Redding Named Chief Executive Officer at UFS Bancorp

UFS Bancorp is parent company of UniBank, Sterling Associates, UniBank Fiscal Advisory Services and Dimen Financial Group, Inc.

At their monthly meeting held on June 28, 2005, the board of directors of UFS Bancorp (the company) announced the election of Kenneth J. Redding as chief executive officer of UFS Bancorp and its subsidiaries, effective July 1, 2005.

UFS Bancorp, with assets in excess of $620 million, is the parent company of UniBank, a full-service, mutual community savings bank with seven offices in the Blackstone Valley; UniBank Fiscal Advisory Services, Inc. (UFASI), a subsidiary that provides a full spectrum of debt management services to towns, school districts and other government units; Sterling Associates, a bank service company that originates marine and manufactured housing loans for client lenders; and the most recently acquired Dimen Marine Financial Inc., a California-based marine and recreational vehicle loan originator.

Mr. Redding was most recently the chairman of the board of UFS Bancorp, a position he had held since April 2001, and managing director of UFASI from its inception in 1999.  Mr. Redding’s affiliation with the company began in 1981 when he was elected to the Board of Corporators.  He was elected a trustee in 1984 and then to the company’s Executive Committee in 1987.  He held the position of vice chairman of the board from 2000 - 2001. 

A Certified Public Accountant, Mr. Redding is a 1970 graduate of Bentley College where he received a Bachelor of Science Degree in Accounting.  His experience includes employment with the international public accounting firm of Peat, Marwick, Mitchell & Co. where he was an audit supervisor, and he has been a partner of Redding & Redding CPA’s since 1979.  He is a member of the Massachusetts Society of CPA’s, the American Institute of Certified Public Accountants and the Government Finance Officers Association of the United States and Canada.

Mr. Redding has extensive ties to the Blackstone Valley community in many capacities.  He is a trustee of Milford Regional Healthcare System and chairman of its Audit Committee; Director and treasurer of Tri-River Family Health Center Development Corporation; a former director and treasurer of the Blackstone Valley Chamber of Commerce; a former member and chairman of the Uxbridge School Committee, and former Uxbridge Town Moderator.

A lifelong resident of the Blackstone Valley, Mr. Redding resides in Uxbridge, where he lives with his wife Louise.

UFS Bancorp, headquartered in the Blackstone Valley, is a mutual financial services holding company whose primary purpose is to support and enhance the success of its subsidiaries and the achievement of their strategic missions.