United Community Bank’s Ritzmann Retiring; McLaughlin To Be CEO
By Mike Perleberg
(Lawrenceburg, Ind.) – There is going to be a change at the top of United Community Bank.
The Lawrenceburg-based bank with eight branches throughout Dearborn and Ripley counties announced in a Friday press release that Bill Ritzmann will retire as UCB’s president and CEO on June 30.
Ritzmann will continue to serve on United Community Bancorp’s Board of Directors.
Taking Ritzmann’s place will be E.G. McLaughlin starting July 1. He has been Chief Operating Officer and Executive Vice President of UCB since it was created in 1999 from the merger of Perpetual Federal Savings and Loan Association and Progressive Federal Savings Bank.
McLaughlin was with Perpetual Federal for 28 years in roles as president, executive vice president, director, and head of operations.
McLaughlin also serves as an officer and on the boards of various community service organizations in his native Lawrenceburg. He is a graduate of the University of Notre Dame and received a Masters Degree in Economics from Indiana University.
“It has truly been a privilege to be a part of the United Community family for so many years,” said Ritzmann in the release. “United Community represents the best of what community banking seeks to achieve. I am very pleased that E.G. McLaughlin will be my successor, and sincerely echo the Board’s sentiments regarding E.G.”
United Community Bancorp Chairman of the Board Ralph Sprecher said the board couldn’t be more grateful to Ritzmann for his contributions to the bank and the communities and constituents it serves.
“Our institution has benefitted from his leadership, character and vision since he first joined Progressive Federal Savings Bank’s board in 1975,” Sprecher said. “Together with E.G. McLaughlin, Bill has successfully guided the Bank and the Company through the extraordinary cycles that the financial services industry has endured during his tenure. While we wish Bill the best as he transitions his management responsibilities to E.G., we are delighted that we will continue to benefit from Bill’s presence on the Company’s and the Bank’s Boards of Directors.”
Noting that the transition is expected to be seamless, Sprecher said UCB is fortunate to be able to appoint McLaughline as the new CEO and president, because he epitomizes the skill and experience of the bank’s management team and worked closely with Ritzmann to strengthen and position it for future success.
McLaughlin said he is honored to be appointed the new president and CEO of UCB, an institution that represents such a significant part of his personal and professional life.
“Having worked with Bill Ritzmann and the rest of the United Community management team and the Board for so many years, I am very confident that we are well positioned to help United Community continue to serve the best interests of its shareholders, customers and communities. I will work diligently to ensure the Bank’s and Company’s continued success and honor the legacy of Bill’s stewardship.”
United Community Bank has $517 million in assets.