United Community Banks Closes Merger with MoneyTree, First National Bank
Troutman Sanders was mentioned in a May 4 M&A Navigator article about United Community Banks, Inc. (United) closing its acquisition of MoneyTree Corporation and its subsidiary, First National Bank (FNB).
Under the deal, “MoneyTree shareholders received merger consideration consisting of 80 percent stock and 20% cash in aggregate, with a fixed exchange ratio that is valued at approximately $52 m based on United’s closing price of USD 17.65 per share,” the article noted. FNB will be merged into United Community Bank when conversions of information technology and data processing systems are complete and will operate under the United Community Bank brand as a wholly-owned subsidiary of United.
Atlanta partner James Stevens and associates Jenny Zupec and Hunter Knowles represented United Community Banks in these legal transactions.