| FOR      IMMEDIATE RELEASE                                         | For      More Information Contact:      |
|--------------------------------------------------------------------|-----------------------------------------|
|                                                               | Mark      A. Roberts                    |
|                                                               | Executive      Vice President & CFO |
|                                                               | (413)      787-1700                     |
|                                                               |                                    |
|                                                               |                                    |
| UNITED      FINANCIAL BANCORP REPORTS EARNINGS PER SHARE OF $0.15, |
| DECLARES      DIVIDEND OF $0.07 PER SHARE AND                      |
| ANNOUNCES      STRONG CAPITAL AND LIQUIDITY POSITIONS              |
|                                                               |

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|   | · | Total      securities available for sale expanded $111.1 million, or 55.2%, to $312.4      million at September 30, 2008 from $201.3 million at December 31, 2007 due      to the implementation of a strategy to deploy excess capital and liquidity      resulting from the Company’s 2007 second-step stock      offering.  During the period, management purchased agency      mortgage-backed securities which are expected to produce steady cash flows      and attractive spreads to U.S. Treasury securities.  At      September 30, 2008, approximately 96% of the available-for-sale investment      portfolio consisted of mortgage-backed and debt securities issued by      government-sponsored enterprises.  The Company doesn’t own any      equity or debt securities issued by Fannie Mae, Freddie Mac, Lehman      Brothers orAIG.     |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Total      loans increased $38.5 million, or 4.7%, to $863.2 million at September 30,      2008 from $824.7 million at December 31, 2007 reflecting growth in the      commercial real estate (9.9%), residential real estate (5.4%), home equity      (4.2%) and commercial (3.7%) portfolios as a result of business      development efforts and competitive products and      pricing.  Construction loan balances declined $7.6 million, or      18.0%, to $35.0 million at September 30, 2008 as a result of pay-downs and      a slow-down in the underlyingmarket. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Non-performing      assets totaled $3.6 million, or 0.29% of total assets, at September 30,      2008 compared to $2.7 million, or 0.25% of total assets, at December 31,      2007.  The increase of $900,000 in non-performing assets was      mainly attributable to several residential and commercial real estate      loans that became more than 90 days delinquent.  Management      believes that these loans are adequately secured.  While total      non-performing loans have increased during the period, the portfolio has      not been affected by loans to sub-prime borrowers since the Company has      not underwritten loans targeted to this segment of the    market. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | At      September 30, 2008, the ratio of the allowance for loan losses to total      loans was 0.97% and the ratio of the allowance for loan losses to      non-performing loans was 254.48%.  For the nine months ended      September 30, 2008, net charge-offs totaled $808,000, or 0.13% of average      loans outstanding on an annualizedbasis. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | Total      deposits increased $42.2 million, or 5.9%, to $760.9 million at September      30, 2008 compared to $718.7 million at December 31, 2007 mainly due to      competitive products and pricing, excellent customer service, targeted      promotional activities and two new branches opened in 2008, which are both      performing above plan.  Core deposit balances grew $27.5      million, or 7.4%, to $398.5 million at September 30, 2008 from $371.0      million at December 31, 2007. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Net      interest income increased $3.3 million, or 45.3%, to $10.5 million for the      third quarter of 2008 from the same period in 2007 as a result of net      interest margin expansion and growth in earning assets.  Net      interest margin increased 65 basis points to 3.56% reflecting the use of      net proceeds from the Company’s second-step stock offering to fund asset      growth as well as a significant decrease in the cost of deposits as a      result of the 325 basis points reduction in the federal funds rate from      5.25% at September 1, 2007 to 2.00% at September 30,      2008.  Average earning assets expanded $160.9 million, or 16.3%,      to $1.1 billion, mainly due to loan growth and purchases of      mortgage-backed securities. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Non-interest      income expanded $321,000, or 22.7%, to $1.7 million for the three months      ended September 30, 2008 due to increases of $114,000, or 10.3%, from      deposit account fees and $113,000, or 56.5%, from wealth management income      as well as a $141,000 loss on the sale of securities in the third quarter      of 2007. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Non-interest      expenses grew $1.7 million, or 27.3%, to $7.8 million for the third      quarter of 2008 from $6.1 million in the same period last      year.  Salaries and benefits expanded $977,000, or 27.6%,      reflecting staffing costs for two new branches opened in 2008, an increase      in stock based compensation as a result of stock options and restricted      stock granted in 2008, a higher cash incentive accrual associated with      improved financial performance and annual wage      adjustments.  Occupancy costs increased $167,000, or 35.6%,      mainly due to the two branches opened in 2008.  Data processing      expenses were $93,000, or 13.1%, higher as a result of growth in the      total number of loan and deposit accounts serviced, new branches opened in      2008 and costs for the new branch imaging process introduced in all      branches beginning in 2008.  Professional services grew      $101,000, or 45.9%, principally due to higher legal and consulting      costs.  Other expenses expanded $312,000, or 34.4%, mainly in      connection with a higher quarterly Federal Deposit Insurance Corporation      insurance premium. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY                                 |
|------------------------------------------------------------------------------------------|
| CONSOLIDATED      STATEMENTS OF CONDITION                                                |
| (Dollars      in thousands, except par value amounts)                                    |
|                                                                                     |   |   |   |   |   |   |   |   |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |
|                                                                                     |   | September      30, |   |   | December      31, |   |   | September      30, |   |
| Assets                                                                                   |   | 2008 |   |   | 2007 |   |   | 2007 |   |
|                                                                                     |   | (unaudited) |   |   | (audited) |   |   | (unaudited) |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |
| Cash      and cash equivalents                                                           |   | $ | 13,044 |   |   | $ | 14,254 |   |   | $ | 28,491 |   |
| Short-term      investments                                                              |   |   | 1,063 |   |   |   | 1,030 |   |   |   | 1,017 |   |
| Securities      available for sale, at fair value                                        |   |   | 312,422 |   |   |   | 201,257 |   |   |   | 183,862 |   |
| Securities      held to maturity, at amortized cost                                      |   |   | 3,242 |   |   |   | 3,632 |   |   |   | 3,684 |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans:                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential      mortgages                                                               |   |   | 357,967 |   |   |   | 339,470 |   |   |   | 336,064 |   |
| Commercial      mortgages                                                                |   |   | 236,010 |   |   |   | 214,776 |   |   |   | 204,325 |   |
| Construction      loans                                                                  |   |   | 34,499 |   |   |   | 42,059 |   |   |   | 43,614 |   |
| Commercial      loans                                                                    |   |   | 84,612 |   |   |   | 81,562 |   |   |   | 80,140 |   |
| Home      equity loans                                                                   |   |   | 121,166 |   |   |   | 116,241 |   |   |   | 118,712 |   |
| Consumer      loans                                                                      |   |   | 28,945 |   |   |   | 30,587 |   |   |   | 31,451 |   |
| Total      loans                                                                         |   |   | 863,199 |   |   |   | 824,695 |   |   |   | 814,306 |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      deferred loan costs and fees                                                    |   |   | 2,382 |   |   |   | 2,136 |   |   |   | 1,418 |   |
| Allowance      for loan losses                                                           |   |   | (8,385 | ) |   |   | (7,714 | ) |   |   | (7,612 | ) |
| Loans,      net                                                                          |   |   | 857,196 |   |   |   | 819,117 |   |   |   | 808,112 |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Federal      Home Loan Bank of Boston stock, at cost                                     |   |   | 12,223 |   |   |   | 10,257 |   |   |   | 9,885 |   |
| Other      real estate owned                                                             |   |   | 330 |   |   |   | 880 |   |   |   | 880 |   |
| Deferred      tax asset, net                                                             |   |   | 8,809 |   |   |   | 4,953 |   |   |   | 2,980 |   |
| Premises      and equipment, net                                                         |   |   | 12,323 |   |   |   | 10,600 |   |   |   | 10,564 |   |
| Bank-owned      life insurance                                                           |   |   | 6,960 |   |   |   | 6,652 |   |   |   | 6,595 |   |
| Other      assets                                                                        |   |   | 7,478 |   |   |   | 6,649 |   |   |   | 7,876 |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      assets                                                                        |   | $ | 1,235,090 |   |   | $ | 1,079,281 |   |   | $ | 1,063,946 |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities      and Stockholders' Equity                                                |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits:                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand                                                                                   |   | $ | 107,029 |   |   | $ | 102,010 |   |   | $ | 104,411 |   |
| NOW                                                                                      |   |   | 34,965 |   |   |   | 35,207 |   |   |   | 36,884 |   |
| Savings                                                                                  |   |   | 96,884 |   |   |   | 65,711 |   |   |   | 63,361 |   |
| Money      market                                                                        |   |   | 159,663 |   |   |   | 168,107 |   |   |   | 169,788 |   |
| Certificates      of deposit                                                             |   |   | 362,346 |   |   |   | 347,647 |   |   |   | 348,674 |   |
| Total      deposits                                                                      |   |   | 760,887 |   |   |   | 718,682 |   |   |   | 723,118 |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Federal      Home Loan Bank of Boston advances                                           |   |   | 226,130 |   |   |   | 107,997 |   |   |   | 183,852 |   |
| Repurchase      agreements                                                               |   |   | 11,365 |   |   |   | 13,864 |   |   |   | 7,519 |   |
| Escrow      funds held for borrowers                                                     |   |   | 1,809 |   |   |   | 1,356 |   |   |   | 1,410 |   |
| Capitalized      lease obligations                                                       |   |   | 3,149 |   |   |   | 1,890 |   |   |   | 1,900 |   |
| Accrued      expenses and other liabilities                                              |   |   | 7,031 |   |   |   | 9,372 |   |   |   | 4,899 |   |
| Total      liabilities                                                                   |   |   | 1,010,371 |   |   |   | 853,161 |   |   |   | 922,698 |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders'      Equity:                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred      stock, par value $0.01 per share, authorized 50,000,000    shares         |   |   |   |   |   |   |   |   |   |
| at      September 30, 2008 and December 31, 2007 and 5,000,000 shares      at            |   |   |   |   |   |   |   |   |   |   |   |   |
| September      30, 2007; none issued                                                     |   |   | - |   |   |   | - |   |   |   | - |   |
| Common      stock, par value $0.01 per share; shares authorized 100,000,000      at      |   |   |   |   |   |   |   |   |   |
| September      30, 2008 and December 31, 2007 and 60,000,000 at September 30,      2007; |   |   |   |   |   |   |   |   |   |
| shares      issued: 17,763,747 at September 30, 2008 and                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| December      31, 2007; shares issued: 17,205,995 at September 30, 2007                  |   |   | 178 |   |   |   | 178 |   |   |   | 172 |   |
| Additional      paid-in capital                                                          |   |   | 163,676 |   |   |   | 165,920 |   |   |   | 77,127 |   |
| Retained      earnings                                                                   |   |   | 76,070 |   |   |   | 73,026 |   |   |   | 72,190 |   |
| Unearned      compensation                                                               |   |   | (12,311 | ) |   |   | (12,835 | ) |   |   | (5,439 | ) |
| Accumulated      other comprehensive loss, net of taxes                                  |   |   | (2,226 | ) |   |   | (169 | ) |   |   | (888 | ) |
| Treasury      stock, at cost (56,167 shares at September 30, 2008 and                    |   |   |   |   |   |   |   |   |   |   |   |   |
| 137,835      shares at September 30, 2007)                                               |   |   | (668 | ) |   |   | - |   |   |   | (1,914 | ) |
| Total      stockholders' equity                                                          |   |   | 224,719 |   |   |   | 226,120 |   |   |   | 141,248 |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      liabilities and stockholders' equity                                          |   | $ | 1,235,090 |   |   | $ | 1,079,281 |   |   | $ | 1,063,946 |   |

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| UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY   |
|------------------------------------------------------|
| CONSOLIDATED      INCOME STATEMENTS                  |
| (Amounts      in thousands, except per shareamounts) |

|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |
|-----------------------------------------------------------|--------|-------------------------|--------|--------|------------------------|--------|--------|--------|--------|--------|--------|--------|
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |
|                                                      |   | Three      Months Ended |   |   | Nine      Months Ended |   |
|                                                      |   | September      30,      |   |   | September      30,     |   |
|                                                      |   | 2008                    |   |   | 2007                   |   |   | 2008   |   |   | 2007   |   |
|                                                      |   | (unaudited)             |   |   | (unaudited)            |   |
| Interest      and dividend income:                        |   |                    |   |   |                   |   |   |   |   |   |   |   |
| Loans                                                     |   | $                       | 12,835 |   |                   | $      | 12,712 |   |   | $      | 37,676 |   |   | $ | 37,017 |   |
| Investments                                               |   |                    | 3,886  |   |                   |   | 2,017  |   |   |   | 10,064 |   |   |   | 5,849 |   |
| Other      interest-earning assets                        |   |                    | 90     |   |                   |   | 247    |   |   |   | 450    |   |   |   | 935 |   |
| Total      interest and dividend income                   |   |                    | 16,811 |   |                   |   | 14,976 |   |   |   | 48,190 |   |   |   | 43,801 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      expense:                                    |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                                  |   |                    | 4,217  |   |                   |   | 5,672  |   |   |   | 13,549 |   |   |   | 16,330 |   |
| Borrowings                                                |   |                    | 2,058  |   |                   |   | 2,051  |   |   |   | 5,166  |   |   |   | 6,127 |   |
| Total      interest expense                               |   |                    | 6,275  |   |                   |   | 7,723  |   |   |   | 18,715 |   |   |   | 22,457 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net      interest income before provision for loan losses |   |                    | 10,536 |   |                   |   | 7,253  |   |   |   | 29,475 |   |   |   | 21,344 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Provision      for loan losses                            |   |                    | 644    |   |                   |   | 436    |   |   |   | 1,479  |   |   |   | 1,040 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net      interest income after provision for loan losses  |   |                    | 9,892  |   |                   |   | 6,817  |   |   |   | 27,996 |   |   |   | 20,304 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest      income:                                 |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net      (loss) gain on sales of securities               |   |                    | -      |   |                   |   | (141   | )      |   |   | 8      |   |   |   | (170 | ) |
| Fee      income on depositors’ accounts             |   |                    | 1,219  |   |                   |   | 1,105  |   |   |   | 3,452  |   |   |   | 3,240 |   |
| Wealth      management income                             |   |                    | 313    |   |                   |   | 200    |   |   |   | 599    |   |   |   | 491 |   |
| Other      income                                         |   |                    | 201    |   |                   |   | 248    |   |   |   | 767    |   |   |   | 684 |   |
| Total      non-interest income                            |   |                    | 1,733  |   |                   |   | 1,412  |   |   |   | 4,826  |   |   |   | 4,245 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest      expense:                                |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Salaries      and benefits                                |   |                    | 4,523  |   |                   |   | 3,546  |   |   |   | 12,763 |   |   |   | 11,119 |   |
| Occupancy      expenses                                   |   |                    | 636    |   |                   |   | 469    |   |   |   | 1,723  |   |   |   | 1,441 |   |
| Marketing      expenses                                   |   |                    | 302    |   |                   |   | 277    |   |   |   | 1,101  |   |   |   | 1,048 |   |
| Data      processing expenses                             |   |                    | 804    |   |                   |   | 711    |   |   |   | 2,338  |   |   |   | 2,006 |   |
| Professional      fees                                    |   |                    | 321    |   |                   |   | 220    |   |   |   | 1,136  |   |   |   | 872 |   |
| Other      expenses                                       |   |                    | 1,220  |   |                   |   | 908    |   |   |   | 3,471  |   |   |   | 2,867 |   |
| Total      non-interest expense                           |   |                    | 7,806  |   |                   |   | 6,131  |   |   |   | 22,532 |   |   |   | 19,353 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Income      before income taxes                           |   |                    | 3,819  |   |                   |   | 2,098  |   |   |   | 10,290 |   |   |   | 5,196 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Income      tax expense                                   |   |                    | 1,455  |   |                   |   | 807    |   |   |   | 3,951  |   |   |   | 2,093 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income                                           |   | $                       | 2,364  |   |                   | $      | 1,291  |   |   | $      | 6,339  |   |   | $ | 3,103 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      per share:                                  |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                     |   | $                       | 0.15   |   |                   | $      | 0.08   |   |   | $      | 0.39   |   |   | $ | 0.18 |   |
| Diluted                                                   |   | $                       | 0.15   |   |                   | $      | 0.08   |   |   | $      | 0.39   |   |   | $ | 0.18 |   |
|                                                      |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted      average shares outstanding:                 |   |                    |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                     |   |                    | 15,864 |   |                   |   | 16,930 |   |   |   | 16,099 |   |   |   | 16,923 |   |
| Diluted                                                   |   |                    | 15,955 |   |                   |   | 16,989 |   |   |   | 16,141 |   |   |   | 16,986 |   |

----

| UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY   |
|------------------------------------------------------|
| SELECTED      DATA AND RATIOS (unaudited)            |
| (Dollars      in thousands, except per shareamounts) |

|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |
|---------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|-----------|--------|--------------|--------|-----------|--------------|--------|--------|--------------|--------|--------|---------------|-----------|
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |
|                                                                                                          |   | At      or For The Quarters Ended |      |
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |
|                                                                                                          |   | Sept.      30                     |      |   | Jun.      30 |   |      | Mar.      31 |   |   | Dec.      31 |   |   | Sept.      30 |      |
|                                                                                                          |   | 2008                              |      |   | 2008         |   |      | 2008         |   |   | 2007         |   |   | 2007          |      |
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |
| Operating      Results:                                                                                       |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |
| Net      interest income                                                                                      |   | $                                 | 10,536    |   |         | $      | 9,908     |         |   | $      | 9,031        |   |   | $             | 7,823     |   |   | $ | 7,253 |   |
| Loan      loss provision                                                                                      |   |                              | 644       |   |         |   | 651       |         |   |   | 184          |   |   |          | 385       |   |   |   | 436 |   |
| Non-interest      income                                                                                      |   |                              | 1,733     |   |         |   | 1,574     |         |   |   | 1,519        |   |   |          | 1,490     |   |   |   | 1,412 |   |
| Non-interest      expenses                                                                                    |   |                              | 7,806     |   |         |   | 7,550     |         |   |   | 7,176        |   |   |          | 6,686     |   |   |   | 6,131 |   |
| Net      income                                                                                               |   |                              | 2,364     |   |         |   | 2,009     |         |   |   | 1,966        |   |   |          | 1,274     |   |   |   | 1,291 |   |
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Performance      Ratios (annualized):                                                                         |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Return      on average assets                                                                                 |   |                              | 0.77      | %      |         |   | 0.68      | %            |   |   | 0.72         | %      |   |          | 0.48      | % |   |   | 0.50 | % |
| Return      on average equity                                                                                 |   |                              | 4.22      | %      |         |   | 3.52      | %            |   |   | 3.46         | %      |   |          | 3.02      | % |   |   | 3.69 | % |
| Net      interest margin                                                                                      |   |                              | 3.56      | %      |         |   | 3.46      | %            |   |   | 3.40         | %      |   |          | 3.02      | % |   |   | 2.91 | % |
| Non-interest      income to average total assets                                                              |   |                              | 0.57      | %      |         |   | 0.53      | %            |   |   | 0.55         | %      |   |          | 0.56      | % |   |   | 0.55 | % |
| Non-interest      expense to average total assets                                                             |   |                              | 2.55      | %      |         |   | 2.55      | %            |   |   | 2.62         | %      |   |          | 2.50      | % |   |   | 2.38 | % |
| Efficiency      ratio (excludes gains/losses on sales of securities and    loans)                             |   |                              | 63.62     | %      |         |   | 65.76     | %            |   |   | 68.07        | %      |   |          | 70.99     | % |   |   | 69.63 | % |
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Per      Share Data:                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Diluted      earnings per share                                                                               |   | $                                 | 0.15      |   |         | $      | 0.12      |         |   | $      | 0.12         |   |   | $             | 0.08      |   |   | $ | 0.08 |   |
| Book      value per share                                                                                     |   | $                                 | 12.69     |   |         | $      | 12.76     |         |   | $      | 12.86        |   |   | $             | 12.73     |   |   | $ | 8.28 |   |
| Market      price at period end (1)                                                                           |   | $                                 | 14.85     |   |         | $      | 11.17     |         |   | $      | 11.08        |   |   | $             | 11.10     |   |   | $ | 12.06 |   |
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Risk      Profile                                                                                             |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Equity      as a percentage of assets                                                                         |   |                              | 18.19     | %      |         |   | 18.66     | %            |   |   | 19.81        | %      |   |          | 20.95     | % |   |   | 13.28 | % |
| Net      charge-offs to average loans outstanding                                                             |   |                              | 0.19      | %      |         |   | 0.06      | %            |   |   | 0.12         | %      |   |          | 0.13      | % |   |   | 0.27 | % |
| Non-performing      assets as a percent of total assets                                                       |   |                              | 0.29      | %      |         |   | 0.39      | %            |   |   | 0.32         | %      |   |          | 0.25      | % |   |   | 0.18 | % |
| Non-performing      loans as a percent of total loans, gross                                                  |   |                              | 0.38      | %      |         |   | 0.48      | %            |   |   | 0.32         | %      |   |          | 0.22      | % |   |   | 0.12 | % |
| Allowance      for loan losses as a percent of total loans, gross                                             |   |                              | 0.97      | %      |         |   | 0.95      | %            |   |   | 0.93         | %      |   |          | 0.94      | % |   |   | 0.93 | % |
| Allowance      for loan losses as a percent of non-performing loans                                           |   |                              | 254.48    | %      |         |   | 197.39    | %            |   |   | 285.41       | %      |   |          | 432.16    | % |   |   | 755.16 | % |
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Average      Balances                                                                                         |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Loans                                                                                                         |   | $                                 | 865,053   |   |         | $      | 845,304   |         |   | $      | 828,302      |   |   | $             | 820,164   |   |   | $ | 812,756 |   |
| Securities                                                                                                    |   |                              | 306,499   |   |         |   | 288,502   |         |   |   | 211,880      |   |   |          | 193,099   |   |   |   | 168,498 |   |
| Total      interest-earning assets                                                                            |   |                              | 1,185,244 |   |         |   | 1,146,397 |         |   |   | 1,061,978    |   |   |          | 1,036,253 |   |   |   | 998,336 |   |
| Total      assets                                                                                             |   |                              | 1,225,250 |   |         |   | 1,183,627 |         |   |   | 1,095,866    |   |   |          | 1,069,060 |   |   |   | 1,032,225 |   |
| Deposits                                                                                                      |   |                              | 765,797   |   |         |   | 761,990   |         |   |   | 730,094      |   |   |          | 721,634   |   |   |   | 720,330 |   |
| FHLBB      advances                                                                                           |   |                              | 214,005   |   |         |   | 170,052   |         |   |   | 116,519      |   |   |          | 157,819   |   |   |   | 156,150 |   |
| Capital                                                                                                       |   |                              | 224,015   |   |         |   | 228,241   |         |   |   | 227,413      |   |   |          | 168,910   |   |   |   | 139,820 |   |
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Average      Yields/Rates (annualized)                                                                        |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Loans                                                                                                         |   |                              | 5.93      | %      |         |   | 5.82      | %            |   |   | 6.06         | %      |   |          | 6.24      | % |   |   | 6.26 | % |
| Securities                                                                                                    |   |                              | 5.07      | %      |         |   | 4.94      | %            |   |   | 4.94         | %      |   |          | 4.87      | % |   |   | 4.79 | % |
| Total      interest-earning assets                                                                            |   |                              | 5.67      | %      |         |   | 5.57      | %            |   |   | 5.80         | %      |   |          | 5.96      | % |   |   | 6.00 | % |
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| Savings      accounts                                                                                         |   |                              | 1.29      | %      |         |   | 1.14      | %            |   |   | 0.98         | %      |   |          | 1.05      | % |   |   | 0.90 | % |
| Money      market/NOW accounts                                                                                |   |                              | 1.63      | %      |         |   | 1.60      | %            |   |   | 2.03         | %      |   |          | 2.71      | % |   |   | 2.81 | % |
| Certificates      of deposit                                                                                  |   |                              | 3.41      | %      |         |   | 3.62      | %            |   |   | 4.24         | %      |   |          | 4.66      | % |   |   | 4.70 | % |
| FHLBB      advances                                                                                           |   |                              | 3.66      | %      |         |   | 3.77      | %            |   |   | 4.47         | %      |   |          | 4.82      | % |   |   | 4.90 | % |
| Total      interest-bearing liabilities                                                                       |   |                              | 2.84      | %      |         |   | 2.90      | %            |   |   | 3.37         | %      |   |          | 3.87      | % |   |   | 3.92 | % |
|                                                                                                          |   |                              |      |   |         |   |      |         |   |   |         |   |   |          |      |   |   |   |   |   |
| (1)      The price at September 30, 2007 has been adjusted by the second step      exchange ratio of 1.04079. |   |                              |      |   |         |   |      |         |   |   |         |   |   |