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News Breaks
March 25, 2014
09:21 EDTUCBIUnited Community enters into 640k share sales agreement with Sandler O'Neill
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January 27, 2015
19:38 EDTUCBIUnited Community to acquire MoneyTree Corp
United Community Banks and MoneyTree Corporation announced a definitive agreement for United to acquire MoneyTree and its wholly-owned bank subsidiary, First National Bank, or FNB. The resulting combination will enhance both United's position in key growth markets in East Tennessee and its ability to offer expanded banking products to FNB's customer base. The transaction has been unanimously approved by the boards of each company and is expected to close in Q2. Under the terms of the merger agreement, MoneyTree shareholders will receive merger consideration consisting of 80% stock and 20% cash in aggregate, with a fixed exchange ratio that is valued at approximately $52M based on United's closing price of $17.65 per share. The transaction is expected to be slightly accretive to United's fully diluted earnings per share in FY15, and 3% accretive in FY16 and FY17. The transaction is expected to be less than 1% dilutive to United's tangible book value per share with an earn-back period of less than three years, including one-time transaction costs. Under the transaction, FNB will merge into United's bank subsidiary United Community Bank and operate under its brand. Upon completion of the transaction, United will have $8B in total assets. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory approvals and the approval of MoneyTree's shareholders.
16:02 EDTUCBIUnited Community Banks names Rob Edwards as Chief Credit Officer
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January 21, 2015
13:36 EDTUCBIUnited Community upgraded to Outperform from Market Perform at Fig Partners
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05:34 EDTUCBIUnited Community Banks reports Q4 EPS 30c, consensus 30c
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