---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-100127"
form_type: "8-K"
ticker: "UCB"
cik: "0000857855"
company_name: "UNITED COMMUNITY BANKS INC"
filed_at: "2023-09-13T23:59:59+00:00"
generated_at: "2026-06-10T19:43:04.473956+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# UCBI expects ~$19M Q3 charge-off from syndicated credit to bankrupt oil distributor

## Summary
- Participation of 8.7% in a $218.5M syndicated credit led by First Horizon Bank to a wholesale oil distributor.
- Borrower filed Chapter 11 bankruptcy on March 20, 2023; converted to Chapter 7 liquidation on August 24, 2023.
- Credit was placed on nonaccrual in Q1 2023; minimal recovery expected, resulting in ~$19.0M charge-off in Q3.
- United Community Banks, Inc. (UCBI) expects the charge-off to increase third-quarter charge-offs materially.

## SEC filing metadata
- accession: 0001104659-23-100127
- form_type: 8-K
- ticker: UCB
- cik: 0000857855
- company_name: UNITED COMMUNITY BANKS INC
- filed_at: 2023-09-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/857855/000110465923100127/0001104659-23-100127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/857855/000110465923100127/tm2326009d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-100127
- JSON: https://secwatch.observer/filing/0001104659-23-100127.json
- Plain text: https://secwatch.observer/filing/0001104659-23-100127.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.