United Community Banks and Aquesta Financial Holdings entered into a definitive agreement for United to acquire Aquesta, including its wholly-owned subsidiary, Aquesta Bank. The transaction is valued at approximately $131 million.
United Community Banks agreed to acquire First Madison Bank & Trust in a $52 million all-cash transaction. First Madison will subsequently merge with and into United.
United Community Banks added Clayton Summers to its lending team to focus on the renewable energy sector. Summers has more than 18 years of banking industry experience and deep expertise in renewable energy finance.
United Community Banks appointed Jefferson L. Harralson as EVP and CFO of both the parent company and its banking subsidiary. Harralson was most recently management director at KBW.
United Community Banks is exiting its corporate healthcare lending business based in Nashville, agreeing to sell $190 million of corporate healthcare loans to Hancock Bank.
United Community Banks announced it reached an agreement with Business Carolina to acquire approximately $25 million of loans, $6 million of other assets and employ substantially all BCI employees.