Press Releases

LOS ANGELES, Feb. 10, 2012 /PRNewswire/ -- Companies offering hybrid car rentals are being shown the way by MPG, a company so far ahead, their fleet of green cars and hybrids features new 2012 models even your greenest environmentally friendly acquaintance probably hasn't heard of yet. But they will soon, and when they do they'll be green with envy. MPG offers rentals with both cutting edge mileage and top performance in their class. Along with recognizable, iconic models like the Prius and Chevy Volt, MPG has recently added the gorgeous and sporty Fisker Karma. However, always the leader in green rentals, they're already building on their collection with the stylish new Lexus CT200.

Those who don't want to sacrifice luxury for environmental improvement are in for a treat when they sit down in a Lexus CT200. Get behind the wheel and you'll know this is no Prius. The design of the interior elements screams "fun" not "fuel economy." Using some of the same engine components as the Prius, and offering similar mileage and even better performance, the advantage here is for those who prefer to stay low-key about the mileage their car is getting. This looks like any sleek stylish Lexus, and that's a very good thing. This is as good for the Earth as luxury cars get, but when you're in the mood, the CT200 can give you an added performance edge. The Lexus brand is the choice for those who want a company with experience, since they have more hybrid models under their brand than anyone else. As for where to get it? Trust MPG Car Rental's experienced customer service and maintenance, so when you push the "on" button, you'll know you're in the hands of the best car rental company for yourself and your planet.

And speaking of the planet, MPG Car Rental's Test Drive program is a cutting edge idea aimed at getting drivers into the cars everyone's considering these days: green cars. It's impossible to deny that this revolution is all around us, but smart customers know a dealership test drive isn't enough to make a conscientious choice about a big decision like this. That's why MPG wants drivers to experience green for a week. Once they do, they'll find out the benefits of driving without stopping to fill up the gas tank. It's also a great way to reach out to the community with the green car ideal, and tell the world about this diverse and fun-to-drive new category of vehicle. The best part?  With the test drive program, if a customer decides to buy, the cost of renting can be taken out of the purchase price. MPG has much more to offer the customers, and the planet, than any other Car Rental by LAX.

For information about the test drive program, rentals, or just to find out more about green cars, check out their website at www.mpgcarrental.com.

PR submitted by www.cyberset.com

SOURCE MPG Car Rental

COLUMBUS, Ohio, Feb. 10, 2012 /PRNewswire/ -- With a calculated flick of his finger Chris Eldridge sent his slider into a controlled roll that stopped in the end zone, scoring a late 4th quarter touchdown to surge ahead, he held on for the first-ever Slider Bowl Championship. White Castle awarded Eldridge, from the northern Chicago suburb of Roscoe, with $2,500 cash and White Castle for life ($500 gift cards for 25 years). During an intense final game between Eldridge and E.J. Medero of New York, Eldridge won the Finger Football® tournament final by the score of 20 to 14.

(Logo: http://photos.prnewswire.com/prnh/20030828/WHITECASTLELOGO )

Eldridge slugged through three solid rounds of finger football before reaching the championship game.

"I kept a steady hand throughout the tournaments and maintained a sense of calm," said Eldridge. "I'm planning to donate the gift cards to charity, which is what I did when I won in Chicago. This was an exciting event and I was fortunate to win in Chicago and travel to Indianapolis to participate in the White Castle Slider Bowl."

Before the Slider Bowl tournament, two participants said, "I do" at the White Castle in downtown Indianapolis. The couple, E.J. Medero and Christine Chaay, from New York faced each other in the regional finals and both played in the Slider Bowl.

"Partnering with Zelosport for the first-ever NFFL tournament provided White Castle an opportunity to bring the entertaining and family-oriented game of Finger Football to Cravers," said Jamie Richardson, vice president at White Castle. "We want to interact with our customers through diverse events and the NFFL tournament has provided us that opportunity."

White Castle and Zelosport, the maker of Finger Football®, teamed up for a 12-city tournament from September through mid-December. A total of 16 winners (men, women and children) advanced to play for the championship in Indianapolis.

"I set out to create a game that people of all ages are able to play and that's exactly what I did with finger football," said Spud Alford, founder and CEO of the NFFL and Zelosport and a long-time fan of White Castle. "The Slider Bowl competitors were some of the best finger football competitors I've met and it's been a thrilling conclusion to a fascinating tournament."

Competitors and the regions they represented in the Slider Bowl:

• Gordy Blanchette, Minneapolis
• Jeff Fitzgerald, St. Louis
• Christopher Eldridge, Chicago
• Christine Chaay, New York
• Chris Kern, Indianapolis
• Tom Meiser, Indianapolis
• Hassan Abbas, Detroit
• Matthew Lemon, Cincinnati
• David Melaragno, Cleveland
• Chad Runtz, Cincinnati
• Michael Lemon, Cincinnati
• Darrell Booker, Louisville
• Jeff Long, Nashville
• Alison Burnett, New Jersey
• Marcus Mardirosian, New York
• Efrain Medero, New York

All 16 regional winners won White Castle for a year ($500 gift card) and $250.

About White Castle White Castle is a family-owned business based in Columbus, Ohio that owns and operates more than 400 White Castle restaurants in 11 states. The company was founded in Wichita, Kansas in 1921 and is America's first fast-food hamburger chain. All White Castle Sliders are made from 100-percent USDA approved beef or 100-percent white meat chicken. For more information on White Castle, visit www.whitecastle.com.

About the National Finger Football League® Zelosport and the National Finger Football League® (NFFL) are based in Columbus, GA. Spud Alford, the founder and CEO of Zelosport is the creator of Finger Football®. To sign-up and compete in the NFFL log onto http://www.thenffl.com. Search for more games and where to buy them at http://www.zelosport.com. Also, check out the upcoming Professional Finger Golf Tour® at http://www.pfgtour.com.

SOURCE White Castle

LAWRENCEBURG, Ind., Feb. 10, 2012 /PRNewswire/ -- United Community Bancorp (the "Company") (Nasdaq: UCBA), the holding company for United Community Bank (the "Bank"), today reported net income of $531,000, or $0.07 per diluted share, for the quarter ended December 31, 2011, compared to net income of $579,000, or $0.08 per diluted share, for the quarter ended December 31, 2010.  Net income for the six months ended December 31, 2011 was $1.0 million, or $0.13 per diluted share, compared to $850,000, or $0.11 per diluted share, for the six months ended December 31, 2010.    

For the three months ended December 31, 2011:

Net interest income remained flat at $3.6 million for the quarter ended December 31, 2011 as compared to the quarter ended December 31, 2010.   A decrease of $333,000 in interest income was offset by a $376,000 decrease in interest expense.  The decrease in interest income was primarily the result of a $17.6 million decrease in average outstanding loans combined with a decrease in the average rate earned on loans from 5.74% to 5.60%.  The decrease in interest expense was primarily the result of a $27.2 million decrease in average deposits combined with a decrease in the average interest rate paid on deposits from 1.28% to 1.01%.  Changes in interest rates are reflective of decreases in overall market rates.  

The provision for loan losses was $977,000 for the quarter ended December 31, 2011, compared to $737,000 for the same quarter in the prior year. Management evaluates the Bank's allowance for loan loss for adequacy on at least a quarterly basis.  As part of this evaluation, management considers the amounts and types of loans, concentrations, the value of underlying collateral, current economic conditions, historical charge-offs, and other relevant information, such as the size of the overall portfolio and the financial condition of the borrowers.  Nonperforming loans increased $0.3 million, from $15.2 million at September 30, 2011 to $15.5 million at December 31, 2011, compared to an increase in nonperforming loans from $18.7 million at September 30, 2010 to $23.5 million at December 31, 2010.  

Other income increased $232,000, or 23.8%, from $973,000 in the prior year quarter to $1.2 million in the current year quarter.  The increase was primarily due to a $327,000 increase in gain on sale of investments offset by a $85,000 decrease in gain on the sale of loans. The increase in gain on sale of investments was the result of the sale of 19 securities totaling $26.0 million in the current year quarter, with no sales in the prior year quarter.  The Company has implemented a strategy where it will sell a portion of its securities to recognize gains and reinvest the proceeds in securities with similar interest rates and terms without significantly affecting the interest rate risk to the Company. The decrease in the gain on sale of loans was the result of fewer loan sales to Freddie Mac in the current year quarter when compared to the same quarter in the prior year. The decrease in loan sales was the result of interest rates remaining relatively unchanged over the last year, leading to a decrease in refinances.

Other expense decreased $63,000, or 2.0%, to $3.1 million for the quarter ended December 31, 2011, from $3.2 million in the prior year quarter.  The decrease was primarily the result of a $103,000 decrease in deposit insurance premiums as a result of the aforementioned decrease in average deposits in the current year quarter from the prior year quarter.  

For the six months ended December 31, 2011:

Net interest income increased $183,000, or 2.62%, to $7.2 million for the six months ended December 31, 2011 as compared to $7.0 million for the six months ended December 31, 2010.  A decrease of $859,000 in interest expense was partially offset by a $676,000 decrease in interest income.  The decrease in interest expense was primarily the result of a $23.0 million decrease in average deposits combined with a decrease in the average interest rate paid on deposits from 1.39% to 1.06%.  The decrease in interest income was primarily the result of a $20.0 million decrease in average outstanding loans combined with a decrease in the average rate earned on loans from 5.69% to 5.53%.  Changes in interest rates are reflective of decreases in overall market rates.  

The provision for loan losses was $1.9 million for the six months ended December 31, 2011, compared to $1.5 million for the same period in the prior year. Nonperforming loans decreased $5.1 million, from $20.6 million at June 30, 2011 to $15.5 million at December 31, 2011, compared to an increase in nonperforming loans from $10.6 million at June 30, 2010 to $23.5 million at December 31, 2010.  The decrease in nonperforming loans in the current year period was primarily the result of troubled debt restructurings that were placed on accrual (performing) status after performing in accordance with their restructured terms for at least six consecutive months, partially offset by additional nonperforming loans in the current year period.

Other income increased $363,000, or 18.4%, from $2.0 million in the prior year period to $2.3 million in the current year period.  The increase was primarily due to a $519,000 increase in gain on sale of investments offset by a $229,000 decrease in gain on the sale of loans. The increase in gain on sale of investments was the result of the sale of 30 securities totaling $51.6 million in the current year period, compared to the sale of only two securities totaling $4.0 million in the prior year period.  The decrease in the gain on sale of loans was the result of fewer loan sales to Freddie Mac in the current year period when compared to the same period in the prior year.

Other expense decreased $165,000, or 2.6%, to $6.3 million for the six months ended December 31, 2011, from $6.5 million in the prior year period.  The decrease was primarily the result of a $194,000 decrease in deposit insurance premiums as a result of the aforementioned decrease in average deposits.  

Total assets were $466.8 million at December 31, 2011, compared to $472.7 million at June 30, 2011.  Total assets decreased $5.9 million, or 1.2%, as a result of a $14.5 decrease in cash partially offset by increases in investment securities of $2.5 million, Federal Home Loan Bank ("FHLB") stock of $4.1 million and bank owned life insurance ("BOLI") of $2.3 million.  The increase in investment securities was primarily due to purchases of mortgage-backed securities offset by sales of other available for sale securities. The increase in FHLB stock was attributable to the Bank's desire to increase its borrowing capacity.  BOLI was increased to offset and recover existing benefit expenses.  The decrease in cash is the result of funding the increases in these other assets in addition to a $5.6 million decrease in deposits.  

Total liabilities were $412.0 million at December 31, 2011, compared to $418.4 million at June 30, 2011.  The decrease was primarily the result of a $9.4 million decrease in municipal deposits partially offset by a $3.8 million increase in deposits other than municipal deposits.   The decrease in municipal deposits was due to the normal cyclical cash flow needs of the municipalities.

Total stockholders' equity was $54.8 million at December 31, 2011, compared to $54.3 million at June 30, 2011.  The increase was primarily the result of net income of $1.0 million, partially offset by dividends paid of $665,000.  At December 31, 2011, the Bank was considered "well-capitalized" under applicable regulatory requirements.

United Community Bancorp is the holding company of United Community Bank, headquartered in Lawrenceburg, Indiana.  The Bank currently operates nine offices in Dearborn and Ripley Counties, Indiana.

This news release may contain forward-looking statements, which can be identified by the use of words such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements and all other statements that are not historic facts are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. These factors include, but are not limited to, general economic conditions, changes in the interest rate environment, legislative or regulatory changes that may adversely affect our business, changes in accounting policies and practices, changes in competition and demand for financial services, adverse changes in the securities markets, changes in deposit flows and changes in the quality or composition of the Company's loan or investment portfolios. Additionally, other risks and uncertainties may be described in the Company's annual report on Form 10-K, or its quarterly reports on Form 10-Q, which are available through the SEC's website at www.sec.gov. Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements.

SOURCE United Community Bancorp