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Latest UBAB News
$10 Million in New Markets Tax Credit Financing for a New cold Storage and Refrigerated Logistics Facility in Albertville, AL
UB Community Development (UBCD), a community development partner of United Bank is pleased to announce its role in financing $40 million in New Markets Tax Credits (NMTC) for the development and operation of a temperature-controlled warehouse facility that will support food producers, processors, and distributors throughout regional supply chains. PermaCold Logistics, LLC is undertaking this project as demand continues to increase across the food and agricultural sector in Northern Alabama.
Alabama bank blasts investors’ request to join board
Blue Hill Advisors and Merion Road Capital Management decried “inaction” from United Bancorporation of Alabama, concerning several suggestions the investors made. The bank called their requests “unreasonable.”
MERION ROAD CAPITAL AND BLUE HILL ADVISORS REQUEST BOARD REPRESENTATION AT UNITED BANCORPORATION OF ALABAMA
Merion Road Capital Management, LLC ("MRCM") and Blue Hill Advisors LLC ("BHA") (collectively, the "Investors"), shareholders of United Bancorporation of Alabama, Inc. ("UBAB" or the "Company") (OTCQX: UBAB), today sent a letter to the Company's Board of Directors formally requesting the appointment of MRCM Manager, Aaron Sallen, and BHA Managing Member, Jason Blumberg, as independent directors.