SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 2, 2002 UNITED COMMUNITY BANCORP ------------------------------------------------------------------------------- (Exact name of Registrant as specified in its charter) North Carolina 0-26551 56-2137427 ------------------------------------------------------------------------------- (State or other jurisdiction (Commission File No.) (IRS Employer Identification of incorporation) number) 804 Second Street, NE, Hickory, NC 28601-3843 - -------------------------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code (828) 431-2300 - -------------------------------------------------------------------------------- (Former name or address, if changed since last report.) ITEM 5. OTHER MATERIAL EVENTS - ----------------------------- On August 2, 2002 the Registrant entered into an Agreement and Plan of Merger with Community Bancshares, Inc., North Wilkesboro, North Carolina ("Community"), whereby Community would be merged with and into Registrant and Community's wholly-owned subsidiary bank, Northwestern National Bank would be merged with and into one of Registrant's wholly-owned subsidiary banks, Catawba Valley Bank. Shareholders of Community will receive either cash of $21.00 per share or shares of Registrant's common stock valued at $21.00 per share or a combination of both, with 70% of Community's shares being exchanged for shares of Registrant's common stock and 30% being exchanged for cash. The transaction is subject to shareholder approvals of both Registrant and Community and federal and state banking authorities. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNITED COMMUNITY BANCORP By: /s/ R. Steve Aaron ------------------ R. Steve Aaron President and Chief Executive Officer Dated: August 5, 2002 3 EXHIBIT INDEX ------------- Exhibit Number Description of Exhibit - ------- ---------------------- 2 Agreement and Plan of Merger by and between United Community Bancorp and Community Bancshares, Inc. dated August 2, 2002. 99 Press Release. 4