SEC FORM 5

SEC Form 5

FORM 5

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

ANNUAL 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).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

FEURT STEVE L

(Last)

(First)

(Middle)

120 1ST AVE N

(Street)

GREAT FALLS

59401

(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
X	Officer (give title below)	Other (specify below)
	CHIEF CREDIT OFFICER,SENIOR VP

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2004

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 at end of Issuer's Fiscal Year (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)	3. Transaction Code (Instr. 8)	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	08/04/2004		G	125	D	$0	43,987.27	D
Common stock, no par value per share	09/20/2004		G	50	D	$0	43,937.27⁽¹⁾	D

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)	4. Transaction Code (Instr. 8)	(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)
Employee Stock Options	$9.015						05/23/2001⁽²⁾	05/23/2010	common stock	1,475		1,475	D
Employee Stock Options	$10.697						05/22/2002⁽³⁾	05/22/2011	common stock	6,600		6,600	D
Employee Stock Options	$14.182						05/21/2003⁽⁴⁾	05/21/2012	common stock	9,900		9,900	D
Employee Stock Options	$17.467						05/20/2004⁽⁵⁾	05/20/2013	common stock	750		750	D
Employee Stock Options	$24.86						05/25/2005⁽⁶⁾	05/25/2014	common stock	400		400	D

Explanation of Responses:

1. Includes 26,392 shares held directly, 9,465 shares held in an IRA for the benefit of Mr. Feurt, and 8,080.27 shares held in a 401k account for the benefit of Mr. Feurt. The shares held in Mr. Feurt's 401k account reflect routine acquisitions due to reinvestments of dividends in the Heritage Bank Safe Harbor P/S plan as of 12/31/04.

2. Grant date of 05/23/2000, exercisable as to 1443.75 shares on each of 05/23/01, 05/23/02, 05/23/03, 05/23/04.

3. Grant date of 05/22/2001, exercisable as to 1650 shares on each of 05/22/02, 05/22/03, 05/22/04, 05/22/05.

4. Grant date of 05/21/2002, exercisable as to 2475 shares on each of 05/21/03, 05/21/04, 05/21/05, 05/21/06.

5. 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.

6. 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 Steve L Feurt	02/11/2005
	** 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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