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United Community Banks in Blairsville, Ga., reported a huge profit after a tax reversal allowed it to purge its balance sheet of bad loans.
July 25 -
The Treasury Department plans to auction its remaining stakes in 16 banks as it continues to unwind its holdings from the Troubled Asset Relief Program.
May 30 -
The Securities and Exchange Commission will not punish United Community Banks after an accounting investigation, the Blairsville, Ga., company said Monday.
March 25
United Community Banks (UCBI) in Blairsville, Ga., plans to raise up to $35 million in a debt offering.
The $7.2 billion-asset company will auction between $15 million and $35 million of senior notes, it announced Friday. The offering will begin Aug. 5 and close Aug. 7. The notes are expected to carry an interest rate between 5.50% and 6.15%.
United Community plans to auction the notes through Zions Direct, the online broker-dealer subsidiary of Zions Bancorp. (ZION). Macquarie Capital and Goldman Sachs (GS) are the joint bookrunners for the offering.
United Community plans to use the proceeds for general corporate purposes, including the repurchase of debt.
The company recently reported
