United Community Bancorp Inc. announces agreement to acquire Midland Community Bank

CHATHAM, Ill. — United Community Bancorp, Inc. (UCB) recently announced it has entered into an agreement to acquire Kincaid-based Midland Community Bank, a full-service community bank established in 1968 with locations in the Christian County communities of Kincaid and Taylorville and with $66.9 million in assets as of March 31.

“Midland is an excellent and well-regarded community institution with a deep commitment to its customers that mirrors our own,” Robert Narmont, chairman and CEO of United Community Bancorp, said in a press release. “By joining forces, we are uniting two organizations that share a passion for local community banking while seamlessly expanding our market area into a neighboring county that perfectly aligns with our strategic growth mission and vision for our company.”

“Joining UCB is a meaningful step forward that enhances our ability to serve our customers and communities while preserving our community banking roots,” said Mary Coy, CEO of Midland Community Bank. “Our bank has always been a strong, trusted presence in Christian County, and we are proud to align with an organization that shares our values and dedication to local, personalized service. This opportunity allows us to expand our reach while staying true to the philosophy that has defined us for more than 57 years.”

The acquisition, subject to regulatory and Midland shareholder approvals, is expected to close later this year. Once complete, United Community Bancorp will remain the largest community bank group in West Central Illinois with $4 billion in consolidated assets. Its bank network will have 47 retail banking locations serving 37 communities in Illinois, Missouri and Florida.

Midland Community Bank will join UCB’s family of award-winning community banks that include United Community Bank (Chatham), Brown County State Bank (Mount Sterling), Marine Bank & Trust (Carthage), Mercantile Bank (Quincy), Farmers State Bank of Camp Point (Camp Point) and United Commonwealth Bank (Naples, Fla.).

“Midland Community Bank is a respected community banking institution with an outstanding reputation for customer service,” said Allen Schmale, president and CEO of United Community Bank. “We are excited to welcome their team and their customers into our family of banks and look forward to working together to continue to deliver the best-in-class community banking services our UCB Banks are dedicated to providing our customers and communities.”

United Community Bank, headquartered in Chatham, is an employee-owned regional bank holding company with roots dating back to 1907, when Farmer’s State Bank was established in Greenfield.

To learn more, visit ucbbanks.com.