Savings Institute Bank & Trust Co. Announces Participation in CHFA Rehabilitation Loan Program.

WILLIMANTIC, Conn. -- In an effort to help its communities' home buyers purchase and rehabilitate and/or refinance and renovate their family homes, Savings Institute Bank & Trust Co. (SIBT) President and CEO, Rheo A. Brouillard has announced the Bank's participation in the Connecticut Housing Finance Authority's (CHFA) Rehabilitation Loan Program.

In making the announcement Brouillard said, "Older communities such as Windham, Norwich and New London, have large numbers of older properties that have fallen into disrepair. Often, those in most need of repair are those owned by non-occupants."

With this in mind, SIBT is pleased to partner with CHFA to encourage individuals to buy, rehabilitate if necessary, and live in those homes. "History has repeatedly shown that owner occupants tend to take better care of, and have more pride in their properties," Brouillard continued.

Enhancements to the Bank's typical conventional loans add features such as the opportunity to purchase an existing home and obtain funds to rehabilitate the property with just one mortgage! Owner occupants may also be eligible to obtain funds to refinance and rehabilitate their homes.

CHFA is a quasi-state agency that offers low interest rate mortgage loans to low and moderate income families. The current rate of interest is 4.75% (APR 4.85% - 5.25%). As with all CHFA mortgages, certain income and sales price limits apply.

"We are pleased that SIBT will be offering the Rehabilitation Loan Program. This is just another tool to help not only first-time homebuyers achieve the dream of homeownership, but also to help current homeowners who meet CHFA's eligibility requirements, improve the livability of their homes for years to come," said Timothy H. Coppage, CHFA's Vice President of Housing Development.

It is expected that this program will fit in well with the Bank's focus on community lending by adding one more option for those who meet the qualifications.

SI Financial Group, Inc. (Nasdaq:SIFI) is the parent company of Savings Institute Bank and Trust Company. Savings Institute Bank and Trust Company is headquartered, in Willimantic, Connecticut with fourteen other branches in eastern Connecticut. The Bank is a full service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses within its market area.