United Community Banks to acquire First Miami Bancorp in stock-for-stock merger

UNITED COMMUNITY BANKS INC

Each share of First Miami common stock to be exchanged for 40.2685 shares of UCBI common stock.
Transaction expected to close by February 13, 2024, subject to regulatory approvals and First Miami shareholder vote.
Termination fee of $4.5 million payable by First Miami under customary circumstances.
First Miami directors entered into voting and support agreements to vote in favor of the merger.
Merger agreement includes customary representations, warranties, and non-solicitation covenants.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

UNITED COMMUNITY BANKS INC entered into Agreement and Plan of Merger with First Miami Bancorp, Inc. (effective 2023-02-13).

Action: entry
Agreement: merger
Counterparty: First Miami Bancorp, Inc.
Effective: 2023-02-13

Exact text from the filing

On February 13, 2023, United Community Banks, Inc., a Georgia corporation (“United” or the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with First Miami Bancorp, Inc., a Delaware corporation (“First Miami”) and Zamboni Merger Sub, Inc., a Delaware corporation and direct wholly-owned subsidiary of the Company (“Merger Sub”).

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UNITED COMMUNITY BANKS INC filing history →

Source: SEC EDGAR

accession 0001104659-23-022325

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