United Financial Bancorp 8-K Regulation FD Disclosure

Forward Looking Statements

Holding Company for

NASDAQ: UBNK

Keefe, Bruyette & Woods

2013 Community Bank Conference

July 30 –

31, 2013

Certain

comments

made

in

the

course

of

this

presentation

by

UBNK

may

be

forward-looking

in

nature.

These

include

statements

about

realizing

cost

savings

in

connection

with

our

recent

acquisition

and

UBNK’s

operating

results

or

financial condition for periods ending or on dates occurring after June 30, 2013 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.

Exhibit 99.1

Thirty-seven branches in six counties in MA and CT

2

History of Expansion through Organic Growth and Acquisitions

3

Integration of Connecticut into United Franchise

4

•

5.6% increase in total deposits during first half of 2013

($30.3MM)

•

4.7% increase in core deposits ($14.1MM)

•

$32MM of commercial loans closed

•

No loss of significant customer relationships

Execution of Cross Selling Initiatives

•

5% increase in average deposit balances

•

14% reduction in single-service households during first six

months of 2013

•

Commercial pipeline still strong

Balance Sheet Growth

Worcester Trends Since February 2010 Conversion

5

Deposits

•

74% overall growth in core deposits

•

Account cross sell metrics similar to Western

Massachusetts (5+ accounts per household)

Worcester Commercial Lending

•

No major loss of account relationships

•

Worcester loan totals now exceed $270MM, up more than

30% since acquisition of Commonwealth National Bank

•

Commercial loan outstandings growing at 9%

compounded rate

Next Steps for Organic Growth

6

•

Cost saves from branch closures will benefit future earnings

•

High

level

of

investment

in

branches,

technology

and

advertising

in

new

markets

•

2008 stock-based incentive plan has fully vested

•

Impact of rising rates on Mortgage Banking will be muted ($213k pre-tax gain in

first six months -

$126k after-tax or less than 1 cent per share)

•

Dodd-Frank impact on debit card income exceeds 1 cent per share each quarter

at present

•

Revenue generation being studied across business lines

•

Process analysis of all divisions, increasing efficiency as we build capacity

•

Opportunities for additional cost reductions in facilities maintenance, technology

and work flow

•

CT cross selling and on-boarding of customers will continue, market

demographics favorable to Western Massachusetts

Profitability Continues to Evolve

Profitability and Efficiency Improvements Underway

Shift Toward Bank-Like Mix for Loans

Total Loans $1,860

QTD Yield 4.61%

Total Loans $825

QTD Yield 6.24%

Commercial Real Estate Portfolio Analysis*

*In millions

•

CRE concentration= 244%

•

36% Owner Occupied

8

Diversified Construction and C&I Mix

Total Commercial Construction Loans: $67 million

4% of Overall Loan Portfolio

Total C&I Loans: $305 million

9

$25

Asset Quality-Non Performing Loans

10

Asset Quality -

Net Charge-Offs

11

Deposit Mix as of June 30, 2013

(in millions)

Total Deposits $1,925, 62% Core Deposits

QTD Cost of Deposits 0.60%

Deposit Mix as of December  31, 2007

(in millions)

Total Deposits $719, 52% Core Deposits

QTD Cost of Deposits 3.11%

12

Strong and Balanced Deposit Base with 38% Reliance on CDs

5 YR CAGR = EPS 26.1%, Core Net Income 24.0%

(1)

13

(1)

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

Quarterly Core EPS and Net Income

(1)

14

(1)

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

Dividend History & Share Buybacks

(1)

(1)

Please refer to appendix for the reconciliation of GAAP and non-GAAP results

(2)

Includes ESOP Plan Termination Share Repurchases in Q4 2012

(3)

Total capital returned to shareholders exceeded net income

15

Financial Performance

(1)

2007

2008

2009

2010

2011

2012

Q1 2013

Q2 2013

Earnings Data (in mm except EPS):

Core Net Income

4.4

$    

8.1

$    

8.7

$     

10.9

$   

11.2

$   

12.8

$     

5.2

$     

4.3

$     

Core Earnings Per Share

$0.26

$0.50

$0.57

$0.70

$0.74

$0.83

$0.25

$0.22

Net Interest Income

29.2

$  

39.8

$  

41.0

$   

52.9

$   

52.8

$   

56.2

$     

20.5

$   

19.7

$   

Provision for Loan Losses

1.4

1.8

3.0

2.3

3.2

3.1

1.0

0.9

Normalized Non-interest Income

5.7

6.6

8.7

8.7

9.3

10.8

2.8

2.8

Normalized Non-interest Expenses

26.0

30.7

33.5

42.7

44.1

46.6

15.2

15.7

Profitability Data and Ratios:

Average Earning Assets (mm)

$1,001

$1,147

$1,208

$1,448

$1,504

$1,893

$2,218

$2,230

Net Interest Margin

2.91%

3.47%

3.39%

3.65%

3.51%

3.43%

3.70%

3.53%

Efficiency Ratio

74.02%

66.16%

68.49%

69.55%

71.08%

70.49%

65.34%

69.93%

Asset Quality:

Non-performing Assets/Total Assets

0.25%

0.46%

1.16%

0.69%

0.65%

0.72%

0.64%

0.65%

Allowance for Loan Losses/ Total Loans   

(excluding purchased loans)

0.94%

0.95%

1.07%

1.18%

1.17%

1.05%

1.04%

1.03%

Net Charge-offs/Total Average Loans

0.12%

0.15%

0.23%

0.13%

0.19%

0.18%

0.07%

0.11%

Capital:

Tangible Equity/Tangible Assets

20.95%

18.03%

14.13%

13.54%

13.53%

11.15%

11.00%

10.62%

Tangible Book Value Per Share

12.73

$

13.01

$

12.93

$

13.30

$

13.90

$ 

13.04

$   

13.15

$ 

13.00

$

Dividends Per Share

0.24

$  

0.27

$  

0.28

$   

0.30

$   

0.34

$   

0.38

$     

0.10

$   

0.11

$   

Period End Stock Price

11.10

$

15.14

$

13.11

$

15.27

$

16.09

$ 

15.72

$   

15.20

$ 

15.15

$

(1)

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

16

Net Interest Margin

17

Efficiency Ratio

(1)

18

(1)

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

Total Assets (2007 –

Q2 2013 CAGR = 16.1%)

19

Tangible Equity/Tangible Assets

(1)

20

(1)

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

Summary –

Why Invest In UBNK?

21

Experienced management team focused on creating shareholder value

•

Superior

return

on

your

investment:

CAGR

5.9%

vs.

S&P

CAGR

3.5%

August

2005

–

June

2013

(excl.

dividends)

•

Good track record of increasing dividends (quarterly dividends increased 120% since February 2006)

•

Increased quarterly cash dividend by 10% to $0.11 per share in April, 2013

Effective capital management strategies

•

Successful stock repurchase program (acquired 4.6 million shares

at an average price of $14.27 since June 2008)

•

Competitive dividend yield (2.8% as of 07/19/13)

•

Repurchased 67% of authorized  shares under October 2012 repurchase program

Prudent

Deployment

of

Excess

Capital

to

Increase

Franchise

Value

through

Strategic

Transactions

•

Acquisition of CNB Financial in November 2009

•

Acquisition of New England Bancshares in November 2012

•

New loan production offices: Beverly, MA (2011) and Glastonbury,

CT (Q3 2012)

•

New branch opened in Northborough, MA (December 2012)

Remain Well Capitalized (TCE ratio of 10.6%)

•

Ability and capacity to continue to execute capital deployment strategies

•

Well positioned for organic and strategic growth opportunities

Strong Asset quality

•

Largest seven NPLs comprise 35% of 06/30/12 total (workout strategies in place)

•

85%

of Investment portfolio is agency backed

Appendix

22

Reconciliation of GAAP and Non-GAAP Results

23

Mar. 31

Jun. 30

Sep. 30

Dec. 31

Mar. 31

Jun. 30

($ in thousands)

2012

2012

2012

2012

2013

2013

Non-Interest Income (GAAP)

2,573

$       

2,570

$       

2,511

$       

2,969

$       

2,798

$           

3,015

$       

Cost Basis Gain on Venture Capital Investment

-

-

-

-

-

(200)

Other Than Temporary Impairment Charge

-

-

202

-

-

-

Normalized Non-Interest Income (Non-GAAP)

2,573

2,570

2,713

2,969

2,798

2,815

Non-Interest Expense (GAAP)

11,275

11,468

11,192

22,305

15,850

16,269

Acquisition Costs

-

(592)

(366)

(3,994)

(158)

(123)

Branch Closing Expenses

-

-

-

-

(510)

(477)

ESOP Plan Termination

-

-

-

(4,482)

-

-

FHLBB Prepayment Penalty

-

-

-

(207)

-

-

Special FDIC Insurance Assessment

-

-

-

-

-

-

Normalized Non-Interest Expense (Non-GAAP)

11,275

10,876

10,826

13,622

15,182

15,669

Net Income (GAAP)

2,849

2,582

2,929

(4,732)

4,701

4,049

Adjustments to GAAP Net Income:

   Other Than Temporary Impairment Charge

-

-

202

-

-

-

   Cost Basis Gain on Venture Capital Investment

-

-

-

-

-

(200)

   Acquisition Costs

-

592

366

3,994

158

123

   Branch Closing Costs

-

-

-

-

510

477

   ESOP Plan Termination

-

-

-

4,482

-

-

   FLHBB Prepayment Penalty

-

-

-

207

-

-

   Special FDIC Assessment

-

-

-

-

-

-

   Income Tax Effect - All Items

-

-

(195)

(465)

(214)

(119)

Normalized Net Income (Non-GAAP)

2,849

3,174

3,302

3,486

5,155

4,330

Per Share Data:

Diluted earnings per share (GAAP)

0.19

$          

0.17

$          

0.20

$          

(0.28)

$         

0.23

$               

0.20

$          

Diluted earnings per share (Non-GAAP)

0.19

$          

0.21

$          

0.22

$          

0.20

$          

0.25

$               

0.22

$          

Performance Ratios (annualized):

Return on average assets (GAAP)

0.70%

0.62%

0.71%

(0.93)%

0.78%

0.67%

Return on average assets (Normalized)

0.70%

0.77%

0.80%

0.68%

0.86%

0.72%

Return on average equity (GAAP)

5.00%

4.53%

5.10%

(7.00)%

6.13%

5.32%

Return on average equity (Normalized)

5.00%

5.57%

5.75%

5.15%

6.73%

5.69%

Efficiency ratio (GAAP)

72.44%

73.04%

69.74%

117.84%

68.22%

72.61%

Efficiency ratio (Normalized)

72.44%

69.27%

67.46%

71.97%

65.34%

69.93%

At or For the Quarters Ended

Reconciliation of GAAP and Non-GAAP Results

24

Mar. 31

Jun. 30

Sep. 30

Dec. 31

Mar. 31

Jun. 30

($ in thousands)

2012

2012

2012

2012

2013

2013

Total Loans (Gross)

1,139,344

$

1,162,356

$

1,218,007

$

1,816,076

$

1,839,331

$   

1,860,760

$

Acquired Loans

(136,393)

(126,394)

(118,611)

(659,614)

(611,250)

(583,553)

Purchased Loans (GE Loans)

(18,284)

(6,443)

(6,348)

(5,021)

(4,913)

(4,837)

Total Loans (Non-GAAP)

984,667

1,029,519

1,093,048

1,151,441

1,223,168

1,272,370

Total Equity

227,248

228,129

230,163

307,189

306,355

300,319

Goodwill

(8,192)

(8,192)

(8,192)

(39,852)

(39,585)

(40,663)

Other Intangible Assets

(712)

(741)

(699)

(4,514)

(4,387)

(4,304)

Tangible Equity (Non-GAAP)

218,344

219,196

221,272

262,823

262,383

255,352

Total Assets

1,660,198

1,653,626

1,683,684

2,402,303

2,429,201

2,448,350

Goodwill

(8,192)

(8,192)

(8,192)

(39,852)

(39,585)

(40,663)

Other Intangible Assets

(712)

(741)

(699)

(4,514)

(4,387)

(4,304)

Tangible Assets (Non-GAAP)

1,651,294

1,644,693

1,674,793

2,357,937

2,385,229

2,403,383

Asset Quality:

Allowance for Loan Losses/Total Loans

0.99%

1.01%

1.03%

0.67%

0.69%

0.70%

Allowance for Loan Losses/Total Loans excl. Purchased Loans

1.15%

1.14%

1.15%

1.05%

1.04%

1.03%

Capital:

Total Equity/Total Assets

13.69%

13.80%

13.67%

12.79%

12.61%

12.27%

Tangible Equity/Tangible Assets

13.22%

13.33%

13.21%

11.15%

11.00%

10.62%

Book Value Per Share

14.57

$       

14.70

$       

14.88

$       

15.24

$       

15.36

$           

15.28

$       

Tangible Book Value Per Share

14.00

$       

14.12

$       

14.31

$       

13.04

$       

13.16

$           

13.00

$       

At or For the Quarters Ended

Reconciliation of GAAP and Non-GAAP Results

25

($ 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

10,623

Cost Basis Gain on Venture Capital Investment

-

-

-

-

-

-

-

Other Than Temporary Impairment Charge

-

-

1,377

-

-

-

202

Normalized Non-Interest Income (Non-GAAP)

5,392

5,735

6,597

8,676

8,716

9,343

10,825

Non-Interest Expense (GAAP)

24,036

26,039

30,690

36,858

43,841

44,062

56,240

Acquisition Costs

-

-

-

(2,863)

(1,148)

-

(4,952)

Branch Closing Costs

-

-

-

-

-

-

-

ESOP Plan Termination

-

-

-

-

-

-

(4,482)

FHLBB Prepayment Penalty

-

-

-

-

-

-

(207)

Special FDIC Insurance Assessment

-

-

-

(538)

-

-

-

Normalized Non-Interest Expense (Non-GAAP)

24,036

26,039

30,690

33,458

42,693

44,062

46,599

Net Income (GAAP)

4,924

4,377

7,298

5,806

10,032

11,184

3,628

Adjustments to GAAP Net Income:

   Other Than Temporary Impairment Charge

-

-

1,377

-

-

-

202

   Cost Basis Gain on Venture Capital Investment

-

-

-

-

-

   Acquisition Costs

-

-

-

2,863

1,148

-

4,952

   Branch Closing Costs

-

-

-

-

-

-

-

   ESOP Plan Termination

-

-

-

-

-

-

4,482

   FLHBB Prepayment Penalty

-

-

-

-

-

-

207

   Special FDIC Assessment

-

-

-

538

-

-

-

   Income Tax Effect - All Items

-

-

(527)

(556)

(329)

-

(660)

Normalized Net Income (Non-GAAP)

4,924

4,377

8,148

8,650

10,851

11,184

12,811

Per Share Data:

Diluted earnings per share (GAAP)

0.29

$             

0.26

$             

0.44

$             

0.38

$             

0.65

$             

0.74

$             

0.24

$             

Diluted earnings per share (Non-GAAP)

0.29

$             

0.26

$             

0.50

$             

0.57

$             

0.70

$             

0.74

$             

0.83

$             

Performance Ratios (annualized):

Return on average assets (GAAP)

0.51%

0.42%

0.62%

0.46%

0.65%

0.70%

0.21%

Return on average assets (Normalized)

0.51%

0.42%

0.69%

0.68%

0.71%

0.70%

0.73%

Return on average equity (GAAP)

3.59%

2.99%

3.23%

2.67%

4.49%

4.94%

1.51%

Return on average equity (Normalized)

3.59%

2.99%

3.60%

3.97%

4.85%

4.94%

5.34%

Efficiency ratio (GAAP)

72.95%

74.02%

66.16%

75.45%

71.42%

71.08%

85.08%

Efficiency ratio (Normalized)

72.95%

74.02%

66.16%

68.49%

69.55%

71.08%

70.49%

At or For the Years Ended December 31,

Reconciliation of GAAP and Non-GAAP Results

26

($ 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

1,816,076

Acquired Loans

-

-

-

(242,930)

(209,785)

(148,925)

(659,614)

Purchased Loans (GE Loans)

-

-

-

(22,655)

(21,448)

(19,066)

(5,021)

Total Loans (Non-GAAP)

762,113

824,695

870,276

856,656

842,878

953,888

1,151,441

Total Equity

137,711

226,120

227,714

225,246

222,576

227,361

307,189

Goodwill

-

-

-

(7,844)

(8,192)

(8,192)

(39,852)

Other Intangible Assets

-

-

-

(927)

(976)

(752)

(4,514)

Tangible Equity (Non-GAAP)

137,711

226,120

227,714

216,475

213,408

218,417

262,823

Total Assets

1,009,433

1,079,281

1,263,134

1,541,040

1,584,877

1,623,522

2,402,303

Goodwill

-

-

-

(7,844)

(8,192)

(8,192)

(39,852)

Other Intangible Assets

-

-

-

(927)

(976)

(752)

(4,514)

Tangible Assets (Non-GAAP)

1,009,433

1,079,281

1,263,134

1,532,269

1,575,709

1,614,578

2,357,937

Asset Quality:

Allowance for Loan Losses/Total Loans

0.95%

0.94%

0.95%

0.82%

0.93%

0.99%

0.67%

Allowance for Loan Losses/Total Loans excl. Purchased Loans

0.95%

0.94%

0.95%

1.07%

1.18%

1.17%

1.05%

Capital:

Total Equity/Total Assets

13.65%

20.95%

18.03%

14.62%

14.04%

14.00%

12.79%

Tangible Equity/Tangible Assets

13.65%

20.95%

18.03%

14.13%

13.54%

13.53%

11.15%

Book Value Per Share

8.03

$           

12.73

$         

13.01

$         

13.38

$         

13.82

$         

14.47

$         

15.24

$         

Tangible Book Value Per Share

8.03

$           

12.73

$         

13.01

$         

12.93

$         

13.30

$         

13.90

$         

13.04

$         

At or For the Years Ended December 31,

Thank you.

27