The Company anticipates that its stockholders' equity to total assets ratio will be approximately 11.00% at March 31, 2011 as compared to 11.25% at December 31, 2010. The Bank expects to remain "well capitalized" at March 31, 2011 under all applicable regulatory capital measures.
"The Bank has endured a difficult quarter due to the restructuring of several loans, but we believe that our troubled debt restructuring approach to those loans will result in the best economic outcome for the Company and its shareholders," said William F. Ritzmann, President and Chief Executive Officer.
The Company anticipates releasing third fiscal quarter results during the week of April 25, 2011.
United Community Bancorp is the holding company of United Community Bank, headquartered in Lawrenceburg, Indiana. The Bank currently operates nine offices in Dearborn and Ripley Counties, Indiana.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 need for further loan restructurings and charge-offs. 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. SOURCE United Community Bancorp