United Community Bancorp Announces Closing of Stock Offering and
Completion of Conversion Transaction
LAWRENCEBURG, Ind.,
Jan. 9, 2013 /PRNewswire/
-- United Community Bancorp (Nasdaq: "UCBA") (the "Company"),
the holding company for United Community Bank, announced today that
it has completed the "second step" conversion of United Community
MHC (the "MHC") and the Company's related stock offering, effective
as of the close of business today. As a result of the closing
of the conversion and offering, the Company, an Indiana-chartered corporation, is now the
holding company for United Community Bank (the "Bank") and both the
MHC and the Bank's former mid-tier holding company, also known as
"United Community Bancorp," have ceased to exist. The results
of the stock offering were previously reported in the Company's
press release dated January 8,
2013.
President and Chief Executive Officer William F. Ritzmann said, "We appreciate the
confidence that our existing and new shareholders have shown in
us. We are committed to operating a strong community bank,
meeting and exceeding our customers' needs and expectations,
supporting the communities we serve, and maintaining our focus on
building shareholder value."
Beginning on January 10, 2013, the
shares of Company common stock will trade on the Nasdaq Global
Market under the trading symbol UCBA.
Sandler O'Neill & Partners, L.P. acted as marketing agent
for United Community Bancorp in connection with the offering.
Kilpatrick Townsend & Stockton
LLP acted as legal counsel to United Community Bancorp in
connection with the offering.
United Community Bancorp is the holding company of United
Community Bank, headquartered in Lawrenceburg, Indiana. United Community
Bank currently operates eight offices in Dearborn County and Ripley County, Indiana.
The shares of common stock of United Community Bancorp are not
savings accounts or savings deposits, may lose value and are not
insured by the Federal Deposit Insurance Corporation or any other
government agency.
SOURCE United Community Bancorp