----

----

----

----

| x | Quarterly Report- Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|---|----------------------------------------------------------------------------------------------------|

| o | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|---|-----------------------------------------------------------------------------------------------|

----

----

| Maryland                                                      |   | 45-1496206                             |
|---------------------------------------------------------------|--------|----------------------------------------|
| (State or other jurisdiction ofincorporation or organization) |   | (I.R.S. EmployerIdentification Number) |
|                                                          |   |
| One Farm Glen Boulevard, Farmington, CT                       |   | 06032                                  |
| (Address of Principal Executive Offices)                      |   | (Zip Code)                             |

----

|                              |   |   |         |                                |   |   |
|-----------------------------------|--------|--------|--------------|-------------------------------------|--------|--------|
| Large accelerated filer |   | o      |    | Accelerated filer              |   | o      |
|                              |   |   |         |
| Non-accelerated filer             |   | x      |    | Smaller reporting company |   | o      |

----

|                          |                                                                                                        |   |
|-------------------------------|-------------------------------------------------------------------------------------------------------------|--------|
|                          |                                                                                                        | Page   |
|                          |                                                                                                        |
| Part I. Financial Information |                                                                                                        |
|                          |                                                                                                        |   |
| Item 1.                       | Consolidated Financial Statements                                                                           |   |
|                          |                                                                                                        |   |
|                          | Consolidated Statements of Condition at March 31, 2011 (unaudited) and December 31, 2010                    | 1      |
|                          |                                                                                                        |   |
|                          | Consolidated Statements of Income for the three months ended March 31, 2011 and 2010(unaudited)             | 2      |
|                          |                                                                                                        |   |
|                          | Consolidated Statement of Changes in Capital Accounts for the three months ended March 31, 2011 (unaudited) | 3      |
|                          |                                                                                                        |   |
|                          | Consolidated Statements of Cash Flows for the three months ended March 31, 2011 and 2010 (unaudited)        | 4      |
|                          |                                                                                                        |   |
|                          | Notes to Unaudited Consolidated Financial Statements                                                        | 5      |
|                          |                                                                                                        |   |
| Item 2.                       | Management’s Discussion and Analysis of Financial Condition and Results of Operations                 | 34     |
|                          |                                                                                                        |   |
| Item 3.                       | Quantitative and Qualitative Disclosures About Market Risk                                                  | 49     |
|                          |                                                                                                        |   |
| Item 4.                       | Controls and Procedures                                                                                     | 50     |
|                          |                                                                                                        |   |
| Part II. Other Information    |                                                                                                        |
|                          |                                                                                                        |   |
| Item 1.                       | Legal Proceedings                                                                                           | 50     |
|                          |                                                                                                        |   |
| Item1A.                       | Risk Factors                                                                                                | 50     |
|                          |                                                                                                        |   |
| Item 2.                       | Unregistered Sales of Equity Securities and Use of Proceeds                                                 | 50     |
|                          |                                                                                                        |   |
| Item 3.                       | Defaults Upon Senior Securities                                                                             | 50     |
|                          |                                                                                                        |   |
| Item 4.                       | (Removed and Reserved)                                                                                      | 50     |
|                          |                                                                                                        |   |
| Item 5.                       | Other Information                                                                                           | 50     |
|                          |                                                                                                        |   |
| Item 6.                       | Exhibits                                                                                                    | 51     |
|                          |                                                                                                        |   |
| Signatures                    | 52                                                                                                          |
|                          |                                                                                                        |   |
| Exhibit 31.1                  | 53                                                                                                          |
| Exhibit 31.2                  | 54                                                                                                          |
| Exhibit 32.1                  | 55                                                                                                          |
| Exhibit 32.2                  | 56                                                                                                          |

----

----

|                                            |   | March 31,   |      |   | December 31, |   |
|-------------------------------------------------|--------|-------------|-----------|--------|--------------|--------|
|                                            |   | 2011        |      |   | 2010         |   |
| (Dollars in thousands)                          |   | (Unaudited) |      |   |         |   |
| Assets                                          |   |        |      |   |         |   |
| Cash and due from banks                         |   | $           | 25,465    |   |         | $      | 18,608 |   |
| Federal funds sold                              |   |        | 50,000    |   |         |   | - |   |
| Cash and cash equivalents                       |   |        | 75,465    |   |         |   | 18,608 |   |
| Securities held-to-maturity, at amortized cost  |   |        | 3,672     |   |         |   | 3,672 |   |
| Securities available-for-sale, at fair value    |   |        | 142,548   |   |         |   | 163,008 |   |
| Loans held for sale                             |   |        | 378       |   |         |   | 862 |   |
| Loans, net                                      |   |        | 1,157,835 |   |         |   | 1,157,917 |   |
| Premises and equipment, net                     |   |        | 21,741    |   |         |   | 21,907 |   |
| Federal Home Loan Bank of Boston stock, at cost |   |        | 7,449     |   |         |   | 7,449 |   |
| Accrued income receivable                       |   |        | 4,154     |   |         |   | 4,227 |   |
| Bank-owned life insurance                       |   |        | 19,830    |   |         |   | 19,657 |   |
| Deferred income taxes                           |   |        | 11,424    |   |         |   | 11,408 |   |
| Prepaid expenses and other assets               |   |        | 10,143    |   |         |   | 7,915 |   |
| Total assets                                    |   | $           | 1,454,639 |   |         | $      | 1,416,630 |   |
| Liabilities and Capital Accounts                |   |        |      |   |         |   |   |   |
| Deposits                                        |   |        |      |   |         |   |   |   |
| Interest-bearing                                |   | $           | 1,003,655 |   |         | $      | 958,319 |   |
| Noninterest-bearing                             |   |        | 161,300   |   |         |   | 150,186 |   |
|                                            |   |        | 1,164,955 |   |         |   | 1,108,505 |   |
| FHLB advances                                   |   |        | 68,000    |   |         |   | 71,000 |   |
| Repurchase agreement borrowings                 |   |        | 21,000    |   |         |   | 21,000 |   |
| Mortgagors’ escrow accounts               |   |        | 6,541     |   |         |   | 9,717 |   |
| Repurchase liabilities                          |   |        | 70,209    |   |         |   | 84,029 |   |
| Accrued expenses and other liabilities          |   |        | 27,957    |   |         |   | 27,386 |   |
| Total liabilities                               |   |        | 1,358,662 |   |         |   | 1,321,637 |   |
|                                            |   |        |      |   |         |   |   |   |
| Commitments and contingencies                   |   |        | -         |   |         |   | - |   |
|                                            |   |        |      |   |         |   |   |   |
| Capital accounts                                |   |        |      |   |         |   |   |   |
| Undivided profits                               |   |        | 98,529    |   |         |   | 97,513 |   |
| Accumulated other comprehensive loss            |   |        | (2,552    | )      |         |   | (2,520 | ) |
| Total capital accounts                          |   |        | 95,977    |   |         |   | 94,993 |   |
| Total liabilities and capital accounts          |   | $           | 1,454,639 |   |         | $      | 1,416,630 |   |

----

----

|                                                |   | Three Months Ended |   |
|-----------------------------------------------------|--------|--------------------|--------|
|                                                |   | March 31,          |   |
|                                                |   | 2011               |   |   | 2010 |   |
| (Dollars in thousands)                              |   |               |   |   |   |   |
| Interest income                                     |   |               |   |   |   |   |
| Interest and fees on loans                          |   |               |   |   |   |   |
| Mortgage                                            |   | $                  | 10,548 |   |   | $ | 10,377 |   |
| Other                                               |   |               | 3,612  |   |   |   | 3,193 |   |
| Interest and dividends on investments               |   |               |   |   |   |   |   |   |
| United States Government and agency obligations     |   |               | 435    |   |   |   | 1,316 |   |
| Other bonds                                         |   |               | 52     |   |   |   | 57 |   |
| Corporate stocks                                    |   |               | 67     |   |   |   | 96 |   |
| Other interest income                               |   |               | 17     |   |   |   | 10 |   |
| Total interest income                               |   |               | 14,731 |   |   |   | 15,049 |   |
| Interest expense                                    |   |               |   |   |   |   |   |   |
| Deposits                                            |   |               | 1,952  |   |   |   | 2,139 |   |
| Interest on borrowed funds                          |   |               | 525    |   |   |   | 546 |   |
| Interest on repo borrowings                         |   |               | 179    |   |   |   | 183 |   |
| Interest on repurchase liabilities                  |   |               | 124    |   |   |   | 97 |   |
| Total interest expense                              |   |               | 2,780  |   |   |   | 2,965 |   |
| Net interest income                                 |   |               | 11,951 |   |   |   | 12,084 |   |
| Provision for allowance for loan losses             |   |               | 300    |   |   |   | 600 |   |
| Net interest income after provision for loan losses |   |               | 11,651 |   |   |   | 11,484 |   |
| Noninterest income                                  |   |               |   |   |   |   |   |   |
| Fees for customer services                          |   |               | 787    |   |   |   | 674 |   |
| Net gain on loans sold                              |   |               | 146    |   |   |   | 24 |   |
| Brokerage and insurance fee income                  |   |               | 124    |   |   |   | 107 |   |
| Bank owned life insurance income                    |   |               | 174    |   |   |   | 114 |   |
| Other                                               |   |               | 50     |   |   |   | 68 |   |
| Total noninterest income                            |   |               | 1,281  |   |   |   | 987 |   |
| Noninterest expense                                 |   |               |   |   |   |   |   |   |
| Salaries and employee benefits                      |   |               | 6,568  |   |   |   | 5,285 |   |
| Occupancy expense                                   |   |               | 1,237  |   |   |   | 1,039 |   |
| Furniture and equipment expense                     |   |               | 975    |   |   |   | 900 |   |
| FDIC assessment                                     |   |               | 541    |   |   |   | 408 |   |
| Marketing                                           |   |               | 473    |   |   |   | 489 |   |
| Other operating expenses                            |   |               | 1,867  |   |   |   | 1,530 |   |
| Total noninterest expense                           |   |               | 11,661 |   |   |   | 9,651 |   |
| Income before income taxes                          |   |               | 1,271  |   |   |   | 2,820 |   |
| Provision for income taxes                          |   |               | 255    |   |   |   | 917 |   |
| Net income                                          |   | $                  | 1,016  |   |   | $ | 1,903 |   |

----

----

|                                                                                                 |   |      |   |   | Accumulated Other           |   |              |   |   |
|------------------------------------------------------------------------------------------------------|--------|-----------|--------|--------|-----------------------------|--------|-------------------|--------|--------|
|                                                                                                 |   |      |   |   | Comprehensive (Loss) Income |   |              |   |   |
|                                                                                                 |   |      |   |   | Unrealized                  |   | Related to        |   |   |   |   |
|                                                                                                 |   |      |   |   | Gain on                     |   | Employee Benefits |   |   |   |   |
|                                                                                                 |   |      |   |   | Securities                  |   | Plans,            |   |   |   |   |
|                                                                                                 |   | Undivided |   |   | Available-                  |   | Net of            |   |   |   |   |
| For the Three Months Ended March 31, 2011                                                            |   | Profits   |   |   | for-Sale                    |   | Tax Effect        |   |   | Total |   |
| (Dollars in thousands)                                                                               |   |      |   |   |                        |   |              |   |   |   |   |   |
| Balance at December 31, 2010                                                                         |   | $         | 97,513 |   |                        | $      | 1,111             |   |   | $ | (3,631 | ) |   | $ | 94,993 |   |
| Net income                                                                                           |   |      | 1,016  |   |                        |   | -                 |   |   |   | - |   |   |   | 1,016 |   |
| Change in accumulated other comprehensive gain related to employee benefit plans, net of tax effects |   |      | -      |   |                        |   | -                 |   |   |   | 35 |   |   |   | 35 |   |
| Decrease in unrealized gain on available-for-sale securities, net of tax effects                     |   |      | -      |   |                        |   | (67               | )      |   |   | - |   |   |   | (67 | ) |
| Total comprehensive income                                                                           |   |      |   |   |                        |   |              |   |   |   |   |   |   |   | 984 |   |
| Balance at March 31, 2011                                                                            |   | $         | 98,529 |   |                        | $      | 1,044             |   |   | $ | (3,596 | ) |   | $ | 95,977 |   |

----

| First Connecticut Bancorp, Inc.                   |
|---------------------------------------------------|
| Consolidated Statements of Cash Flows (Unaudited) |
|                                              |

|                                                                                        |   | Three Months Ended |    |
|---------------------------------------------------------------------------------------------|--------|--------------------|---------|
|                                                                                        |   | March 31,          |    |
|                                                                                        |   | 2011               |    |   | 2010 |   |
| (Dollars in thousands)                                                                      |   |               |    |   |   |   |
| Cash flows from operating activities                                                        |   |               |    |   |   |   |
| Net income                                                                                  |   | $                  | 1,016   |   |   | $ | 1,903 |   |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: |   |               |    |   |   |   |   |   |
| Provision for allowance for loan losses                                                     |   |               | 300     |   |   |   | 600 |   |
| Provision for off-balance sheet commitments                                                 |   |               | 10      |   |   |   | 11 |   |
| Provision for depreciation and amortization                                                 |   |               | 777     |   |   |   | 697 |   |
| Loans originated for sale                                                                   |   |               | (7,591  | ) |   |   | (3,231 | ) |
| Proceeds from the sale of loans held for sale                                               |   |               | 7,354   |   |   |   | 3,255 |   |
| Net gain on loans sold                                                                      |   |               | (146    | ) |   |   | (24 | ) |
| Accretion and amortization of investment security discounts and premiums, net               |   |               | (42     | ) |   |   | 27 |   |
| Amortization and accretion of loan fees and discounts, net                                  |   |               | (124    | ) |   |   | (141 | ) |
| Decrease in accrued income receivable                                                       |   |               | 73      |   |   |   | 30 |   |
| Increase in cash surrender value of bank-owned life insurance                               |   |               | (173    | ) |   |   | (115 | ) |
| (Increase) decrease in prepaid expenses and other assets                                    |   |               | (2,228  | ) |   |   | 37 |   |
| Increase (decrease) in accrued expenses and other liabilities                               |   |               | 615     |   |   |   | (1,736 | ) |
| Net cash (used in) provided by operating activities                                         |   |               | (159    | ) |   |   | 1,313 |   |
| Cash flow from investing activities                                                         |   |               |    |   |   |   |   |   |
| Sales and maturities of securities available-for-sale                                       |   |               | 96,419  |   |   |   | 21,131 |   |
| Purchases of securities available-for-sale                                                  |   |               | (76,019 | ) |   |   | (17,596 | ) |
| Loan originations, net of principal repayments                                              |   |               | 773     |   |   |   | (9,846 | ) |
| Purchases of bank-owned life insurance                                                      |   |               | -       |   |   |   | (3,257 | ) |
| Purchases of premises and equipment                                                         |   |               | (611    | ) |   |   | (1,504 | ) |
| Net cash provided by (used in) investing activities                                         |   |               | 20,562  |   |   |   | (11,072 | ) |
| Cash flows from financing activities                                                        |   |               |    |   |   |   |   |   |
| Net (decrease) increase in borrowings                                                       |   |               | (3,000  | ) |   |   | 4,000 |   |
| Net increase in demand deposits, NOW accounts, savings accounts and money market accounts   |   |               | 82,979  |   |   |   | 70,754 |   |
| Net decrease in certificates of deposit                                                     |   |               | (26,529 | ) |   |   | (19,557 | ) |
| Net decrease in repurchase liabilities                                                      |   |               | (13,820 | ) |   |   | (5,435 | ) |
| Change in mortgagors’ escrow accounts                                                 |   |               | (3,176  | ) |   |   | (3,033 | ) |
| Net cash provided by financing activities                                                   |   |               | 36,454  |   |   |   | 46,729 |   |
| Net increase in cash and cash equivalents                                                   |   |               | 56,857  |   |   |   | 36,970 |   |
| Cash and cash equivalents at beginning of period                                            |   |               | 18,608  |   |   |   | 28,299 |   |
| Cash and cash equivalents at end of period                                                  |   | $                  | 75,465  |   |   | $ | 65,269 |   |
|                                                                                        |   |               |    |   |   |   |   |   |
| Supplemental disclosure of cash flow information                                            |   |               |    |   |   |   |   |   |
| Cash paid for interest                                                                      |   | $                  | 2,777   |   |   | $ | 2,769 |   |
| Cash paid for income taxes                                                                  |   |               | -       |   |   |   | 200 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

| 1. |  Nature of Operations and Basis of Presentation |
|----|------------------------------------------------------|

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

| 2. |  Investment Securities |
|----|-----------------------------|

|                                                                                                        |   | March 31, 2011 |    |
|-------------------------------------------------------------------------------------------------------------|--------|----------------|---------|
|                                                                                                        |   |           |    |   | Gross |   |   | Gross |   |   |   |   |
|                                                                                                        |   | Amortized      |    |   | Unrealized |   |   | Unrealized |   |   | Market |   |
| (Dollars in thousands)                                                                                      |   | Cost           |    |   | Gains |   |   | Losses |   |   | Value |   |
| Available-for-sale                                                                                          |   |           |    |   |   |   |   |   |   |   |   |   |
|     Debt securities:                                                                    |   |           |    |   |   |   |   |   |   |   |   |   |
| U.S. Treasury obligations                                                                                   |   | $              | 95,986  |   |   | $ | 4 |   |   | $ | (2 | ) |   | $ | 95,988 |   |
| U.S. Government agency obligations                                                                          |   |           | 11,004  |   |   |   | 40 |   |   |   | - |   |   |   | 11,044 |   |
| Government sponsored residential mortgage-backed securities                                                 |   |           | 27,115  |   |   |   | 1,614 |   |   |   | (5 | ) |   |   | 28,724 |   |
| Corporate debt securities                                                                                   |   |           | 1,000   |   |   |   | 49 |   |   |   | - |   |   |   | 1,049 |   |
| Trust preferred debt securities                                                                             |   |           | 44      |   |   |   | - |   |   |   | - |   |   |   | 44 |   |
| Preferred equity securities                                                                                 |   |           | 2,103   |   |   |   | 116 |   |   |   | (230 | ) |   |   | 1,989 |   |
| Marketable equity securities                                                                                |   |           | 398     |   |   |   | 8 |   |   |   | (2 | ) |   |   | 404 |   |
| Mutual funds                                                                                                |   |           | 3,319   |   |   |   | - |   |   |   | (13 | ) |   |   | 3,306 |   |
|             Total securities available-for-sale |   | $              | 140,969 |   |   | $ | 1,831 |   |   | $ | (252 | ) |   | $ | 142,548 |   |
| Held-to-maturity                                                                                            |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Government sponsored residential mortgage-backed securities                         |   | $              | 9       |   |   | $ | - |   |   | $ | - |   |   | $ | 9 |   |
|     Municipal debt securities                                                           |   |           | 663     |   |   |   | - |   |   |   | - |   |   |   | 663 |   |
|     Trust preferred debt security                                                       |   |           | 3,000   |   |   |   | - |   |   |   | - |   |   |   | 3,000 |   |
|           Total securities held-to-maturity               |   | $              | 3,672   |   |   | $ | - |   |   | $ | - |   |   | $ | 3,672 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                                                        |   | December 31, 2010 |    |
|-------------------------------------------------------------|--------|-------------------|---------|
|                                                        |   |              |    |   | Gross |   |   | Gross |   |   |   |   |
|                                                        |   | Amortized         |    |   | Unrealized |   |   | Unrealized |   |   | Market |   |
| (Dollars in thousands)                                      |   | Cost              |    |   | Gains |   |   | Losses |   |   | Value |   |
| Available-for-sale                                          |   |              |    |   |   |   |   |   |   |   |   |   |
| Debt securities:                                            |   |              |    |   |   |   |   |   |   |   |   |   |
| U.S. Treasury obligations                                   |   | $                 | 112,973 |   |   | $ | 2 |   |   | $ | - |   |   | $ | 112,975 |   |
| U.S. Government agency obligations                          |   |              | 11,004  |   |   |   | 76 |   |   |   | - |   |   |   | 11,080 |   |
| Government sponsored residential mortgage-backed securities |   |              | 30,516  |   |   |   | 1,780 |   |   |   | (2 | ) |   |   | 32,294 |   |
| Corporate debt securities                                   |   |              | 1,000   |   |   |   | 52 |   |   |   | - |   |   |   | 1,052 |   |
| Trust preferred debt securities                             |   |              | 44      |   |   |   | - |   |   |   | - |   |   |   | 44 |   |
| Preferred equity securities                                 |   |              | 2,110   |   |   |   | 43 |   |   |   | (293 | ) |   |   | 1,860 |   |
| Marketable equity securities                                |   |              | 398     |   |   |   | 10 |   |   |   | (2 | ) |   |   | 406 |   |
| Mutual funds                                                |   |              | 3,280   |   |   |   | 17 |   |   |   | - |   |   |   | 3,297 |   |
| Total securities available-for-sale                         |   | $                 | 161,325 |   |   | $ | 1,980 |   |   | $ | (297 | ) |   | $ | 163,008 |   |
| Held-to-maturity                                            |   |              |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Government sponsored residential mortgage-backed securities |   | $                 | 9       |   |   | $ | - |   |   | $ | - |   |   |   | 9 |   |
| Municipal debt securities                                   |   |              | 663     |   |   |   | - |   |   |   | - |   |   |   | 663 |   |
| Trust preferred debt security                               |   |              | 3,000   |   |   |   | - |   |   |   | - |   |   |   | 3,000 |   |
| Total securities held-to-maturity                           |   | $                 | 3,672   |   |   | $ | - |   |   | $ | - |   |   | $ | 3,672 |   |

|                         |   | Less than 12 Months |        |   | 12 Months or More |   |      | Total   |   |
|------------------------------|--------|---------------------|-------------|--------|-------------------|--------|-----------|---------|--------|
|                         |   |                |        |   | Gross             |   |      |    |   |   | Gross |   |   |   |   |   | Gross |   |
|                         |   | Fair                |        |   | Unrealized        |   |      | Fair    |   |   | Unrealized |   |   | Fair |   |   | Unrealized |   |
| (Dollars in thousands)       |   | Value               |        |   | Loss              |   |      | Value   |   |   | Loss |   |   | Value |   |   | Loss |   |
| March 31, 2011               |   |                |        |   |              |   |      |    |   |   |   |   |   |   |   |   |   |   |
| Available-for-sale:          |   |                |        |   |              |   |      |    |   |   |   |   |   |   |   |   |   |   |
| U.S. Treasury Obligations    |   | $                   | 26,990      |   |              | $      | (2        | )       |   | $ | - |   |   | $ | - |   |   | $ | 26,990 |   |   | $ | (2 | ) |
| Mortgage-backed securities   |   |                | 1,530       |   |              |   | (5        | )       |   |   | - |   |   |   | - |   |   |   | 1,530 |   |   |   | (5 | ) |
| Preferred equity securities  |   |                | 98          |   |              |   | (3        | )       |   |   | 1,777 |   |   |   | (227 | ) |   |   | 1,875 |   |   |   | (230 | ) |
| Marketable equity securities |   |                | -           |   |              |   | -         |    |   |   | 4 |   |   |   | (2 | ) |   |   | 4 |   |   |   | (2 | ) |
| Mutual Funds            |   |                |  2,945 |   |              |   |  (13 | )  |   |   |  - |   |   |   |  - |   |   |   |  2,945 |   |   |   |  (13 | )  |
| Total                        |   | $                   | 31,563      |   |              | $      | (23       | )       |   | $ | 1,781 |   |   | $ | (229 | ) |   | $ | 33,344 |   |   | $ | (252 | ) |
|                         |   |                |        |   |              |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| December  31, 2010 |   |                |        |   |              |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Available-for-sale:          |   |                |        |   |              |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage-backed securities   |   | $                   | -           |   |              | $      | -         |    |   | $ | 335 |   |   | $ | (2 | ) |   | $ | 335 |   |   | $ | (2 | ) |
| Preferred equity securities  |   |                | 95          |   |              |   | (5        | )       |   |   | 1,722 |   |   |   | (288 | ) |   |   | 1,817 |   |   |   | (293 | ) |
| Marketable equity securities |   |                | -           |   |              |   | -         |    |   |   | 5 |   |   |   | (2 | ) |   |   | 5 |   |   |   | (2 | ) |
| Total                        |   | $                   | 95          |   |              | $      | (5        | )       |   | $ | 2,062 |   |   | $ | (292 | ) |   | $ | 2,157 |   |   | $ | (297 | ) |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                                   |   | March 31, 2011     |    |
|----------------------------------------|--------|--------------------|---------|
|                                   |   | Available for Sale |    |   | Held to Maturity |   |
|                                   |   |               |    |   | Estimated |   |   |   |   |   | Estimated |   |
|                                   |   | Amortized          |    |   | Market |   |   | Amortized |   |   | Market |   |
|                                   |   | Cost               |    |   | Value |   |   | Cost |   |   | Value |   |
| (Dollars in thousands)                 |   |               |    |   |   |   |   |   |   |   |   |   |
| Due in one year or less                |   | $                  | 95,986  |   |   | $ | 95,988 |   |   | $ | 663 |   |   | $ | 663 |   |
| Due after one year through five years  |   |               | 11,504  |   |   |   | 11,571 |   |   |   | - |   |   |   | - |   |
| Due after five years through ten years |   |               | 500     |   |   |   | 522 |   |   |   | - |   |   |   | - |   |
| Due after ten years                    |   |               | 44      |   |   |   | 44 |   |   |   | 3,000 |   |   |   | 3,000 |   |
| Mortgage-backed securities             |   |               | 27,115  |   |   |   | 28,724 |   |   |   | 9 |   |   |   | 9 |   |
| Total debt  securities       |   | $                  | 135,149 |   |   | $ | 136,849 |   |   | $ | 3,672 |   |   | $ | 3,672 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

| 3. |  Loans and Allowance for Loan Losses |
|----|-------------------------------------------|

|   |                       |   |                |      |   |                  |   |
|--------|----------------------------|--------|---------------------|-----------|--------|-----------------------|--------|
|   |                       |   | March 31, 2011 |      |   | December 31,2010 |   |
|   | (Dollars in thousands)     |   |                |      |   |                  |   |
|   | Real estate                |   |                |      |   |                  |   |
|   | Residential                |   | $                   | 461,843   |   |                  | $      | 453,557 |   |
|   | Commercial                 |   |                | 357,942   |   |                  |   | 361,838 |   |
|   | Construction               |   |                | 45,501    |   |                  |   | 46,623 |   |
|   | Installment                |   |                | 12,401    |   |                  |   | 12,597 |   |
|   | Commercial                 |   |                | 112,028   |   |                  |   | 112,535 |   |
|   | Collateral                 |   |                | 1,991     |   |                  |   | 1,941 |   |
|   | Home equity line of credit |   |                | 81,558    |   |                  |   | 81,837 |   |
|   | Demand                     |   |                | 254       |   |                  |   | 227 |   |
|   | Revolving credit           |   |                | 62        |   |                  |   | 84 |   |
|   | Resort                     |   |                | 102,495   |   |                  |   | 105,215 |   |
|   | Total loans                |   |                | 1,176,075 |   |                  |   | 1,176,454 |   |
|   | Less:                      |   |                |      |   |                  |   |   |   |
|   | Allowance for loan losses  |   |                | (20,562   | )      |                  |   | (20,734 | ) |
|   | Net deferred loan costs    |   |                | 2,322     |   |                  |   | 2,197 |   |
|   | Loans, net                 |   | $                   | 1,157,835 |   |                  | $      | 1,157,917 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                       |   | For the Three Months Ended March 31, 2011 |
|----------------------------|--------|-------------------------------------------|
|                       |   | Balance at beginning of period            |   |   | Charge-offs |   |   | Recoveries |   |   | Provision for (Reduction) loan losses |   |   | Balance atend ofperiod |   |
| (In thousands)             |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Real estate                |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential                |   | $                                         | 3,056 |   |   | $ | (263 | ) |   | $ | - |   |   | $ | 766 |   |   | $ | 3,559 |   |
| Commercial                 |   |                                      | 7,726 |   |   |   | - |   |   |   | - |   |   |   | (1,482 | ) |   |   | 6,244 |   |
| Construction               |   |                                      | 524 |   |   |   | - |   |   |   | - |   |   |   | 261 |   |   |   | 785 |   |
| Installment                |   |                                      | 115 |   |   |   | (5 | ) |   |   | - |   |   |   | (29 | ) |   |   | 81 |   |
| Commercial                 |   |                                      | 1,564 |   |   |   | (169 | ) |   |   | - |   |   |   | 348 |   |   |   | 1,743 |   |
| Collateral                 |   |                                      | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Home equity line of credit |   |                                      | 558 |   |   |   | (25 | ) |   |   | - |   |   |   | 32 |   |   |   | 565 |   |
| Demand                     |   |                                      | 3 |   |   |   | - |   |   |   | 4 |   |   |   | (6 | ) |   |   | 1 |   |
| Revolving credit           |   |                                      | - |   |   |   | (14 | ) |   |   | - |   |   |   | 14 |   |   |   | - |   |
| Resort                     |   |                                      | 7,188 |   |   |   | - |   |   |   | - |   |   |   | (9 | ) |   |   | 7,179 |   |
| Unallocated                |   |                                      | - |   |   |   | - |   |   |   | - |   |   |   | 405 |   |   |   | 405 |   |
|                       |   | $                                         | 20,734 |   |   | $ | (476 | ) |   | $ | 4 |   |   | $ | 300 |   |   | $ | 20,562 |   |

|                           |   | For the Three Months Ended March 31, 2010 |   |
|--------------------------------|--------|-------------------------------------------|--------|
| Balance at beginning of period |   | $                                         | 16,316 |   |
| Provision for loan losses      |   |                                      | 600    |   |
| Charge-offs                    |   |                                      | (1,131 | ) |
| Recoveries                     |   |                                      | 27     |   |
| Balance at end of period       |   | $                                         | 15,812 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

| Loans individually evaluated for impairment: |   |              |   |              |              |             |   |               |   |   |
|----------------------------------------------|--------|-------------------|--------|-------------------|-------------------|------------------|--------|--------------------|--------|--------|
|                                         |   |              |   |              |              |             |   |               |   |   |   |   |
|                                         |   | March 31, 2011    |   |              | December 31, 2010 |             |
|                                         |   | Principal Balance |   | ReserveAllocation |              | PrincipalBalance |   | Reserve Allocation |   |
| (Dollars in thousands)                       |   |              |   |              |              |             |   |               |   |   |   |   |
| Real estate Loans                            |   |              |   |              |              |             |   |               |   |   |   |   |
| Residential                                  |   | $                 | 10,704 |              |              | $                | 496    |               |   | $      | 7,001 |   |   | $ | 358 |   |
| Commercial                                   |   |              | 14,403 |              |              |             | 247    |               |   |   | 14,211 |   |   |   | 260 |   |
| Construction                                 |   |              | 682    |              |              |             | 67     |               |   |   | 897 |   |   |   | - |   |
| Installment                                  |   |              | -      |              |              |             | -      |               |   |   | - |   |   |   | - |   |
| Commercial                                   |   |              | 2,627  |              |              |             | 33     |               |   |   | 2,795 |   |   |   | - |   |
| Collateral                                   |   |              | -      |              |              |             | -      |               |   |   | - |   |   |   | - |   |
| Home Equity line of credit                   |   |              | 1,873  |              |              |             | 25     |               |   |   | 1,228 |   |   |   | 48 |   |
| Demand                                       |   |              | -      |              |              |             | -      |               |   |   | - |   |   |   | - |   |
| Revolving Credit                             |   |              | -      |              |              |             | -      |               |   |   | - |   |   |   | - |   |
| Resort                                       |   |              | 4,880  |              |              |             | 4,880  |               |   |   | 4,880 |   |   |   | 4,880 |   |
| Total                                        |   | $                 | 35,169 |              |              | $                | 5,748  |               |   | $      | 31,012 |   |   | $ | 5,546 |   |

| Loans collectively evaluated for impairment: |   |             |      |              |              |             |   |               |   |   |      |   |   |
|----------------------------------------------|--------|------------------|-----------|-------------------|-------------------|------------------|--------|--------------------|--------|--------|-----------|--------|--------|
|                                         |   |             |      |              |              |             |   |               |   |   |      |   |   |   |   |   |
|                                         |   | March 31, 2011   |      |              | December 31, 2010 |             |
|                                         |   | PrincipalBalance |      | ReserveAllocation |              | PrincipalBalance |   | Reserve Allocation |   |
| (Dollars in thousands)                       |   |             |      |              |              |             |   |               |   |   |      |   |   |   |   |   |
| Real estate Loans                            |   |             |      |              |              |             |   |               |   |   |      |   |   |   |   |   |
| Residential                                  |   | $                | 451,139   |              |              | $                | 3,063  |               |   | $      | 446,556   |   |   | $ | 2,698 |   |
| Commercial                                   |   |             | 343,539   |              |              |             | 5,997  |               |   |   | 347,627   |   |   |   | 7,466 |   |
| Construction                                 |   |             | 44,819    |              |              |             | 718    |               |   |   | 45,726    |   |   |   | 524 |   |
| Installment                                  |   |             | 12,401    |              |              |             | 81     |               |   |   | 12,597    |   |   |   | 115 |   |
| Commercial                                   |   |             | 109,401   |              |              |             | 1,710  |               |   |   | 109,740   |   |   |   | 1,564 |   |
| Collateral                                   |   |             | 1,991     |              |              |             | -      |               |   |   | 1,941     |   |   |   | - |   |
| Home Equity line of credit                   |   |             | 79,685    |              |              |             | 540    |               |   |   | 80,609    |   |   |   | 510 |   |
| Demand                                       |   |             | 254       |              |              |             | 1      |               |   |   | 227       |   |   |   | 3 |   |
| Revolving Credit                             |   |             | 62        |              |              |             | -      |               |   |   | 84        |   |   |   | - |   |
| Resort                                       |   |             | 97,615    |              |              |             | 2,299  |               |   |   | 100,335   |   |   |   | 2,308 |   |
| Total                                        |   | $                | 1,140,906 |              |              | $                | 14,409 |               |   | $      | 1,145,442 |   |   | $ | 15,188 |   |
| Unallocated                                  |   |             | -         |              |              |             | 405    |               |   |   | -         |   |   |   | - |   |
| Total                                        |   | $                | 1,176,075 |              |              | $                | 20,562 |               |   | $      | 1,176,454 |   |   | $ | 20,734 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                       |   |              |   |       |       |   |         |         |   |   |   |           |   |   |                  |                                |   |   |                     |   |   |   |   |   |   |           |           |
|----------------------------|--------|-------------------|--------|------------|------------|--------|--------------|--------------|--------|--------|--------|----------------|--------|--------|-----------------------|-------------------------------------|--------|--------|--------------------------|--------|--------|--------|--------|--------|--------|----------------|----------------|
|                       |   | March 31, 2011    |   |
|                       |   | 30-59 Days        |   | 60-89 Days |       |   | > 90 Days |         |   |   |   |           |   |   |                  | Past Due 90Days or More   |   |
| (Dollars in thousands)     |   | Past Due          |   |       | Past Due   |   | Past Due     |         | Total  |   |   | and Still |   |
|                       |   | Number            |   |       | Amount     |   |         | Number       |   |   | Amount |           |   | Number |                  |                                | Amount |   |                     | Number |   |   | Amount |   |   |  Accruing |           |
| Real estate Loans          |   |              |   |       |       |   |         |         |   |   |   |           |   |   |                  |                                |   |   |                     |   |   |   |   |   |   |           |           |
| Residential                |   |              | 11     |       |       | $      | 2,549        |         |   |   | -      |           |   | $      | -                     |                                |   |   | 13                       |   |   | $      | 8,212  |   |   |           | 24             |   |   |   | 10,761 |   |   | $ | - |   |
| Commercial                 |   |              | 2      |       |       |   | 395          |         |   |   | -      |           |   |   | -                     |                                |   |   | 7                        |   |   |   | 3,921  |   |   |           | 9              |   |   |   | 4,316 |   |   |   | - |   |
| Construction               |   |              | -      |       |       |   | -            |         |   |   | 1      |           |   |   | 167                   |                                |   |   | 1                        |   |   |   | 682    |   |   |           | 2              |   |   |   | 849 |   |   |   | - |   |
| Installment                |   |              | 3      |       |       |   | 28           |         |   |   | -      |           |   |   | -                     |                                |   |   | 2                        |   |   |   | 64     |   |   |           | 5              |   |   |   | 92 |   |   |   | - |   |
| Commercial                 |   |              | -      |       |       |   | -            |         |   |   | -      |           |   |   | -                     |                                |   |   | 8                        |   |   |   | 726    |   |   |           | 8              |   |   |   | 726 |   |   |   | - |   |
| Collateral                 |   |              | 3      |       |       |   | 18           |         |   |   | -      |           |   |   | -                     |                                |   |   | -                        |   |   |   | -      |   |   |           | 3              |   |   |   | 18 |   |   |   | - |   |
| Home Equity Line of Credit |   |              | -      |       |       |   | -            |         |   |   | -      |           |   |   | -                     |                                |   |   | 5                        |   |   |   | 1,492  |   |   |           | 5              |   |   |   | 1,492 |   |   |   | - |   |
| Demand                     |   |              | -      |       |       |   | -            |         |   |   | -      |           |   |   | -                     |                                |   |   | 1                        |   |   |   | 25     |   |   |           | 1              |   |   |   | 25 |   |   |   | - |   |
| Revolving Credit           |   |              | -      |       |       |   | -            |         |   |   | -      |           |   |   | -                     |                                |   |   | -                        |   |   |   | -      |   |   |           | -              |   |   |   | - |   |   |   | - |   |
| Resort                     |   |              | 1      |       |       |   | 4,880        |         |   |   | 3      |           |   |   | 12,220                |                                |   |   | -                        |   |   |   | -      |   |   |           | 4              |   |   |   | 17,100 |   |   |   | - |   |
| Total                      |   |              | 20     |       |       | $      | 7,870        |         |   |   | 4      |           |   | $      | 12,387                |                                |   |   | 37                       |   |   | $      | 15,122 |   |   |           | 61             |   |   | $ | 35,379 |   |   | $ | - |   |
|                       |   |              |   |       |       |   |         |         |   |   |   |           |   |   |                  |                                |   |   |                     |   |   |   |   |   |   |           |           |   |   |   |   |   |   |   |   |   |
|                       |   | December 31, 2010 |   |
|                       |   | 30-59 Days        |   |       | 60-89 Days |   |         | > 90 Days |   |   |   |           |   |   |                  |                                |   |   | Past Due 90 Days or More |   |
| (Dollars in thousands)     |   | Past Due          |   |       | Past Due   |   |         | Past Due     |   |   | Total  |           |   |   | and Still   |                                |
|                       |   | Number            |   |       | Amount     |   |         | Number       |   |   | Amount |           |   | Number |                  |                                | Amount |   |                     | Number |   |   | Amount |   |   |           | Accruing  |   |
| Real estate Loans          |   |              |   |       |       |   |         |         |   |   |   |           |   |   |                  |                                |   |   |                     |   |   |   |   |   |   |           |           |   |   |   |   |   |   |   |   |   |
| Residential                |   |              | 6      |       |       | $      | 1,273        |         |   |   | 6      |           |   | $      | 4,624                 |                                |   |   | 10                       |   |   | $      | 4,128  |   |   |           | 22             |   |   | $ | 10,025 |   |   | $ | - |   |
| Commercial                 |   |              | 2      |       |       |   | 456          |         |   |   | 2      |           |   |   | 793                   |                                |   |   | 6                        |   |   |   | 3,160  |   |   |           | 10             |   |   |   | 4,409 |   |   |   | - |   |
| Construction               |   |              | -      |       |       |   | -            |         |   |   | -      |           |   |   | -                     |                                |   |   | 2                        |   |   |   | 897    |   |   |           | 2              |   |   |   | 897 |   |   |   | - |   |
| Installment                |   |              | 4      |       |       |   | 25           |         |   |   | -      |           |   |   | -                     |                                |   |   | 5                        |   |   |   | 98     |   |   |           | 9              |   |   |   | 123 |   |   |   | - |   |
| Commercial                 |   |              | 5      |       |       |   | 456          |         |   |   | -      |           |   |   | -                     |                                |   |   | 10                       |   |   |   | 761    |   |   |           | 15             |   |   |   | 1,217 |   |   |   | - |   |
| Collateral                 |   |              | 4      |       |       |   | 42           |         |   |   | -      |           |   |   | -                     |                                |   |   | -                        |   |   |   | -      |   |   |           | 4              |   |   |   | 42 |   |   |   | - |   |
| Home Equity LOC            |   |              | 2      |       |       |   | 100          |         |   |   | 1      |           |   |   | 24                    |                                |   |   | 5                        |   |   |   | 1,843  |   |   |           | 8              |   |   |   | 1,967 |   |   |   | - |   |
| Demand                     |   |              | -      |       |       |   | -            |         |   |   | -      |           |   |   | -                     |                                |   |   | 1                        |   |   |   | 25     |   |   |           | 1              |   |   |   | 25 |   |   |   | - |   |
| Revolving Credit           |   |              | -      |       |       |   | -            |         |   |   | -      |           |   |   | -                     |                                |   |   | -                        |   |   |   | -      |   |   |           | -              |   |   |   | - |   |   |   | - |   |
| Resort                     |   |              | -      |       |       |   | -            |         |   |   | -      |           |   |   | -                     |                                |   |   | -                        |   |   |   | -      |   |   |           | -              |   |   |   | - |   |   |   | - |   |
| Total                      |   |              | 23     |       |       | $      | 2,352        |         |   |   | 9      |           |   | $      | 5,441                 |                                |   |   | 39                       |   |   | $      | 10,912 |   |   |           | 71             |   |   | $ | 18,705 |   |   | $ | - |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

| (Dollars in thousands)                    |   | March 31, 2011 |   |   | December 31,2010 |   |
|-------------------------------------------|--------|---------------------|--------|--------|------------------|--------|
| Nonaccrual loans:                         |   |                |   |   |             |   |
| Real estate Loans                         |   |                |   |   |             |   |
| Residential                               |   | $                   | 8,916  |   |             | $      | 5,209 |   |
| Commercial                                |   |                | 3,921  |   |             |   | 3,693 |   |
| Construction                              |   |                | 682    |   |             |   | 898 |   |
| Installment                               |   |                | 118    |   |             |   | 124 |   |
| Commercial                                |   |                | 885    |   |             |   | 862 |   |
| Collateral                                |   |                | -      |   |             |   | - |   |
| Home Equity Line of Credit                |   |                | 1,950  |   |             |   | 2,031 |   |
| Demand                                    |   |                | 25     |   |             |   | 25 |   |
| Revolving Credit                          |   |                | -      |   |             |   | - |   |
| Resort                                    |   |                | 4,880  |   |             |   | 4,880 |   |
| Total nonaccruing loans                   |   |                | 21,377 |   |             |   | 17,722 |   |
| Loans 90 days past due and still accruing |   |                | -      |   |             |   | - |   |
| Real estate owned                         |   |                | 238    |   |             |   | 238 |   |
| Total nonperforming assets                |   | $                   | 21,615 |   |             | $      | 17,960 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                                          |   | March 31, 2011 |   |
|-----------------------------------------------|--------|----------------|--------|
|                                          |   |           |   |   | Unpaid |   |   |   |   |
|                                          |   | Recorded       |   |   | Principal |   |   | Related |   |
| (Dollars in thousands)                        |   | Investment     |   |   | Balance |   |   | Allowance |   |
| Impaired loans without a valuation allowance: |   |           |   |   |   |   |   |   |   |
| Real estate Loans                             |   |           |   |   |   |   |   |   |   |
| Residential                                   |   | $              | 5,036  |   |   | $ | 5,052 |   |   | $ | - |   |
| Commercial                                    |   |           | 7,967  |   |   |   | 8,982 |   |   |   | - |   |
| Construction                                  |   |           | -      |   |   |   | - |   |   |   | - |   |
| Installment                                   |   |           | -      |   |   |   | - |   |   |   | - |   |
| Commercial                                    |   |           | 2,589  |   |   |   | 2,590 |   |   |   | - |   |
| Collateral                                    |   |           | -      |   |   |   | - |   |   |   | - |   |
| Home Equity Line of Credit                    |   |           | 1,449  |   |   |   | 1,449 |   |   |   | - |   |
| Demand                                        |   |           | -      |   |   |   | - |   |   |   | - |   |
| Revolving Credit                              |   |           | -      |   |   |   | - |   |   |   | - |   |
| Resort                                        |   |           | -      |   |   |   | - |   |   |   | - |   |
| Total                                         |   |           | 17,041 |   |   |   | 18,073 |   |   |   | - |   |
|                                          |   |           |   |   |   |   |   |   |   |   |   |   |
| Impaired loans with a valuation allowance:    |   |           |   |   |   |   |   |   |   |   |   |   |
| Real estate Loans                             |   |           |   |   |   |   |   |   |   |   |   |   |
| Residential                                   |   |           | 5,668  |   |   |   | 5,914 |   |   |   | 496 |   |
| Commercial                                    |   |           | 6,436  |   |   |   | 6,435 |   |   |   | 247 |   |
| Construction                                  |   |           | 682    |   |   |   | 928 |   |   |   | 67 |   |
| Installment                                   |   |           | -      |   |   |   | - |   |   |   | - |   |
| Commercial                                    |   |           | 38     |   |   |   | 172 |   |   |   | 33 |   |
| Collateral                                    |   |           | -      |   |   |   | - |   |   |   | - |   |
| Home Equity Line of Credit                    |   |           | 424    |   |   |   | 520 |   |   |   | 25 |   |
| Demand                                        |   |           | -      |   |   |   | - |   |   |   | - |   |
| Revolving Credit                              |   |           | -      |   |   |   | - |   |   |   | - |   |
| Resort                                        |   |           | 4,880  |   |   |   | 4,880 |   |   |   | 4,880 |   |
| Total                                         |   |           | 18,128 |   |   |   | 18,849 |   |   |   | 5,748 |   |
| Total impaired loans                          |   | $              | 35,169 |   |   | $ | 36,922 |   |   | $ | 5,748 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                                          |   | December 31, 2010 |
|-----------------------------------------------|--------|-------------------|
|                                          |   |              |   |   | Unpaid |   |   |   |   |
|                                          |   | Recorded          |   |   | Principal |   |   | Related |   |
| (Dollars in thousands)                        |   | Investment        |   |   | Balance |   |   | Allowance |   |
| Impaired loans without a valuation allowance: |   |              |   |   |   |   |   |   |   |
| Real estate Loans                             |   |              |   |   |   |   |   |   |   |
| Residential                                   |   | $                 | 2,710 |   |   | $ | 2,703 |   |   | $ | - |   |
| Commercial                                    |   |              | 7,974 |   |   |   | 8,982 |   |   |   | - |   |
| Construction                                  |   |              | 897 |   |   |   | 1,143 |   |   |   | - |   |
| Installment                                   |   |              | - |   |   |   | - |   |   |   | - |   |
| Commercial                                    |   |              | 2,795 |   |   |   | 2,803 |   |   |   | - |   |
| Collateral                                    |   |              | - |   |   |   | - |   |   |   | - |   |
| Home Equity Line of Credit                    |   |              | 999 |   |   |   | 999 |   |   |   | - |   |
| Demand                                        |   |              | - |   |   |   | - |   |   |   | - |   |
| Revolving Credit                              |   |              | - |   |   |   | - |   |   |   | - |   |
| Resort                                        |   |              | - |   |   |   | - |   |   |   | - |   |
| Total                                         |   |              | 15,375 |   |   |   | 16,630 |   |   |   | - |   |
|                                          |   |              |   |   |   |   |   |   |   |   |   |   |
| Impaired loans with a valuation allowance:    |   |              |   |   |   |   |   |   |   |   |   |   |
| Real estate Loans                             |   |              |   |   |   |   |   |   |   |   |   |   |
| Residential                                   |   |              | 4,291 |   |   |   | 4,306 |   |   |   | 358 |   |
| Commercial                                    |   |              | 6,237 |   |   |   | 6,237 |   |   |   | 260 |   |
| Construction                                  |   |              | - |   |   |   | - |   |   |   | - |   |
| Installment                                   |   |              | - |   |   |   | - |   |   |   | - |   |
| Commercial                                    |   |              | - |   |   |   | - |   |   |   | - |   |
| Collateral                                    |   |              | - |   |   |   | - |   |   |   | - |   |
| Home Equity Line of Credit                    |   |              | 229 |   |   |   | 300 |   |   |   | 48 |   |
| Demand                                        |   |              | - |   |   |   | - |   |   |   | - |   |
| Revolving Credit                              |   |              | - |   |   |   | - |   |   |   | - |   |
| Resort                                        |   |              | 4,880 |   |   |   | 4,880 |   |   |   | 4,880 |   |
| Total                                         |   |              | 15,637 |   |   |   | 15,723 |   |   |   | 5,546 |   |
| Total impaired loans                          |   | $                 | 31,012 |   |   | $ | 32,353 |   |   | $ | 5,546 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                       |   | March 31, 2011         |   |
|----------------------------|--------|------------------------|--------|
|                       |   | TDRs on Accrual Status |   |   | TDRs on Nonaccrual Status |   |   | Total TDRs |   |
| (Dollars in thousands)     |   | Number of Loans        |   |   | Balance of Loans |   |   | Number of Loans |   |   | Balance of Loans |   |   | Number of Loans |   |   | Balance of Loans |   |
| Real estate                |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Residential    |   |                   | 5      |   |   | $ | 1,858 |   |   |   | 4 |   |   | $ | 5,165 |   |   |   | 9 |   |   | $ | 7,023 |   |
|   Commercial     |   |                   | 5      |   |   |   | 10,513 |   |   |   | 3 |   |   |   | 2,441 |   |   |   | 8 |   |   |   | 12,954 |   |
|   Construction   |   |                   | -      |   |   |   | - |   |   |   | 1 |   |   |   | 682 |   |   |   | 1 |   |   |   | 682 |   |
| Installment                |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Commercial                 |   |                   | 1      |   |   |   | 300 |   |   |   | 1 |   |   |   | 145 |   |   |   | 2 |   |   |   | 445 |   |
| Collateral                 |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Home equity line of credit |   |                   | -      |   |   |   | - |   |   |   | 1 |   |   |   | 999 |   |   |   | 1 |   |   |   | 999 |   |
| Demand                     |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Revolving Credit           |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Resort                     |   |                   | -      |   |   |   | - |   |   |   | 1 |   |   |   | 4,880 |   |   |   | 1 |   |   |   | 4,880 |   |
|   Total          |   |                   | 11     |   |   | $ | 12,671 |   |   |   | 11 |   |   | $ | 14,312 |   |   |   | 22 |   |   | $ | 26,983 |   |
|                       |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                       |   | December 31, 2010      |   |
|                       |   | TDRs on Accrual Status |   |   | TDRs on Nonaccrual Status |   |   | Total |   |
| (Dollars in thousands)     |   | Number of Loans        |   |   | Recorded Investment |   |   | Number of Loans |   |   | Recorded Investment |   |   | Number of Loans |   |   | Recorded Investment |   |
| Real estate                |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Residential    |   |                   | 5      |   |   | $ | 4,449 |   |   |   | 2 |   |   | $ | 697 |   |   |   | 7 |   |   | $ | 5,146 |   |
|   Commercial     |   |                   | 5      |   |   |   | 10,544 |   |   |   | 3 |   |   |   | 2,449 |   |   |   | 8 |   |   |   | 12,993 |   |
|   Construction   |   |                   | -      |   |   |   | - |   |   |   | 2 |   |   |   | 897 |   |   |   | 2 |   |   |   | 897 |   |
| Installment                |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Commercial                 |   |                   | 5      |   |   |   | 1,932 |   |   |   | 1 |   |   |   | 146 |   |   |   | 6 |   |   |   | 2,078 |   |
| Collateral                 |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Home equity line of credit |   |                   | -      |   |   |   | - |   |   |   | 1 |   |   |   | 999 |   |   |   | 1 |   |   |   | 999 |   |
| Demand                     |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Revolving Credit           |   |                   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Resort                     |   |                   | -      |   |   |   | - |   |   |   | 1 |   |   |   | 4,880 |   |   |   | 1 |   |   |   | 4,880 |   |
|   Total          |   |                   | 15     |   |   | $ | 16,925 |   |   |   | 10 |   |   | $ | 10,068 |   |   |   | 25 |   |   | $ | 26,993 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

| Loans rated 1 – 5: | Commercial loans in these categories are considered “pass” rated loans with low to average risk. |
|--------------------------|--------------------------------------------------------------------------------------------------------------|

| Loans rated 6: | Residential, Consumer and Commercial loans in this category are considered “special mention.” These loans are starting to show signs of potential weakness and are being closely monitored by management. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Loans rated 7:  | Loans in this category are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligors and/or the collateral pledged. There is a distinct possibility that the Company will sustain some loss if the weakness is not corrected. |
|----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |                                                                                                                                                                                                                                                                                                                                               |
| Loans rated 8:       | Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable.                |
|                 |                                                                                                                                                                                                                                                                                                                                               |
| Loans rated 9:       | Loans in this category are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted.                                                                                                                                                                                                |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                       |   | March 31, 2011    |      |
|----------------------------|--------|-------------------|-----------|
| (Dollars in thousands)     |   | Pass              |      |   | Special Mention |   |   | Substandard |   |   | Doubtful |   |   | Total |   |
| Real Estate Loans          |   |              |      |   |   |   |   |   |   |   |   |   |   |   |   |
|   Residential    |   | $                 | 450,982   |   |   | $ | 733 |   |   | $ | 10,128 |   |   | $ | - |   |   | $ | 461,843 |   |
|   Commercial     |   |              | 316,451   |   |   |   | 9,519 |   |   |   | 31,972 |   |   |   | - |   |   |   | 357,942 |   |
|   Construction   |   |              | 37,443    |   |   |   | 1,651 |   |   |   | 6,407 |   |   |   | - |   |   |   | 45,501 |   |
| Installment                |   |              | 12,260    |   |   |   | 19 |   |   |   | 122 |   |   |   | - |   |   |   | 12,401 |   |
| Commercial                 |   |              | 92,226    |   |   |   | 6,127 |   |   |   | 13,675 |   |   |   | - |   |   |   | 112,028 |   |
| Collateral                 |   |              | 1,983     |   |   |   | 8 |   |   |   | - |   |   |   | - |   |   |   | 1,991 |   |
| Home Equity Line of Credit |   |              | 79,350    |   |   |   | 72 |   |   |   | 2,136 |   |   |   | - |   |   |   | 81,558 |   |
| Demand                     |   |              | 229       |   |   |   | - |   |   |   | 25 |   |   |   | - |   |   |   | 254 |   |
| Revolving Credit           |   |              | 62        |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 62 |   |
| Resort                     |   |              | 82,596    |   |   |   | - |   |   |   | 15,019 |   |   |   | 4,880 |   |   |   | 102,495 |   |
|   Total Loans    |   | $                 | 1,073,582 |   |   | $ | 18,129 |   |   | $ | 79,484 |   |   | $ | 4,880 |   |   | $ | 1,176,075 |   |
|                       |   |              |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                       |   | December 31, 2010 |      |
| (Dollars in thousands)     |   | Pass              |      |   | Special Mention |   |   | Substandard |   |   | Doubtful |   |   | Total |   |
| Real Estate Loans          |   |              |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Residential    |   | $                 | 442,255   |   |   | $ | 2,025 |   |   | $ | 9,277 |   |   | $ | - |   |   | $ | 453,557 |   |
|   Commercial     |   |              | 306,720   |   |   |   | 13,418 |   |   |   | 29,037 |   |   |   | - |   |   |   | 349,175 |   |
|   Construction   |   |              | 51,454    |   |   |   | 1,611 |   |   |   | 6,221 |   |   |   | - |   |   |   | 59,286 |   |
| Installment                |   |              | 12,452    |   |   |   | 13 |   |   |   | 132 |   |   |   | - |   |   |   | 12,597 |   |
| Commercial                 |   |              | 92,015    |   |   |   | 5,833 |   |   |   | 14,687 |   |   |   | - |   |   |   | 112,535 |   |
| Collateral                 |   |              | 1,933     |   |   |   | 8 |   |   |   | - |   |   |   | - |   |   |   | 1,941 |   |
| Home Equity Line of Credit |   |              | 79,468    |   |   |   | 277 |   |   |   | 2,092 |   |   |   | - |   |   |   | 81,837 |   |
| Demand                     |   |              | 202       |   |   |   | - |   |   |   | 25 |   |   |   | - |   |   |   | 227 |   |
| Revolving Credit           |   |              | 84        |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 84 |   |
| Resort                     |   |              | 84,981    |   |   |   | - |   |   |   | 20,234 |   |   |   | - |   |   |   | 105,215 |   |
|   Total Loans    |   | $                 | 1,071,564 |   |   | $ | 23,185 |   |   | $ | 81,705 |   |   | $ | - |   |   | $ | 1,176,454 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|  4. | Credit Arrangements |
|----------|---------------------|

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|  5. | Deposits |
|----------|----------|

|                                |   | March 31,2011 |      |   | December 31,2010 |   |
|-------------------------------------|--------|---------------|-----------|--------|------------------|--------|
| (Dollars in thousands)              |   |          |      |   |             |   |
| Noninterest-bearing demand deposits |   | $             | 161,300   |   |             | $      | 150,186 |   |
| Interest-bearing                    |   |          |      |   |             |   |   |   |
| NOW accounts                        |   |          | 237,534   |   |             |   | 217,151 |   |
| Money market                        |   |          | 199,973   |   |             |   | 158,232 |   |
| Savings accounts                    |   |          | 138,741   |   |             |   | 129,122 |   |
| Time deposits                       |   |          | 427,148   |   |             |   | 453,677 |   |
| Club accounts                       |   |          | 259       |   |             |   | 137 |   |
| Total deposits                      |   | $             | 1,164,955 |   |             | $      | 1,108,505 |   |

|  6. | Pension and Other Postretirement Benefit Plans |
|----------|------------------------------------------------|

|                           |   | Pension Benefits             |   |   | Other Postretirement Benefits |   |
|--------------------------------|--------|------------------------------|--------|--------|-------------------------------|--------|
|                           |   | Three Months Ended March 31, |   |   | Three Months Ended March 31,  |   |
|                           |   | 2011                         |   |   | 2010                          |   |   | 2011 |   |   | 2010 |   |
| (Dollars in thousands)         |   |                         |   |   |                          |   |   |   |   |   |   |   |
| Service cost                   |   | $                            | 172    |   |                          | $      | 142 |   |   | $ | 15 |   |   | $ | 13 |   |
| Interest cost                  |   |                         | 264    |   |                          |   | 256 |   |   |   | 34 |   |   |   | 35 |   |
| Expected return on plan assets |   |                         | (269   | )      |                          |   | (248 | ) |   |   | - |   |   |   | - |   |
| Amortization:                  |   |                         |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| (Gain) loss                    |   |                         | 98     |   |                          |   | 66 |   |   |   | - |   |   |   | - |   |
| Transition obligation          |   |                         | -      |   |                          |   | - |   |   |   | - |   |   |   | - |   |
| Prior service cost             |   |                         | (31    | )      |                          |   | (31 | ) |   |   | (12 | ) |   |   | (12 | ) |
| Net periodic benefit cost      |   | $                            | 234    |   |                          | $      | 185 |   |   | $ | 37 |   |   | $ | 36 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|  7. | Derivative Financial Instruments |
|----------|----------------------------------|

|   | ● |   | If the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations; |
|--------|---------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● |   | If the Company fails to maintain its status as a well/adequately capitalized institution, then the counterparty could terminate the derivative positions, and the Company would be required to settle its obligations under the agreements; |
|--------|---------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● |   | if the Company fails to maintain a specified minimum leverage ratio, then the Company could be declared in default on its derivative obligations; and |
|--------|---------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● |   | if a specified event or condition occurs that materially changes the Company’s creditworthiness in an adverse manner, it may be required to fully collateralize its obligations under the derivative instrument. |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                                                 |   |                                |   |             |   |   | March 31, 2011  |   |   |                  |   |   | December 31, 2010 |   |
|------------------------------------------------------|--------|-------------------------------------|--------|------------------|--------|--------|-----------------|--------|--------|-----------------------|--------|--------|-------------------|--------|
|                                                 |   | Consolidated Balance Sheet Location |   | # of Instruments |   |   | Notional Amount |   |   | Estimated Fair Values |   |   | # of Instruments  |   |   | Notional Amount |   |   | Estimated Fair Values |   |
| (Dollars in thousands)                               |   |                                |   |             |   |   |            |   |   |                  |   |   |              |   |   |   |   |   |   |   |
|                                                 |   |                                |   |             |   |   |            |   |   |                  |   |   |              |   |   |   |   |   |   |   |
| Commercial loan customer interest rate swap position |   |  Other Assets                  |   |             | 6      |   |            | $      | 19,466 |                  |   | $      | 643               |   |   |   | 9 |   |   | $ | 42,289 |   |   | $ | 1,771 |   |
|                                                 |   |                                |   |             |   |   |            |   |   |                  |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial loan customer interest rate swap position |   |  Other Liabilities             |   |             | 13     |   |            |   | 52,796 |                  |   |   | (2,030            | )      |   |   | 10 |   |   |   | 44,779 |   |   |   | (1,497 | ) |
|                                                 |   |                                |   |             |   |   |            |   |   |                  |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Counterparty interest rate swap position             |   |  Other Assets (Liabilities)    |   |             | 19     |   |            |   | 72,262 |                  |   |   | 1,387             |   |   |   | 19 |   |   |   | 87,068 |   |   |   | (274 | ) |

|                                                 |   | Three Months Ended March 31             |   |
|------------------------------------------------------|--------|-----------------------------------------|--------|
|                                                 |   | 2011                                    |   |   | 2010 |   |
|                                                 |   | InterestIncomerecorded inInterestIncome |   |   | MTM (Loss) Gain recorded in Noninterest income |   |   | Net Impact |   |   | InterestIncomerecorded inInterestIncome |   |   | MTM (Loss)Gainrecorded inNoninterestincome |   |   | Net Impact |   |
| (Dollars in thousands)                               |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                 |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial loan customer interest rate swap position |   | $                                       | 571    |   |   | $ | - |   |   | $ | 571 |   |   | $ | 294 |   |   | $ | - |   |   | $ | 294 |   |
|                                                 |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Counterparty interest rate swap position             |   |                                    | (571   | ) |   |   | - |   |   |   | (571 | ) |   |   | (294 | ) |   |   | - |   |   |   | (294 | ) |
|                                                 |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                |   | $                                       | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|  8. | Financial Instruments with Off-Balance Sheet Risk |
|----------|---------------------------------------------------|

|   |                                     |   | March 31, |    |   | December 31, |   |
|--------|------------------------------------------|--------|-----------|---------|--------|--------------|--------|
|   |                                     |   | 2011      |    |   | 2010         |   |
|   | (Dollars in thousands)                   |   |      |    |   |         |   |
|   | Approved loan commitments                |   | $         | 27,135  |   |         | $      | 26,409 |   |
|   | Approved resort commitments              |   |      | -       |   |         |   | 19,000 |   |
|   | Unadvanced portion of construction loans |   |      | 17,819  |   |         |   | 20,290 |   |
|   | Unadvanced portion of resort loans       |   |      | 32,258  |   |         |   | 23,602 |   |
|   | Unused lines for home equity loans       |   |      | 79,492  |   |         |   | 80,410 |   |
|   | Unused revolving lines of credit         |   |      | 378     |   |         |   | 355 |   |
|   | Unused commercial letters of credit      |   |      | 10,648  |   |         |   | 9,885 |   |
|   | Unused commercial lines of credit        |   |      | 58,323  |   |         |   | 54,048 |   |
|   |                                     |   | $         | 226,053 |   |         | $      | 233,999 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

| 9. | Fair Value Measurements |
|----|-------------------------|

|   | ● | Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Level 2 - Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability; |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                                                        |   | March 31, 2011 |    |
|-------------------------------------------------------------|--------|----------------|---------|
|                                                        |   |           |    |   | Quoted Prices in Active Marketsfor IdenticalAssets |   |   | SignificantObservableInputs |   |   | SignificantUnobservableInputs |   |
| (Dollars in thousands)                                      |   | Total          |    |   | (Level 1) |   |   | (Level 2) |   |   | (Level 3) |   |
| Assets                                                      |   |           |    |   |   |   |   |   |   |   |   |   |
| U.S. Treasury obligations                                   |   | $              | 95,988  |   |   | $ | 95,988 |   |   | $ | - |   |   | $ | - |   |
| U.S. Goverment agency obligations                           |   |           | 11,044  |   |   |   | - |   |   |   | 11,044 |   |   |   | - |   |
| Government sponsored residential mortgage-backed securities |   |           | 28,724  |   |   |   | - |   |   |   | 28,724 |   |   |   | - |   |
| Corporate debt securities                                   |   |           | 1,049   |   |   |   | - |   |   |   | 1,049 |   |   |   | - |   |
| Trust preferred debt securities                             |   |           | 44      |   |   |   | - |   |   |   | - |   |   |   | 44 |   |
| Preferred equity securities                                 |   |           | 1,989   |   |   |   | - |   |   |   | 1,989 |   |   |   | - |   |
| Marketable equity securities                                |   |           | 404     |   |   |   | 114 |   |   |   | 290 |   |   |   | - |   |
| Mutual funds                                                |   |           | 3,306   |   |   |   | - |   |   |   | 3,306 |   |   |   | - |   |
| Securities available-for-sale                               |   |           | 142,548 |   |   |   | 96,102 |   |   |   | 46,402 |   |   |   | 44 |   |
| Interest rate swap derivative                               |   |           | 2,030   |   |   |   | - |   |   |   | 2,030 |   |   |   | - |   |
| Forward loan sales commitments                              |   |           | 6       |   |   |   | - |   |   |   |  - |   |   |   | 6 |   |
| Total assets                                                |   | $              | 144,584 |   |   | $ | 96,102 |   |   | $ | 48,432 |   |   | $ | 50 |   |
|                                                        |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities                                                 |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate swap derivative                               |   | $              | 2,030   |   |   | $ | - |   |   | $ | 2,030 |   |   | $ | - |   |
| Derivative loan commitments                                 |   |           | 57      |   |   |   | - |   |   |   |  - |   |   |   | 57 |   |
| Total liabilities                                           |   | $              | 2,087   |   |   | $ | - |   |   | $ | 2,030 |   |   | $ | 57 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                                                             |   | December 31, 2010 |    |
|------------------------------------------------------------------|--------|-------------------|---------|
|                                                             |   |              |    |   | Quoted Prices inActive Marketsfor IdenticalAssets |   |   | SignificantObservableInputs |   |   | SignificantUnobservableInputs |   |
| (Dollars in thousands)                                           |   | Total             |    |   | (Level 1) |   |   | (Level 2) |   |   | (Level 3) |   |
| Assets                                                           |   |              |    |   |   |   |   |   |   |   |   |   |
| U.S. Treasury obligations                                        |   | $                 | 112,975 |   |   | $ | 112,975 |   |   | $ | - |   |   | $ | - |   |
| U.S. Goverment agency obligations                                |   |              | 11,080  |   |   |   | - |   |   |   | 11,080 |   |   |   | - |   |
| Government sponsored residential mortgage-backed securities |   |              | 32,294  |   |   |   | - |   |   |   | 32,294 |   |   |   | - |   |
| Corporate debt securities                                        |   |              | 1,052   |   |   |   | - |   |   |   | 1,052 |   |   |   | - |   |
| Trust preferred debt securities                                  |   |              | 44      |   |   |   | - |   |   |   | - |   |   |   | 44 |   |
| Preferred equity securities                                      |   |              | 1,860   |   |   |   | - |   |   |   | 1,860 |   |   |   | - |   |
| Marketable equity securities                                     |   |              | 406     |   |   |   | 116 |   |   |   | 290 |   |   |   | - |   |
| Mutual funds                                                     |   |              | 3,297   |   |   |   | - |   |   |   | 3,297 |   |   |   | - |   |
| Securities available for sale                                    |   |              | 163,008 |   |   |   | 113,091 |   |   |   | 49,873 |   |   |   | 44 |   |
| Interest rate swap derivative                                    |   |              | 1,771   |   |   |   | - |   |   |   | 1,771 |   |   |   | - |   |
| Total assets                                                     |   | $                 | 164,779 |   |   | $ | 113,091 |   |   | $ | 51,644 |   |   | $ | 44 |   |
|                                                             |   |              |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities                                                      |   |              |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate swap derivative                                    |   | $                 | 1,771   |   |   | $ | - |   |   | $ | 1,771 |   |   | $ | - |   |
| Total liabilities                                                |   | $                 | 1,771   |   |   | $ | - |   |   | $ | 1,771 |   |   | $ | - |   |

|                                   |   |                                |   |   |                                              |   |
|----------------------------------------|--------|-------------------------------------|--------|--------|---------------------------------------------------|--------|
|                                   |   | Securities Available for Sale       |   |   | Derivative and Forward LoanSales Commitments, Net |   |
|                                   |   | For the Three Months EndedMarch 31, |   |   | For the Three Months EndedMarch 31,               |   |
|                                   |   | 2011                                |   |   | 2010                                              |   |   | 2011 |   |   | 2010 |   |
|                                   |   |                                |   |   |                                              |   |   |   |   |   |   |   |
| (Dollars in thousands)                 |   |                                |   |   |                                              |   |   |   |   |   |   |   |
| Balance at beginning of period         |   | $                                   | 44     |   |                                              | $      | 90 |   |   | $ | - |   |   | $ | - |   |
| Transfer into Level 3                  |   |                                | -      |   |                                              |   | - |   |   |   | - |   |   |   | - |   |
| Accretion                              |   |                                | -      |   |                                              |   | (23 | ) |   |   | - |   |   |   | - |   |
| Paydowns                               |   |                                | -      |   |                                              |   | - |   |   |   | - |   |   |   | - |   |
| Total losses - (realized/unrealized):  |   |                                |   |   |                                              |   |   |   |   |   |   |   |   |   |   |   |
| Included in earnings                   |   |                                | -      |   |                                              |   | - |   |   |   | 51 |   |   |   | - |   |
| Included in other comprehensive income |   |                                | -      |   |                                              |   | - |   |   |   | - |   |   |   | - |   |
| Purchases                              |   |                                | -      |   |                                              |   | - |   |   |   |  - |   |   |   | - |   |
| Sales/Proceeds                         |   |                                | -      |   |                                              |   | - |   |   |   | - |   |   |   | - |   |
| Balance at the end of period           |   | $                                   | 44     |   |                                              | $      | 67 |   |   | $ | 51 |   |   | $ | - |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|                      |   | March 31, 2011     |   |
|---------------------------|--------|--------------------|--------|
|                      |   | Quoted Prices in   |   |   | Significant |   |   | Significant |   |
|                      |   | Active Markets for |   | Observable |   |   | Unobservable |   |
|                      |   | Identical Assets   |   |   | Inputs |   |   | Inputs |   |
|                      |   | (Level 1)          |   |   | (Level 2) |   |   | (Level 3) |   |
| (Dollars in thousands)    |   |               |   |   |   |   |   |   |   |
| Mortgage servicing rights |   | $                  | -      |   |   | $ | - |   |   | $ | 521 |   |
| Loans held for sale       |   |               | -      |   |   |   | 378 |   |   |   | - |   |
| Impaired loans            |   |               | -      |   |   |   | - |   |   |   | 29,421 |   |
| Other real estate owned   |   |               | -      |   |   |   | - |   |   |   | 238 |   |
|                      |   |               |   |   |   |
|                      |   | December 31, 2010  |   |
|                      |   | Quoted Prices in   |   |   | Significant |   |   | Significant |   |
|                      |   | Active Markets for |   | Observable |   |   | Unobservable |   |
|                      |   | Identical Assets   |   |   | Inputs |   |   | Inputs |   |
|                      |   | (Level 1)          |   |   | (Level 2) |   |   | (Level 3) |   |
| (Dollars in thousands)    |   |               |   |   |   |   |   |   |   |   |   |   |
| Mortgage servicing rights |   | $                  | -      |   |   | $ | - |   |   | $ | 457 |   |
| Loans held for sale       |   |               | -      |   |   |   | 862 |   |   |   | - |   |
| Impaired loans            |   |               | -      |   |   |   | - |   |   |   | 25,466 |   |
| Other real estate owned   |   |               | -      |   |   |   | - |   |   |   | 238 |   |

----

| First Connecticut Bancorp, Inc.                        |
|--------------------------------------------------------|
| Notes to Consolidated Financial Statements (Unaudited) |
|                                                   |

|  10. | Fair Value of Financial Instruments |
|-----------|-------------------------------------|

----

| First Connecticut Bancorp, Inc.Notes to Consolidated Financial Statements (Unaudited) |
|---------------------------------------------------------------------------------------|
|                                                                                  |

----

| First Connecticut Bancorp, Inc.Notes to Consolidated Financial Statements (Unaudited) |
|---------------------------------------------------------------------------------------|
|                                                                                  |

|                                              |   | March 31, 2011 |      |   | December 31, 2010 |   |
|---------------------------------------------------|--------|----------------|-----------|--------|-------------------|--------|
|                                              |   |           |      |   | Estimated         |   |   |   |   |   | Estimated |   |
|                                              |   | Carrying       |      |   | Fair              |   |   | Carrying |   |   | Fair |   |
|                                              |   | Amount         |      |   | Value             |   |   | Amount |   |   | Value |   |
| (Dollars in thousands)                            |   |           |      |   |              |   |   |   |   |   |   |   |
| Financial assets                                  |   |           |      |   |              |   |   |   |   |   |   |   |
| Cash and due from banks                           |   | $              | 25,465    |   |              | $      | 25,465 |   |   | $ | 18,608 |   |   | $ | 18,608 |   |
| Federal funds sold                                |   |           | 50,000    |   |              |   | 50,000 |   |   |   | - |   |   |   | - |   |
| Securities held-to-maturity                       |   |           | 3,672     |   |              |   | 3,672 |   |   |   | 3,672 |   |   |   | 3,672 |   |
| Securities available-for-sale                     |   |           | 142,548   |   |              |   | 142,548 |   |   |   | 163,008 |   |   |   | 163,008 |   |
| Loans held for sale                               |   |           | 378       |   |              |   | 378 |   |   |   | 862 |   |   |   | 862 |   |
| Loans                                             |   |           | 1,176,075 |   |              |   | 1,184,747 |   |   |   | 1,176,454 |   |   |   | 1,179,012 |   |
| Federal Home Loan Bank stock                      |   |           | 7,449     |   |              |   | 7,449 |   |   |   | 7,449 |   |   |   | 7,449 |   |
| Accrued interest receivable                       |   |           | 4,154     |   |              |   | 4,154 |   |   |   | 4,227 |   |   |   | 4,227 |   |
|                                              |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities                             |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                          |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Noninterest-bearing demand deposits               |   |           | 161,300   |   |              |   | 161,300 |   |   |   | 150,186 |   |   |   | 150,186 |   |
| Savings accounts                                  |   |           | 138,741   |   |              |   | 138,741 |   |   |   | 129,122 |   |   |   | 129,122 |   |
| Money market                                      |   |           | 199,973   |   |              |   | 199,973 |   |   |   | 158,232 |   |   |   | 158,232 |   |
| Time deposits                                     |   |           | 427,148   |   |              |   | 429,915 |   |   |   | 453,677 |   |   |   | 456,147 |   |
| NOW accounts                                      |   |           | 237,534   |   |              |   | 237,534 |   |   |   | 217,151 |   |   |   | 217,151 |   |
| Club accounts                                     |   |           | 259       |   |              |   | 259 |   |   |   | 137 |   |   |   | 137 |   |
| FHLB advances                                     |   |           | 68,000    |   |              |   | 69,989 |   |   |   | 71,000 |   |   |   | 72,779 |   |
| Repurchase agreement borrowings                   |   |           | 21,000    |   |              |   | 20,916 |   |   |   | 21,000 |   |   |   | 20,939 |   |
| Mortgagors’ escrow accounts                 |   |           | 6,541     |   |              |   | 6,541 |   |   |   | 9,717 |   |   |   | 9,717 |   |
| Repurchase liabilities                            |   |           | 70,209    |   |              |   | 70,201 |   |   |   | 84,029 |   |   |   | 84,029 |   |
|                                              |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| On-balance sheet derivative financial instruments |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Forward loan sales commitments:                   |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Assets                                            |   |           | 6         |   |              |   | 6 |   |   |   | - |   |   |   | - |   |
| Liabilities                                       |   |           | -         |   |              |   | - |   |   |   | - |   |   |   | - |   |
| Interest rate swap derivative liability:          |   |           |      |   |              |   |   |   |   |   |   |   |   |
| Assets                                            |   |           | 2,030     |   |              |   | 2,030 |   |   |   | 1,771 |   |   |   | 1,771 |   |
| Liabilities                                       |   |           | 2,030     |   |              |   | 2,030 |   |   |   | 1,771 |   |   |   | 1,771 |   |
| Derivative loan commitments                       |   |           |      |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Assets                                            |   |           | -         |   |              |   | - |   |   |   | - |   |   |   | - |   |
| Liabilities                                       |   |           | 57        |   |              |   | 57 |   |   |   | - |   |   |   | - |   |

----

| First Connecticut Bancorp, Inc.Notes to Consolidated Financial Statements (Unaudited) |
|---------------------------------------------------------------------------------------|
|                                                                                  |

| 11. | Regulatory Matters |
|-----|--------------------|

|                                     |   | Actual |    |   | Minimum Requiredfor CapitalAdequacyPurposes |   |   | To Be WellCapitalized UnderPrompt CorrectiveAction |   |
|------------------------------------------|--------|--------|---------|--------|---------------------------------------------|--------|--------|----------------------------------------------------|--------|
| (Dollars in thousands)                   |   | Amount |    |   | Ratio                                       |   |   | Amount                                             |   |   | Ratio |   |   | Amount |   |   | Ratio |   |
|                                     |   |   |    |   |                                        |   |   |                                               |   |   |   |   |   |   |   |   |   |   |
| Farmington Bank:                         |   |   |    |   |                                        |   |   |                                               |   |   |   |   |   |   |   |   |   |   |
|  At March 31, 2011 -                |   |   |    |   |                                        |   |   |                                               |   |   |   |   |   |   |   |   |   |   |
| Total Capital (to Risk Weighted Assets)  |   | $      | 111,881 |   |                                        |   | 10.38  | %                                                  |   | $ | 86,228 |   |   |   | 8.00 | % |   | $ | 107,785 |   |   |   | 10.00 | % |
| Tier I Capital (to Risk Weighted Assets) |   |   | 98,312  |   |                                        |   | 9.12   |                                               |   |   | 43,119 |   |   |   | 4.00 |   |   |   | 64,679 |   |   |   | 6.00 |   |
| Tier I Capital (to Average Assets)       |   |   | 95,877  |   |                                        |   | 6.77   |                                               |   |   | 56,648 |   |   |   | 4.00 |   |   |   | 70,810 |   |   |   | 5.00 |   |
|  At December 31, 2010 -             |   |   |    |   |                                        |   |   |                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Capital (to Risk Weighted Assets)  |   | $      | 110,772 |   |                                        |   | 10.27  | %                                                  |   | $ | 86,309 |   |   |   | 8.00 | % |   | $ | 107,886 |   |   |   | 10.00 | % |
| Tier I Capital (to Risk Weighted Assets) |   |   | 97,194  |   |                                        |   | 9.01   |                                               |   |   | 43,155 |   |   |   | 4.00 |   |   |   | 64,732 |   |   |   | 6.00 |   |
| Tier I Capital (to Average Assets)       |   |   | 97,194  |   |                                        |   | 6.47   |                                               |   |   | 60,078 |   |   |   | 4.00 |   |   |   | 75,097 |   |   |   | 5.00 |   |
|  First Connecticut Bancorp, Inc.:   |   |   |    |   |                                        |   |   |                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  At March 31, 2011 -                |   |   |    |   |                                        |   |   |                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Capital (to Risk Weighted Assets)  |   | $      | 111,881 |   |                                        |   | 10.38  | %                                                  |   | $ | 86,228 |   |   |   | 8.00 | % |   | $ | 107,785 |   |   |   | 10.00 | % |
| Tier I Capital (to Risk Weighted Assets) |   |   | 98,412  |   |                                        |   | 9.13   |                                               |   |   | 43,116 |   |   |   | 4.00 |   |   |   | 64,674 |   |   |   | 6.00 |   |
| Tier I Capital (to Average Assets)       |   |   | 95,977  |   |                                        |   | 6.77   |                                               |   |   | 56,707 |   |   |   | 4.00 |   |   |   | 70,884 |   |   |   | 5.00 |   |
|  At December 31, 2010 -             |   |   |    |   |                                        |   |   |                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Capital (to Risk Weighted Assets)  |   | $      | 110,872 |   |                                        |   | 10.28  | %                                                  |   | $ | 86,309 |   |   |   | 8.00 | % |   | $ | 107,886 |   |   |   | 10.00 | % |
| Tier I Capital (to Risk Weighted Assets) |   |   | 97,294  |   |                                        |   | 9.02   |                                               |   |   | 43,155 |   |   |   | 4.00 |   |   |   | 64,732 |   |   |   | 6.00 |   |
| Tier I Capital (to Average Assets)       |   |   | 97,294  |   |                                        |   | 6.48   |                                               |   |   | 60,097 |   |   |   | 4.00 |   |   |   | 75,121 |   |   |   | 5.00 |   |

----

| First Connecticut Bancorp, Inc.Notes to Consolidated Financial Statements (Unaudited) |
|---------------------------------------------------------------------------------------|
|                                                                                  |

| 12. | Other Comprehensive Income |
|-----|----------------------------|

|   |                                                                        |   | Three Months EndedMarch 31, |   |
|--------|-----------------------------------------------------------------------------|--------|-----------------------------|--------|
|   |                                                                        |   | 2011                        |   |   | 2010 |   |
|   | (Dollars in thousands)                                                      |   |                        |   |   |   |   |
|   | Net income                                                                  |   | $                           | 1,016  |   |   | $ | 1,903 |   |
|   | Other comprehensive (loss) income, before tax                               |   |                        |   |   |   |   |   |   |
|   | Unrealized (losses) gains on securities:                                    |   |                        |   |   |   |   |   |   |
|   | Unrealized holding losses arising during the period                    |   |                        | (102   | ) |   |   | (42 | ) |
|   | Less: reclassification adjustment for gains (losses) included in net income |   |                        | -      |   |   |   | - |   |
|   | Net change in unrealized losses                                             |   |                        | (102   | ) |   |   | (42 | ) |
|   | Change related to employee benefit plans                                    |   |                        | 54     |   |   |   | 15 |   |
|   | Other comprehensive loss, before tax                                        |   |                        | (48    | ) |   |   | (27 | ) |
|   | Income tax expense                                                          |   |                        | (16    | ) |   |   | (9 | ) |
|   | Other comprehensive loss, net of tax                                        |   |                        | (32    | ) |   |   | (18 | ) |
|   |                                                                        |   |                        |   |   |   |   |   |   |
|   | Comprehensive income                                                        |   | $                           | 984    |   |   | $ | 1,885 |   |

| 13. | Legal Actions |
|-----|---------------|

----

|   | ● | statements of our goals, intentions and expectations; |
|--------|---------|-------------------------------------------------------|

|   | ● | statements regarding our business plans, prospects, growth and operating strategies; |
|--------|---------|--------------------------------------------------------------------------------------|

|   | ● | statements regarding the asset quality of our loan and investment portfolios; and |
|--------|---------|-----------------------------------------------------------------------------------|

|   | ● | estimates of our risks and future costs and benefits. |
|--------|---------|-------------------------------------------------------|

|   | ● | Local, regional and national business or economic conditions may differ from those expected. |
|--------|---------|----------------------------------------------------------------------------------------------|

|   | ● | The effects of and changes in trade, monetary and fiscal policies and laws, including the U.S. Federal Reserve Board’s interest rate policies, may adversely affect our business. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | The ability to increase market share and control expenses may be more difficult than anticipated. |
|--------|---------|---------------------------------------------------------------------------------------------------|

|   | ● | Changes in laws and regulatory requirements (including those concerning taxes, banking, securities and insurance) may adversely affect us or our business. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Changes in accounting policies and practices, as may be adopted by regulatory agencies, the Public Company Accounting Oversight Board or the Financial Accounting Standards Board, may affect expected financial reporting. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Future changes in interest rates may reduce our profits which could have a negative impact on the value of our stock. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------|

|   | ● | We are subject to lending risk and could incur losses in our loan portfolio despite our underwriting practices. Changes in real estate values could also increase our lending risk. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Changes in demand for loan products, financial products and deposit flow could impact our financial performance. |
|--------|---------|------------------------------------------------------------------------------------------------------------------|

|   | ● | Strong competition within our market area may limit our growth and profitability. |
|--------|---------|-----------------------------------------------------------------------------------|

|   | ● | We may not manage the risks involved in the foregoing as well as anticipated. |
|--------|---------|-------------------------------------------------------------------------------|

|   | ● | If our allowance for loan losses is not sufficient to cover actual loan losses, our earnings could decrease. |
|--------|---------|--------------------------------------------------------------------------------------------------------------|

----

|   | ● | Our stock value may be negatively affected by federal regulations and articles of incorporation provisions restricting takeovers. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Implementation of stock benefit plans will increase our costs, which will reduce our income. |
|--------|---------|----------------------------------------------------------------------------------------------|

|   | ● | The Dodd-Frank Act was signed into law on July 21, 2010 and is expected to result in dramatic regulatory changes that will affect the industry in general, and impact our competitive position in ways that can’t be predicted at this time. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | The Emergency Economic Stabilization Act (“EESA”) of 2008 has and may continue to have a significant impact on the banking industry. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | maintaining a strong capital position in excess of the well-capitalized standards set by our banking regulators to support our current operations and future growth; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | increasing our focus on commercial lending and continuing to expand commercial banking operations; |
|--------|---------|----------------------------------------------------------------------------------------------------|

|   | ● | continuing to focus on consumer and residential lending; |
|--------|---------|----------------------------------------------------------|

|   | ● | maintaining asset quality and prudent lending standards; |
|--------|---------|----------------------------------------------------------|

|   | ● | expanding our existing products and services and developing new products and services to meet the changing needs of consumers and businesses in our market area; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | continuing expansion through de novo branching with a current goal of adding two to three de novo branches each year for so long as the deposit and loan generating environment continues to be favorable; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | taking advantage of acquisition opportunities that are consistent with our strategic growth plans; and |
|--------|---------|--------------------------------------------------------------------------------------------------------|

|   | ● | continuing our efforts to control non-interest expenses. |
|--------|---------|----------------------------------------------------------|

----

----

----

----

----

----

----

----

|                                                                    |   | Three Months Ended March 31, |      |
|-------------------------------------------------------------------------|--------|------------------------------|-----------|
|                                                                    |   | 2011                         |      |   | 2010 |   |
|                                                                    |   | Average Balance              |      |   | InterestandDividends |   |   | Yield/Cost |   |   | Average Balance |   |   | Interest and Dividends |   |   | Yield/Cost |   |
|                                                                    |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-earning assets:                                                |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans receivable                                                        |   | $                            | 1,163,411 |   |   | $ | 14,160 |   |   |   | 4.94 | % |   | $ | 1,041,030 |   |   | $ | 13,570 |   |   |   | 5.29 | % |
| Securities                                                              |   |                         | 160,924   |   |   |   | 548 |   |   |   | 1.38 | % |   |   | 131,569 |   |   |   | 1,469 |   |   |   | 4.53 | % |
| Federal Home Loan Bank of Boston stock                                  |   |                         | 7,449     |   |   |   | 6 |   |   |   | 0.33 | % |   |   | 7,449 |   |   |   | - |   |   |   | 0.00 | % |
| Fed Funds and other earning assets                                      |   |                         | 33,731    |   |   |   | 17 |   |   |   | 0.20 | % |   |   | 18,902 |   |   |   | 10 |   |   |   | 0.21 | % |
| Total interest-earning assets                                           |   |                         | 1,365,515 |   |   |   | 14,731 |   |   |   | 4.38 | % |   |   | 1,198,950 |   |   |   | 15,049 |   |   |   | 5.09 | % |
| Noninterest-earning assets                                              |   |                         | 87,224    |   |   |   |   |   |   |   |   |   |   |   | 74,173 |   |   |   |   |   |   |   |   |   |
| Total assets                                                            |   | $                            | 1,452,739 |   |   |   |   |   |   |   |   |   |   | $ | 1,273,123 |   |   |   |   |   |   |   |   |   |
|                                                                    |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                           |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NOW accounts                                                            |   | $                            | 239,925   |   |   | $ | 183 |   |   |   | 0.31 | % |   | $ | 178,843 |   |   | $ | 221 |   |   |   | 0.50 | % |
| Money market                                                            |   |                         | 179,600   |   |   |   | 412 |   |   |   | 0.93 | % |   |   | 146,487 |   |   |   | 311 |   |   |   | 0.86 | % |
| Savings accounts                                                        |   |                         | 140,055   |   |   |   | 69 |   |   |   | 0.20 | % |   |   | 126,408 |   |   |   | 60 |   |   |   | 0.19 | % |
| Certificates of deposit                                                 |   |                         | 441,597   |   |   |   | 1,288 |   |   |   | 1.18 | % |   |   | 435,380 |   |   |   | 1,547 |   |   |   | 1.44 | % |
| Total interest-bearing deposits                                         |   |                         | 1,001,177 |   |   |   | 1,952 |   |   |   | 0.79 | % |   |   | 887,118 |   |   |   | 2,139 |   |   |   | 0.98 | % |
| Advances from the Federal Home Loan Bank                                |   |                         | 68,100    |   |   |   | 525 |   |   |   | 3.13 | % |   |   | 67,742 |   |   |   | 546 |   |   |   | 3.27 | % |
| Repurchase Agreement Borrowing                                          |   |                         | 21,000    |   |   |   | 179 |   |   |   | 3.46 | % |   |   | 21,000 |   |   |   | 183 |   |   |   | 3.53 | % |
| Repurchase liabilities                                                  |   |                         | 82,122    |   |   |   | 124 |   |   |   | 0.61 | % |   |   | 54,751 |   |   |   | 97 |   |   |   | 0.72 | % |
| Total interest-bearing liabilities                                      |   |                         | 1,172,399 |   |   |   | 2,780 |   |   |   | 0.96 | % |   |   | 1,030,611 |   |   |   | 2,965 |   |   |   | 1.17 | % |
| Noninterest-bearing deposits                                            |   |                         | 155,790   |   |   |   |   |   |   |   |   |   |   |   | 122,383 |   |   |   |   |   |   |   |   |   |
| Other noninterest-bearing liabilities                                   |   |                         | 27,515    |   |   |   |   |   |   |   |   |   |   |   | 24,291 |   |   |   |   |   |   |   |   |   |
| Total liabilities                                                       |   |                         | 1,355,704 |   |   |   |   |   |   |   |   |   |   |   | 1,177,285 |   |   |   |   |   |   |   |   |   |
| Capital                                                                 |   |                         | 97,035    |   |   |   |   |   |   |   |   |   |   |   | 95,838 |   |   |   |   |   |   |   |   |   |
| Total liabilities and capital                                           |   | $                            | 1,452,739 |   |   |   |   |   |   |   |   |   |   | $ | 1,273,123 |   |   |   |   |   |   |   |   |   |
|                                                                    |   |                         |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                                                     |   |                         |      |   |   | $ | 11,951 |   |   |   |   |   |   |   |   |   |   | $ | 12,084 |   |   |   |   |   |
| Net interest rate spread (1)                                            |   |                         |      |   |   |   |   |   |   |   | 3.42 | % |   |   |   |   |   |   |   |   |   |   | 3.92 | % |
| Net interest-earning assets (2)                                         |   | $                            | 193,116   |   |   |   |   |   |   |   |   |   |   | $ | 168,339 |   |   |   |   |   |   |   |   |   |
| Net interest margin (3)                                                 |   |                         |      |   |   |   |   |   |   |   | 3.55 | % |   |   |   |   |   |   |   |   |   |   | 4.09 | % |
| Average interest-earning assets to average interest-bearing liabilities |   |                         |      |   |   |   | 116.47 | % |   |   |   |   |   |   |   |   |   |   | 116.33 | % |   |   |   |   |

----

|   | (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.                                                          |

----

|                                             |   | Three Months Ended March 31, 2011 Compared toThree Months Ended March 31, 2010 |   |
|--------------------------------------------------|--------|--------------------------------------------------------------------------------|--------|
|                                             |   | Volume                                                                         |   |   | Rate |   |   | Total Increase(Decrease) |   |
| Interest-earning assets:                         |   |                                                                           |   |   |   |   |   |   |   |
| Loans receivable, net                            |   | $                                                                              | 1,322  |   |   | $ | (732 | ) |   | $ | 590 |   |
| Investment securities                            |   |                                                                           | 428    |   |   |   | (1,349 | ) |   |   | (921 | ) |
| Federal Home Loan Bank of Boston stock           |   |                                                                           | -      |   |   |   | 6 |   |   |   | 6 |   |
| Fed Funds and other interest-earning assets      |   |                                                                           | 7      |   |   |   | - |   |   |   | 7 |   |
| Total interest-earning assets                    |   |                                                                           | 1,757  |   |   |   | (2,075 | ) |   |   | (318 | ) |
|                                             |   |                                                                           |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                    |   |                                                                           |   |   |   |   |   |   |   |   |   |   |
| NOW accounts                                     |   |                                                                           | (1,902 | ) |   |   | 1,864 |   |   |   | (38 | ) |
| Money market                                     |   |                                                                           | 75     |   |   |   | 26 |   |   |   | 101 |   |
| Savings accounts                                 |   |                                                                           | 9      |   |   |   | - |   |   |   | 9 |   |
| Certificates of deposit                          |   |                                                                           | 23     |   |   |   | (282 | ) |   |   | (259 | ) |
| Total interest-bearing deposits                  |   |                                                                           | (1,795 | ) |   |   | 1,608 |   |   |   | (187 | ) |
| Advances from the Federal Home Loan Bank         |   |                                                                           | 3      |   |   |   | (24 | ) |   |   | (21 | ) |
| Repurchase agreement borrowing                   |   |                                                                           | -      |   |   |   | (4 | ) |   |   | (4 | ) |
| Repurchase liabilities                           |   |                                                                           | 55     |   |   |   | (28 | ) |   |   | 27 |   |
| Total interest-bearing liabilities               |   |                                                                           | (1,737 | ) |   |   | 1,552 |   |   |   | (185 | ) |
|  Increase (decrease) in net interest income |   | $                                                                              | 3,494  |   |   | $ | (3,627 | ) |   | $ | (133 | ) |

----

|                      |   | For the Three Months Ended March 31, |   |
|---------------------------|--------|--------------------------------------|--------|
|                      |   | 2011                                 |   |   | 2010 |   |   | $ Change |   |   | % Change |   |
| (Dollars in thousands)    |   |                                 |   |   |   |   |   |   |   |   |   |   |
| Net interest income       |   | $                                    | 11,951 |   |   | $ | 12,084 |   |   | $ | (133 | ) |   |   | (1.1 | )% |
| Provision for loan losses |   |                                 | 300    |   |   |   | 600 |   |   |   | (300 | ) |   |   | (50.0 | )% |
| Non-interest income       |   |                                 | 1,281  |   |   |   | 987 |   |   |   | 294 |   |   |   | 29.8 | % |
| Non-interest expense      |   |                                 | 11,661 |   |   |   | 9,651 |   |   |   | 2,010 |   |   |   | 20.8 | % |
| Income before taxes       |   |                                 | 1,271  |   |   |   | 2,820 |   |   |   | (1,549 | ) |   |   | (54.9 | )% |
| Income tax provision      |   |                                 | 255    |   |   |   | 917 |   |   |   | (662 | ) |   |   | (72.2 | )% |
| Net income                |   | $                                    | 1,016  |   |   | $ | 1,903 |   |   | $ | (887 | ) |   |   | (46.6 | )% |

----

----

|                               |   | Three Months Ended March 31, |   |
|------------------------------------|--------|------------------------------|--------|
|                               |   | 2011                         |   |   | 2010 |   |   | $ Change |   |   | % Change |   |
| (Dollars in thousands)             |   |                         |   |   |   |   |   |   |   |   |   |   |
| Fees for customer services         |   | $                            | 787    |   |   | $ | 674 |   |   | $ | 113 |   |   |   | 16.8 | % |
| Net gain on loans sold             |   |                         | 146    |   |   |   | 24 |   |   |   | 122 |   |   |   | 508.3 | % |
| Brokerage and insurance fee income |   |                         | 124    |   |   |   | 107 |   |   |   | 17 |   |   |   | 15.9 | % |
| Bank owned life insurance income   |   |                         | 174    |   |   |   | 114 |   |   |   | 60 |   |   |   | 52.6 | % |
| Other                              |   |                         | 50     |   |   |   | 68 |   |   |   | (18 | ) |   |   | (26.5 | )% |
| Total noninterest income           |   | $                            | 1,281  |   |   | $ | 987 |   |   | $ | 294 |   |   |   | 29.8 | % |

|                            |   | Three Months Ended March 31, |   |
|---------------------------------|--------|------------------------------|--------|
|                            |   | 2011                         |   |   | 2010 |   |   | $ Change |   |   | % Change |   |
| (Dollars in thousands)          |   |                         |   |   |   |   |   |   |   |   |   |   |
| Salaries and employee benefits  |   | $                            | 6,568  |   |   | $ | 5,285 |   |   | $ | 1,283 |   |   |   | 24.3 | % |
| Occupancy expense               |   |                         | 1,237  |   |   |   | 1,039 |   |   |   | 198 |   |   |   | 19.1 | % |
| Furniture and equipment expense |   |                         | 975    |   |   |   | 900 |   |   |   | 75 |   |   |   | 8.3 | % |
| FDIC assessment                 |   |                         | 541    |   |   |   | 408 |   |   |   | 133 |   |   |   | 32.6 | % |
| Marketing                       |   |                         | 473    |   |   |   | 489 |   |   |   | (16 | ) |   |   | (3.3 | )% |
| Other operating expenses        |   |                         | 1,867  |   |   |   | 1,530 |   |   |   | 337 |   |   |   | 22.0 | % |
| Total noninterest expense       |   | $                            | 11,661 |   |   | $ | 9,651 |   |   | $ | 2,010 |   |   |   | 20.8 | % |

----

----

----

|                     | Percentage Decrease inEstimated Net Interest Income Over 12 Months |
|--------------------------|--------------------------------------------------------------------|
|                     |                                                               |   |   |   |
| 300 basis point increase |                                                               |   | (1.9)%  |   |
| 400 basis point increase |                                                               |   | (4.6)%  |   |
| 100 basis point decrease |                                                               |   | (0.8)%  |   |

| Item 4. | Controls and Procedures |
|--------------|-------------------------|

| Item 1. | Legal Proceedings |
|--------------|-------------------|

| Item 1A. | Risk Factors |
|---------------|--------------|

| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
|--------------|-------------------------------------------------------------|

| Item 3. | Defaults Upon Senior Securities |
|--------------|---------------------------------|

| Item 4. | [Removed and Reserved] |
|--------------|------------------------|

| Item 5. | Other Information |
|--------------|-------------------|

----

| Item 6. | Exhibits |
|--------------|----------|

|   | 3.1 | Amended and Restated Certificate of Incorporation of First Connecticut Bancorp, Inc.* |
|--------|-----|---------------------------------------------------------------------------------------|

|   | 3.2 | Bylaws of First Connecticut Bancorp, Inc.* |
|--------|-----|--------------------------------------------|

|   | 4.1 | Form of Common Stock Certificate of First Connecticut Bancorp, Inc.* |
|--------|-----|----------------------------------------------------------------------|

|   | 10.1 | Phantom Stock Plan of Farmington Bank* |
|--------|------|----------------------------------------|

|   | 10.2 | Supplemental Executive Retirement Plan of Farmington Bank* |
|--------|------|------------------------------------------------------------|

|   | 10.3 | Voluntary Deferred Compensation Plan for Directors and Key Employees* |
|--------|------|-----------------------------------------------------------------------|

|   | 10.4 | First Amendment to Voluntary Deferred Compensation Plan for Directors and Key Employees* |
|--------|------|------------------------------------------------------------------------------------------|

|   | 10.5 | Voluntary Deferred Compensation Plan for Key Employees* |
|--------|------|---------------------------------------------------------|

|   | 10.6 | Life Insurance Premium Reimbursement Agreement between Farmington Bank and John J. Patrick, Jr.* |
|--------|------|--------------------------------------------------------------------------------------------------|

|   | 10.7 | Life Insurance Premium Reimbursement Agreement between Farmington Bank and Gregory A. White* |
|--------|------|----------------------------------------------------------------------------------------------|

|   | 10.8 | Farmington Savings Bank Defined Benefit Employees’ Pension Plan, as amended* |
|--------|------|------------------------------------------------------------------------------------|

|   | 10.9 | Annual Incentive Compensation Plan* |
|--------|------|-------------------------------------|

|   | 10.10 | Supplemental Retirement Plan Participation Agreement between John J. Patrick, Jr. and Farmington Bank* |
|--------|-------|--------------------------------------------------------------------------------------------------------|

|   | 10.11 | Supplemental Retirement Plan Participation Agreement between Michael T. Schweighoffer and Farmington Bank* |
|--------|-------|------------------------------------------------------------------------------------------------------------|

|   | 10.12 | Supplemental Retirement Plan Participation Agreement between Gregory A. White and Farmington Bank* |
|--------|-------|----------------------------------------------------------------------------------------------------|

|   | 31.1 | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, signed by the Company’s Chief Executive Officer |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | 31.2 | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, signed by the Company’s Chief Financial Officer |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 | Written Statement pursuant to 18 U.S.C. § 1350, as created by section 906 of the Sarbanes-Oxley Act of 2002, signed by the Company’s Chief Executive Officer |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.2 | Written Statement pursuant to 18 U.S.C. § 1350, as created by section 906 of the Sarbanes-Oxley Act of 2002, signed by the Company’s Chief Financial Officer |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                          |   | FIRST CONNECTICUT BANCORP, INC.                        |
|-------------------------------|--------|--------------------------------------------------------|
|                          |   |
| Date: May 16, 2011            |   | /s/ John P. Patrick                                    |
|                          |   | John P. Patrick, Jr.                                   |
|                          |   | Chairman, President and Chief Executive Officer        |
|                          |   |
| Date: May  16, 2011 |   | /s/ Gregory A. White                                   |
|                          |   | Gregory A. White                                       |
|                          |   | Executive Vice President and Chief Financial Officer   |
|                          |   |
| Date: May  16, 2011 |   | /s/ Kimberly Rozanski Ruppert                          |
|                          |   | Kimberly Rozanski Ruppert                              |
|                          |   | Senior Vice President and Principal Accounting Officer |