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Stock Market & Financial Investment News

News Breaks
December 30, 2013
07:39 EDTUCBIUnited Community Banks reports TARP redemption, termination of informal MOUs
United Community Banks reported two beneficial developments regarding its capital structure and regulatory matters: the imminent redemption of its TARP and other preferred stock and the termination of its informal regulatory memorandums of understanding. United has received the required regulatory approvals to redeem all of its $196.8M in preferred stock. United will be able to complete the redemption without issuing additional common stock. Included in this total is $180M in Series B preferred stock issued under the U.S. Treasury's TARP Program, which were remarketed earlier this year by the Treasury, and $16.8M in Series A and Series D preferred stock. United plans to utilize its cash on hand, bank dividends of $119M and $40M of short-term debt to redeem the preferred stock. United completed the first phase of this plan by redeeming $75M of the TARP preferred stock on December 27, and intends to redeem the remaining balance of $105M by mid-January 2014. Separately, the Federal Deposit Insurance Corporation and Georgia Department of Banking and Finance have terminated their joint informal memorandum of understanding with United Community Bank. Furthermore, based on discussions with the regulators, United expects the Federal Reserve Bank of Atlanta and the GDBF to terminate their joint informal MOU with the company in the near future.
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April 24, 2014
06:48 EDTUCBIUnited Community Banks reports Q1 EPS 25c, consensus 25c
Reports Q1 book value per share $11.66. Reports Q1 Tier 1 capital ratio 11.05%.

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