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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

_X_ QUARTERLY REPORT PERSUANT TO SECTION 13 OR 15(d) OF
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2004

OR

___ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________.

Commission file number: 0-28080

UNITED FINANCIAL CORP.
(Exact Name of Registrant as Specified in its Charter)

P.O. Box 2779, 120 First Avenue North, Great Falls, Montana 59403
(Address of Principal Executive Offices) (Zip Code)

(406) 727-6106
(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [X]          No [   ]

Indicate by check mark whether the Registrant is an accelerated filer
(as defined by Rule 12b-2 of the Securities Exchange Act of 1934).

Yes [   ]          No [X]

Indicate the number of shares outstanding of each of the issuer's
classes of Common Stock, as of the latest practicable date:

Common Stock, no par value; 2,436,475 shares outstanding as of November 8, 2004

UNITED FINANCIAL CORP.
TABLE OF CONTENTS

Page i

PART I – FINANCIAL INFORMATION

ITEM 1   FINANCIAL STATEMENTS.

UNITED FINANCIAL CORP.
CONSOLIDATED CONDENSED STATEMENTS OF FINANCIAL CONDITION
(In thousands, except per share data)
(Unaudited)

See Notes to Consolidated Condensed Financial Statements

Page 1

UNITED FINANCIAL CORP.
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(In thousands, except per share data)
(Unaudited)

See Notes to Consolidated Condensed Financial Statements

Page 2

UNITED FINANCIAL CORP.
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

See Notes to Consolidated Condensed Financial Statements

Page 3

UNITED FINANCIAL CORP.
NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
(Unaudited)

        United Financial Corp. (“United”) is a bank holding company headquartered in Great Falls, Montana. United was organized as a Minnesota corporation in 1996. United’s banking business in Montana is conducted through its wholly owned subsidiary, Heritage Bank, a Montana corporation established in 1923, with operations in 15 locations in 13 Montana communities.

        Heritage Bank is a state-chartered commercial bank with locations in Billings, Bozeman, Chester, Fort Benton, Geraldine, Glendive, Great Falls (three locations), Hamilton, Havre, Kalispell, Missoula, Libby and Shelby, Montana. Heritage Bank is engaged in the community banking business of attracting deposits from the general public through its branches and using those deposits, together with other available funds, to originate commercial (including lease financing), commercial real estate, residential, agricultural and consumer loans primarily in its market areas in Montana. Heritage Bank’s banking business is concentrated in the Great Falls area through its two full service branches and one separate drive up location. Based on total assets, 58% of United’s assets are located at Heritage Bank’s Great Falls locations. Heritage Bank also invests in mortgage-backed securities, U.S. Treasury obligations, other U.S. Government agency obligations and other interest-earning assets.

        Heritage Bank’s financial condition and results of operations, and therefore the financial condition and results of operations of United, are dependent primarily on net interest income and fee income. Heritage Bank’s financial condition and results of operations are also significantly influenced by local and national economic conditions, changes in market interest rates, governmental policies, tax laws and the actions of various regulatory agencies.

        Heritage Bank also holds a 14% ownership interest in Bankers’ Resource Center, a computer data center, located in Helena, Montana.

        In December 2003, Heritage Bank incorporated a new wholly-owned subsidiary, Heritage Northwest, Inc., a mortgage banking company in Bellingham, Washingon, which began operations in the spring of 2004.

        United makes available all periodic and current reports, free of charge, on its website as soon as reasonably practicable after such material is electronically filed with or furnished to the Securities and Exchange Commission (“SEC”). United’s website address is www.ufcmontana.com.

        United’s principal offices are located at 120 First Avenue North, Great Falls, Montana 59401, and its telephone number is (406) 727-6106.

        United’s consolidated financial statements, included herein, have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying unaudited consolidated condensed financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the consolidated financial condition, results of operations, and cash flows for the periods disclosed. Operating results for the three and nine months ended September 30, 2004 are not necessarily indicative of the results anticipated for the year ending December 31, 2004. For additional information, refer to the consolidated audited financial statements and footnotes thereto included in United’s Annual Report to Shareholders and Annual Report on Form 10-K for the year ended December 31, 2003.

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        United’s only significant element of comprehensive income is unrealized gains and losses on securities available-for-sale.

(In thousands)
(Unaudited)

Page 5

        For purposes of the consolidated condensed statements of cash flows, United considers all cash, daily interest and non-interest bearing demand deposits with banks with original maturities of three months or less to be cash equivalents.

        Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated by dividing net income by the weighted average number of common shares used to compute basic EPS plus the incremental amount of potential common stock determined by the treasury stock method. Potential common stock includes the incremental shares under stock option plans.

        The following table sets forth the computation of basic and diluted earnings per share.

        Central Financial Services, Inc. (“CFS”) provides various management services to United, including certain accounting and tax services, investment consulting, personnel consulting, asset-liability management and regulatory consulting. CFS is owned by United’s former Chairman of the Board of Directors and its current largest shareholder and has been providing similar services to various banks and financial services organizations since December of 1988. CFS fees billed to United were approximately $ .1 million and $ .3 million for each of the three and nine month periods ended September 30, 2004 and 2003, respectively. The fees are billed by CFS on an hourly basis for work performed by United’s current Chairman and CEO, its former Chairman, and four other employees. Neither the former Chairman nor the current Chairman and CEO of United receive direct compensation from United for these services. Each is compensated for services as a director through director’s fees of $350 per month, and for services as an officer of United through CFS. Through CFS, the former Chairman and current Chairman and CEO earn annual salaries of $100,000 and $145,000, respectively. United’s portion of those salaries was approximately 54%, based upon CFS billings during those periods.

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        Heritage Bank holds a 14% ownership interest in Banker’s Resource Center (“BRC”), which provides data processing services for Heritage Bank. The charges for BRC’s services were $ .2 million and $ .5 million for each of the three and nine months ended September 30, 2004 and 2003, respectively.

        On October 26, 2004, the Board of Directors of United declared a quarterly cash dividend of $.27 per share, payable December 1, 2004, to shareholders of record on November 17, 2004.

        United has a stock-based employee compensation plan, which is a stock option plan described more fully in footnotes included in United’s Annual Report to Shareholders and its Annual Report on Form 10-K for the year ended December 31, 2003. United accounts for the plan under the recognition and measurement principles of APB Opinion No. 25, “Accounting for Stock Issued to Employees, and related Interpretations.” No stock-based employee compensation cost is reflected in net income, as all options granted under the plan have an exercise price at or above to the market value of the underlying common stock on the date of grant.

        The following table illustrates the effect on net income and earnings per share if United had applied the fair value recognition provisions of FASB Statement No. 123, “Accounting for Stock-Based Compensation”, to stock-based employee compensation.

        United has identified its most critical accounting policy to be that related to the allowance for loan losses. United’s allowance for loan losses methodology incorporates a variety of risk considerations in establishing an allowance for loan losses that management believes is appropriate. Risk factors include historical loss experience, delinquency and charge-off trends, collateral values, an analysis of the current loan portfolio, and the level of non-performing and impaired loans. An internal loan risk grading system is also used to evaluate potential losses of individual loans. Changes in any of the above factors could have a significant effect on the calculation of the allowance for loan losses in any given period. Therefore, a full analysis is performed by management on a quarterly basis to ensure that changes in estimated loan loss levels are adjusted on a timely basis.

        Another critical accounting policy of United is that related to the carrying value of goodwill in accordance with Statement of Financial Accounting Standards No. 142, “Goodwill and Other Intangible Assets” (SFAS No. 142). United adopted a market valuation approach in assessing goodwill impairment and will measure the carrying value similarly at least annually under the new accounting rules. Ongoing impairment analysis of the fair value of the remaining goodwill will involve a substantial amount of judgment. At September 30, 2004 and December 31, 2003, United had $1.4 million of recorded goodwill.

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        SFAS No. 123, “Accounting for Stock-Based Compensation,” requires disclosure about stock-based compensation arrangements regardless of the method used to account for them. As permitted by SFAS No. 123, United has decided to apply the accounting provisions of Accounting Principles Board (APB) Opinion No. 25, and therefore discloses the difference between compensation cost included in net income and the related cost measured by the fair value-based method defined by SFAS No. 123, including tax effects, that would have been recognized in the statement of operations if the fair value method had been used. Under APB Opinion No. 25, no compensation cost has been recognized for United’s stock option plan. Had compensation cost for this plan been determined consistent with SFAS No. 123 and recognized over the vesting period, United’s net income and earnings per share would have been reduced to the pro forma amounts as presented in Note 8 above.

        United previously issued $3.0 million of trust preferred securities. Pursuant to FASB Interpretation No. 46R (“FIN 46R”), “Consolidation of Variable Interest Entities,” issued in December 2003, United deconsolidated its trust preferred entities during the first quarter of 2004 and restated the December 31, 2003 balance sheet. As a result, the 2004 and 2003 balance sheets include $3.1 million of subordinated debt, which was previously included on United’s balance sheet as $3.0 million in trust preferred securities, after a consolidation elimination of $.1 million. The overall effect on United’s financial position and operating results of the deconsolidation was not material.

        Real estate and other personal property owned at September 30, 2004 and December 31, 2003 included a net carrying value of approximately $.5 million for a duplicate facility. Through September 30, 2004, this facility had been under an operating lease for a monthly rental of approximately $9,000. Monthly expenses for depreciation and utilities averaged approximately $3,800. In October 2004, this duplicate facility was sold for approximately $.5 million.

ITEM 2   MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
     AND RESULTS OF OPERATIONS.

        This Quarterly Report on Form 10-Q and documents incorporated by reference into this Quarterly Report contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements, which are subject to change. Forward looking statements can often be identified by words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “could” “potential,” “continue,” “ongoing,” similar expressions, and variations or negatives of these words. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated, including the following factors, in addition to those contained in United’s reports on file with the SEC: (i) general economic or industry conditions could be less favorable than expected, resulting in a deterioration in credit quality, a change in the allowance for loan losses, or a reduced demand for United’s products and services; (ii) changes in the domestic interest rate environment, and management’s ability to respond to those changes, could reduce net interest income and could increase loan losses; (iii) changes in the extensive laws, regulations and policies governing financial services companies could alter United’s business environment or affect operations; (iv) the potential need to adapt to industry changes in information technology systems, on which United is highly dependent, could present operational issues or require significant capital spending; (v) competitive pressures could intensify and affect United’s profitability, including as a result of continued industry consolidation, the increased availability of financial services from non-banks, technological developments, or bank regulatory reform; (vi) the impact of weather conditions in the geographic markets and business areas in which United conducts it business; and (vii) capital investments in United’s businesses may not produce expected growth in earnings anticipated at the time of the expenditure. Forward-looking statements speak only as of the date they are made, and United undertakes no obligation to update them in light of new information or future events.

Page 8

        The following are considered by executive level management of United to be key performance indicators.

Page 9

        Total assets increased $36.8 million to $341.6 million at September 30, 2004 from $304.8 million at December 31, 2003. The increase in assets was primarily the result of a net increase in loans receivable and loans held for sale of approximately $35.7 million. Other net increases totaling $1.1 million are detailed in the table above.

        One of the goals of United’s management in 2004 is to build its loan portfolio at Heritage Bank. With only five classified loans at Heritage Bank at September 30, 2004, asset quality is exceptional. Overall loan demand has been steady in 2004, especially for commercial real estate and non-real estate loans. Although the volume of residential mortgage loan refinancing has slowed in 2004 as compared to 2003, activity in the residential mortgage purchase origination market has increased at Heritage Bank during the nine months ended September of 2004, bringing loans held for sale to $4.6 million or an increase of $ .7 million over December 31, 2003 levels. Heritage Bank completed the construction of its new Billings, Montana branch bank building in 2004, adding approximately $.6 million to its net premises and equipment balances. United increased deposits $21.7 million and Federal Home Bank advances $11.1 million in 2004 over December 31, 2003 which have funded the loan growth mentioned above.

        Securities available-for-sale – Securities available-for-sale decreased $7.8 million to $35.5 million at September 30, 2004 from $43.3 million at December 31, 2003. The decrease was the result of $9.0 million of purchases, offset by $16.6 million of maturities and calls, sales and principal repayments. The remaining decrease of $ .2 million was the result of an decrease in the unrealized gain on securities available-for-sale of $ .3 million, net premium amortization of $ .1 million and realized gains on sales of $ .2 million.

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        A comparison of the amortized cost and estimated fair value of the consolidated available-for-sale investment portfolio at the dates indicated is as follows:

        Loans Receivable and Loans Held for Sale – Net loans receivable increased $34.9 million to $262.1 million at September 30, 2004 from $227.2 million at December 31, 2003. The increase in loans during the first nine months of 2004 was primarily in the real estate loan category. First mortgage loans and contracts secured by real estate increased $17.6 million. Commercial real estate loans increased $5.0 million and all other loans increased $12.3 million.

        Approximately 50% of the increase in net loans receivable was generated in Heritage Bank’s Billings, Bozeman and Kalispell branches. Billings is a new market for Heritage Bank in 2004 with Bozeman and Kalispell continuing to be robust markets. Another approximately 16% of the increase came from Heritage Bank’s Great Falls main branch, which was successful on several larger credits for new customers, and on loans for existing customers who have expanded their operations. Construction loans in the Great Falls branch have also increased as a function of low interest rates and a stable economy. The remaining increase of approximately 34% was spread proportionately between the remaining branches of Heritage Bank.

        Heritage Bank also purchases and participates in commercial and lease financing loans. Heritage Bank had $25.8 million and $32.8 million of participation and purchased loans as of September 30, 2004 and December 31, 2003, respectively.

        During the nine months ended September 30, 2004, loans held for sale increased $ .7 million to $4.6 million at September 30, 2004, as loan originations slightly outpaced secondary market sales. Approximately $106.8 million of residential real estate loans were originated for sale and $106.1 million of residential real estate loans were sold to the secondary market during the nine month period ending September 30, 2004.

        Allowance for Loan Losses — The loan loss reserve was $3.7 million at September 30, 2004 and December 31, 2003. The loan loss reserve at September 30, 2004 is an amount which management believes is adequate given the relatively low level of non-performing loans and management’s assessment of loan risk. The allowance for loan losses to total loans at September 30, 2004 was 1.40%.

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        Loans receivable, net of unamortized net deferred loan fees, at the dates indicated are summarized as follows:

        A summary of activity in the allowance for loan losses for the dates indicated are as follows:

        Non-Performing Assets – When a borrower fails to make a scheduled payment on a loan and does not cure the delinquency within 15 days, United’s policy is to contact the borrower between the 15th and 30th day of delinquency to establish a repayment schedule. If a loan is not current, or a realistic repayment schedule is not being followed by the 90th day of delinquency, United will generally proceed with legal action to foreclose the property after the loan has been contractually delinquent for 90 days. Loans contractually past due for 90 days are classified as non-performing. However, not all loans past due for 90 days automatically result in the non-accrual of interest income. If a 90 day past due loan has adequate collateral, or is FHA insured or VA guaranteed, leading to the conclusion that no loss of principal and interest would likely be realized, then interest income will continue to be accrued.

        Heritage Bank follows regulatory guidelines with respect to placing loans on non-accrual status. When a loan is placed on non-accrual status, all previously accrued and uncollected interest is reversed. At September 30, 2004, Heritage Bank had non-accrual loans totaling $ .3 million and loans totaling $ .2 million past due for 90 days and still accruing interest. At December 31, 2003 by comparison, Heritage Bank’s non-accrual loans totaled $.5 million and loans past due for 90 days and still accruing totaled $.3 million.

        Heritage Bank is required to review, classify and report to the Board of Directors their assets on a regular basis and classify them as “substandard” (the distinct possibility that some loss will be sustained), “doubtful” (high likelihood of loss), or “loss” (uncollectible). Adequate valuation allowances are required to be established for assets classified as substandard or doubtful in accordance with generally accepted accounting principles. If an asset is classified as a loss, the institution must either establish a specific valuation allowance equal to the amount classified as loss or charge off such amount. At September 30, 2004 and December 31, 2003, Heritage Bank had no assets classified as losses. At both September 30, 2004 and December 31, 2003, Heritage Bank had no assets classified as doubtful. At September 30, 2004 and December 31, 2003, Heritage Bank had $ .4 and $ .6 million of reported substandard assets, respectively. As a percent of total Heritage Bank assets, substandard assets were approximately .11% and .19% at September 30, 2004 and December 31, 2003, respectively. At September 30, 2004

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and December 31, 2003, impaired loans were $ .4 and $ .6 million, respectively. Impaired loans included those loans classified as either substandard or doubtful.

        Deposits – Deposits increased $21.7 million to $249.2 million at September 30, 2004 from $227.5 million at December 31, 2003. This increase primarily resulted from a combination of competitive rates on all deposit offerings, and Heritage Bank’s commitment to community banking, both of which continue to attract depositors. Deposits have increased $7.2 million at Heritage Bank’s new Billings branch, which opened during the first quarter of 2004. Also at September 30, 2004, Heritage Bank held $5.0 million in brokered deposits. Heritage Bank held no brokered deposits at December 31, 2003.

        Borrowed Funds — FHLB advances increased $11.1 million from $ 31.0 million at December 31, 2003 to $42.1 million at September 30, 2004. The increase of $11.1 million was a net result of $57.7 million in advances and $46.6 million in repayments. Securities sold under agreements to repurchase increased $5.8 million to $13.7 million at September 30, 2004 from $7.9 million at December 31, 2003.

        Stockholders’ Equity – Stockholders’ equity totaled $30.4 and $32.4 million at September 30, 2004 and December 31, 2003, respectively. Stockholder’s equity activity included $2.9 million of net income for the nine months ended September 30, 2004 less cash dividends declared of $4.4 million, and a $ .6 million decrease due to purchases of corporate stock. A special one-time dividend of $1.00 per share payable June 1, 2004 was declared as a result of the increased earnings in 2003 and the current overall financial condition of the company. In addition $ .2 million in stock was issued under employee stock option plans. Finally, the equity adjustment for the change in market values of securities available-for-sale decreased $ .1 million.

        Net Income from Continuing Operations– United had net income from continuing operations of $1.0 million, or basic and diluted earnings per share of $ .42 and .40, respectively, for the three months ended September 30, 2004. For the three months ending September 30, 2003, United had income from continuing operations of $1.0 million, or basic and diluted

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earnings per share of $ .41 and .40, respectively. The decrease in net income in 2004 over 2003 was principally due to the $ .7 million of income from discontinued operations in 2003, or basic and diluted earnings per share of $ .30 and .29, respectively.

        Net Interest Income – Like most financial institutions, the most significant component of United’s earnings is net interest income, which is the difference between the interest earned on interest-earning assets (loans, investment securities, mortgage-backed securities and other interest-earning assets), and the interest paid on deposits and borrowings. This amount, when divided by average interest-earning assets, is referred to as the net interest margin, expressed as a percentage. Net interest income and net interest margins are affected by changes in interest rates, the volume and the mix of interest-earning assets and interest-bearing liabilities, and the level of non-performing assets. The difference between the yield on interest-earning assets and the cost of interest-bearing liabilities expressed as a percentage is referred to as the net interest-rate spread. Net interest income increased $ .4 million from $3.0 million for the three months ended September 30, 2003 to $3.4 million for the three months ended September 30, 2004. Net interest margin increased .37% from 3.98% for the three month period ended September 30, 2003 to 4.35% for the three month period ended September 30, 2004. Net interest spread increased .46% from 3.85% for the three month period ended September 30, 2003 to 4.31% for the three month period ended September 30, 2004. Increased volume of interest-earning assets, specifically loans, and decreased weighted average interest rates paid on customer deposits resulted in an increase in both net interest margin and net interest spread. Average loans as a percentage of average earning assets were 84.9% and 78.9% for the quarters ended September 30, 2004 and 2003, respectively.

        Interest Income – Interest income increased $ .3 million from $4.4 million for the three month period ended September 30, 2003 to $4.7 for the three month period ended September 30, 2004. For the three month period ended September 30, 2004, compared to the three month period ended September 30, 2003, interest on loans receivable increased $ .3 million, and interest on mortgage-backed securities, investments and interest on other interest-earning assets remained at $.4 million.

        Interest Expense – Interest expense decreased $ .1 million from $1.4 million for the three month period ended September 30, 2003 to $1.3 million for the three month period ended September 30, 2004. Although the average balance of deposits increased $6.0 million for the third quarter ended 2004 compared to the same quarter in 2003, lower interest rates during the third quarter of 2004 allowed for a decrease in interest expense on deposits of $.2 million during the third quarter of 2004 compared to the same quarter in 2003.

        For the three month period ended September 30, 2004, compared to the three month period ended September 30, 2003, interest on other borrowings increased $ .1 million. The average balance of other borrowings increased $20.0 million for the quarter ended September 30, 2004 as compared to 2003. The combination of the increase in borrowings and lower interest rates on borrowed funds in 2004 resulted in a $ .1 million increase in interest expense on other borrowings in the third quarter of 2004 compared to the same period in 2003.

        Provision for Loan Losses – United made no loan loss provision in the third quarter ended September 30, 2004. Asset quality at Heritage Bank has remained strong. Heritage Bank’s past due and non-accrual loans totaled .28% and .46% of total loans at September 30, 2004 and 2003, respectively.

        The provision for loan losses is determined by management as the amount to be added to the allowance for loan losses after net charge-offs have been deducted to bring the allowance to a level which is considered adequate to absorb losses inherent in the loan portfolio in accordance with GAAP. Future additions to United’s allowance for loan losses and any change in the related ratio of the allowance for loan losses to non-performing assets are dependent upon the performance and composition of United’s loan portfolio, the economy, inflation, changes in real estate values and interest rates and the view of the regulatory authorities toward adequate reserve levels.

        Non-interest Income – In addition to net interest income, United generates significant non-interest income from a range of retail banking services, including mortgage banking activities and service charges for deposit services. Non-interest income decreased $ .6 million from $1.8 million for the three month period ended September 30, 2003 to $1.2 million for the three month period ended September 30, 2004, due to a decrease in gain on sale of loans, which is discussed further below.

        United’s loan demand continued to be strong in the residential mortgage market, and particularly the purchase origination market, during the three month period ended September 30, 2004, as interest rates continued to be at levels which were attractive to customers in the residential mortgage market. As explained above, interest income and interest margins improved in the third quarter of 2004 as compared to 2003. Based on the number of loans originated for the three and nine months ended September 30, 2004 and 2003, purchase originations were down only 13.0% and 12.7%, respectively, in 2004 over 2003. United has seen a significant decline, however, in its residential mortgage refinancing market. Again based on

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number of loans originated for the three and nine months ended September 30, 2004 and 2003, refinances were down 81.0% and 74.1%, respectively, in 2004 compared to 2003. Gain on sale of loans decreased $ .6 million for the three month period ending September 30, 2004 to $ .7 million from $1.3 million for the same period in 2003. This decrease is a direct result of the decline in the home mortgage refinancing market mentioned above. The following table illustrates the comparison of number of loans originated for the three and nine month periods ended September 30, 2004 and 2003.