United Community Financial Corp. Announces Successful Sale Of Four Branches Of The Home Savings And Loan Company To Croghan Colonial Bank

United Community Financial Corp. (NASDAQ: UCFC), holding company of The Home Savings and Loan Company, announced today that the sale of Home Savings’ four western-most branches to Croghan Colonial Bank (“Croghan”), a subsidiary of Croghan Bancshares, Inc. (NASDAQ: CHBH), was officially completed on Friday, December 16, 2011.

Croghan, headquartered in Fremont, Ohio, acquired the Home Savings branches located in Fremont, Clyde, Tiffin (Westgate) and downtown Tiffin, Ohio. In the transaction, Croghan assumed all of the deposit liabilities and the related fixed assets of the branches. Croghan paid a premium of 4.0% (or approximately $4.5 million) on the deposits at the branches. In addition, Croghan acquired performing consumer and residential loans associated with the branches. There were approximately $111.4 million in deposits and $20.9 million in performing consumer and residential loans at the branches. Croghan anticipates retaining the Home Savings employees at the branches.

As a wholly-owned subsidiary of United Community Financial Corp., Home Savings operates 34 full-service banking offices and eight loan production offices located throughout Ohio and western Pennsylvania. Additional information on UCFC and Home Savings may be found at www.ucfconline.com .

Copyright Business Wire 2010

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX