United Community Bancorp, Inc. (UCB) is set to acquire Midland Community Bank. The two Illinois-based banks agreed to the deal on Friday, May 9. Midland currently has two locations in Kincaid and Taylorville. UCB currently has $3.9 billion in assets, while Midland has $66.9 million. The purchase will add to UCB’s family of banks which includes United Community Bank in Chatham, several others in western Illinois, and one in Naples, Florida.
Mary Coy, CEO of Midland Community Bank, says the purchase will preserve their community banking roots and enhance their ability to serve their customers. Allen Schmale, Chairman and CEO of United Community Bank, says they look forward to welcoming Midland’s team and customers and working together in delivering banking services.
Provided the acquisition receives regulatory and shareholder approval, the deal is expected to close later this year.
