United Community Banks said it completed a set of strategic initiatives that included the sale of its Atlanta branch network to Ameris Bank and the sale of its valuation advisory business to Chartwell Financial Advisory.
The company said the branch sale involved 14 locations and about $1.0 billion of deposits, along with roughly $500 million of loans. United estimated the transaction would reduce tangible book value by about 11 cents per share.
United also said it sold its valuation advisory business, which generated about $28 million of annual revenue in 2025. The company said that business had produced about $8 million of annual pre-tax income, and the sale was expected to reduce annual non-interest income by roughly $28 million and annual pre-tax income by about $8 million.
On the funding side, United said it completed a debt issuance and a securities repurchase. It issued $200 million of 6.50% fixed-to-floating rate subordinated notes due 2035 and repurchased $200 million of its 4.50% subordinated notes due 2030. The company said the exchange would lower annual interest expense by about $3 million.
United also said it entered into a new $100 million share repurchase program.
The company described the branch and advisory business sales as part of a broader simplification effort aimed at reducing complexity and sharpening its focus. As a result of these announcements, the company's shares have moved -0.45% on the market, and are now trading at a price of $35.48. If you want to know more, read the company's complete 8-K report here.
