UNITED COMMUNITY BANKS INC

United Community Banks, Inc. announced its Board of Directors approved a 4% increase in the quarterly cash dividend on its common stock, raising it to $0.26 per share. The dividend is payable on October 5, 2026, to shareholders of record as of September 15, 2026. As of June 30, 2026, the company reported $29.1 billion in assets and operates 200 offices across several states.

United Community Banks announced a definitive agreement to sell its equipment finance subsidiary, Navitas Credit Corp., for an estimated $1.99 billion in cash. This strategic divestment led to the reclassification of $1.91 billion in financing receivables to held for sale and the release of a $38.5 million allowance for credit losses. Concurrently, the company reported strong Q2 2026 financial results, with net income increasing to $115.6 million and basic EPS rising to $0.95, significantly up from the prior year.

United Community Banks, Inc. announced the appointment of Carl Carande to its Board of Directors, effective August 1, 2026. The Board increased its size from 12 to 13 directors to accommodate this appointment. Mr. Carande will also serve on the Board of the company's banking subsidiary and the Board's Risk Committee. He brings 40 years of experience from financial services and Big Four consulting, including leadership roles at KPMG LLP.

United Community Banks, Inc. announced the completion of its merger with Peach State Bancshares, Inc., effective August 1, 2026. Following the merger, Peach State Bank & Trust, a subsidiary of Peach State Bancshares, was merged into United Community Bank. Peach State Bank, headquartered in Gainesville, Georgia, reported total assets of $784 million, total loans of $524 million, and total deposits of $707 million as of June 30, 2026. The integration of Peach State Bank under the United Community brand is expected to be completed in the first quarter of 2027.

United Community Banks, Inc. announced the completion of its merger with Peach State Bancshares, Inc., effective August 1, 2026. Following this, Peach State Bank & Trust, a subsidiary, merged into United Community Bank. Peach State Bank, headquartered in Gainesville, Georgia, reported total assets of $784 million, total loans of $524 million, and total deposits of $707 million as of June 30, 2026. This acquisition deepens United's presence in Hall County, Georgia, with full integration expected by the first quarter of 2027.

United Community Banks, Inc. announced strong financial results for the second quarter ended June 30, 2026, with GAAP EPS of $0.95 and operating EPS of $0.71. The company reported robust annualized loan growth of 6.8% and net interest margin expansion for the sixth consecutive quarter, reaching 3.68%. Strategic actions, including the pending sale of Navitas equipment finance business and the acquisition of Peach State Bank, are expected to strengthen the core banking business. The quarter's results included a $38.5 million provision release due to the reclassification of Navitas loans to held-for-sale and a $4.5 million expense for a Navitas California lender's license settlement.

United Community Banks, Inc. and Peach State Bancshares, Inc. announced the election deadline for Peach State shareholders to choose their preferred merger consideration. The deadline is July 20, 2026, at 5:00 p.m. Eastern Time. United has received all necessary regulatory approvals, and the merger is expected to close on August 3, 2026, subject to remaining conditions. Shareholders can elect to receive either $31.75 in cash or 0.8978 shares of United common stock per share, with the overall consideration prorated to be 50% cash and 50% stock.

United Community Banks, Inc. announced it will release its second quarter 2026 financial results on Tuesday, July 21, 2026, before the stock market opens. The company will also host a conference call at 9:00 a.m. EDT on the same day to discuss its financial results, business highlights, and outlook. Participants can pre-register for the call or dial in directly, and a webcast will be available on the company's investor relations website.

United Community Banks, Inc. announced the execution of a definitive agreement to sell its equipment finance business, consisting of Navitas Credit Corp. and NLFC Reinsurance Corp., to funds managed by Wafra Inc. for $1.9 billion in cash. This strategic divestment aims to enhance United's liquidity and capital strength by focusing on its core Southeastern relationship banking business. The transaction is expected to yield a one-time pre-tax earnings benefit of $109 million and significantly reduce the risk profile of United's loan portfolio. The sale is anticipated to close in the third quarter of 2026.

United Community Banks, Inc. announced a definitive agreement to sell its equipment finance business, Navitas Credit Corp. and NLFC Reinsurance Corp., to funds managed by Wafra Inc. for $1.9 billion in cash. This strategic divestment aims to reinforce United's focus on its core Southeastern banking business, enhance liquidity, and strengthen capital. The transaction is expected to generate a $109 million pre-tax earnings benefit and 3% accretion to tangible book value per share, while significantly reducing the risk profile of its loan portfolio.