Profile: United Community Bancorp Inc (UCBA.O)
27 Oct 2016
United Community Bancorp, Inc., incorporated on July 17, 1981, is the holding company for United Community Bank (the Bank), which is a federally chartered savings bank. The Company operates in provision traditional banking services segment. The Bank offers various services in various categories, such as personal banking services, small business services and commercial services. The Bank's personal banking services include checking accounts options, including rewards checking, student checking and interest bearing checking; online services, including online banking, online billpay, mobile banking and e-mail alerts; debit and credit cards, and financial services, including investments, insurance and trust services. The Bank's small business services include free small business checking, business checking, merchant services, cash management and financial services, including retirement and insurance.
The Company offers a range of loan products, which include residential real estate loans, land loans, commercial business loans, agricultural loans and consumer loans. The Company's residential real estate loans include one- to four-family loans, multi-family loans, construction loans and nonresidential real estate loans. The Company's consumer loans include home equity loans, auto loans, share loans and other loans. The Company also originates loans secured by unimproved property, including lots for single-family homes and for mobile homes, raw land, commercial property and agricultural property. The Company also originates secured and unsecured commercial loans. As of June 30, 2015, the Company's total loans amounted to approximately $259.42 million.
The Company's investment portfolio includes its available-for-sale securities and held-to-maturity securities. As of June 30, 2015, the Company's available-for-sale securities included mortgage-backed securities, municipal bonds, the United States Government agency bonds, collateralized mortgage obligations and other equity securities. Its available-for-sale securities had a total fair value of approximately $170.01 million, as of June 30, 2015. The Company's held-to-maturity securities had a total fair value of approximately $40.05 million, as of June 30, 2015.
Sources of Funds
The Company offers a range of deposit products, which are its primary source of funds. As of June 30, 2015, the Company's deposits portfolio included savings accounts, negotiable order of withdrawal (NOW) accounts, money market accounts and certificates of deposit. The Company's deposits totaled approximately $432.54 million, as of June 30, 2015. The Company's other sources of funds include Federal Home Loan Bank (FHLB) advances.
The Bank's subsidiaries include United Community Bank Financial Services, Inc. and UCB Real Estate Management Holdings, LLC. UCB Real Estate Management Holdings, LLC is formed for holding real estate assets that are acquired by the Bank through, or in lieu of, foreclosure. As of June 30, 2015, the Bank's real estate assets held totaled approximately $286 million. UCB Real Estate Management Holdings, LLC is formed for collecting commissions on investments referred from Lincoln Financial Group.
The Company competes with Fifth Third Bancorp, PNC Bank and U.S. Bancorp.
United Community Bancorp Inc
92 Walnut St
LAWRENCEBURG IN 47025-1836