United Bancorp. of Alabama raises $26 million

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United Bancorp. of Alabama in Altmore has raised $26.3 million in capital.

The parent company of the $639 million-asset United Bank said in a press release that it sold common stock to local and institutional investors on April 2.

"We believe our growing franchise is well-positioned and that the new capital will allow us to continue to pursue growth opportunities,” Robert Jones III, United Bank's president and CEO, said in the release.

The company was advised by FIG Partners and Maynard Cooper & Cooper.

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