Profile: United Community Bancorp Inc (UCBA.O)
17 Jan 2017
United Community Bancorp, Inc., incorporated on July 17, 1981, is a savings and loan holding company. The Company is the holding company for United Community Bank (the Bank). The Bank offers a menu of banking services and products to consumers and businesses in its market areas. The Bank offers personal banking services and business banking services. Its personal banking services include loan center, mortgage center, checking, overdraft protection, e-banking and mobile banking. Its business banking services include agriculture lending, business loans, business deposits and cash management.
The Bank's primary lending activity is the origination of one- to four-family mortgage loans secured by homes in its local market area of Dearborn, Ripley, Franklin, Ohio and Switzerland Counties, Indiana. The Bank offers various loans, which include one- to four-family residential real estate loans, multi-family real estate loans, nonresidential real estate and land loans, construction loans, commercial loans, consumer loans and agricultural loans. The Bank offers mortgage loans to enable borrowers to purchase or refinance existing homes, which serve as the primary residence of the owner. It offers fixed-rate and adjustable-rate loans with terms over 30 years. It offers adjustable-rate mortgage loans secured by multi-family real estate. Its multi-family real estate loans are secured by apartment buildings within and outside its primary market area. The Bank offers adjustable-rate mortgage loans secured by owner-occupied and non-owner occupied nonresidential real estate. Its nonresidential real estate loans are secured by commercial buildings. It 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 Bank originates adjustable-rate loans to individuals and builders to finance the construction of residential dwellings. The Bank also makes construction loans for commercial development projects, including apartment buildings and nonresidential properties (owner occupied and non-owner occupied) used for businesses. It originates secured and unsecured commercial lines of credit to finance the working capital needs of businesses to be repaid by seasonal cash flows. It also originates secured and unsecured commercial loans. It offers a range of consumer loans, primarily home equity loans and lines of credit, and loans secured by savings accounts or certificates of deposit (share loans), new farm and garden equipment, new and used automobiles, recreational vehicle loans and secured and unsecured personal loans. It offers loans secured by new and used boats, motor homes, campers and motorcycles. As of September 30, 2016, the Bank's total net loans amounted to $273.17 million.
The Bank's investment and mortgage-backed securities are classified into one of three categories: held to maturity, trading and available for sale. The Bank's securities portfolio consists primarily of municipal bonds, agency backed mortgage-backed securities and guaranteed portions of small business administration (SBA) pools. As of September 30, 2016, the Bank's total securities available for sale amounted to $75.24 million. As of September 30, 2016, the Bank's total securities held to maturity amounted to $40.67 million.
Sources of Funds
Deposits, borrowings and loan repayments are the sources of its funds for lending and other investment purposes. The Bank offers a range of deposit instruments, including noninterest-bearing demand accounts (such as checking accounts), interest-bearing accounts (such as interest-bearing checking and money market accounts), regular savings accounts and certificates of deposit. As of September 30, 2016, the Bank's total deposits amounted to $442.85 million.
The Bank's subsidiaries include United Community Bank Financial Services, Inc. and UCB Real Estate Management Holdings, LLC. United Community Bank Financial Services, Inc. collects commissions from a wealth management partner and also owns and manages a portion of the Bank's municipal bond portfolio.
United Community Bancorp Inc
92 Walnut St
LAWRENCEBURG IN 47025-1836