United Community Banks completes $2.0B sale of Navitas equipment finance business to Wafra

UNITED COMMUNITY BANKS INC

Sale of Navitas Credit Corp. and NLFC Reinsurance Corp. to Wafra funds completed for ~$2.0B cash.
Price reflects 7% premium to par value of Navitas loan portfolio; final price subject to closing adjustments.
Transaction sharpens focus on core Southeastern banking, simplifies model, reduces risk profile.
BofA Securities advised United; legal advisors named for both parties.

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