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Sandusky, Ohio based Civista Bancshares, Inc. and United Community Bancorp (UCB) headquartered in Lawrenceburg, Indiana and the parent company of United Community Bank, have signed a definitive merger agreement pursuant to which Civista will acquire United.
Based on financial data as of December 31,2017, the combined company would have total assets of $2.1 billion, total loans of $1.5 billion, and total deposits of $1.7 billion. UCB operates an eight branch network in southeastern Indiana, five of which are located in the Cincinnati metropolitan statistical area (MSA).
According to Civista, this acquisition will allow it to bring its commercial lending platform to UCB's demographically strong markets. UCB will provide Civista with low cost core deposit funding and excess liquidity.
Civista currently operates branches and loan production offices from northern Ohio to Dayton. The acquisition of UCB expands Civista's community banking franchise into and around the Cincinnati...