**UNITED      STATES SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C.  20549**

----

**FORM      10-Q**

| **(Mark                  One)** |                                                                                                                                            |   |
|---------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                            |                                                                                                                                            |   |
| **ý**                      | **Quarterly                  report pursuant to Section 13 or 15(d) of the Securities Exchange                  Act of                  1934**  |   |
|                            |                                                                                                                                            |   |
|                            | **For                  the quarterly period ended March 31, 2007** **OR**                                                                  |   |
|                            |                                                                                                                                            |   |
| **o**                           | **Transition                  report pursuant to section 13 or 15(d) of the Securities Exchange                  Act of                  1934** |   |

**For        the transition period from ______________ to        _____________**

**Commission      File Number 000-51369**

**United      Financial Bancorp, Inc.**

| **                                   Federal                   ** | **                         83-0395247         ** |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------|
| (State                or other jurisdiction of                                                                                                                                                                                                                  | (I.R.S.                Employer                                                                                                            |
| incorporation                or organization)                                                                                                                                                                                                                   | Identification                Number)                                                                                                      |

**95      Elm Street, West Springfield, Massachusetts 01089**

**(413)      787-1700**

| Large                accelerated filer  o | Accelerated                filer  ý |    Non-accelerated  filer  o |
|-----------------------------------------------------|----------------------------------------------------|-----------------------------------------------------------------|
|                                                |                                               |                                                            |

**Common      stock, $0.01 par value**

**17,071,853      shares outstanding as of May 3, 2007**

----

**United      Financial Bancorp, Inc.**

|                        |                                     |                                                                                                         | Page   |
|-----------------------------|------------------------------------------|--------------------------------------------------------------------------------------------------------------|--------|
|                        |                                     |                                                                                                         |   |
| **PART                I.**  | **FINANCIAL                INFORMATION** |                                                                                                         |
|                        |                                     |                                                                                                         |   |
|                        | Item                1.              | Consolidated                Financial Statements                (unaudited)                                  | 1      |
|                        |                                     |                                                                                                         |   |
|                        |                                     | Consolidated                Statements of Condition                                                          |   |
|                        |                                     | March                31, 2007 and December 31, 2006                                                          | 1      |
|                        |                                     |                                                                                                         |   |
|                        |                                     | Consolidated                Statements of Earnings                                                           |   |
|                        |                                     | Three                Months ended March 31, 2007 and 2006                                                    | 2      |
|                        |                                     |                                                                                                         |   |
|                        |                                     | Consolidated                Statements of Stockholders’ Equity and                Comprehensive Income |   |
|                        |                                     | Three                Months ended March 31, 2007 and 2006                                                    | 3      |
|                        |                                     |                                                                                                         |   |
|                        |                                     | Consolidated                Statements of Cash Flows                                                         |   |
|                        |                                     | Three                Months ended March 31, 2007 and 2006                                                    | 4      |
|                        |                                     |                                                                                                         |   |
|                        |                                     | Notes                to Consolidated Financial Statements                                                    | 5      |
|                        |                                     |                                                                                                         |   |
|                        | Item                2.              | Management's                Discussion and Analysis of Financial                Condition                    |   |
|                        |                                     | and                Results of Operations                                                                     | 9      |
|                        |                                     |                                                                                                         |   |
|                        | Item                3.              | Quantitative                and Qualitative Disclosures About Market                Risk                     | 16     |
|                        |                                     |                                                                                                         |   |
|                        | Item                4.                   | Controls                and Procedures                                                                       | 16     |
|                        |                                     |                                                                                                         |   |
| **PART                II.** | **OTHER                INFORMATION**     | 17                                                                                                           |
|                        |                                     |                                                                                                         |   |
|                        | Item                1.                   | Legal                Proceedings                                                                             | 17     |
|                        |                                     |                                                                                                         |   |
|                        | Item                1A.                  | Risk                Factors                                                                                  | 17     |
|                        |                                     |                                                                                                         |   |
|                        | Item                2.                   | Unregistered                Sales of Equity Securities and Use of                Proceeds                    | 17     |
|                        |                                     |                                                                                                         |   |
|                        | Item                3.                   | Defaults                Upon Senior Securities                                                               | 17     |
|                        |                                     |                                                                                                         |   |
|                        | Item                4.                   | Submission                of Matters to a Vote of Security                Holders                            | 18     |
|                        |                                     |                                                                                                         |   |
|                        | Item                5.                   | Other                Information                                                                             | 18     |
|                        |                                     |                                                                                                         |   |
|                        | Item                6.                   | Exhibits                                                                                                     | 18     |
|                        |                                     |                                                                                                         |   |
| **SIGNATURES**              |                                     | 19                                                                                                           |

----

*Index*

| Exhibit                3.3  | Bylaws                of United Financial Bancorp,                Inc.                                                                 | 20     |
|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------|--------|
|                        |                                                                                                                                   |   |
|                        |                                                                                                                                   |   |
| Exhibit                31.1 | Certification                of Chief Executive Officer Pursuant to                Section 302 of the Sarbanes-Oxley Act of 2002       | 31     |
|                        |                                                                                                                                   |   |
| Exhibit                31.2 | Certification                of Chief Financial Officer Pursuant to                Section 302 of the Sarbanes-Oxley Act of 2002       | 32     |
|                        |                                                                                                                                   |   |
| Exhibit                32.1 | Statement                of Chief Executive Officer Furnished Pursuant                to Section 906 of the Sarbanes-Oxley Act of 2002 | 33     |
|                        |                                                                                                                                   |   |
| Exhibit                32.2 | Statement                of Chief Financial Officer Furnished Pursuant                to Section 906 of the Sarbanes-Oxley Act of 2002 | 34     |

----

*Index*

| **PART                I.** | **FINANCIAL                INFORMATION** |
|----------------------------|------------------------------------------|

| **ITEM                1.** | **Consolidated                Financial Statements** |
|----------------------------|------------------------------------------------------|

**UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY**

----

|                                                                                                                    |   | **March                  31,** |      |   | **December                  31,** |   |
|-------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|-----------|--------|-----------------------------------|--------|
|                                                                                                                    |   | **2007**                       |      |   | **2006**                          |   |
|                                                                                                                    |   | **(unaudited)**                |      |   |                              |   |
| **ASSETS**                                                                                                              |   |                           |      |   |                              |   |
|                                                                                                                    |   |                           |      |   |                              |   |
| Cash                  and due from banks                                                                                |   | $                              | 17,900    |   |                              | $      | 15,459 |   |
| Interest-bearing                  deposits                                                                              |   |                           | 24,144    |   |                              |   | 9,960 |   |
|      Total                  cash and cash equivalents                                          |   |                           | 42,044    |   |                              |   | 25,419 |   |
|                                                                                                                    |   |                           |      |   |                              |   |   |   |
| Securities                  available for sale, at fair value                                                           |   |                           | 171,474   |   |                              |   | 190,237 |   |
| Securities                  to be held to maturity, at amortized cost  (fair value $3,901                  at |   |                           |      |   |                              |   |   |   |
|         March                  31, 2007 and $3,227 at December 31, 2006)        |   |                           | 3,913     |   |                              |   | 3,241 |   |
| Loans,                  net of allowance for loan losses of  $7,426 at March 31, 2007                  and    |   |                           |      |   |                              |   |   |   |
|         $7,218                  at December 31, 2006                            |   |                           | 779,905   |   |                              |   | 756,180 |   |
| Other                  real estate owned                                                                                |   |                           | -         |   |                              |   | 562 |   |
| Accrued                  interest receivable                                                                            |   |                           | 4,430     |   |                              |   | 4,320 |   |
| Stock                  in the Federal Home Loan Bank of Boston                                                          |   |                           | 9,885     |   |                              |   | 9,274 |   |
| Banking                  premises and equipment, net                                                                    |   |                           | 10,673    |   |                              |   | 8,821 |   |
| Bank-owned                  life insurance                                                                              |   |                           | 6,473     |   |                              |   | 6,304 |   |
| Other                  assets                                                                                           |   |                           | 4,901     |   |                              |   | 5,075 |   |
|                                                                                                                    |   |                           |      |   |                              |   |   |   |
|      TOTAL                  ASSETS                                                             |   | $                              | 1,033,698 |   |                              | $      | 1,009,433 |   |
|                                                                                                                    |   |                           |      |   |                              |   |   |   |
| **LIABILITIES                  AND STOCKHOLDERS’ EQUITY**                                                         |   |                           |      |   |                              |   |   |   |
|                                                                                                                    |   |                           |      |   |                              |   |   |   |
| Liabilities:                                                                                                            |   |                           |      |   |                              |   |   |   |
| Deposits:                                                                                                               |   |                           |      |   |                              |   |   |   |
| Interest-bearing                                                                                                        |   | $                              | 614,426   |   |                              | $      | 588,496 |   |
| Non-interest-bearing                                                                                                    |   |                           | 102,513   |   |                              |   | 97,190 |   |
|      Total                  deposits                                                           |   |                           | 716,939   |   |                              |   | 685,686 |   |
| Federal                  Home Loan Bank of Boston advances                                                              |   |                           | 162,171   |   |                              |   | 169,806 |   |
| Repurchase                  agreements                                                                                  |   |                           | 8,825     |   |                              |   | 10,425 |   |
| Escrow                  funds held for borrowers                                                                        |   |                           | 1,537     |   |                              |   | 1,121 |   |
| Accrued                  expenses and other liabilities                                                                 |   |                           | 5,741     |   |                              |   | 4,684 |   |
|      Total                  liabilities                                                        |   |                           | 895,213   |   |                              |   | 871,722 |   |
|                                                                                                                    |   |                           |      |   |                              |   |   |   |
| Stockholders’                  equity:                                                                            |   |                           |      |   |                              |   |   |   |
| Preferred                  stock, par value $0.01 per share, authorized 5,000,000                  shares;              |   |                           |      |   |                              |   |   |   |
|   none                  issued                                                                                |   |                           | -         |   |                              |   | - |   |
| Common                  stock, par value $0.01 per share, authorized 60,000,000                  shares;                |   |                           |      |   |                              |   |   |   |
|    17,205,995                  shares issued at March 31, 2007 and at December 31, 2006                  |   |                           | 172       |   |                              |   | 172 |   |
| Paid-in                  capital                                                                                        |   |                           | 76,197    |   |                              |   | 75,520 |   |
| Retained                  earnings                                                                                      |   |                           | 70,798    |   |                              |   | 70,406 |   |
| Unearned                  compensation                                                                                  |   |                           | (5,661    | )      |                              |   | (5,772 | ) |
| Treasury                  stock, at cost (109,861 shares at March 31, 2007 and 51,445                  shares           |   |                           |      |   |                              |
|                    at December 31, 2006)                                                                           |   |                           | (1,513    | )      |                              |   | (664 | ) |
| Accumulated                  other comprehensive loss, net of taxes                                                     |   |                           | (1,508    | )      |                              |   | (1,951 | ) |
|      Total                  stockholders’ equity                                         |   |                           | 138,485   |   |                              |   | 137,711 |   |
|                                                                                                                    |   |                           |      |   |                              |   |   |   |
|      TOTAL                  LIABILITIES AND STOCKHOLDERS’ EQUITY                         |   | $                              | 1,033,698 |   |                              | $      | 1,009,433 |   |
|                                                                                                                    |   |                           |      |   |                              |   |   |   |

----

*Index*

**UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY**

----

|                                                                              |   |                                    |       |   |     |   |
|-----------------------------------------------------------------------------------|--------|-----------------------------------------|------------|--------|----------|--------|
|                                                                              |   | **Three                  Months Ended** |       |
|                                                                              |   | **March                  31,**          |       |   |     |   |
|                                                                              |   | **2007**                                |       |   | **2006** |   |
| Interest                  and dividend income:                                    |   |                                    |       |   |     |   |
| Loans                                                                             |   | $                                       | 11,955     |   |     | $      | 9,600 |   |
| Investments                                                                       |   |                                    | 1,982      |   |     |   | 2,305 |   |
| Other                  interest-earning assets                                    |   |                                    | 375        |   |     |   | 242 |   |
|      Total                  interest and dividend income |   |                                    | 14,312     |   |     |   | 12,147 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Interest                  expense:                                                |   |                                    |       |   |     |   |   |   |
|                     Deposits                                            |   |                                    | 5,181      |   |     |   | 4,042 |   |
|                     Short-term borrowings                               |   |                                    | 1,098      |   |     |   | 576 |   |
|                     Long-term debt                                      |   |                                    | 1,077      |   |     |   | 621 |   |
|      Total                  interest expense             |   |                                    | 7,356      |   |     |   | 5,239 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Net                  interest income before provision for loan losses             |   |                                    | 6,956      |   |     |   | 6,908 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Provision                  for loan losses                                        |   |                                    | 284        |   |     |   | 162 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Net                  interest income after provision for loan losses              |   |                                    | 6,672      |   |     |   | 6,746 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Non-interest                  income:                                             |   |                                    |       |   |     |   |   |   |
| Fee                  income on depositors’ accounts                         |   |                                    | 1,038      |   |     |   | 946 |   |
| Gain                  on sale of securities                                       |   |                                    | 14         |   |     |   | - |   |
| Wealth                  management income                                         |   |                                    | 121        |   |     |   | 57 |   |
| Income                  from bank-owned life insurance                            |   |                                    | 35         |   |     |   | 81 |   |
| Other                  income                                                     |   |                                    | 190        |   |     |   | 174 |   |
|      Total                  non-interest income          |   |                                    | 1,398      |   |     |   | 1,258 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Non-interest                  expense:                                            |   |                                    |       |   |     |   |   |   |
| Salaries                  and benefits                                            |   |                                    | 3,838      |   |     |   | 3,028 |   |
| Occupancy                  expenses                                               |   |                                    | 491        |   |     |   | 403 |   |
| Marketing                  expenses                                               |   |                                    | 322        |   |     |   | 415 |   |
| Data                  processing expenses                                         |   |                                    | 642        |   |     |   | 632 |   |
| Professional                  fees                                                |   |                                    | 389        |   |     |   | 256 |   |
| Other                  expenses                                                   |   |                                    | 965        |   |     |   | 1,042 |   |
|      Total                  non-interest expense         |   |                                    | 6,647      |   |     |   | 5,776 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Income                  before income taxes                                       |   |                                    | 1,423      |   |     |   | 2,228 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Income                  tax expense                                               |   |                                    | 589        |   |     |   | 873 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Net                  income                                                       |   | $                                       | 834        |   |     | $      | 1,355 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Earnings                  per share:                                              |   |                                    |       |   |     |   |   |   |
|      Basic                                               |   | $                                       | 0.05       |   |     | $      | 0.08 |   |
|      Diluted                                             |   | $                                       | 0.05       |   |     | $      | 0.08 |   |
|                                                                              |   |                                    |       |   |     |   |   |   |
| Weighted                  average shares outstanding:                             |   |                                    |       |   |     |   |   |   |
|      Basic                                               |   |                                    | 16,273,732 |   |     |   | 16,600,767 |   |
|      Diluted                                             |   |                                    | 16,333,235 |   |     |   | 16,600,767 |   |

**.**

----

*Index*

**UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY**

----

|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   | **Accumulated**   |   |   |      |   |
|-----------------------------------------------------------------------------------------------------|--------|-----------------|------------|--------|------------|--------|--------|-------------|--------|--------|--------------|--------|--------|------------------|--------|--------|--------------|--------|--------|-------------------|--------|--------|-----------|--------|
|                                                                                                |   | **Common**      |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   | **Other**         |   |   |      |   |
|                                                                                                |   | **Shares**      |       |   | **Common** |   |   | **Paid-In** |   |   | **Retained** |   |   | **Unearned**     |   |   | **Treasury** |   |   | **Comprehensive** |   |   |      |   |
|                                                                                                |   | **Outstanding** |       |   | **Stock**  |   |   | **Capital** |   |   | **Earnings** |   |   | **Compensation** |   |   | **Stock**    |   |   | **Loss**          |   |   | **Total** |   |
|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |
| Balances                    at December 31, 2005                                                    |   |            | 17,205,995 |   |       | $      | 172    |        |   | $      | 78,446       |   |   | $                | 66,944 |   |         | $      | (6,092 | )                 |   | $      | -         |   |   | $ | (2,465 | ) |   | $ | 137,005 |   |
|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   |   |   |
| Net                    income                                                                       |   |            | -          |   |       |   | -      |        |   |   | -            |   |   |             | 1,355  |   |         |   | -      |              |   |   | -         |   |   |   | - |   |   |   | 1,355 |   |
| Net                    unrealized loss on securities available for sale                             |   |            | -          |   |       |   | -      |        |   |   | -            |   |   |             | -      |   |         |   | -      |              |   |   | -         |   |   |   | (791 | ) |   |   | (791 | ) |
|          Total                    comprehensive income |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   | 564 |   |
|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   |   |   |
| Cash                    dividends declared ($0.05 per share)                                        |   |            | -          |   |       |   | -      |        |   |   | -            |   |   |             | (371   | )      |         |   | -      |              |   |   | -         |   |   |   | - |   |   |   | (371 | ) |
| ESOP                    shares committed to be released                                             |   |            | -          |   |       |   | -      |        |   |   | 14           |   |   |             | -      |   |         |   | 80     |              |   |   | -         |   |   |   | - |   |   |   | 94 |   |
|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   |   |   |
| Balances                    at March 31, 2006                                                       |   |            | 17,205,995 |   |       | $      | 172    |        |   | $      | 78,460       |   |   | $                | 67,928 |   |         | $      | (6,012 | )                 |   | $      | -         |   |   | $ | (3,256 | ) |   | $ | 137,292 |   |
|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   |   |   |
|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   |   |   |
| Balances                    at December 31, 2006                                                    |   |            | 17,154,550 |   |       | $      | 172    |        |   | $      | 75,520       |   |   | $                | 70,406 |   |         | $      | (5,772 | )                 |   | $      | (664      | )      |   | $ | (1,951 | ) |   | $ | 137,711 |   |
|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   |   |   |
| Net                    income                                                                       |   |            | -          |   |       |   | -      |        |   |   | -            |   |   |             | 834    |   |         |   | -      |              |   |   | -         |   |   |   | - |   |   |   | 834 |   |
| Net                    unrealized gain on securities available for sale                             |   |            | -          |   |       |   | -      |        |   |   | -            |   |   |             | -      |   |         |   | -      |              |   |   | -         |   |   |   | 443 |   |   |   | 443 |   |
|          Total                    comprehensive income |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   | 1,277 |   |
|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   |   |   |
| Cash                    dividends declared ($0.06 per share)                                        |   |            | -          |   |       |   | -      |        |   |   | -            |   |   |             | (442   | )      |         |   | -      |              |   |   | -         |   |   |   | - |   |   |   | (442 | ) |
| Treasury                    stock purchases                                                         |   |            | (58,416    | )      |       |   | -      |        |   |   | -            |   |   |             | -      |   |         |   | -      |              |   |   | (849      | )      |   |   | - |   |   |   | (849 | ) |
| Stock-based                    compensation                                                         |   |            | -          |   |       |   | -      |        |   |   | 628          |   |   |             | -      |   |         |   | -      |              |   |   | -         |   |   |   | - |   |   |   | 628 |   |
| ESOP                    shares committed to be released                                             |   |            | -          |   |       |   | -      |        |   |   | 49           |   |   |             | -      |   |         |   | 111    |              |   |   | -         |   |   |   | - |   |   |   | 160 |   |
|                                                                                                |   |            |       |   |       |   |   |        |   |   |         |   |   |             |   |   |         |   |   |              |   |   |      |   |   |   |   |   |   |   |   |   |
| Balances                    at March 31, 2007                                                       |   |            | 17,096,134 |   |       | $      | 172    |        |   | $      | 76,197       |   |   | $                | 70,798 |   |         | $      | (5,661 | )                 |   | $      | (1,513    | )      |   | $ | (1,508 | ) |   | $ | 138,485 |   |

| The                  components of other comprehensive income and related tax effects                  are as                  follows: |   |
|-----------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                    |   |   |   |   |   |   |
|                                                                                                                                    |   | **Three                  Months Ended March 31,** |   |
|                                                                                                                                    |   | **2007** |   |   | **2006** |   |
|                                                                                                                                    |   |   |   |   |   |   |
| Change                  in unrealized holding gains (losses) on available for sale                  securities                          |   | $ | 749 |   |   | $ | (1,289 | ) |
| Reclassification                  adjustment for gains realized in income                                                               |   |   | (14 | ) |   |   | - |   |
| Net                  change in unrealized gains (losses)                                                                                |   |   | 735 |   |   |   | (1,289 | ) |
|                                                                                                                                    |   |   |   |   |   |   |   |   |
| Tax                  effect                                                                                                             |   |   | 292 |   |   |   | (498 | ) |
|                                                                                                                                    |   |   |   |   |   |   |   |   |
| Other                  comprehensive income (loss)                                                                                      |   | $ | 443 |   |   | $ | (791 | ) |

**.**

----

*Index*

**UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY**

----

|                                                                                                                                   |   |                                    |    |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|---------|
|                                                                                                                                   |   | **Three                  Months Ended** |    |
|                                                                                                                                   |   | **March                  31,**          |    |
|                                                                                                                                   |   | **2007**                                |    |   | **2006** |   |
| **Cash                  flows from operating activities:**                                                                             |   |                                    |    |   |   |   |
| Net                  income                                                                                                            |   | $                                       | 834     |   |   | $ | 1,355 |   |
| Adjustments                  to reconcile net income to net cash provided by operating                  activities:                    |   |                                    |    |   |   |   |   |   |
| Provision                  for loan losses                                                                                             |   |                                    | 284     |   |   |   | 162 |   |
| ESOP                  expense                                                                                                          |   |                                    | 160     |   |   |   | 94 |   |
| Stock-based                  compensation                                                                                              |   |                                    | 628     |   |   |   | - |   |
| Amortization                  of premiums and discounts                                                                                |   |                                    | (9      | ) |   |   | 100 |   |
| Depreciation                  and amortization                                                                                         |   |                                    | 230     |   |   |   | 193 |   |
| Amortization                  of intangible assets                                                                                     |   |                                    | 8       |   |   |   | - |   |
| Provision                  for other real estate owned                                                                                 |   |                                    | -       |   |   |   | 34 |   |
| Net                  gain on sale of other real estate owned                                                                           |   |                                    | (14     | ) |   |   | - |   |
| Net                  gain on sale of securities                                                                                        |   |                                    | (14     | ) |   |   | - |   |
| Increase                  in bank-owned life insurance                                                                                 |   |                                    | (169    | ) |   |   | (81 | ) |
| Increase                  in accrued interest receivable                                                                               |   |                                    | (110    | ) |   |   | (274 | ) |
| Increase                  in other assets                                                                                              |   |                                    | (124    | ) |   |   | (787 | ) |
| Decrease                  in accrued expenses and other liabilities                                                                    |   |                                    | (878    | ) |   |   | (348 | ) |
| Net                  cash provided by operating activities                                                                             |   |                                    | 826     |   |   |   | 448 |   |
|                                                                                                                                   |   |                                    |    |   |   |   |   |   |
| **Cash                  flows from investing activities:**                                                                             |   |                                    |    |   |   |   |   |   |
| Purchases                  of securities available for sale                                                                            |   |                                    | (5,129  | ) |   |   | (6,872 | ) |
| Proceeds                  from sales of securities available for sale                                                                  |   |                                    | 2,684   |   |   |   | - |   |
| Proceeds                  from  maturities, calls and principal repayments of securities                  available for sale |   |                                    | 21,967  |   |   |   | 12,172 |   |
| Purchases                  of securities held to maturity                                                                              |   |                                    | (675    | ) |   |   | - |   |
| Purchases                  of Federal Home Loan Bank of Boston stock                                                                   |   |                                    | (611    | ) |   |   | (96 | ) |
| Proceeds                  from sales of other real estate owned                                                                        |   |                                    | 576     |   |   |   | - |   |
| Net                  loan originations and principal repayments                                                                        |   |                                    | (24,009 | ) |   |   | (9,044 | ) |
| Purchases                  of property and equipment                                                                                   |   |                                    | (147    | ) |   |   | (97 | ) |
| Cash                  paid to acquire Levine Financial Group                                                                           |   |                                    | -       |   |   |   | (100 | ) |
| Net                  cash used in investing activities                                                                                 |   |                                    | (5,344  | ) |   |   | (4,037 | ) |
|                                                                                                                                   |   |                                    |    |   |   |   |   |   |
| **Cash                  flows from financing activities:**                                                                             |   |                                    |    |   |   |   |   |   |
| Net                  increase in deposits                                                                                              |   |                                    | 31,253  |   |   |   | 32,170 |   |
| Proceeds                  of Federal Home Loan Bank of Boston advances                                                                 |   |                                    | 50,000  |   |   |   | 29,612 |   |
| Repayments                  of Federal Home Loan Bank of Boston advances                                                               |   |                                    | (57,635 | ) |   |   | (18,949 | ) |
| Net                  decrease in repurchase agreements                                                                                 |   |                                    | (1,600  | ) |   |   | (2,046 | ) |
| Net                  increase in escrow funds held for borrowers                                                                       |   |                                    | 416     |   |   |   | 130 |   |
| Treasury                  stock purchases                                                                                              |   |                                    | (849    | ) |   |   | - |   |
| Cash                  dividends paid                                                                                                   |   |                                    | (442    | ) |   |   | (371 | ) |
| Net                  cash provided by financing activities                                                                             |   |                                    | 21,143  |   |   |   | 40,546 |   |
| Increase                  in cash and cash equivalents                                                                                 |   |                                    | 16,625  |   |   |   | 36,957 |   |
| Cash                  and cash equivalents at beginning of period                                                                      |   |                                    | 25,419  |   |   |   | 15,843 |   |
| Cash                  and cash equivalents at end of  period                                                                 |   | $                                       | 42,044  |   |   | $ | 52,800 |   |
|                                                                                                                                   |   |                                    |    |   |   |   |   |   |
| **Supplemental                  Disclosure of Cash Flow Information:**                                                                 |   |                                    |    |   |   |   |   |   |
| Cash                  paid during the period:                                                                                          |   |                                    |    |   |   |   |   |   |
| Interest                  on deposits and other borrowings                                                                             |   | $                                       | 7,351   |   |   | $ | 5,240 |   |
| Income                  taxes – net                                                                                              |   |                                    | 877     |   |   |   | 312 |   |
|                                                                                                                                   |   |                                    |    |   |   |   |   |   |
| Non-cash                  item:                                                                                                        |   |                                    |    |   |   |   |   |   |
| Capitalized                  lease asset and obligation                                                                                |   | $                                       | 1,932   |   |   | $ | - |   |

**.**

----

*Index*

**UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY**

**NOTES      TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS**

**MARCH      31, 2007**

**Dollars      in Thousands (except per share amounts)**

----

**NOTE      A – BASIS OF PRESENTATION**

**NOTE      B – RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS**

----

*Index*

**NOTE      C – CRITICAL ACCOUNTING POLICIES**

**NOTE      D – EARNINGS PER SHARE**

|                                                                                |   | **Three                  Months Ended March 31,** |       |
|-------------------------------------------------------------------------------------|--------|---------------------------------------------------|------------|
|                                                                                |   | **2007**                                          |       |   | **2006** |   |
|                                                                                |   |                                              |       |   |   |   |
| Net                  income                                                         |   | $                                                 | 834        |   |   | $ | 1,355 |   |
|                                                                                |   |                                              |       |   |   |   |   |   |
| Weighted                  average common shares applicable to basic EPS             |   |                                              | 16,273,732 |   |   |   | 16,600,767 |   |
| Effect                  of dilutive potential                  common shares (1, 2) |   |                                              | 59,503     |   |   |   | - |   |
|                                                                                |   |                                              |       |   |   |   |   |   |
| Weighted                  average common shares applicable to diluted EPS           |   |                                              | 16,333,235 |   |   |   | 16,600,767 |   |
|                                                                                |   |                                              |       |   |   |   |   |   |
| Earnings                  per share:                                                |   |                                              |       |   |   |   |   |   |
|     Basic                                                       |   | $                                                 | 0.05       |   |   | $ | 0.08 |   |
|     Diluted                                                     |   | $                                                 | 0.05       |   |   | $ | 0.08 |   |

| (1)                  For the three months ended March 31, 2007 options to purchase 748,000                  shares were outstanding but not included in the computation of                  earnings                  per share because they were antidulutive. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)                  Includes incremental shares related to stock options and restricted                  stock.                                                                                                                                                |

----

*Index*

**NOTE      E – LOANS**

|                                                        |   | **March                  31,** |    |   | **December                  31,** |   |
|-------------------------------------------------------------|--------|--------------------------------|---------|--------|-----------------------------------|--------|
|                                                        |   | **2007**                       |    |   | **2006**                          |   |
|                                                        |   |                           |    |   |                              |   |
| One-to-four                  family residential real estate |   | $                              | 325,948 |   |                              | $      | 319,108 |   |
| Commercial                  real estate                     |   |                           | 197,514 |   |                              |   | 175,564 |   |
| Construction                                                |   |                           | 48,748  |   |                              |   | 54,759 |   |
| Home                  equity loans                          |   |                           | 116,350 |   |                              |   | 112,739 |   |
| Commercial                  and industrial                  |   |                           | 67,723  |   |                              |   | 69,762 |   |
| Consumer                                                    |   |                           | 29,681  |   |                              |   | 30,181 |   |
|      Total                  loans  |   |                           | 785,964 |   |                              |   | 762,113 |   |
|                                                        |   |                           |    |   |                              |   |   |   |
| Net                  deferred loan costs and fees           |   |                           | 1,367   |   |                              |   | 1,285 |   |
| Allowance                  for loan losses                  |   |                           | (7,426  | )      |                              |   | (7,218 | ) |
|      Loans,                  net   |   | $                              | 779,905 |   |                              | $      | 756,180 |   |

**NOTE      F – NON-PERFORMING ASSETS**

|                                                                                                                    |   |                              |   |   |                                 |   |
|-------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|--------|--------------------------------------|--------|
|                                                                                                                    |   | **At                  March 31,** |   |   | **At                  December 31,** |   |
|                                                                                                                    |   | **2007**                          |   |   | **2006**                             |   |
|                                                                                                                    |   |                              |   |   |                                 |   |
| Non-accrual                  loans:                                                                                     |   |                              |   |   |                                 |   |
| Residential                  mortgages (1)                                                                              |   | $                                 | 401    |   |                                 | $      | 20 |   |
| Commercial                  mortgages                                                                                   |   |                              | 641    |   |                                 |   | 1,144 |   |
| Construction                                                                                                            |   |                              | -      |   |                                 |   | - |   |
| Commercial                  and industrial                                                                              |   |                              | 260    |   |                                 |   | 123 |   |
| Automobile                                                                                                              |   |                              | -      |   |                                 |   | - |   |
| Other                  consumer                                                                                         |   |                              | -      |   |                                 |   | 1 |   |
| Total                  non-accrual loans                                                                                |   |                              | 1,302  |   |                                 |   | 1,288 |   |
|                                                                                                                    |   |                              |   |   |                                 |   |   |   |
| Accruing                  loans 90 days or more past due                                                                |   |                              | -      |   |                                 |   | - |   |
|                                                                                                                    |   |                              |   |   |                                 |   |   |   |
| Total                  non-performing loans                                                                             |   |                              | 1,302  |   |                                 |   | 1,288 |   |
|                                                                                                                    |   |                              |   |   |                                 |   |   |   |
| Other                  real estate owned                                                                                |   |                              | -      |   |                                 |   | 562 |   |
| Total                  non-performing assets                                                                            |   | $                                 | 1,302  |   |                                 | $      | 1,850 |   |
|                                                                                                                    |   |                              |   |   |                                 |   |   |   |
| Ratios:                                                                                                                 |   |                              |   |   |                                 |   |   |   |
| Total                  non-performing loans to total loans                                                              |   |                              | 0.17   | %      |                                 |   | 0.17 | % |
| Total                  non-performing assets to total assets                                                            |   |                              | 0.13   | %      |                                 |   | 0.18 | % |
| Allowance                  for loan losses to non-performing loans                                                      |   |                              | 570.35 | %      |                                 |   | 560.40 | % |
|                                                                                                                    |   |                              |   |   |                                 |   |   |   |
| (1) Includes                  one- to four-family loans and home equity loans and lines of                  credit |   |                              |   |   |                                 |

----

*Index*

**NOTE      G – ALLOWANCE FOR LOAN LOSSES**

|                                                           |   | **For                  the Three Months Ended March 31,** |   |
|----------------------------------------------------------------|--------|-----------------------------------------------------------|--------|
|                                                           |   | **2007**                                                  |   |   | **2006** |   |
|                                                           |   |                                                      |   |   |   |   |
|                                                           |   |                                                      |   |   |   |   |
| Balance                  at beginning of period                |   | $                                                         | 7,218  |   |   | $ | 6,382 |   |
| Provision                  for loan losses                     |   |                                                      | 284    |   |   |   | 162 |   |
| Charge-offs                                                    |   |                                                      | (76    | ) |   |   | (2 | ) |
| Recoveries                                                     |   |                                                      | -      |   |   |   | 38 |   |
| Balance                  at end of period                      |   | $                                                         | 7,426  |   |   | $ | 6,580 |   |
|                                                           |   |                                                      |   |   |   |   |   |   |
| Ratios:                                                        |   |                                                      |   |   |   |   |   |   |
| Net                  charge-offs (recoveries) to average loans |   |                                                      |   |   |   |   |   |   |
| outstanding                                                    |   |                                                      | 0.04   | % |   |   | (0.02 | %) |
| Allowance                  for loan losses to non-performing   |   |                                                      |   |   |   |   |   |   |
| loans                  at end of period                        |   |                                                      | 570.35 | % |   |   | 390.27 | % |
| Allowance                  for loan losses to total            |   |                                                      |   |   |   |   |   |   |
| loans                  at end of period                        |   |                                                      | 0.94   | % |   |   | 1.02 | % |

**NOTE      H – COMMITMENTS**

|                                            |   | **March                  31,** |    |   | **December                  31,** |   |
|-------------------------------------------------|--------|--------------------------------|---------|--------|-----------------------------------|--------|
|                                            |   | **2007**                       |    |   | **2006**                          |   |
|                                            |   |                           |    |   |                              |   |
| Unused                  lines of credit         |   | $                              | 140,994 |   |                              | $      | 135,374 |   |
| Amounts                  due mortgagors         |   |                           | 36,671  |   |                              |   | 34,742 |   |
| Standby                  letters of credit      |   |                           | 986     |   |                              |   | 879 |   |
| Commitments                  to originate loans |   |                           | 30,354  |   |                              |   | 42,551 |   |

**NOTE      I – DEPOSITS**

|                                     |   | **March                  31,** |    |   | **December                  31,** |   |
|------------------------------------------|--------|--------------------------------|---------|--------|-----------------------------------|--------|
|                                     |   | **2007**                       |    |   | **2006**                          |   |
|                                     |   |                           |    |   |                              |   |
| Demand                                   |   | $                              | 102,513 |   |                              | $      | 97,190 |   |
| NOW                                      |   |                           | 38,227  |   |                              |   | 37,523 |   |
| Regular                  savings         |   |                           | 68,006  |   |                              |   | 65,475 |   |
| Money                  market            |   |                           | 177,173 |   |                              |   | 165,984 |   |
| Certificates                  of deposit |   |                           | 331,020 |   |                              |   | 319,514 |   |
|                                     |   | $                              | 716,939 |   |                              | $      | 685,686 |   |

----

*Index*

**NOTE      J – CONTINGENCIES**

**NOTE      K – SUBSEQUENT EVENT – EMPLOYEE BENEFIT PLAN CHANGES**

**ITEM      2.  Management’s Discussion and Analysis of Financial      Condition and Results of Operations**

**Forward-Looking      Statements**

**Comparison      of Financial Condition at March 31, 2007 and December 31,      2006**

----

*Index*

**Comparison      of Operating Results for the Three Months Ended March 31,      2007 and      2006**

**Overview**

**Net      Income**

----

*Index*

***Average      balances and yields***

|                                                                                |   | **Three                  Months Ended March 31,**                      |      |
|-------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------|-----------|
|                                                                                |   | **2007**                                                                              |      |   | **2006**       |   |
|                                                                                |   |                                                                                                                |      |   | **Interest** |   |   |   |   |   |   |   |   | **Interest** |   |   |   |   |
|                                                                                |   | **Average**                                                                                                         |      |   | **and** |   |   | **Yield/** |   |   | **Average** |   |   | **and** |   |   | **Yield/** |   |
|                                                                                |   | **Balance**                                                                                                         |      |   | **Dividends** |   |   | **Cost** |   |   | **Balance** |   |   | **Dividends** |   |   | **Cost** |   |
|                                                                                |   |    **(Dollars                  in thousands)**          |      |
|                                                                                |   |                                                                                                                |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                |   |                                                                                                                |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Interest-earning                  assets:**                                       |   |                                                                                                                |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans:                                                                              |   |                                                                                                                |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Residential                  real estate                                |   | $                                                                                                                   | 336,891   |   |   | $ | 4,744 |   |   |   | 5.63 | % |   | $ | 296,061 |   |   | $ | 4,081 |   |   |   | 5.51 | % |
|   Commercial                  real estate                                 |   |                                                                                                                | 225,188   |   |   |   | 3,704 |   |   |   | 6.58 | % |   |   | 169,578 |   |   |   | 2,780 |   |   |   | 6.56 | % |
|   Home                  equity loans                                      |   |                                                                                                                | 115,715   |   |   |   | 1,873 |   |   |   | 6.47 | % |   |   | 89,316 |   |   |   | 1,395 |   |   |   | 6.25 | % |
|   Commercial                  and industrial                              |   |                                                                                                                | 68,716    |   |   |   | 1,257 |   |   |   | 7.32 | % |   |   | 59,166 |   |   |   | 1,020 |   |   |   | 6.90 | % |
|   Consumer                  and other                                     |   |                                                                                                                | 29,791    |   |   |   | 377 |   |   |   | 5.06 | % |   |   | 26,711 |   |   |   | 324 |   |   |   | 4.85 | % |
|     Total                  loans                                |   |                                                                                                                | 776,301   |   |   |   | 11,955 |   |   |   | 6.16 | % |   |   | 640,832 |   |   |   | 9,600 |   |   |   | 5.99 | % |
| Investment                  securities                                              |   |                                                                                                                | 180,491   |   |   |   | 1,982 |   |   |   | 4.39 | % |   |   | 227,373 |   |   |   | 2,305 |   |   |   | 4.06 | % |
| Other                  interest-earning assets                                      |   |                                                                                                                | 28,320    |   |   |   | 375 |   |   |   | 5.30 | % |   |   | 22,014 |   |   |   | 242 |   |   |   | 4.40 | % |
| Total                  interest-earning assets                                      |   |                                                                                                                | 985,112   |   |   |   | 14,312 |   |   |   | 5.81 | % |   |   | 890,219 |   |   |   | 12,147 |   |   |   | 5.46 | % |
| Noninterest-earning                  assets                                         |   |                                                                                                                | 31,257    |   |   |   |   |   |   |   |   |   |   |   | 30,936 |   |   |   |   |   |   |   |   |   |
| Total                  assets                                                       |   | $                                                                                                                   | 1,016,369 |   |   |   |   |   |   |   |   |   |   | $ | 921,155 |   |   |   |   |   |   |   |   |   |
|                                                                                |   |                                                                                                                |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Interest-bearing                  liabilities:**                                  |   |                                                                                                                |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Savings                  accounts                                                   |   | $                                                                                                                   | 64,922    |   |   |   | 139 |   |   |   | 0.86 | % |   | $ | 84,855 |   |   |   | 174 |   |   |   | 0.82 | % |
| Money                  market accounts                                              |   |                                                                                                                | 174,194   |   |   |   | 1,356 |   |   |   | 3.11 | % |   |   | 161,522 |   |   |   | 1,184 |   |   |   | 2.93 | % |
| NOW                  accounts                                                       |   |                                                                                                                | 34,130    |   |   |   | 44 |   |   |   | 0.52 | % |   |   | 35,459 |   |   |   | 22 |   |   |   | 0.25 | % |
| Certificates                  of deposit                                            |   |                                                                                                                | 323,984   |   |   |   | 3,642 |   |   |   | 4.50 | % |   |   | 287,018 |   |   |   | 2,662 |   |   |   | 3.71 | % |
| Total                  interest-bearing deposits                                    |   |                                                                                                                | 597,230   |   |   |   | 5,181 |   |   |   | 3.47 | % |   |   | 568,854 |   |   |   | 4,042 |   |   |   | 2.84 | % |
| FHLB                  advances                                                      |   |                                                                                                                | 170,727   |   |   |   | 2,023 |   |   |   | 4.74 | % |   |   | 112,641 |   |   |   | 1,118 |   |   |   | 3.97 | % |
| Other                  interest-bearing liabilities                                 |   |                                                                                                                | 12,635    |   |   |   | 152 |   |   |   | 4.81 | % |   |   | 8,875 |   |   |   | 79 |   |   |   | 3.56 | % |
| Total                  interest-bearing liabilities                                 |   |                                                                                                                | 780,592   |   |   |   | 7,356 |   |   |   | 3.77 | % |   |   | 690,370 |   |   |   | 5,239 |   |   |   | 3.04 | % |
| Demand                  deposits                                                    |   |                                                                                                                | 94,302    |   |   |   |   |   |   |   |   |   |   |   | 89,677 |   |   |   |   |   |   |   |   |   |
| Other                  noninterest-bearing liabilities                              |   |                                                                                                                | 3,179     |   |   |   |   |   |   |   |   |   |   |   | 3,340 |   |   |   |   |   |   |   |   |   |
| Total                  liabilities                                                  |   |                                                                                                                | 878,073   |   |   |   |   |   |   |   |   |   |   |   | 783,387 |   |   |   |   |   |   |   |   |   |
| Stockholders'                  equity                                               |   |                                                                                                                | 138,296   |   |   |   |   |   |   |   |   |   |   |   | 137,768 |   |   |   |   |   |   |   |   |   |
| Total                  liabilities and stockholders' equity                         |   | $                                                                                                                   | 1,016,369 |   |   |   |   |   |   |   |   |   |   | $ | 921,155 |   |   |   |   |   |   |   |   |   |
|                                                                                |   |                                                                                                                |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  interest income                                                |   |                                                                                                                |      |   |   | $ | 6,956 |   |   |   |   |   |   |   |   |   |   | $ | 6,908 |   |   |   |   |   |
| Interest                  rate spread(1)                                            |   |                                                                                                                |      |   |   |   |   |   |   |   | 2.04 | % |   |   |   |   |   |   |   |   |   |   | 2.42 | % |
| Net                  interest-earning assets(2)                                     |   | $                                                                                                                   | 204,520   |   |   |   |   |   |   |   |   |   |   | $ | 199,849 |   |   |   |   |   |   |   |   |   |
| Net                  interest margin(3)                                             |   |                                                                                                                |      |   |   |   |   |   |   |   | 2.82 | % |   |   |   |   |   |   |   |   |   |   | 3.10 | % |
| Average                  interest-earning assets to                                 |   |                                                                                                                |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      average                  interest-bearing liabilities |   |                                                                                                                |      |   |   |   |   |   |   |   | 126.20 | % |   |   |   |   |   |   |   |   |   |   | 128.95 | % |

|   | (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 represents total interest-earning assets                less                total interest-bearing liabilities. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Net                interest margin represents net interest income divided by average                total                interest-earning assets. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

----

*Index*

***Rate/Volume      Analysis.***

|                                                                              |   | **Three                  Months Ended March 31**         |   |
|-----------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------|--------|
|                                                                              |   | **2007                  vs. 2006**        |   |
|                                                                              |   | **Increase                  (Decrease) Due to**          |   |
|                                                                              |   | **Volume**                                                              |   |   | **Rate** |   |   | **Net** |   |
|                                                                              |   | **(In                  thousands)**       |   |
|                                                                              |   |                                                                    |   |   |   |   |   |   |   |
| **Interest-earning                  assets:**                                     |   |                                                                    |   |   |   |   |   |   |   |
| Loans:                                                                            |   |                                                                    |   |   |   |   |   |   |   |
|   Residential                  real estate                              |   | $                                                                       | 573    |   |   | $ | 90 |   |   | $ | 663 |   |
|   Commercial                  real estate                               |   |                                                                    | 915    |   |   |   | 9 |   |   |   | 924 |   |
|   Home                  equity loans                                    |   |                                                                    | 425    |   |   |   | 53 |   |   |   | 478 |   |
|   Commercial                  and industrial                            |   |                                                                    | 172    |   |   |   | 65 |   |   |   | 237 |   |
|   Consumer                  and other                                   |   |                                                                    | 38     |   |   |   | 15 |   |   |   | 53 |   |
|      Total                  loans                        |   |                                                                    | 2,123  |   |   |   | 232 |   |   |   | 2,355 |   |
| Investment                  securities                                            |   |                                                                    | (503   | ) |   |   | 180 |   |   |   | (323 | ) |
| Other                  interest-earning assets                                    |   |                                                                    | 77     |   |   |   | 56 |   |   |   | 133 |   |
|      Total                  interest-earning assets      |   |                                                                    | 1,697  |   |   |   | 468 |   |   |   | 2,165 |   |
|                                                                              |   |                                                                    |   |   |   |   |   |   |   |   |   |   |
| **Interest-bearing                  liabilities:**                                |   |                                                                    |   |   |   |   |   |   |   |   |   |   |
| Savings                  accounts                                                 |   |                                                                    | (43    | ) |   |   | 8 |   |   |   | (35 | ) |
| Money                  market accounts                                            |   |                                                                    | 96     |   |   |   | 76 |   |   |   | 172 |   |
| NOW                  accounts                                                     |   |                                                                    | (1     | ) |   |   | 23 |   |   |   | 22 |   |
| Certificates                  of deposit                                          |   |                                                                    | 371    |   |   |   | 609 |   |   |   | 980 |   |
|      Total                  interest-bearing deposits    |   |                                                                    | 423    |   |   |   | 716 |   |   |   | 1,139 |   |
| FHLB                  Advances                                                    |   |                                                                    | 658    |   |   |   | 247 |   |   |   | 905 |   |
| Other                  interest-bearing liabilities                               |   |                                                                    | 39     |   |   |   | 34 |   |   |   | 73 |   |
|      Total                  interest-bearing liabilities |   |                                                                    | 1,120  |   |   |   | 997 |   |   |   | 2,117 |   |
|                                                                              |   |                                                                    |   |   |   |   |   |   |   |   |   |   |
| Change                  in net interest income                                    |   | $                                                                       | 577    |   |   | $ | (529 | ) |   | $ | 48 |   |

***Net      Interest Income Before Provision for Loan Losses.  ***

----

*Index*

***Interest      Income.***

***Interest      Expense.  ***

***Provision      for Loan Losses.***

***Non-interest      Income.***

***Non-interest      Expense.***
* *

----

*Index*

***Income      Tax Expense***
**.**

**Market      Risk, Liquidity and Capital Resources**

***Market      Risk***

| **Net                  Interest Income At-Risk**     |
|--------------------------------------------------------------------------|
|                                                                     |   |   |   |   |
|                                                                     |   | **Estimated                  Increase** |   | **Estimated                  Increase** |
| **Change                  in Interest Rates**                            |   | **(Decrease)                  in NII** |   | **(Decrease)                  in NII** |
| (Basis                  Points)                                          |   | (March                  31, 2007) |   | (December                  31, 2006) |
| -200                                                                     |   | 2.7% |   | 12.1% |
| Stable                                                                   |   | 0.0% |   | 0.0% |
| +200                                                                     |   | -5.5% |   | -10.9% |

----

*Index*

***Liquidity***

***Capital      Resources***

----

*Index*

| **As                  of March 31, 2007:**    |   |   |   |
|-----------------------------------------------|--------|--------|--------|
|                                          |   |   |   |
| Risk-based                  capital           |   |   | 15.52  | % |
|                                          |   |   |   |   |
| Core                  capital                 |   |   | 14.50  | % |
|                                          |   |   |   |   |
| Leverage                  capital             |   |   | 10.68  | % |
|                                          |   |   |   |   |
| **As                  of December 31, 2006:** |   |   |   |   |
|                                          |   |   |   |   |
| Risk-based                  capital           |   |   | 15.86  | % |
|                                          |   |   |   |   |
| Core                  capital                 |   |   | 14.83  | % |
|                                          |   |   |   |   |
| Leverage                  capital             |   |   | 10.82  | % |

**Off-Balance      Sheet Arrangements**

| **ITEM                3.** | **Quantitative                and Qualitative Disclosures About Market                Risk** |
|----------------------------|----------------------------------------------------------------------------------------------|

| **ITEM                4.** | **Controls                and Procedures** |
|----------------------------|--------------------------------------------|

----

*Index*

**PART      II.  OTHER INFORMATION**

| **ITEM                1.** | **   Legal                Proceedings** |
|----------------------------|--------------------------------------------------------|

| **ITEM1A. ** | ** Risk                Factors** |
|-------------------|---------------------------------------|

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

|                                   |   |                                |   |                                 |   |                                     |   | (c)                                      |   | (d)                               |
|----------------------------------------|--------|-------------------------------------|--------|--------------------------------------|--------|------------------------------------------|--------|-----------------------------------------------|--------|----------------------------------------|
|                                   |   |                                |   |                                 |   |                                     |   | Total                  Number of         |   | Maximum                  Number   |
|                                   |   |                                |   |                                 |   |                                     |   | Shares                                   |   | (or                  Approximate  |
|                                   |   | (a)                            |   | (b)                             |   | (or                  Units)         |   | Dollar                  Value) of        |
|                                   |   | Total                  Number  |   | Average                  Price  |   | Purchased                  as Part  |   | Shares                  (or Units) that  |
|                                   |   | of                  Shares     |   | Paid                  Per       |   | of                  Publicly        |   | May                  Yet Be              |
|                                   |   | (or                  Units)    |   | Share                           |   | Announced                  Plans    |   | Purchased                  Under the     |
| Period                                 |   | Purchased                      |   | (or                  Unit)      |   | or                  Programs        |   | Plans                  or Programs       |
|                                   |   |                                |   |                                 |   |                                     |   |                                          |   |                                   |   |   |
| January                  1 - 31, 2007  |   |                                | 9,906  |                                 |   | $                                        | 14.38  |                                          |   |                                   | 9,906 |   |   |   | 846,149 |   |
|                                   |   |                                |   |                                 |   |                                     |   |                                          |   |                                   |   |   |   |   |   |   |
| February                  1 - 28, 2007 |   |                                | 12,902 |                                 |   |                                     | 14.73  |                                          |   |                                   | 12,902 |   |   |   | 833,247 |   |
|                                   |   |                                |   |                                 |   |                                     |   |                                          |   |                                   |   |   |   |   |   |   |
| March                  1 - 31, 2007    |   |                                | 35,608 |                                 |   |                                     | 14.51  |                                          |   |                                   | 35,608 |   |   |   | 797,639 |   |
|                                   |   |                                |   |                                 |   |                                     |   |                                          |   |                                   |   |   |   |   |   |   |
| Total                                  |   |                                | 58,416 |                                 |   | $                                        | 14.54  |                                          |   |                                   | 58,416 |   |   | N/A |   |

| **ITEM                3.** | **Defaults                Upon Senior Securities** |
|----------------------------|----------------------------------------------------|

----

*Index*

| **ITEM                4.** | **Submission                of Matters to a Vote of Security                Holders** |
|----------------------------|---------------------------------------------------------------------------------------|

| **ITEM                5.** | **Other                Information** |
|----------------------------|--------------------------------------|

| **ITEM                6.** | **Exhibits.** |
|----------------------------|---------------|

|   | 3.1 | Charter                of United Financial Bancorp, Inc., as amended                (1) |
|--------|-----|-----------------------------------------------------------------------------------------|

|   | 3.2 | Resolution                and Consent of Sole Stockholder Amending the Charter of United Financial                Bancorp, Inc. (1) |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.3 | Bylaws                of United Financial Bancorp, Inc. |
|--------|-----|---------------------------------------------------------|

|   | 4 | Form                of Common Stock Certificate of United Financial Bancorp, Inc.                (1) |
|--------|---|------------------------------------------------------------------------------------------------------|

|   | 10.1 | Form                of Employee Stock Ownership Plan                (1) |
|--------|------|-------------------------------------------------------------------------|

|   | 10.2 | Executive                Supplemental Compensation Agreement by and between United Bank and                Richard                B. Collins (1) |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.3 | Executive                Supplemental Compensation Agreement by and between United Bank and                Keith                E. Harvey (1) |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.4 | Executive                Supplemental Compensation Agreement by and between United Bank and                John J.                Patterson (1) |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.5 | United                Bank 2004 and 2005 Incentive Plans                (1) |
|--------|------|-----------------------------------------------------------------------------|

|   | 10.9 | Directors                Fee Continuation Plan (1) |
|--------|------|----------------------------------------------------|

|  | 10.10 | Form                of Employment Agreement by and between United Bank and Richard B.                Collins                (1) |
|--|-------|---------------------------------------------------------------------------------------------------------------------------------|

|  | 10.11 | Form                of Change in Control Agreement by and between United Bank and certain                executive officers (1) |
|--|-------|---------------------------------------------------------------------------------------------------------------------------------|

|  | 10.12 | United                Bank 2006 Stock-Based Incentive Plan                (2) |
|--|-------|-------------------------------------------------------------------------------|

|   | 11 | Statement                Regarding Computation of Per Share Earnings (refer to Note D of Part                I,                Item 1- Consolidated Financial                Statements) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21 | Subsidiaries                of Registrant (1) |
|--------|----|-----------------------------------------------|

|   | 31.1 | Certification                of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002 |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------|

|   | 31.2 | Certification                of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002 |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 | Certification                of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002 |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------|

|   | 32.2 | Certification                of  Chief Financial Officer pursuant to Section 906 of the                Sarbanes-Oxley Act of 2002 |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | Incorporated                by reference to the Registration Statement on Form S-1 of United                Financial                Bancorp, Inc. (file no. 333-123371), originally filed with the Securities                and Exchange Commission on March 16,                2005. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Incorporated                by reference to Appendix B of the Registrant’s definitive Proxy Statement                for the Company’s 2006 Annual Meeting filed with the Securities and                Exchange Commission on June 12,                2006. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

*Index*

**SIGNATURES**

|                                                                                                        |                                              |                                                                               |
|-------------------------------------------------------------------------------------------------------------|---------------------------------------------------|------------------------------------------------------------------------------------|
|                                                                                                        | **United                Financial Bancorp, Inc.** |
|                                                                                                        |                                              |                                                                               |
|                                                                                                        |                                              |                                                                               |
| Date:                May 9,                2007           | By:                                               | /s/                Richard B. Collins                                              |
|                                                                                                        |                                              | Richard                B. Collins                                                  |
|                                                                                                        |                                              | President                and Chief Executive Officer                               |
|                                                                                                        |                                              |                                                                               |
|                                                                                                        |                                              |                                                                               |
| Date:                May 9,                2007           | By:                                               | /s/                Mark A. Roberts                                                 |
|                                                                                                        |                                              | Mark                A. Roberts                                                     |
|                                                                                                        |                                              | Executive                Vice President and Chief Financial                Officer |