United Community Bancorp (UCBA) in Lawrenceburg, Ind., is extending its community offering after receiving insufficient orders for stock to complete its second-step conversion.
The $504 million-asset company has orders for roughly 2.6 million shares. To complete the offering, it must sell a minimum of almost 3 million shares.
United Community's board has extended the community offering and will solicit additional buyers in order to complete the offering, the company said Friday.
Earlier this month United Community
The company announced its plans to convert from a mutual holding company to a fully stock-owned one last year.