United Community Bancorp Announces Suspension Of Quarterly Cash Dividend Pending Completion Of Second Step Conversion

   United Community Bancorp Announces Suspension Of Quarterly Cash Dividend
                 Pending Completion Of Second Step Conversion

PR Newswire

LAWRENCEBURG, Ind., Sept. 27, 2012

LAWRENCEBURG, Ind., Sept. 27, 2012 /PRNewswire/ --United Community Bancorp
(the "Company") (Nasdaq: UCBA) announced today that the Company's Board of
Directors has voted to suspend the payment of the quarterly cash dividend on
the Company's common stock as a result of the cost and uncertainty associated
with United Community MHC's (the "MHC") ability to waive receipt of the
Company's dividends. Due to recent changes in federal regulations applicable
to mutual holding companies relating to the waiver of dividends by parent
mutual holding companies, the Board of Directors has determined to suspend the
payment of any further cash dividends on the Company's common stock until
after completion of the MHC's pending second step conversion, which the
Company currently anticipates will be completed in the first calendar quarter
of 2013. In recognition that current shareholders will not be receiving
dividends until the conversion is completed and the Company establishes a new
policy of regular cash dividends, the Company, subject to regulatory approval,
also intends to declare and pay a one-time special cash dividend following
completion of the conversion.

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 press 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
filed with the SEC on September 7, 2012 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.

SOURCE United Community Bancorp

Website: http://www.bankucb.com
Contact: United Community Bancorp, William F. Ritzmann, President and Chief
Executive Officer, +1-812-537-4822
 
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