SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* MORTENSEN JEFFREY CHARLES (Last) (First) (Middle) P.O. BOX 10006 (Street) BOZEMAN MT 59719 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol UNITED FINANCIAL CORP \MN\ [ UBMT ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner Officer (give title below) X Other (specify below) VP/DIRECTOR OF SUBSIDIARY
	3. Date of Earliest Transaction (Month/Day/Year) 06/19/2006
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock, no par value per share	06/19/2006	06/22/2006	M		825	A	$8.5576	6,039.83(1)	D
Common stock, no par value per share	06/19/2006	06/22/2006	M		800	A	$11.3456	6,839.83(2)	D
Common stock, no par value per share								1,840	I	Held in an IRA by spouse.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Options	$8.5576	06/19/2006	06/22/2006	M			825	05/22/2002(3)	05/22/2011	common stock	825	(4)	0	D
Employee Stock Options	$11.3456	06/19/2006	06/22/2006	M			800	05/21/2003(5)	05/21/2012	common stock	1,599.375	(4)	799.375	D
Employee Stock Options	$13.9736							05/20/2004(6)	05/20/2013	common stock	703.75		703.75	D
Employee Stock Options	$19.888							05/25/2005(7)	05/25/2014	common stock	500		500	D
Employee Stock Options	$20.2							10/31/2006(8)	10/31/2015	common stock	1,250		1,250	D

Explanation of Responses:

1. Includes 1667 shares held jointly with spouse and 4372.83 shares held in a 401k account for the benefit of Mr. Mortensen. The difference in 401k holdings compared to previous filings are routine acquisitions due to a reinvestment of dividends in the Heritage Bank Safe Harbor 401K P/S Plan.

2. Includes 2467 shares held jointly with spouse and 4372.83 shares held in a 401k account for the benefit of Mr. Mortensen.

3. Grant date of 05/22/2001, exercisable as to 825 shares on each of 05/22/02, 05/22/03, 05/22/04, 05/22/05. This option was previously reported as 660 shares at an option price of $10.697 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.

4. Exercise of derivative securities.

5. Grant date of 05/21/2002, exercisable as to 799.21875 shares on each of 05/21/03, 05/21/04, 05/21/05, 05/21/06. This option was previously reported as 1,279 shares at an option price of $14.182 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.

6. Grant date of 05/20/2003, exercisable as to 234.375 shares on each of 05/20/04, 05/20/05, 05/20/06, 05/20/07. This option was previously reported as 563 shares at an option price of $17.467 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.

7. Grant date of 05/25/2004, exercisable as to 125 shares on each of 05/25/05, 05/25/06, 05/25/07, 05/25/08. This option was previously reported as 400 shares at an option price of $24.86 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.

8. Grant date of 10/31/2005, exercisable as to 312.50 shares on each of 10/31/06, 10/31/07, 10/31/08, 10/31/09. This option was previously reported as 1,000 shares at an option price of $25.25 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.

	Kurt R. Weise POA, On Behalf of Jeffrey C. Mortensen	06/22/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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