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Banks (Finance)

United Community Bancorp Seeks Approval to Become Bank Holding Company

Strategic Insights

— 1 min read

United Community Bancorp Inc. has filed an application with the Federal Reserve System to become a bank holding company, a move that would enable the Illinois-based entity to acquire Midland Bancshares Inc. and its subsidiary bank, Midland Community Bank. This regulatory change would allow United Community Bancorp to exercise control over the assets, ownership, and voting power of Midland Bancshares Inc. and Midland Community Bank.

As part of the application process, the Federal Reserve System is inviting interested parties to express their views on the proposed acquisition. Comments must be received by August 21, 2025, and will be made available to the public without change.

Key Takeaways:

  • United Community Bancorp Inc. has applied to become a bank holding company, seeking approval from the Federal Reserve System.
  • The acquisition would enable the company to exercise control over Midland Bancshares Inc. and Midland Community Bank.
  • The proposed acquisition is subject to the Bank Holding Company Act of 1956 and Regulation Y.
  • The public can view the application at the Federal Reserve Bank of Chicago and the offices of the Board of Governors.
  • Interested parties must submit comments by August 21, 2025, to be heard on the standards enumerated in the Bank Holding Company Act.
  • Comments will be subject to public disclosure and will be made available without change.

Statistics:

  • The application was announced in a notice published by the Federal Reserve System on July 22, 2025.
  • Comments regarding the application must be received no later than August 21, 2025.
  • The notice was signed by Erin Cayce, Assistant Secretary of the Board.
  • The proposed acquisition involves the acquisition of Midland Bancshares Inc. and its subsidiary bank, Midland Community Bank.

Sources:

  • Targeted News Service (Jaymar Talang)
  • Federal Register Documentation (https://www.federalregister.gov/documents/2025/07/22/2025-13781/formations-of-acquisitions-by-and-mergers-of-bank-holding-companies)

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