United Financial Bancorp 8-K Regulation FD Disclosure

Holding Company for

Forward Looking Statements

Certain

comments

made

in

the

course

of

this

presentation

by

UBNK

are

forward-looking

in

nature.

These

include

all

statements

about

UBNK’s

operating

results

or

financial

position

for

periods

ending

or

on

dates

occurring

after 

March

31,

2012

and

usually

use

words

such

as

“expect”,

“anticipate”,

“believe”,

and

similar

expressions.

These

comments

represent

management’s

current

beliefs,

based

upon

information

available

to

it

at

the

time

the

statements

are

made

with

regard

to

the

matters

addressed.

All

forward

looking

statements

are

subject

to

risks

and

uncertainties

that

could

cause

UBNK’s

actual

results

or

financial

condition

to

differ

materially

from

those

expressed

in

or

implied

by

such

statements.

Factors

of

particular

importance

to

UBNK

include,

but

are

not

limited

to:

(1)

changes

in

general

economic

conditions,

including

interest

rates;

(2)

competition

among

providers

of

financial

services;

(3)

changes

in

the

interest

rate

environment

that

reduce

our

margins

or

reduce

the

fair

value

of

financial

instruments;

(4)

adverse

changes

in

the

securities

markets;

and

(5)

our

ability

to

enter

new

markets

successfully

and

capitalize

on

growth

opportunities.

UBNK

does

not

undertake

any

obligation

to

update

or

revise

any

forward-looking

statements,

whether

as

a

result

of

new

information,

future

events

or

otherwise.

NASDAQ: UBNK

Stifel Nicolaus

24 Hour Un-conference

Southwest MA & Northern CT

May 7-8, 2012

Exhibit 99.1

Experienced and Invested Management Team

* As of 03/31/2012

2

Name

Title

Years in

Industry

Prior Experience

Stock

Ownership*

Richard B. Collins

President and Chief Executive

Officer

40+

•

Joined United Bank in 2001.

•

Formerly President of First Massachusetts Bank,

N.A.

143,372

Keith E. Harvey 

Executive Vice President and

Chief Operating Officer,

Operations and Retail Sales

35+

•

Joined United Bank in 1984.

•

Experience concentrated in Retail Bank

Management, Operations and Information

Technology

64,064

Mark A. Roberts 

Executive Vice President and

Chief Financial Officer

25+

•

Joined United Bank in 2006.

•

Formerly VP and Controller at The Connecticut

Bank and Trust Company in Hartford, CT

•

VP Finance at Woronoco Savings Bank

49,252

J. Jeffrey Sullivan 

Executive Vice President and

Chief Lending Officer

20+

•

Joined United Bank in 2003.

•

Formerly SVP Business Development and

Commercial Lending at Bank of Western

Massachusetts          

53,561

Charles R. Valade 

Executive Vice President,

Commercial Lending

35+

•

Joined United Bank in 2009.

•

Founder, President and Chief Executive Officer of

Commonwealth National Bank

47,698

John J. Patterson 

Senior Vice President,                               40+

Risk Management

•

Joined United Bank in 1993.

•

Experience concentrated in Risk Management and

Credit  Administration

32,183

Deploying our Strong Capital Position

3

Dividend History & Share Buybacks*

* As of 03/31/12

(1)

Please refer to page 32 in the appendix for the reconciliation of GAAP and non-GAAP results.

Shares Repurchased

2008

2009

2010

2011

Q1 2012

Total

Amount

261,798

1,537,787

798,242

396,209

114,775

3,108,811

$ Value

$ 3,496,920

$ 20,593,752

$ 10,849,879

$   6,042,446

$   1,855,340

$ 42,838,337

Dividend $ Payout

$ 4,436,000

$   4,238,000

$   4,589,000

$   5,067,000

$   1,322,000

$ 19,652,000

4

$0.29

$0.26

$0.50

$0.57

$0.70

$0.74

$0.19

$0.20

$0.24

$0.27

$0.28

$0.30

$0.34

$0.09

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

$0.80

2006Y

2007Y

2008Y (1)

2009Y (1)

2010Y (1)

2011Y

Q1 2012

Core EPS

Dividends per share

Total Return Stock Performance vs. Major Indexes

Total Return CAGR

UBNK: First Step Aug 2005 –

Mar 2012

9.36%

UBNK: Second Step Dec 2007 –

Mar 2012

13.47%

S&P 500: Aug 2005 –

Mar 2012 (excl. dividends)

2.15%

5

Future Growth and Expansion Opportunities

6

Loan Mix as of March 31, 2012

(in millions)

Shift toward Bank-Like Mix for Loans

$312.1

Loan Mix as of December 31, 2005

(in millions)

7

Commercial Loan Portfolio

Commercial Loans (in millions)

March 31, 2012

CREs over $1 million (in millions)

March 31, 2012

8

CRE Loans Over $1 million (Total $261.0mm)

CRE Mix as of March 31, 2012

(in millions)

Owner Occupied % as of  March 31, 2012

(in millions)

$82.6

$178.4

$63.9

$32.5

$29.0

$61.0

$43.1

$11.2

$5.8

$14.5

9

Reduced Construction and Diversified C&I Mix

Diversified

Average Loan size under $100k

Largest C&I Loan is $6.5 million (cash secured)

Regional Mix: $111 million Springfield and $71 million Worcester

10

1-4 Family

34%

Land Development

23%

Condo

23%

Commercial

20%

Construction Trades

13%

Manufacturing

21%

Wholesale

15%

Retail Other

9%

Transportation

4%

Healthcare

5%

Other Service

33%

Total Commercial Construction Loans: $28.3 million

2.5% of Overall Loan Portfolio

Total C&I Loans: $181.5 million

C&I Mix as of March 31, 2012

(in millions)

Commercial Construction Mix as of March 31, 2012

(in millions)

$5.6

$9.7

$23.6

$37.7

$28.2

$15.9

$8.0

$8.6

$59.5

$6.6

$6.4

Asset Quality

11

Asset Quality

12

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

2007Y

2008Y

2009Y

2010Y

2011Y

2012Q1

Net Charge

-

offs to Avg Loans

National average

Deposit Mix as of December 31, 2005

(in millions)

Deposit Mix and Growth

Total Deposits $653.6 million

QTD Cost of Total Deposits 2.21%

Total Deposits $1,258.6 million

QTD Cost of Total Deposits 0.89%

$266.6

$311.7

$417.2

$263.1

Deposit Mix as of March 31, 2012

(in millions)

$87.3

$154.2

$133.2

$279.0

Transaction

20%

Money Market

24%

Savings

13%

CDs

43%

Transaction

21%

Money Market

25%

Savings

21%

CDs

33%

13

De Novo Branches: Success Story

14

Franchise Expansion in Attractive Markets

Compelling  Profit Economics

Increase Our Brand Recognition

Established track record of growing de novo branches

Proven ability to acquire deposits quickly: $122.8 million in 6 branches since June 2006

Organic deposit growth is a key to expanding market share

Expand our presence in new markets  (i.e. northern Connecticut, east of Worcester)

Short time to break-even

Gain at least $5 million in deposits per year

Any income in first 3 years from loans accelerates time to break-even

5 years is expected full payback time

Continue to expand our products and services

Strong and effective marketing programs

Efficient and profitable branches enhance future success

Financial Performance

2006

2007

2008

(1)

2009

(1)

2010

(1)

2011

Q1 2012

Earnings Data (in mm except EPS):

Core Net Income

4.9

$     

4.4

$      

8.1

$      

8.6

$      

10.9

$     

11.2

$   

2.8

$     

Core Earnings Per Share

$0.29

$0.26

$0.50

$0.57

$0.70

$0.74

$0.19

Net Interest Income

27.6

$   

29.2

$    

39.8

$    

41.0

$    

52.9

$     

52.8

$   

13.1

$   

Provision for Loan Losses

1.0

1.4

1.8

3.0

2.3

3.2

0.7

Normalized Non-interest Income

5.4

5.7

6.6

8.7

8.7

9.4

2.6

Normalized Non-interest Expenses

24.0

26.0

30.7

33.5

42.7

44.1

11.3

Profitability Data and Ratios:

Average Earning Assets (mm)

$926

$1,001

$1,147

$1,208

$1,448

$1,504

$1,526

Net Interest Margin

2.97%

2.91%

3.47%

3.39%

3.65%

3.51%

3.43%

Efficiency Ratio

72.95%

74.02%

66.16%

68.49%

69.55%

71.07%

72.44%

Asset Quality:

Non-performing Assets/Total Assets

0.18%

0.25%

0.46%

1.16%

0.69%

0.65%

0.70%

Allowance for Loan Losses/ Total Loans   

(excluding purchased loans)

0.95%

0.94%

0.95%

1.07%

1.18%

1.16%

1.15%

Net Charge-offs/Total Average Loans

0.02%

0.12%

0.15%

0.23%

0.13%

0.19%

0.16%

Capital:

Tangible Equity/Tangible Assets

13.64%

20.95%

18.03%

14.20%

13.60%

13.53%

13.22%

Tangible Book Value Per Share

8.01

$   

12.73

$ 

13.01

$  

12.93

$  

13.32

$   

13.90

$ 

14.00

$ 

Dividends Per Share

0.20

$   

0.24

$    

0.27

$    

0.28

$    

0.30

$     

0.34

$   

0.09

$   

Period End Stock Price

13.80

$ 

11.10

$ 

15.14

$  

13.11

$  

15.27

$   

16.09

$ 

15.82

$ 

(1)

Please refer to pages 32 and 33 in the appendix for the reconciliation of GAAP and non-GAAP results.

15

Why hold shares of UBNK?

16

Appendix

17

Loan Trend

18

Deposit Trend

19

Annual Core Net Income  & Earnings Per Share

6 YR CAGR = EPS 14.4%, Net Income 17.0%

(1)

Please refer to page 32 in the appendix for the reconciliation of GAAP and non-GAAP results.

20

Quarterly Core Net Income

(1)

& Earnings Per Share

(1)

(1)

Please refer to page 31 in the appendix for the reconciliation of GAAP and non-GAAP results.

21

Average Interest-Earning Assets (000’s)

22

Net Interest Margin

23

Non-interest Income/Average Assets

24

Non-interest Expense/Average Assets

25

Efficiency Ratio

26

Total Assets (000’s)

27

Asset Quality

28

Tangible Equity/Tangible Assets

(1)

29

(1)

Please refer to page 33 in the appendix for the reconciliation of GAAP and non-GAAP results.

20.95%

18.03%

14.20%

13.60%

13.53%

13.22%

10.00%

11.00%

12.00%

13.00%

14.00%

15.00%

16.00%

17.00%

18.00%

19.00%

20.00%

21.00%

22.00%

2007Y

2008Y

2009Y

2010Y

2011Y

Q1'12

Tangible BV/Share vs. Stock Price

(1)

30

(1)

Please refer to page 33 in the appendix for the reconciliation of GAAP and non-GAAP results.

$12.73

$13.01

$12.93

$13.30

$13.90

$14.00

$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

$14.00

$16.00

$18.00

2007Y

2008Y

2009Y

2010Y

2011Y

Q1'12

Tangible BV/Share

Stock Price

Reconciliation of GAAP and Non-GAAP for the Eight Quarters Ended December 31, 2010

31

Reconciliation of GAAP and Non-GAAP Results for the Years 2006-Q1 2012

32

The following table presents reconciliations of the company’s GAAP and Non-GAAP (Normalized) results at and for the years ended December 31, 2006, 2007, 2008, 2009, 2010, 2011

and  March 31, 2012

March 31

($ in thousands)

2006

2007

2008

2009

2010

2011

2012

Non-Interest Income (GAAP)

5,392

5,735

5,220

8,676

8,716

9,343

2,573

Other Than Temporary Impairment Charge

-

-

1,377

-

-

-

-

Adjusted Non-Interest Income (Non-GAAP)

5,392

5,735

6,597

8,676

8,716

9,343

2,573

Non-Interest Expense (GAAP)

24,036

26,039

30,690

36,858

43,841

44,062

11,275

Acquisition Costs

-

-

-

(2,863)

(1,148)

-

-

Special FDIC Insurance Assessment

-

-

-

(537)

-

-

-

Adjusted Non-Interest Expense (Non-GAAP)

24,036

26,039

30,690

33,458

42,693

44,062

11,275

Net Income (GAAP)

4,924

4,377

7,298

5,806

10,032

11,184

2,849

Adjustments to GAAP Net Income:

   Other Than Temporary Impairment Charge

-

-

1,377

-

-

-

-

   Acquisition Costs

-

-

-

2,863

1,148

-

-

   Special FDIC Assessment

-

-

-

537

-

-

-

   Income Tax Effect - All Items

-

-

(527)

(556)

(329)

-

-

Adjusted Net Income (Non-GAAP)

4,924

4,377

8,148

8,650

10,851

11,184

2,849

Per Share Data:

Diluted earnings per share (GAAP)

0.30

$          

0.26

$          

0.44

$          

0.38

$          

0.65

$          

0.74

$             

0.19

$          

Diluted earnings per share (Non-GAAP)

0.30

$          

0.26

$          

0.50

$          

0.57

$          

0.70

$          

0.74

$             

0.19

$          

Performance Ratios (annualized):

Return on average assets (GAAP)

0.51%

0.42%

0.62%

0.46%

0.65%

0.70%

0.70%

Return on average assets (Normalized)

0.51%

0.42%

0.69%

0.68%

0.71%

0.70%

0.70%

Return on average equity (GAAP)

3.59%

2.99%

3.23%

2.67%

4.49%

4.94%

5.00%

Return on average equity (Normalized)

3.59%

2.99%

3.60%

3.97%

4.85%

4.94%

5.00%

Efficiency ratio (GAAP)

72.95%

74.02%

66.16%

75.45%

71.42%

71.08%

72.44%

Efficiency ratio (Normalized)

72.95%

74.02%

66.16%

68.49%

69.55%

71.08%

72.44%

At or For the Years Ended December 31,

Reconciliation

of

GAAP

and

Non-GAAP

Results

for

the

Years

2006-

Q1

2012

33

March 31

($ in thousands)

2006

2007

2008

2009

2010

2011

2012

Total Loans (Gross)

762,113

824,695

870,276

1,122,241

1,074,111

1,121,879

1,139,344

CNB Acquired Loans

-

-

-

(242,930)

(209,785)

(148,925)

(136,393)

Purchased Loans (GE Loans)

-

-

-

(22,655)

(21,448)

(19,066)

(18,284)

Total Loans (Non-GAAP)

762,113

824,695

870,276

856,656

842,878

953,888

984,667

Total Equity

137,711

226,120

227,714

225,246

222,576

227,361

227,248

    Goodwill

-

-

-

(7,844)

(8,192)

(8,192)

(8,192)

    Other Intangible Assets

-

-

-

(927)

(976)

(752)

(712)

Tangible Equity (Non-GAAP)

137,711

226,120

227,714

216,475

213,408

218,417

218,344

Total Assets

1,009,433

1,079,281

1,263,134

1,541,040

1,584,877

1,623,522

1,660,198

    Goodwill

-

-

-

(7,844)

(8,192)

(8,192)

(8,192)

    Other Intangible Assets

-

-

-

(927)

(976)

(752)

(712)

Tangible Assets (Non-GAAP)

1,009,433

1,079,281

1,263,134

1,532,269

1,576,685

1,614,578

1,651,294

Asset Quality:

Allowance for Loan Losses/Total Loans

0.95%

0.94%

0.95%

0.82%

0.93%

0.99%

0.99%

Allowance for Loan Losses/Total Loans excl. Purchased Loans

0.95%

0.94%

0.95%

1.07%

1.18%

1.17%

1.15%

Capital:

Total Equity/Total Assets

13.65%

20.95%

18.03%

14.62%

14.04%

14.00%

13.69%

Tangible Equity/Tangible Assets

13.65%

20.95%

18.03%

14.13%

13.54%

13.53%

13.22%

Book Value Per Share

8.03

$          

12.73

$        

13.01

$        

13.38

$        

13.82

$        

14.47

$          

14.57

$        

Tangible Book Value Per Share

8.03

$          

12.73

$        

13.01

$        

12.91

$        

13.31

$        

13.90

$          

14.00

$        

At or For the Years Ended December 31,

The following table presents reconciliations of the company's GAAP and Non-GAAP (Normalized) results at and for the years ended December 31, 2006, 2007, 2008, 2009, 2010, 2011 and

March 31, 2012

FOR QUESTIONS, PLEASE CONTACT:

Dena M. Hall, SVP, Marketing and Investor Relations 

(413) 787-

1292

dhall@bankatunited.com

Mark A. Roberts, Executive Vice President and Chief

Financial Officer

(413) 787-1201

mroberts@bankatunited.com

Thank you.

34