United Community Bancorp Announces Resignation of CFO Vicki March and Appointment of David Rosen
December 23 2016 - 9:00AM
Business Wire
United Community Bancorp (the “Company”) (Nasdaq: UCBA), the
holding company of United Community Bank (the “Bank”) today
announced that Vicki March, the Company’s and the Bank’s Chief
Financial Officer, Senior Vice President of Finance and Treasurer,
is resigning effective January 3, 2017. “We thank Vicki for her
service and wish her well in her future endeavors,” said the
Company’s President and Chief Executive Officer, E.G. McLaughlin.
The Company also announced that the Boards of Directors of the
Company and the Bank have appointed David Z. Rosen to serve as the
Company’s Chief Financial Officer following Ms. March’s departure.
Mr. Rosen currently serves as the Bank’s Chief Risk Officer, a role
in which he will continue to serve when he becomes Chief Financial
Officer. Regarding Mr. Rosen’s appointment, Mr. McLaughlin stated,
“We are incredibly fortunate to have such a talented officer
already in-house and prepared to assume the CFO’s duties in
January. As Chief Risk Officer, Dave has successfully managed the
Company’s securities portfolio and asset liability management
process, and assisted with the preparation of the Company’s and the
Bank’s financial statements. He has also advised the Bank’s
Investment and Asset Liability Management Committees on matters of
balance sheet and liquidity management and scenario based
profitability forecasting. His appointment will not only facilitate
a seamless transition of the CFO’s responsibilities, but it will
permit the Company and the Bank to consolidate managerial positions
such that we expect to realize noninterest expense savings
beginning in calendar year 2017.” Mr. Rosen has been United
Community Bank’s Chief Risk Officer since 2014. Prior to that time,
he was Chief Financial Officer of The Merchant’s Bank and Trust
Company in West Harrison, Indiana since 2010. From 2005 until 2010,
Mr. Rosen served as an Audit Supervisor of financial institutions
for two public accounting firms. Mr. Rosen is a certified public
accountant and has a bachelor’s degree in accounting and business
economics from the Miami University.
United Community Bancorp is the holding company of United
Community Bank, headquartered in Lawrenceburg, Indiana. The Bank
currently operates eight offices in Dearborn County and Ripley
County, Indiana.
This news release may contain forward-looking statements, which
can be identified by the use of words such as “believes,”
“expects,” “anticipates,” “estimates” or similar expressions. Such
forward-looking statements and all other statements that are not
historic facts are subject to risks and uncertainties which could
cause actual results to differ materially from those currently
anticipated due to a number of factors. These factors include, but
are not limited to, general economic conditions, changes in the
interest rate environment, legislative or regulatory changes that
may adversely affect our business, changes in accounting policies
and practices, changes in competition and demand for financial
services, adverse changes in the securities markets, changes in
deposit flows and changes in the quality or composition of the
Company’s loan or investment portfolios. Additionally, other risks
and uncertainties may be described in the Company’s annual report
on Form 10-K for the year ended June 30, 2016 filed with the SEC on
September 27, 2016 which is available through the SEC’s website at
www.sec.gov. Should one or more of these risks materialize, actual
results may vary from those anticipated, estimated or projected.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Except as may be required by applicable law or
regulation, the Company assumes no obligation to update any
forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20161223005211/en/
United Community BancorpE.G. McLaughlin, President and Chief
Executive Officer812-537-4822
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