Exhibit 99

275 West Federal Street

Youngstown, Ohio 44503-1203

FOR IMMEDIATE RELEASE

United Community Financial Corp. Announces Second Quarter Results;

Asset Quality Improvement Continues

YOUNGSTOWN, Ohio (August 14, 2012) – United Community Financial Corp. (Company) (Nasdaq: UCFC), holding company of The Home Savings and Loan Company of Youngstown, Ohio (Home Savings), today reported consolidated net income of $62,000 for the three months ended June 30, 2012. The Company also reported net income of $3.9 million, or $0.12 per diluted share, for the six months ended June 30, 2012.

Selected second quarter results:

Patrick W. Bevack, President and Chief Executive Officer of UCFC and Home Savings, commented that, “We are pleased that the Company has now achieved profitability for three consecutive quarters. The Company is continuing to see positive results from improvements in asset quality since year-end.”

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Asset Quality

Delinquent loans were $109.8 million at June 30, 2012, down $85.4 million, or 43.8%, from their high point of $195.2 million at March 31, 2010. Nonperforming loans at June 30, 2012 were $114.5 million, down $40.6 million, or 26.2%, from their high point of $155.1 million at June 30, 2010. Nonperforming assets were $139.3 million at June 30, 2012, down $57.9 million, or 29.4%, from their high point of $197.2 million at June 30, 2010. Delinquent loan totals, nonperforming loan totals and nonperforming asset totals were negatively affected in the second quarter by a single loan relationship consisting of seven loans totaling $8.4 million that went into bankruptcy proceedings in the second quarter.

The provision for loan losses was $6.3 million for the second quarter of 2012, as compared to $680,000 for the first quarter in 2012. This $5.6 million increase in the provision for loan losses was primarily the result of recording a charge related to the resolution of debt of a single commercial loan customer, as mentioned above. The Company was able to successfully secure the settlement of seven loans related to this borrower. The aggregate unpaid principal balance of these seven loans totaled $22.2 million, with Home Savings recognizing a loss through a chargeoff of $5.2 million as part of the final settlement. This transaction represented the successful resolution of the largest troubled loan relationship at the Company. As of June 30, 2012, there were three loan relationships in the Company exceeding $10.0 million, two of which were performing.

Net Interest Income and Margin

Net interest income for the three months ended June 30, 2012 was $16.4 million, an improvement of $541,000 over the prior quarter. Improvement was also seen in the net interest margin, which increased 25 basis points from 3.30% during the first quarter to 3.55% during the second quarter.

Total interest income decreased $668,000 in the second quarter of 2012 compared to the first quarter of 2012, primarily as a result of a decrease of $60.0 million in the average balance of outstanding loans.

Total interest expense decreased $1.2 million for the quarter ended June 30, 2012, as compared to the previous quarter. The change was due primarily to reductions of $1.1 million in interest paid on deposits. The overall decrease in interest expense was attributable to the maturity of the Company’s high-yielding Step CDs and a shift in deposit balances from certificates of deposit to relatively less expensive non-time deposits. The average outstanding balance of certificates of deposit declined by $56.3 million, while non-time deposits increased by $33.4 million. Also contributing to the change was a reduction of 46 basis points in the cost of certificates of deposit. Interest expense also improved due to the prepayment of $25.0 million in term borrowings.

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Net interest income for the six months ended June 30, 2012 and June 30, 2011, was $32.3 million and $34.7 million, respectively. Despite a decrease of $2.4 million in net interest income, the net interest margin remained relatively flat. The net interest margin was 3.42% for the six months ended June 30, 2012, compared with 3.45% for the six months ended June 30, 2011.

Total interest income decreased $8.1 million in the first six months of 2012 compared to the first six months of 2011, primarily as a result of a decrease of $288.2 million in the average balance of outstanding loans. This change in interest income was further impacted by a decrease in the yield on net loans of 22 basis points.

Total interest expense decreased $5.7 million for the six months ended June 30, 2012, as compared to the same period last year. The change was due primarily to reductions of $5.4 million in interest paid on deposits. The overall decrease in interest expense was attributable to the maturity of the Step CDs and a shift in deposit balances from certificates of deposit to relatively less expensive non-time deposits. The average outstanding balance of certificates of deposit declined by $205.4 million, while non-time deposits increased by $49.7 million. Also contributing to the change was a reduction of 70 basis points in the cost of certificates of deposit, as well as a decrease in the cost of non-time deposits of 18 basis points.

Noninterest Income

Noninterest income increased in the second quarter of 2012 to $6.9 million, as compared to $5.1 million in the first quarter of 2012. The $1.8 million increase in noninterest income was largely driven by a gain of $3.6 million recognized on the sale of available for sale securities. This gain was offset by a decrease in service fees and other charges, which reflected the recognition of a negative valuation allowance adjustment on mortgage servicing rights of $507,000 in the second quarter. Further impacting this comparison was the fact that Home Savings recognized a positive valuation allowance adjustment on mortgage servicing rights of $948,000 in the first quarter.

Noninterest income increased in the first six months of 2012 to $12.0 million, as compared to $9.3 million for the first six months of 2011. This increase in noninterest income was primarily a result of the recognition of additional security gains. In the first six months of 2012, Home Savings sold securities totaling approximately $225.5 million and consequently recognized a $4.0 million gain. Home Savings also incurred $702,000 fewer losses in the liquidation and revaluation of real estate owned during the six months ended June 30, 2012, as compared to the same period last year.

Noninterest Expense

Noninterest expense was $17.0 million in the second quarter of 2012 as compared to $16.5 million in the first quarter of 2012, or an increase of $550,000. This 3.3% increase is primarily attributable to the prepayment penalties incurred for a planned early paydown of FHLB term advances. In the second quarter of 2012, Home Savings used proceeds from the sale of $33.2 million of securities on which $697,000 in gains were realized to prepay $25.0 million in term advances, and in doing so incurred one-time prepayment penalties associated with the paydowns of $738,000. This transaction will have a positive effect in the future by reducing borrowing costs. The securities sold in this transaction had an effective yield of 2.21%, while the borrowings cost the Company an average of 2.34%.

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Noninterest expense was $33.5 million in the first six months of 2012, compared to $32.4 million in the first six months of 2011 for an increase of $1.1 million. In the first half of 2012, salaries and employee benefits were up $1.6 million. Also contributing to the increase were expenses incurred due to the prepayment of FHLB term advances previously discussed. Professional fees, including legal and other consultants, were higher during the first six months of 2012 due to the engagement of professionals hired to assist management in resolving nonperforming assets at Home Savings.

Capital and Book Value

Home Savings’ Tier 1 leverage ratio was 9.32% as of June 30, 2012, as compared to 8.96% at March 31, 2012. Home Savings’ total risk-based capital ratio was 16.43% at June 30, 2012, as compared to 15.21% at March 31, 2012. Tangible book value per share at June 30, 2012 was $5.94, as compared to $5.77 at March 31, 2012. As of June 30, 2012, Home Savings was in compliance with the capital requirements of the consent order issued by the FDIC and Ohio Division of Financial Institutions.

Home Savings is a wholly-owned subsidiary of the Company and operates 34 full-service banking offices and eight loan production offices located throughout Ohio and western Pennsylvania. Additional information on the Company and Home Savings may be found on the Company’s web site: www.ucfconline.com.

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When used in this press release, the words or phrases “believes,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project”, “will have” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, including changes in economic conditions in the Company’s market area, changes in policies by regulatory agencies, fluctuations in interest rates, demand for loans in the Company’s market area, and competition that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company advises readers that the factors listed above could affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

The Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

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UNITED COMMUNITY FINANCIAL CORP.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

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UNITED COMMUNITY FINANCIAL CORP.

CONSOLIDATED STATEMENTS OF NET INCOME

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UNITED COMMUNITY FINANCIAL CORP.

SELECTED FINANCIAL HIGHLIGHTS

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UNITED COMMUNITY FINANCIAL CORP.

SELECTED FINANCIAL HIGHLIGHTS

(Unaudited)

UNITED COMMUNITY FINANCIAL CORP.

SELECTED FINANCIAL HIGHLIGHTS

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