M&A
confidence high
sentiment positive
materiality 0.85
United Community Banks to acquire First Miami Bancorp in $115.9M all-stock deal
UNITED COMMUNITY BANKS INC
- All-stock transaction valued at ~$115.9M; exchange ratio 40.2685 UCBI shares per FMIA share.
- First Miami has $1.0B assets, $594M loans, $867M deposits, and $310M in AUM.
- Deal expected to be accretive to UCBI EPS by ~$0.09 (3%) in 2024, excluding transaction costs.
- Closing expected in Q3 2023, subject to regulatory and First Miami shareholder approval.
- First Miami shareholders also to receive special cash dividend from sale of investment securities.