United Bancorporation of Alabama, Inc. announces merger between United Bank and Town-Country United Bank

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Sep 05, 2024, 08:00 ET

ATMORE, Alabama, Sept. 5, 2024 /PRNewswire-PRWeb/ -- United Bancorporation of Alabama, Inc. today announced that its banking subsidiaries Town-Country United Bank and United Bank will merge effective October 1, 2024, with United Bank being the surviving entity. Upon completion of the merger United Bank will have approximately $1.3 billion in assets with 19 full-service branches and four loan production and support offices across Alabama and the panhandle of Florida.

"In 2021, United Bancorporation purchased Town-Country National Bank, as they were a geographic and cultural fit to United Bank. For three years we have been pleased with the continued growth and development of Town-Country United Bank in the Camden market. This final step in bringing our two banks together is the culmination of that transition. We are excited to bring the full suite of products and services to further meet the financial needs of the customers in Camden and Wilcox County," explained Michael R. Vincent, President and CEO of United Bancorporation of Alabama, Inc.

About United Bancorporation of Alabama, Inc.

United Bancorporation of Alabama, Inc. is a $1.3 billion financial holding company and parent company of United Bank and UB Community Development, primarily serving Southwest Alabama and Northwest Florida. United is designated as a CDFI, committed to stimulating economic development in underserved communities. United and its two subsidiaries operate 23 locations across six counties. UB Community Development focuses on economic and community development through New Markets Tax Credits, affordable housing and community facilities programs. For a complete quarterly report visit our investor relations site. Member FDIC.

SOURCE United Bancorporation