A secondary data analysis study was conducted to determine if newly graduated nurses benefited from participation in a 1-year University Health System Consortium/American Association of Colleges of Nursing (UHC/AACN) nurse residency program in a community hospital. The sample included data collected from 121 newly graduated nurses who completed the Casey-Fink Graduate survey at the start of program, 6 months into the program, and again at the end of the year-long program. Data included in the study span 3 years from 2012 to 2015. Participation in a community-based nurse residency provided several benefits to newly graduated nurses. There were statistically significant improvements in participants’ level of comfort with communication skills, leadership capacity, ability to organize and prioritize care, and technical skills performance. Most of the participants reported decreased levels of stress and high levels of perceived support. Study participants’ professional satisfaction scores did not reach statistical significance but did improve slightly during the program. Turnover of participants in the study site program decreased from 37% prior to program implementation to less than 4% in 2014. Potential cost savings of the nurse residency program for the study site added up to approximately $5 million. The results of this study contribute to the limited number of studies on this topic.