending September 30, 2011, the provision for loan losses declined $854,000, or 27.4%, to $2.3 million from $3.1 million for the comparable 2010 period due to the disposition of various non-performing loans. Provision expense continues to be assessed in correlation with the Company’s loan growth and risk management enhancements.

RCKB — Rockville Financial, Inc.		Page 2		www.rockvillebank.com

Non-Interest Income and Expense

Non-interest income decreased $534,000, or 19.4%, to $2.2 million during the third quarter of 2011 in comparison to the third quarter of 2010. The decline is due to the $427,000 decrease in service charges and fees related primarily to lower loan fee income generated by Rockville Bank Mortgage, Inc. as a result of the slowing residential loan demand together with the $264,000 decline in income realized on the sale of residential mortgages to the secondary market. Non-interest income increased $4.9 million to $11.7 million during the nine month period ended September 30, 2011 in comparison to the nine month period ended September 30, 2010. The year-to-date increase is attributed to realized securities gains totaling $6.2 million from the sale of common and preferred stock in the second quarter 2011, partially offset by the declines in service charges and fees and gains from sales of loans totaling $1.1 million.

Non-interest expense increased $720,000, or 7.3%, to $10.6 million for the three months ended September 30, 2011 compared to $9.9 million for the comparable 2010 period. During the three month period, salary and benefits expense increased $1.1 million compared to the prior year period related to staffing increases noted above. Full-time equivalent employees increased to 261 at September 30, 2011 from 236 at December 31, 2010. Non-interest expense as a percentage of average assets decreased to 2.44% in the third quarter 2011 from 2.46% in the third quarter 2010. Non-interest expense increased $18.3 million, or 63.5%, to $47.2 million for the nine months ended September 30, 2011 compared to $28.9 million for the comparable 2010 period. Of the $18.3 million year-to-date increase, 81.5% is related to items previously discussed under operating results.

Organic Growth Continues

The Company’s total assets increased $72.1 million, or 4.3%, to $1.75 billion at September 30, 2011 from December 31, 2010. The increase is attributed to an $8.1 million increase in cash and cash equivalents, a $6.0 million increase in investment securities, a $35.0 million increase in net loans and a $20.3 million increase in the cash surrender value of Bank-Owned Life Insurance (BOLI). The growth was funded primarily with the proceeds received from additional deposits of $78.3 million.

Average net loans increased $22.4 million to $1.45 billion for the quarter ended September 30, 2011 from $1.42 billion for the quarter ended June 30, 2011. The average loan yield also increased by 2 basis points to 4.93% for the third quarter 2011 from 4.91% for the second quarter 2011.

Average total deposits increased $13.3 million to $1.28 billion for the quarter ended September 30, 2011 from $1.27 billion for the quarter ended June 30, 2011. The average deposit cost decreased by 2 basis points to 0.89% for the third quarter 2011 from 0.91% for the second quarter 2011. Average core deposits increased by $17.3 million to $726.8 million for the quarter ended September 30, 2011 from $709.5 million for the quarter ended June 30, 2011, while average time deposits decreased $4.0 million during the same time period.

RCKB — Rockville Financial, Inc.		Page 3		www.rockvillebank.com

Asset Quality

Non-performing assets increased $888,000 to $14.2 million at September 30, 2011 from $13.4 million at December 31, 2010. The ratio of non-performing assets to total assets increased 1 basis point to 0.81% at September 30, 2011 from 0.80% at December 31, 2010. Loans on non-accrual increased $1.5 million to $13.9 million at September 30, 2011 from $12.4 million at December 31, 2010. Included in non-accrual loans are troubled debt restructurings. Troubled debt restructurings increased $714,000 to $2.4 million at September 30, 2011 from $1.7 million at December 31, 2010. The ratio of non-performing loans to total loans increased 8 basis points to 0.95% at September 30, 2011 from 0.87% at December 31, 2010.

Capital Management

The Company has paid dividends for 21 consecutive quarters. The dividend payout ratio for the quarter ended September 30, 2011 was 51%.

Management Comments

“I am pleased to announce that Rockville Financial, Inc. delivered record quarterly earnings and that the Company continues to enjoy excellent asset quality,” stated William (Bill) H. W. Crawford, IV, President and Chief Executive Officer (CEO). “The expansion of the commercial banking team, including the recruitment of eight talented and dedicated commercial bankers with a total of 192 years of experience serving business customers in Connecticut and New England, adds to my optimism for the Company’s future. In addition to the commercial team expansion, the infrastructure investment in risk management, information technology, finance and branch administration have prepared the Company to prudently leverage capital and accelerate growth. The Company remains committed to superior customer service, providing shareholder value and being Connecticut’s Best Community Bank.”

About Rockville Financial, Inc.

Rockville Financial, Inc. is the parent of Rockville Bank, which is a 22 branch community bank serving Tolland, Hartford and New London counties in Connecticut. A New Haven County Commercial Banking Office is now open and located in Hamden, Connecticut to provide an array of commercial products and services for businesses located in New Haven County and surrounding areas. For more information about Rockville Bank’s services and products, call (860) 291-3600 or visit www.rockvillebank.com. For more information about the Company visit www.rockvillebank.com and click on About Us: Investor Relations.

Note that share amounts related to periods prior to the date of completion of the conversion (March 3, 2011) have been restated to give retroactive recognition to the exchange ratio applied in the conversion (1.5167).

RCKB — Rockville Financial, Inc.		Page 4		www.rockvillebank.com

Investor Call

Rockville Financial, Inc. is hosting a conference call on Monday, October 31, 2011 at 1:00 p.m. Eastern Time to discuss the Company’s third quarter financial results. Those wishing to participate in the call may dial toll-free 1-877-317-6789. A replay of the call will be available on October 31, 2011 by dialing 1-877-344-7529, Conference ID # 10006044, and will be available through November 8, 2011.

Forward Looking Statements

This press release may contain certain forward-looking statements about the Company. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often 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, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and its subsidiaries are engaged.

RCKB — Rockville Financial, Inc.		Page 5		www.rockvillebank.com

Rockville Financial, Inc. and Subsidiaries
Consolidated Statements of Condition
(In Thousands, Except Share Amounts)
(Unaudited)

		September 30,				December 31,
		2011				2010
ASSETS
CASH AND CASH EQUIVALENTS:
Cash and due from banks		$	68,487			$	16,692
Short-term investments			312				44,016
Total cash and cash equivalents			68,799				60,708
AVAILABLE FOR SALE SECURITIES-At fair value			134,642				125,447
HELD TO MATURITY SECURITIES-At amortized cost			10,504				13,679
LOANS HELD FOR SALE			2,081				380
LOANS RECEIVABLE (Net of allowance for loan losses of $15,527 in 2011 and $14,312 in 2010)			1,445,492				1,410,498
FEDERAL HOME LOAN BANK STOCK, at cost			17,007				17,007
ACCRUED INTEREST RECEIVABLE			4,084				4,176
DEFERRED TAX ASSET-Net			7,494				11,327
PREMISES AND EQUIPMENT-Net			15,500				14,912
GOODWILL			1,149				1,149
CASH SURRENDER VALUE OF BANK-OWNED LIFE INSURANCE			30,790				10,459
OTHER REAL ESTATE OWNED			303				990
CURRENT FEDERAL TAX RECEIVABLE			5,378				—
PREPAID FDIC ASSESSMENTS			3,260				3,875
OTHER ASSETS			3,696				3,466
		$	1,750,179			$	1,678,073
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES:
DEPOSITS:
Non-interest-bearing		$	181,637			$	168,736
Interest-bearing			1,115,926				1,050,524
Total deposits			1,297,563				1,219,260
MORTGAGORS’ AND INVESTORS’ ESCROW ACCOUNTS			3,106				6,131
ADVANCES FROM THE FEDERAL HOME LOAN BANK			94,887				261,423
AVAILABLE FOR SALE SECURITIES PAYABLE			—				10,534
ACCRUED EXPENSES AND OTHER LIABILITIES			19,267				14,297
TOTAL LIABILITIES			1,414,823				1,511,645
COMMITMENTS AND CONTINGENCIES STOCKHOLDERS’ EQUITY:
Preferred stock (no par value; 2,000,000 and 1,000,000 shares authorized; no shares issued and outstanding)			—				—
Common stock (no par value; 60,000,000 shares authorized; 29,515,482 and 19,551,057 shares issued and 29,515,482 and 18,863,375 outstanding at September 30, 2011 and December 31, 2010, respectively)			243,776				85,249
Additional paid-in capital			15,068				4,789
Unearned compensation — ESOP			(9,741	)			(3,478	)
Treasury stock, at cost (1,043,007 shares at December 31, 2010)			—				(9,495	)
Retained earnings			88,687				90,645
Accumulated other comprehensive loss, net of tax			(2,434	)			(1,282	)
TOTAL STOCKHOLDERS’ EQUITY			335,356				166,428
		$	1,750,179			$	1,678,073

Rockville Financial, Inc. and Subsidiaries
Consolidated Statements of Income
(In Thousands, Except Share Data)
(Unaudited)

		For the Three Months								For the Nine Months
		Ended September 30,								Ended September 30,
		2011				2010				2011				2010
INTEREST AND DIVIDEND INCOME:
Loans		$	17,828			$	17,833			$	52,844			$	52,831
Securities-interest			1,244				1,118				3,579				3,460
Securities-dividends			45				117				324				335
Interest-bearing deposits			8				1				39				4
Total interest and dividend income			19,125				19,069				56,786				56,630
INTEREST EXPENSE:
Deposits			2,862				2,815				8,670				8,668
Borrowed funds			899				2,701				5,587				7,852
Total interest expense			3,761				5,516				14,257				16,520
Net interest income			15,364				13,553				42,529				40,110
PROVISION FOR LOAN LOSSES			754				1,302				2,260				3,114
Net interest income after provision for loan losses			14,610				12,251				40,269				36,996
NON-INTEREST INCOME:
Total other-than-temporary impairment losses on equity securities			—				—				(29	)			—
Service charges and fees			1,521				1,948				4,799				5,182
Net gain from sales of securities			74				2				6,275				190
Net gain from sales of loans			405				669				464				1,192
Other income			212				127				210				234
Total non-interest income			2,212				2,746				11,719				6,798
NON-INTEREST EXPENSE:
Salaries and employee benefits			6,023				4,958				18,307				14,579
Service bureau fees			1,110				1,020				3,297				3,006
Occupancy and equipment			1,097				1,056				3,363				3,238
Professional fees			725				378				1,907				1,136
Marketing and promotions			202				247				967				918
FDIC assessments			(29	)			406				991				1,207
Other real estate owned			2				498				76				965
Contribution to Rockville Bank Foundation, Inc.			—				—				5,043				—
Loss on extinguishment of debt			—				—				8,914				—
Other			1,466				1,313				4,383				3,854
Total non-interest expense			10,596				9,876				47,248				28,903
INCOME BEFORE INCOME TAXES			6,226				5,121				4,740				14,891
INCOME TAX PROVISION			2,143				1,862				1,636				5,314
NET INCOME		$	4,083			$	3,259			$	3,104			$	9,577
										(Continued)

Rockville Financial, Inc. and Subsidiaries
Consolidated Statements of Income — Concluded
(In Thousands, Except Share Data)
(Unaudited)

		For the Three Months								For the Nine Months
		Ended September 30,								Ended September 30,
		2011				2010				2011				2010
Net income per share:
Basic		$	0.14			$	0.12			$	0.11			$	0.34
Diluted		$	0.14			$	0.12			$	0.11			$	0.34
Weighted-average shares outstanding:
Basic			28,913,173				28,122,154				28,952,796				28,100,661
Diluted			29,035,511				28,151,889				29,036,136				28,122,256