United Community Banks sells Navitas equipment finance business to Wafra for $1.9B cash

UNITED COMMUNITY BANKS INC

Purchase price ~$1.9B cash (~7% premium to par value); estimated $109M pre-tax benefit, 3% TBV accretion, +145bps CET1.
Transaction expected to close Q3 2026; subject to regulatory approvals and customary conditions; no financing contingency for buyer.
Navitas is 10% of total loans but ~50% of net charge-offs (LTM); sale significantly reduces United's risk profile.
Pro forma loan-to-deposit ratio of 74%; excess liquidity reinvested in securities yielding 4.0-4.5% with <2-year duration.
United plans to evaluate capital deployment alternatives post-close, including organic growth, buybacks, and in-market M&A.

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 Stock Purchase Agreement with Navitas TopCo LLC valued at approximately $1,900,000,000 (effective 2026-06-11).

Action: entry
Agreement: asset purchase
Counterparty: Navitas TopCo LLC
Value: approximately $1,900,000,000
Effective: 2026-06-11

Exact text from the filing

On June 11, 2026, United Community Bank (the “Bank”), a South Carolina state-chartered bank and wholly owned subsidiary of United Community Banks, Inc. (“United”), entered into a Stock Purchase Agreement (the “Purchase Agreement”), by and among the Bank, Navitas TopCo LLC (“Purchaser”), a Delaware limited liability company, and, solely for the limited purposes set forth therein, United, providing for the sale of all of the issued and outstanding equity securities of Navitas Credit Corp., a Florida corporation and the Bank’s equipment lease financing subsidiary (“Finance Company”), and NLFC Reinsurance Corp., a Tennessee corporation and the Bank’s reinsurance subsidiary (“Reinsurance Company” and together with Finance Company, the “Companies”).

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Source: SEC EDGAR

accession 0001104659-26-073197

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