secwatch.observer — SEC 8-K summary
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Issuer:     UNITED COMMUNITY BANKS INC (UCB)
CIK:        0000857855
Form:       8-K
Filed at:   2023-01-04T23:59:59+00:00
Accession:  0001104659-23-000785
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

United Community Banks closes $296M stock merger with Progress Financial Corp.
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- Effective Jan 3, 2023: each Progress share converted to 0.770 UCBI shares; total ~8.771M new UCBI shares issued.
- Transaction valued at ~$296.4M based on UCBI Dec 30, 2022 closing price of $33.76.
- Progress had $1.7B assets, $1.4B loans, $1.5B deposits as of Sept 30, 2022; 14 branches in AL and FL Panhandle.
- David Nast named United Community Bank State President for Alabama and Florida Panhandle.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/857855/000110465923000785/0001104659-23-000785-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/857855/000110465923000785/tm231415d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-000785

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer