United Community Bank is pleased to announce that our parent company, United Community Bancorp, Inc., has reached a definitive agreement to acquire 100% of Liberty Bank based in Alton, Illinois.
Liberty Bank is a full service community bank with four locations in the Madison County communities of Alton, Godfrey, and Bethalto, with $328.2 million in assests as of June 30, 2016.
"Liberty Bank is an excellent and very strategic addition to our group of banks," said Robert A. Narmont, Chairman and CEO of United Community Bancorp. "Liberty Bank is a natural extension of our market area. They are a strong, well-respected institution in the communities they serve and have a philosophy very similar to ours."
"Liberty Bank has an outstanding reputation as a strong community leader and a great team of bankers who will continue to lead Liberty Bank. We are excited to have this opportunity to bring together our strengths, not only for the residents and businesses of Madison County, but for all of our customers combined," stated Todd Wise, President and CEO of United Community Bank.
Upon completion of this purchase and the company's Illini Corporation merger, United Community Bancorp will be the largest banking group in Sangamon County and West Central Illinois with $2.5 billion in consolidated assets. Its bank network will include 46 branches serving 32 communities in 13 central Illinois counties and one in northwest Missouri. "It's a network that clearly shows, not only our regional focus, but our commitment to and our investment in communities of all sizes throughout central Illinois...the places we call home," stressed Wise.Read the complete Press Release