UBMT United Financial

GREAT FALLS, Mont., Jan. 26 /PRNewswire-FirstCall/ -- United Financial Corp. (NASDAQ:UBMT) announced that its shareholders, voting at a special meeting yesterday, have approved and adopted a merger agreement pursuant to which the Company will merge with a subsidiary of U.S. Bancorp (NYSE:USB). Approval and adoption of the merger agreement required the affirmative vote of holders of a majority of shares of United's common stock outstanding and entitled to vote. Under the terms of the merger agreement, each share of United common stock issued and outstanding immediately prior to the merger will be converted into the right to receive 0.6825 of a share of common stock of USB. Approval and adoption of the merger agreement by United's shareholders satisfies one of the conditions to the completion of the transaction. All necessary regulatory approvals have also been received and the regulatory waiting period will end on February 6, 2007. The transaction is expected to close on that date or shortly thereafter. About United Financial Corp. United Financial Corp. is a bank holding company headquartered in Great Falls, Montana, with operations in 14 locations in 12 Montana communities. United was organized as a Minnesota corporation in 1996 and conducts banking business in Montana through its wholly owned subsidiary, Heritage Bank, a Montana corporation established in 1923. Caution Regarding Forward-Looking Statements Any statements made regarding the proposed merger transaction between United and USB, the expected timetable for completing the transaction, the satisfaction of closing conditions, timing or satisfactory receipt of regulatory or United shareholder approvals, future products or market growth, and any other statements regarding United's future expectations, beliefs, goals or prospects are forward-looking statements which are subject to risks and uncertainties. For a more complete list and description of such risks and uncertainties, refer to United's Annual Report on Form 10-K for the fiscal year ended December 31, 2005 and Quarterly Report on Form 10-Q for the period ended September 30, 2006, as well as other filings by United with the Securities and Exchange Commission. Actual results may differ materially from those contained in the forward-looking statements in this document. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. United undertakes no obligation and does not intend to update any forward-looking statements after the date of this document, whether as a result of new information, future events, developments, changes in assumptions or otherwise. DATASOURCE: United Financial Corp. CONTACT: Kevin Clark, CEO, or Steve Feurt, EVP, both of United Financial Corp., +1-800-800-4310

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