Uniti Financial Corp. Releases 3rd Quarter Results


BUENA PARK, Calif., Oct. 16, 2006 (PRIMEZONE) -- Uniti Financial Corporation (OTCBB:UIFC), parent company of Uniti Bank, announced its third quarter operating results. The company reported net income of $536,763 for the quarter or $0.116 per basic share, and net income of $1,558,974 or $0.336 per basic share for this year to date. The Company reported, as of September 30, 2006, total assets of $229,788,966, total equity of $25,826,826, total deposits of $181,419,598 and total loans of $176,832,423.

As compared to the prior quarter, total assets grew by approximately 1%, and total deposits declined by approximately 10%. The decline in deposits were due to the bank's efforts to eliminate high cost certificates of deposit, and replace them with nonvolatile longer term borrowings from the FHLB. The company's total equity increased by approximately $6.5 Million or 34% as compared to the previous quarter as a result of a $6 Million capital injection raised through a Private Placement completed by August 31.

About Uniti Financial Corporation (UIFC)

Headquartered in Buena Park, California, Uniti Financial Corporation is the parent company of Uniti Bank, and is the only independent bank holding company headquartered in Orange County. Uniti Financial Corporation has assets of $229 Million and operates one community bank with three banking offices located in Los Angeles and Orange Counties, in California. The company specializes in providing personalized community banking services to individuals, and small- to mid-sized businesses. Uniti Financial Corporation also offers the convenience of 24-hour access through ATM networks, telephone and online banking. Uniti Financial Corporation's common stock is listed on the NASDAQ Bulletin Board under the symbol UIFC. Additional information may be found at the Company's web site at www.unitibank.com.


            

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