SEC FORM 4

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

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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^*

HENTGES JEROME H

(Last)

(First)

(Middle)

9170 NEILL LAKE ROAD

(Street)

EDEN PRAIRIE

55347

(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)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/23/2005

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, no par value per share	05/23/2005		M		207	A	$10.697	2,249	D
Common Stock, no par value per share	05/23/2005		M		206	A	$14.182	2,455	D
Common Stock, no par value per share	05/23/2005		M		188	A	$17.467	2,643	D
Common Stock, no par value per share								2,145	I	Held in an IRA for 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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Director Stock Options	$10.697	05/23/2005		M			207	05/22/2002⁽¹⁾	05/22/2011	Common Stock	207	⁽²⁾	0	D
Director Stock Options	$14.182	05/23/2005		M			206	05/21/2003⁽³⁾	05/20/2012	Common Stock	413	⁽²⁾	207	D
Director Stock Options	$17.467	05/23/2005		M			188	05/20/2004⁽⁴⁾	05/20/2013	Common Stock	563	⁽²⁾	375	D
Director Stock Options	$24.86							05/25/2005⁽⁵⁾	05/25/2014	Common Stock	400		400	D

Explanation of Responses:

1. Grant date of 05/22/2001, exercisable as to 206.25 shares on each of 05/22/02, 05/22/03, 05/22/04, 05/22/05.

2. Exercise of derivative securities.

3. Grant date of 05/21/2002, exercisable as to 206.25 shares on each of 05/21/03, 05/21/04, 05/21/05, 05/21/06.

4. Grant date of 05/20/2003, exercisable as to 187.50 shares on each of 05/20/04, 05/20/05, 05/20/06, 05/20/07.

5. Grant date of 05/25/2004, exercisable as to 100 shares on each of 05/25/05, 05/25/06, 05/25/07, 05/25/08.

	Kurt R. Weise POA, On Behalf of Jerome H. Hentges	05/24/2005
	** 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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