| 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 $0.12  AND |
| ANNOUNCES      DIVIDEND OF $0.07 PER SHARE                             |
|                                                                   |                                    |

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|   | · | Total      securities available for sale expanded $91.4 million, or 45.4%, to $292.7      million at June 30, 2008 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 June 30,      2008, approximately 95% of the investment portfolio consists of      mortgage-backed and debt securities issued by government-sponsored      enterprises and the Company holds no FNMA or FHLMC preferred      stock.   |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Total      loans increased $33.3 million, or 4.0%, to $858.0 million at June 30, 2008      from $824.7 million at December 31, 2007 reflecting growth in the      residential (5.2%) and commercial real estate (8.3%) portfolios as a      result of business development efforts and competitive products and      pricing.  Construction loan balances declined $4.8 million, or      11.3%, to $37.3 million at June 30, 2008 as a result of pay-downs and      conservative underwriting standards.  All other categories of      loans were essentially flat during the period reflecting sluggish loan      origination activity offset by prepayments and scheduled      amortization. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Non-performing      assets totaled $4.8 million, or 0.39% of total assets, at June 30, 2008      compared to $2.7 million, or 0.25% of total assets, at December 31,      2007.  The increase of $2.1 million 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, our portfolio has      not been affected by loans to sub-prime borrowers since the Company has      not historically originated loans to these  customers. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | At      June 30, 2008, the ratio of the allowance for loan losses to total loans      was 0.95% and the ratio of the allowance for loan losses to non-performing      loans was 197.39%.  For the six months ended June 30, 2008, net      charge-offs totaled $387,000, or 0.09% of average loans outstanding on an      annualized basis. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Total      deposits increased $56.0 million, or 7.8%, to $774.7 million at June 30,      2008 compared to $718.7 million at December 31, 2007 mainly due to      competitive products and pricing, superior customer service, targeted      promotional activities and our two new branches in East Longmeadow and      Agawam, Massachusetts, which are both performing above      plan.  Core deposit balances grew $34.9 million, or 9.4%, to      $405.9 million at June 30, 2008 from $371.0 million at December 31,      2007. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Net      interest income increased $2.8 million, or 38.9%, to $9.9 million for the      second 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 56 basis points to 3.46% due to 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 June 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. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The      provision for loan losses increased $331,000 to $651,000 for the three      months ended June 30, 2008 as compared to $320,000 for the same period in      2007 resulting primarily from a $7.8 million increase in classified assets      to $40.1 million at June 30, 2008 from $33.4 million at June 30,      2007. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Non-interest      income expanded $139,000, or 9.7%, to $1.6 million for the three months      ended June 30, 2008 due to an increase of $59,000, or 5.4%, from deposit      account fees and a $43,000 loss on the sale of securities in the second      quarter of 2007. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Non-interest      expenses grew $975,000, or 14.8%, to $7.6 million for the second quarter      of 2008 from $6.6 million in the same period last      year.  Salaries and benefits increased $464,000, or 12.4%,      reflecting staffing costs for our new East Longmeadow and Agawam branches      opened in 2008, a higher cash incentive accrual associated with improved      financial performance and annual wage adjustments.  Occupancy      costs expanded $97,000, or 20.2%, mainly due to the two branches opened in      2008.  Data processing expenses increased $162,000, or 24.8%, 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 $109,000, or 41.4%, related to      the Company’s annual meeting of shareholders held in June      2008.  Other expenses rose $151,000, or 15.2%, in connection      with a higher quarterly Federal Deposit Insurance Corporation insurance      assessment as a result of the expiration of the credit used to reduce the      premium each quarter. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY                                      |
|-----------------------------------------------------------------------------------------|
| CONSOLIDATED      STATEMENTS OF CONDITION                                               |
| (Dollars      in thousands, except par value amounts)                                   |
|                                                                                    |   |   |   |   |   |   |   |   |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |
|                                                                                    |   | June      30, |   |   | December      31, |   |   | June      30, |   |
| Assets                                                                                  |   | 2008 |   |   | 2007 |   |   | 2007 |   |
|                                                                                    |   | (unaudited) |   |   | (audited) |   |   | (unaudited) |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |
| Cash      and cash equivalents                                                          |   | $ | 17,118 |   |   | $ | 14,254 |   |   | $ | 20,561 |   |
| Securities      available for sale, at fair value                                       |   |   | 292,684 |   |   |   | 201,257 |   |   |   | 161,169 |   |
| Securities      held to maturity, at amortized cost                                     |   |   | 3,603 |   |   |   | 3,632 |   |   |   | 3,686 |   |
| Federal      Home Loan Bank of Boston stock, at cost                                    |   |   | 10,257 |   |   |   | 10,257 |   |   |   | 9,885 |   |
| Short-term      investments                                                             |   |   | 1,055 |   |   |   | 1,030 |   |   |   | 1,004 |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans:                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Residential      mortgages                                                              |   |   | 357,103 |   |   |   | 339,470 |   |   |   | 329,199 |   |
| Commercial      mortgages                                                               |   |   | 232,669 |   |   |   | 214,776 |   |   |   | 198,938 |   |
| Construction      loans                                                                 |   |   | 37,312 |   |   |   | 42,059 |   |   |   | 52,191 |   |
| Commercial      loans                                                                   |   |   | 83,918 |   |   |   | 81,562 |   |   |   | 75,544 |   |
| Home      equity loans                                                                  |   |   | 117,422 |   |   |   | 116,241 |   |   |   | 116,939 |   |
| Consumer      loans                                                                     |   |   | 29,610 |   |   |   | 30,587 |   |   |   | 30,751 |   |
| Total      loans                                                                        |   |   | 858,034 |   |   |   | 824,695 |   |   |   | 803,562 |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      deferred loan costs and fees                                                   |   |   | 2,285 |   |   |   | 2,136 |   |   |   | 1,395 |   |
| Allowance      for loan losses                                                          |   |   | (8,162 | ) |   |   | (7,714 | ) |   |   | (7,721 | ) |
| Loans,      net                                                                         |   |   | 852,157 |   |   |   | 819,117 |   |   |   | 797,236 |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Other      real estate owned                                                            |   |   | 630 |   |   |   | 880 |   |   |   | - |   |
| Deferred      tax asset, net                                                            |   |   | 8,765 |   |   |   | 4,953 |   |   |   | 5,083 |   |
| Premises      and equipment, net                                                        |   |   | 12,087 |   |   |   | 10,600 |   |   |   | 10,614 |   |
| Bank-owned      life insurance                                                          |   |   | 6,945 |   |   |   | 6,652 |   |   |   | 6,515 |   |
| Other      assets                                                                       |   |   | 8,905 |   |   |   | 6,649 |   |   |   | 6,994 |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      assets                                                                       |   | $ | 1,214,206 |   |   | $ | 1,079,281 |   |   | $ | 1,022,747 |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities      and Stockholders' Equity                                               |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits:                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand                                                                                  |   | $ | 111,815 |   |   | $ | 102,010 |   |   | $ | 104,773 |   |
| NOW                                                                                     |   |   | 38,783 |   |   |   | 35,207 |   |   |   | 42,258 |   |
| Savings                                                                                 |   |   | 88,230 |   |   |   | 65,711 |   |   |   | 63,431 |   |
| Money      market                                                                       |   |   | 167,115 |   |   |   | 168,107 |   |   |   | 176,633 |   |
| Certificates      of deposit                                                            |   |   | 368,764 |   |   |   | 347,647 |   |   |   | 338,658 |   |
| Total      deposits                                                                     |   |   | 774,707 |   |   |   | 718,682 |   |   |   | 725,753 |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Federal      Home Loan Bank of Boston advances                                          |   |   | 190,389 |   |   |   | 107,997 |   |   |   | 142,519 |   |
| Repurchase      agreements                                                              |   |   | 8,963 |   |   |   | 13,864 |   |   |   | 7,990 |   |
| Escrow      funds held for borrowers                                                    |   |   | 1,324 |   |   |   | 1,356 |   |   |   | 1,113 |   |
| Due      to broker                                                                      |   |   | 2,829 |   |   |   | - |   |   |   | - |   |
| Capitalized      lease obligation                                                       |   |   | 3,169 |   |   |   | 1,890 |   |   |   | 1,910 |   |
| Accrued      expenses and other liabilities                                             |   |   | 6,199 |   |   |   | 9,372 |   |   |   | 4,866 |   |
| Total      liabilities                                                                  |   |   | 987,580 |   |   |   | 853,161 |   |   |   | 884,151 |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders'      Equity:                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred      stock, par value $0.01 per share, authorized 50,000,000    shares        |   |   |   |   |   |   |   |   |   |
|  at      June 30, 2008 and December 31, 2007 and 5,000,000 sharesat                |   |   |   |   |   |   |   |   |   |   |   |   |
|  June      30, 2007; none issued                                                   |   |   | - |   |   |   | - |   |   |   | - |   |
| Common      stock, par value $0.01 per share; shares authorized      100,000,000        |   |   |   |   |   |   |   |   |   |
|  at      June 30, 2008 and December 31, 2007 and 60,000,000 at June 30,      2007; |   |   |   |   |   |   |   |   |   |
|  shares      issued and outstanding: 17,763,747 at June 30, 2008 and               |   |   |   |   |   |   |   |   |   |   |   |   |
|  December      31, 2007; shares issued: 17,205,995 at June 30, 2007                |   |   | 178 |   |   |   | 178 |   |   |   | 172 |   |
| Additional      paid-in capital                                                         |   |   | 166,171 |   |   |   | 165,920 |   |   |   | 76,700 |   |
| Retained      earnings                                                                  |   |   | 74,858 |   |   |   | 73,026 |   |   |   | 71,337 |   |
| Unearned      compensation                                                              |   |   | (12,486 | ) |   |   | (12,835 | ) |   |   | (5,550 | ) |
| Accumulated      other comprehensive loss, net of taxes                                 |   |   | (2,095 | ) |   |   | (169 | ) |   |   | (2,190 | ) |
| Treasury      stock, at cost (134,142 shares at June 30, 2007)                          |   |   | - |   |   |   | - |   |   |   | (1,873 | ) |
| Total      stockholders' equity                                                         |   |   | 226,626 |   |   |   | 226,120 |   |   |   | 138,596 |   |
|                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      liabilities and stockholders' equity                                         |   | $ | 1,214,206 |   |   | $ | 1,079,281 |   |   | $ | 1,022,747 |   |

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| UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY        |
|-----------------------------------------------------------|
| CONSOLIDATED      INCOME STATEMENTS                       |
| (Amounts      in thousands, except per share amounts)     |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                      |   | Three      Months Ended |   |   | Six      Months Ended |   |
|                                                      |   | June      30, |   |   | June      30, |   |
|                                                      |   | 2008 |   |   | 2007 |   |   | 2008 |   |   | 2007 |   |
|                                                      |   | (unaudited) |   |   | (unaudited) |   |
| Interest      and dividend income:                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                                     |   | $ | 12,295 |   |   | $ | 12,350 |   |   | $ | 24,842 |   |   | $ | 24,305 |   |
| Investments                                               |   |   | 3,560 |   |   |   | 1,850 |   |   |   | 6,178 |   |   |   | 3,832 |   |
| Other      interest-earning assets                        |   |   | 118 |   |   |   | 313 |   |   |   | 359 |   |   |   | 688 |   |
| Total      interest and dividend income                   |   |   | 15,973 |   |   |   | 14,513 |   |   |   | 31,379 |   |   |   | 28,825 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      expense:                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                                  |   |   | 4,359 |   |   |   | 5,477 |   |   |   | 9,332 |   |   |   | 10,658 |   |
| Borrowings                                                |   |   | 1,706 |   |   |   | 1,901 |   |   |   | 3,108 |   |   |   | 4,076 |   |
| Total      interest expense                               |   |   | 6,065 |   |   |   | 7,378 |   |   |   | 12,440 |   |   |   | 14,734 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      interest income before provision for loan losses |   |   | 9,908 |   |   |   | 7,135 |   |   |   | 18,939 |   |   |   | 14,091 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision      for loan losses                            |   |   | 651 |   |   |   | 320 |   |   |   | 835 |   |   |   | 604 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      interest income after provision for loan losses  |   |   | 9,257 |   |   |   | 6,815 |   |   |   | 18,104 |   |   |   | 13,487 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest      income:                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      (loss) gain on sales of securities               |   |   | - |   |   |   | (43 | ) |   |   | 8 |   |   |   | (29 | ) |
| Fee      income on depositors’ accounts             |   |   | 1,156 |   |   |   | 1,097 |   |   |   | 2,233 |   |   |   | 2,135 |   |
| Wealth      management income                             |   |   | 136 |   |   |   | 170 |   |   |   | 286 |   |   |   | 291 |   |
| Other      income                                         |   |   | 282 |   |   |   | 211 |   |   |   | 566 |   |   |   | 436 |   |
| Total      non-interest income                            |   |   | 1,574 |   |   |   | 1,435 |   |   |   | 3,093 |   |   |   | 2,833 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest      expense:                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Salaries      and benefits                                |   |   | 4,199 |   |   |   | 3,735 |   |   |   | 8,240 |   |   |   | 7,573 |   |
| Occupancy      expenses                                   |   |   | 578 |   |   |   | 481 |   |   |   | 1,087 |   |   |   | 972 |   |
| Marketing      expenses                                   |   |   | 441 |   |   |   | 449 |   |   |   | 799 |   |   |   | 771 |   |
| Data      processing expenses                             |   |   | 815 |   |   |   | 653 |   |   |   | 1,534 |   |   |   | 1,295 |   |
| Professional      fees                                    |   |   | 372 |   |   |   | 263 |   |   |   | 815 |   |   |   | 652 |   |
| Other      expenses                                       |   |   | 1,145 |   |   |   | 994 |   |   |   | 2,251 |   |   |   | 1,959 |   |
| Total      non-interest expense                           |   |   | 7,550 |   |   |   | 6,575 |   |   |   | 14,726 |   |   |   | 13,222 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      before income taxes                           |   |   | 3,281 |   |   |   | 1,675 |   |   |   | 6,471 |   |   |   | 3,098 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      tax expense                                   |   |   | 1,272 |   |   |   | 697 |   |   |   | 2,496 |   |   |   | 1,286 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income                                           |   | $ | 2,009 |   |   | $ | 978 |   |   | $ | 3,975 |   |   | $ | 1,812 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      per share:                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                     |   | $ | 0.12 |   |   | $ | 0.06 |   |   | $ | 0.24 |   |   | $ | 0.11 |   |
| Diluted                                                   |   | $ | 0.12 |   |   | $ | 0.06 |   |   | $ | 0.24 |   |   | $ | 0.11 |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted      average shares outstanding:                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                     |   |   | 16,248 |   |   |   | 16,888 |   |   |   | 16,240 |   |   |   | 16,913 |   |
| Diluted                                                   |   |   | 16,336 |   |   |   | 16,975 |   |   |   | 16,304 |   |   |   | 16,987 |   |

----

| UNITED      FINANCIAL BANCORP, INC. AND SUBSIDIARY                                                                       |
|--------------------------------------------------------------------------------------------------------------------------|
| SELECTED      DATA AND RATIOS (unaudited)                                                                                |
| (Dollars      in thousands, except per share amounts)                                                                    |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                     |   | At      or For The Quarters Ended |   |
|                                                                                                                     |   | Jun.      30 |   |   | Mar.      31 |   |   | Dec.      31 |   |   | Sept.      30 |   |   | Jun.      30 |   |
|                                                                                                                     |   | 2008 |   |   | 2008 |   |   | 2007 |   |   | 2007 |   |   | 2007 |   |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      Results:                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      interest income                                                                                                 |   | $ | 9,908 |   |   | $ | 9,031 |   |   | $ | 7,823 |   |   | $ | 7,253 |   |   | $ | 7,135 |   |
| Loan      loss provision                                                                                                 |   |   | 651 |   |   |   | 184 |   |   |   | 385 |   |   |   | 436 |   |   |   | 320 |   |
| Non-interest      income                                                                                                 |   |   | 1,574 |   |   |   | 1,519 |   |   |   | 1,490 |   |   |   | 1,412 |   |   |   | 1,435 |   |
| Non-interest      expenses                                                                                               |   |   | 7,550 |   |   |   | 7,176 |   |   |   | 6,686 |   |   |   | 6,131 |   |   |   | 6,575 |   |
| Net      income                                                                                                          |   |   | 2,009 |   |   |   | 1,966 |   |   |   | 1,274 |   |   |   | 1,291 |   |   |   | 978 |   |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Performance      Ratios (annualized):                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Return      on average assets                                                                                            |   |   | 0.68 | % |   |   | 0.72 | % |   |   | 0.48 | % |   |   | 0.50 | % |   |   | 0.38 | % |
| Return      on average equity                                                                                            |   |   | 3.52 | % |   |   | 3.46 | % |   |   | 3.02 | % |   |   | 3.69 | % |   |   | 2.82 | % |
| Net      interest margin                                                                                                 |   |   | 3.46 | % |   |   | 3.40 | % |   |   | 3.02 | % |   |   | 2.91 | % |   |   | 2.90 | % |
| Non-interest      income to average total assets                                                                         |   |   | 0.53 | % |   |   | 0.55 | % |   |   | 0.56 | % |   |   | 0.55 | % |   |   | 0.56 | % |
| Non-interest      expense to average total assets                                                                        |   |   | 2.55 | % |   |   | 2.62 | % |   |   | 2.50 | % |   |   | 2.38 | % |   |   | 2.58 | % |
| Efficiency      ratio (excludes gains/losses on sales of securities and    loans)                                        |   |   | 65.76 | % |   |   | 68.07 | % |   |   | 70.99 | % |   |   | 69.63 | % |   |   | 76.34 | % |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Per      Share Data:                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      earnings per share                                                                                          |   | $ | 0.12 |   |   | $ | 0.12 |   |   | $ | 0.08 |   |   | $ | 0.08 |   |   | $ | 0.06 |   |
| Book      value per share                                                                                                |   | $ | 12.76 |   |   | $ | 12.86 |   |   | $ | 12.73 |   |   | $ | 8.28 |   |   | $ | 8.12 |   |
| Market      price at period end (1)                                                                                      |   | $ | 11.17 |   |   | $ | 11.08 |   |   | $ | 11.10 |   |   | $ | 12.06 |   |   | $ | 13.59 |   |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Risk      Profile                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity      as a percentage of assets                                                                                    |   |   | 18.66 | % |   |   | 19.81 | % |   |   | 20.95 | % |   |   | 13.28 | % |   |   | 13.55 | % |
| Net      charge-offs to average loans outstanding                                                                        |   |   | 0.06 | % |   |   | 0.12 | % |   |   | 0.13 | % |   |   | 0.27 | % |   |   | 0.01 | % |
| Non-performing      assets as a percent of total assets                                                                  |   |   | 0.39 | % |   |   | 0.32 | % |   |   | 0.25 | % |   |   | 0.18 | % |   |   | 0.29 | % |
| Non-performing      loans as a percent of total loans, gross                                                             |   |   | 0.48 | % |   |   | 0.32 | % |   |   | 0.22 | % |   |   | 0.12 | % |   |   | 0.37 | % |
| Allowance      for loan losses as a percent of total loans, gross                                                        |   |   | 0.95 | % |   |   | 0.93 | % |   |   | 0.94 | % |   |   | 0.93 | % |   |   | 0.96 | % |
| Allowance      for loan losses as a percent of non-performing loans                                                      |   |   | 197.39 | % |   |   | 285.41 | % |   |   | 432.16 | % |   |   | 755.16 | % |   |   | 259.79 | % |
| Loans      delinquent 60 days or more as a percent of total loans                                                        |   |   | 0.74 | % |   |   | 0.81 | % |   |   | 0.66 | % |   |   | 0.48 | % |   |   | 0.66 | % |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Average      Balances                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                                                                                                    |   | $ | 845,304 |   |   | $ | 828,302 |   |   | $ | 820,164 |   |   | $ | 812,756 |   |   | $ | 797,751 |   |
| Securities                                                                                                               |   |   | 288,502 |   |   |   | 211,880 |   |   |   | 193,099 |   |   |   | 168,498 |   |   |   | 166,163 |   |
| Total      interest-earning assets                                                                                       |   |   | 1,146,397 |   |   |   | 1,061,978 |   |   |   | 1,036,253 |   |   |   | 998,336 |   |   |   | 985,519 |   |
| Total      assets                                                                                                        |   |   | 1,183,627 |   |   |   | 1,095,866 |   |   |   | 1,069,060 |   |   |   | 1,032,225 |   |   |   | 1,018,509 |   |
| Deposits                                                                                                                 |   |   | 761,990 |   |   |   | 730,094 |   |   |   | 721,634 |   |   |   | 720,330 |   |   |   | 715,173 |   |
| FHLBB      advances                                                                                                      |   |   | 170,052 |   |   |   | 116,519 |   |   |   | 157,819 |   |   |   | 156,150 |   |   |   | 149,853 |   |
| Capital                                                                                                                  |   |   | 228,241 |   |   |   | 227,413 |   |   |   | 168,910 |   |   |   | 139,820 |   |   |   | 138,896 |   |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Average      Yields/Rates (annualized)                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                                                                                                    |   |   | 5.82 | % |   |   | 6.06 | % |   |   | 6.24 | % |   |   | 6.26 | % |   |   | 6.19 | % |
| Securities                                                                                                               |   |   | 4.94 | % |   |   | 4.94 | % |   |   | 4.87 | % |   |   | 4.79 | % |   |   | 4.46 | % |
| Total      interest-earning assets                                                                                       |   |   | 5.57 | % |   |   | 5.80 | % |   |   | 5.96 | % |   |   | 6.00 | % |   |   | 5.89 | % |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Savings      accounts                                                                                                    |   |   | 1.14 | % |   |   | 0.98 | % |   |   | 1.05 | % |   |   | 0.90 | % |   |   | 0.91 | % |
| Money      market/NOW accounts                                                                                           |   |   | 1.60 | % |   |   | 2.03 | % |   |   | 2.71 | % |   |   | 2.81 | % |   |   | 2.76 | % |
| Certificates      of deposit                                                                                             |   |   | 3.62 | % |   |   | 4.24 | % |   |   | 4.66 | % |   |   | 4.70 | % |   |   | 4.58 | % |
| FHLBB      advances                                                                                                      |   |   | 3.77 | % |   |   | 4.47 | % |   |   | 4.82 | % |   |   | 4.90 | % |   |   | 4.75 | % |
| Total      interest-bearing liabilities                                                                                  |   |   | 2.90 | % |   |   | 3.37 | % |   |   | 3.87 | % |   |   | 3.92 | % |   |   | 3.79 | % |
|                                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (1)      Prices at September 30, and June 30, 2007 have been adjusted by the second      step exchange ratio of 1.04079. |   |   |   |   |   |   |   |   |   |