trending Market Intelligence /marketintelligence/en/news-insights/trending/S5gJyImOQD8aW3xyh-9ChA2 content esgSubNav
In This List

Illinois-based United Community to buy Liberty Bank

Blog

Spotlight on sustainability: How banks can overcome the challenges of achieving net-zero emissions by 2050

Blog

Insight Weekly: US election scenarios; borrowing costs rise; commercial REIT fears

Podcast

Street Talk | Episode 100 - KBW CEO offers optimism for bears fearful of bank liquidity, credit

Blog

Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall


Illinois-based United Community to buy Liberty Bank

In Illinois, Chatham-based willacquire Liberty Bankof Alton ($328.2 million), RiverBender.com reported Sept. 30.

The deal is still subject to regulatory and shareholderapprovals. If it closes, which is likely to happen in the first quarter of2017, Liberty bank will retain its name, staff and board of directors.

According to SNL data, offers for bank andthrift targets in the Midwest between Sept. 30, 2015, and Sept. 30, 2016,averaged 131.94% of book, 135.55% of tangible book and had a median of 18.24xlast-12-month earnings, on an aggregate basis.        

Liberty Bank is a subsidiary of UnitedCommunity Bancorp, meanwhile, has four banking subsidiaries, all in Illinois.They are United CommunityBank of Chatham ($1.05 billion), Brown County State Bank of Mount Sterling ($111.0million), Marine Bank &Trust ($253.4 million) of Carthage and of Quincy ($467.2million). United has another acquisition pending — that of Springfield-basedIllini Corp., whichhas two subsidiaries of its own. Those are Illini Bank ($283.2 million) and Camp Point, Ill.-basedFarmers State Bank of CampPoint ($46.3 million). Illini in June a merger agreement with adifferent bank, in order to be bought by United.

Through the deal with Liberty, United will enter MadisonCounty with four branches, to be ranked sixth with a 5.58% share ofapproximately $4.84 billion in total market deposits.

Click onthe map below to access a larger version as a PDF. To use S&P Global MarketIntelligence's branch analytics tools to compare market overlap, click here. To create custom maps, click here.