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News Breaks | | | | January 22, 2013 | | 09:31 EDT |  | UCBA | Stilwell reports 9.2% stake in United Community, to work with management
Stilwell Value Partners disclosed a 9.2% stake in United Community Bancorp and said it hopes to work with management and the board to maximize shareholder value. Stilwell stated, "We believe the Company must reduce problem assets below 2% before expanding. We will encourage the Company to repurchase shares of outstanding Common Stock with excess capital when permitted by applicable regulations. We oppose using excess capital to 'bulk up' on securities or to rapidly increase the size of the loan portfolio. If the Company pursues any action that dilutes tangible book value per share, we will aggressively seek board representation." | |
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