LAWRENCEBURG, Ind.,
Dec. 28, 2012 /PRNewswire/
-- United Community Bancorp (Nasdaq: "UCBA") (the "Company")
announced today that United Community Bancorp, the proposed
successor holding company to the Company in connection with the
Company's pending conversion from mutual holding company to stock
holding company form ("new United Community"), has competed its
resolicitation of initial subscribers in the subscription and
community offerings required as a result of the previously
announced increase in the maximum purchase limitations in the
offering. Following the resolicitation, new United Community
had orders for approximately 2.6 million shares. In order to
complete the offering, new United Community Bancorp must sell a
minimum of 2,966,787 shares.
The Board of Directors has determined to extend the community
offering and solicit additional purchasers in order to
complete the offering. The community offering may be
terminated at any time in the Company's sole discretion and the
Company currently anticipates that the offering will be completed
today. The Company retains the right to accept or reject, in
whole or in part, in its sole discretion, orders received in the
community offering.
The closing of the conversion and offering remains subject to
the satisfaction of customary closing conditions. The
offering is expected to close at no higher than the midpoint of the
offering range.
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.
This press release contains certain forward-looking statements
about the conversion and offering. Forward-looking statements
include statements regarding anticipated future events and can be
identified by the fact that they do not relate strictly to
historical or current facts. They often include words such as
"believe," "expect," "anticipate," "estimate," and "intend" or
future or conditional verbs such as "will," "would," "should,"
"could," or "may." Forward-looking statements, by their
nature, are subject to risks and uncertainties. Certain
factors that could cause actual results to differ materially from
expected results include delays in consummation of the conversion
and offering, increased competitive pressures, changes in the
interest rate environment, general economic conditions or
conditions within the securities markets, and legislative and
regulatory changes that could adversely affect the business in
which the Company and United Community Bank are engaged.
Investors are able to obtain all documents filed with the SEC by
new United Community Bancorp free of charge at the SEC's website,
www.sec.gov. In addition, documents filed with the SEC by new
United Community Bancorp are available free of charge from the
Company's Corporate Secretary at 92 Walnut Street, Lawrenceburg, Indiana 47025, telephone (812)
537-4822.
A registration statement relating to these securities has been
filed with the United States Securities and Exchange Commission.
This press release is neither an offer to sell nor a solicitation
of an offer to buy common stock. The offer will be made only by
means of the written prospectus forming part of the registration
statement.
The shares of common stock of new 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