Union Community Bancorp (NASDAQ:UCBC)
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From Jun 2019 to Jun 2024
Union Community Bancorp (NASDAQ:UCBC), an Indiana
corporation, which is the holding company for Union Federal Savings &
Loan Association (the "Association"), announced today that the
shareholders of Union Community Bancorp have approved the merger of
UCBC with and into MainSource Financial Group, Inc. ("MainSource"). It
is anticipated that the merger will be effective at the end of the day
on March 17, 2006. Based on the terms of the Agreement and Plan of
Merger, dated August 23, 2005, by and among UCBC, the Association and
MainSource, UCBC shareholders receiving cash in consideration of their
UCBC Common Stock will receive $27.33 per share, and shareholders
receiving MainSource Common Stock in the merger will receive 1.4791
shares of MainSource Common Stock for each share of their UCBC Common
Stock. However, 55% of the aggregate consideration must be paid in
shares of MainSource Common Stock, and there may be allocations of
cash or stock made to shareholders (on the basis of the smallest to
the largest shareholders) to insure that the requirement is satisfied.
UCBC was formed in 1997 and subsequently acquired all the shares
of the Association. The Association has been headquartered in
Crawfordsville, Indiana since its establishment in 1913 and operates
six offices located in Montgomery, Fountain, Warren and Tippecanoe
Counties.
UCBC had $260.1 million in total assets and $33.1 million in
shareholders' equity as of December 31, 2005. There are currently
1,939,000 shares of UCBC common stock outstanding which are traded on
NASDAQ under the symbol "UCBC".