Attached files
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| 8-K - FORM 8-K ANNOUNCING CONSOLIDATION OF SUBSIDIARY BANKS - UNITED BANCORP INC /MI/ | form8k.htm |
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FOR
IMMEDIATE RELEASE:
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CONTACT:
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Robert
K. Chapman
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April
1, 2010
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rchapman@ubat.com
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734-214-3801
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UNITED
BANCORP, INC. COMBINES ITS SUBSIDIARY
BANK
CHARTERS INTO UNITED BANK & TRUST
TECUMSEH, MI — United Bancorp,
Inc. (OTC:UBMI) announced today that its two banks, United Bank & Trust and
United Bank & Trust – Washtenaw, have united as one bank effective April 1,
2010 and are operating under the United Bank & Trust name. The bank has
sixteen full service offices in Lenawee, Monroe and Washtenaw
counties.
Robert K.
Chapman, President and CEO of United Bancorp, Inc., will serve in that same role
at the bank. “We are excited to leverage the skills, abilities and
resources of these two fine operations to better serve the needs of individuals,
families and businesses in our markets,” commented Chapman. Reporting to Chapman
are Lenawee Market President Joseph R. Williams and Washtenaw Market President
Todd C. Clark, who has also assumed the role of Chief Operating Officer for the
bank. “Both Joe and Todd bring a wealth of banking experience to these
positions, and we are excited to have them leading our efforts,” said
Chapman.
Mr.
Chapman continued, “Our
clients should experience a seamless transition, and will continue to benefit
from exceptional service and local management. United Bank & Trust is
committed to customer service, a focus on helping our clients succeed, and a
dedication to the communities in which we operate. Our new consolidated
structure will benefit our clients, bank co-workers and the local communities in
the markets we serve.”
About
United Bancorp, Inc.
United
Bancorp, Inc is the holding company for United Bank & Trust, an
independent financial services company that operates sixteen banking offices in
Lenawee, Monroe, and Washtenaw counties. In addition to traditional
banking services, United maintains an active wealth management group, mortgage
company, as well as expertise in small business lending. For more information,
visit the Bank’s website at www.ubat.com.
Forward-Looking
Statements
This
press release contains forward-looking statements that are based on management's
beliefs, assumptions, current expectations, estimates and projections about the
financial services industry, the economy, and United Bancorp, Inc. These
statements include, among others, statements related to our ability to
successfully consolidate our subsidiary banks and transition clients and
statements related to the benefits of the bank consolidation on our clients,
bank co-workers and the local communities in which we operate. Our ability to
successfully consolidate our subsidiary banks is not entirely within our control
and is not assured. These statements are not guarantees of future performance
and involve certain risks, uncertainties and assumptions (“risk factors”) that
are difficult to predict with regard to timing, extent, likelihood and degree of
occurrence. Therefore, actual results and outcomes may materially differ from
what may be expressed or forecasted in such forward-looking
statements.
Risk
factors include, but are not limited to, the risk factors described in "Item 1A
- Risk Factors" of United Bancorp, Inc.'s Annual Report on Form 10-K for the
year ended December 31, 2009; the timing and level of asset growth; changes in
market interest rates; changes in banking laws and regulations; changes in tax
laws; changes in property values, asset quality and the financial capability of
borrowers; actions of bank regulatory authorities; changes in tax laws; changes
in prices, levies and assessments; the impact of technological advances and
issues; the impact of possible future litigation; governmental and regulatory
policy changes; changes in value and credit quality of investment securities;
the local and global effects of ongoing and future military actions; and current
uncertainties and fluctuations in the financial markets and stocks of financial
services providers due to concerns about credit availability and concerns about
the Michigan economy in particular. These and other factors are representative
of the risk factors that may emerge and could cause a difference between an
ultimate actual outcome and a preceding forward-looking statement. United
Bancorp, Inc. undertakes no obligation to update, amend or clarify
forward-looking statements, whether as a result of new information, future
events or otherwise.
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