United Community Bank Completes Purchase Of Three Indiana Branches Of Integra Bank National Association
LAWRENCEBURG, Ind., June 4 /PRNewswire-FirstCall/ -- United Community Bancorp, Inc. (Nasdaq: UCBA) announced today that its subsidiary, United Community Bank, has completed the purchase of three branch offices and certain loans of Integra Bank National Association. The acquisition occurred following the close of business today, at which time the Integra Bank National Association branch offices located in the towns of Osgood, Milan and Versailles, Indiana became branch offices of United Community Bank. Following completion of the transaction, United Community has nine branches -- four in Lawrenceburg; one in Aurora; one in St. Leon; one in Osgood; one in Milan; and one in Versailles, and approximately $490 million in assets and $430 million in deposits. William F. Ritzmann, President and Chief Executive Officer of United Community Bancorp and United Community Bank, stated, "We are extremely pleased to be welcoming the customers and employees of Integra Bank's Ripley County branches into the United Community Bank family. United Community Bank's banking approach stays true to its community banking roots and we look forward to serving our new customers the same way we serve our current customers -- in a manner that seeks to exceed their expectations. This transaction is also expected to be immediately accretive to earnings per share following the transaction's initial expenses."
This news release may contain forward-looking statements, which can be identified by the use of words such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements and all other statements that are not historic facts are subject to risks and uncertainties, which could cause actual results to differ materially from those currently anticipated due to a number of factors. These factors include, but are not limited to, general economic conditions, changes in the interest rate environment, legislative or regulatory changes that may adversely affect our business, changes in accounting policies and practices, changes in competition and demand for financial services, adverse changes in the securities markets, changes in deposit flows, changes in the quality or composition of the Company's loan or investment portfolios, and the Company's ability to successfully integrate assets, liabilities, customers, systems, and personnel of the three branches of Integra Bank it is acquiring into its operations and the Company's ability recognize revenue synergies and cost savings within expected time frames. Additionally, other risks and uncertainties may be described in the Company's annual report on Form 10-K, or its quarterly reports on Form 10-Q, which are available through the SEC's website at www.sec.gov. Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements.
About United Community BancorpUnited Community Bancorp is the holding company of United Community Bank, headquartered in Lawrenceburg, Indiana. United Community Bank currently operates nine offices and 12 ATMs in Dearborn County and Ripley County, Indiana, and has total assets of approximately $450 million. For more information about United Community Bank, please visit us online at www.bankucb.com. SOURCE United Community Bancorp, Inc.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV