UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 19, 2014
UNITED COMMUNITY FINANCIAL CORP.
(Exact name of registrant as specified in its charter)
OHIO | 0-024399 | 34-1856319 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
275 West Federal Street, Youngstown, Ohio 44503-1203
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (330) 742-0500
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 8 Other Events
Item 8.01. | Other Events. |
On May 19, 2014, UCFC issued a press release to announce that the Board of Directors has reinstituted its share repurchase program, a copy of which is attached as Exhibit 99 and is incorporated herein by reference. The Board authorized the repurchase of a maximum of 1,477,804 UCFC common shares.
Section 9 Financial Statements and Exhibits
Item 9.01. | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit Number |
Description | |
99 | Press release dated May 19, 2014 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
UNITED COMMUNITY FINANCIAL CORP. | ||
By: | /s/ Jude J. Nohra | |
Jude J. Nohra, General Counsel & Secretary |
Date: May 21, 2014
Exhibit 99
For Immediate Release
Media Contact: |
Investor Contact: | |
Colleen Scott | Gary M. Small | |
Vice President of Marketing | President and CEO | |
Home Savings | United Community Financial Corp. | |
(330) 742-0638 | (330) 742-9823 | |
cscott@homesavings.com |
United Community Financial Corp. Announces
Share Repurchase Program
YOUNGSTOWN, Ohio United Community Financial Corp. (NASDAQ: UCFC), holding company of The Home Savings and Loan Company of Youngstown, Ohio , announced that the UCFC Board of Directors has reinstituted its share repurchase program.
The Board authorized the repurchase of a maximum of 1,477,804 UCFC common shares. The original authorization of the Board in April 2007 approved the repurchase of up to 2,000,000 UCFC common shares.
Gary M. Small, President and Chief Executive Officer of UCFC and Home Savings stated, As we implement our capital management strategies in an effort to maximize shareholder value and returns, we recognize the inherent value of the organization, which we believe is not reflected in the current market price of UCFCs shares. Now that all regulatory orders and agreements have been terminated, we believe that reinstating the prior repurchase program allows us to take advantage of the favorable market price of UCFC shares and is in the best interests of the Company and its shareholders.
As a wholly-owned subsidiary of United Community Financial Corp., Home Savings operates 33 full-service banking offices and ten loan production offices located throughout Ohio and western Pennsylvania. Additional information on UCFC and Home Savings may be found at www.ucfconline.com.
When used in this press release, the words or phrases believes, will likely result, are expected to, will continue, is anticipated, estimate, project, will have or similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, including changes in economic conditions in the Companys market area, changes in policies by regulatory agencies, fluctuations in interest rates, demand for loans in the Companys market area, and competition that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company advises readers that the factors listed above could affect the Companys financial performance and could cause the Companys actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.
The Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
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