United Community Financial (UCFC) in Youngstown, Ohio, has reduced its classified assets nearly in half through a bulk sale.

The $1.9 billion-asset company said Monday that it sold assets valued at $114.8 million in a sale that it completed on Friday. United Community said it would record a $29.4 million loss associated with the sale, but the company defended the decision to pursue the deal because it met asset quality targets set forth in a consent order with regulators.

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