SI Financial Group, Inc. Adopts Reorganization Plan

SI Financial Group, Inc. SIFI announced today that the Boards of Directors of the Company, SI Bancorp, MHC and the Bank have adopted a Plan of Conversion and Reorganization providing for the MHC’s conversion from mutual to stock form and the concurrent sale to the public of the MHC’s approximate 61.9% ownership interest in the Company in a transaction commonly referred to as a “second step” conversion. As a result of the second step conversion, the Bank will reorganize as a wholly-owned subsidiary of a new stock holding company organized under Maryland law, also named SI Financial Group, Inc., and the MHC and the Company will merge out of existence.