News Release

Dec 1, 2021

United Community Bank to purchase Dixon Bank

Morganfield Ky --   United Community Bancshares, headquartered in Morganfield KY has signed an agreement to purchase Dixon Bank, located in Dixon KY. Pending regulatory approval the acquisition is expected to be completed in the first quarter of 2022 and will bring United Community’s assets to approximately $450 million.

Dixon Bank customers will continue to use the current Dixon Bank location until the final conversion is completed in April whereupon United Community’s new office located nearby will become the home for all customers.

“The Dixon Bank fits nicely into our market area.  With 3 branches in both Union and Webster County, this will strengthen our position as the primary locally owned community bank in this area and offers multiple locations for customers to do their banking.  We look forward to working with the staff at Dixon Bank. I think they share our strong commitment to community and customer service and local decision-making which are bedrock principles of UCB”, said Garland Certain, CEO of United Community Bank.

“We are excited to partner with a locally owned, community bank that will focus on service to our customers, while also providing an outstanding workplace for our staff.  There is no doubt that UCB will continue the Dixon Bank tradition, that began 126 years ago, of serving the needs of Dixon and Webster County”, said Tripp Ramsey, CEO of Dixon Bank.

Milynco Financial served as financial advisor and Ziemer, Stayman, Weitzel, Shoulders LLC provided legal counsel to Dixon Bank.

Frost, Brown Todd Attorneys LLC and King and Co CPA firm provided legal and consulting services to United Community Bancshares, Inc.

United Community Bank contact:  Jim Peak, Exec. V.P. & CFO, 270-389-3232

Dixon Bank: Tripp Ramsey, CEO, 270-639-5082