BUSINESS COMBINATION (Tables) - OLCB [Member]

3 Months Ended

Mar. 31, 2017

The following table summarizes the consideration paid for OLCB.

	(In thousands)
Cash	$	20,379
United Community shares issued		25,816
Total fair value of consideration paid	$	46,195

Schedule of Assets Acquired and Liabilities Assumed

At the acquisition date, United Community added the following to the Company’s consolidated statements of financial position:

	(In thousands)
Cash	$	46,159
Loans		259,373
Available for sale securities		9,996
FHLB stock, at cost		1,256
Premises and equipment		2,940
Accrued interest		679
Other intangible assets		2,426
Other real estate owned		89
Other assets		7,988
Total assets acquired	$	330,906

Deposits assumed	$	266,279
Federal Home Loan Bank advances		23,500
Repurchase agreements and other borrowings		10,771
Accrued expenses and other liabilities		2,581
Total liabilities assumed	$	303,131

Goodwill created	$	18,420

Summary of Pro Forma Information

The following table presents proforma information as if the acquisition had occurred at the beginning of 2016. The proforma information includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the transaction, depreciation expense on property acquired, interest expense on deposits acquired, and the related income tax effects. The proforma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed dates. Net income includes the recognition of $4.1 million in merger releated expenses incurred by United Community and $368,000 in merger related expenses for OLCB during the threee months ended March 31, 2017.

	For the three months ended		For the three months ended
	March 31, 2017		March 31, 2016
	(In thousands, except per share data)
Net interest income	$	19,735	$	17,839
Net income		1,183		3,995
Basic earnings per share	$	0.02	$	0.08
Diluted earnings per share	$	0.02	$	0.08