United Community Banks Acquiring First National Bank
Troutman Sanders was mentioned in numerous media sources – American Banker, American Daily Stock Report and Middle Georgia CEO– about United Community Banks, Inc. and MoneyTree Corporation announcing a definitive agreement for United to acquire MoneyTree and its subsidiary, First National Bank.
Under the deal, “MoneyTree shareholders will receive merger consideration consisting of 80 percent stock and 20 percent cash in aggregate, with a fixed exchange ratio that is valued at approximately $52 million based on United’s closing price of $17.65 per share,” the article noted. “The transaction is expected to be slightly accretive to United’s fully diluted earnings per share in 2015, and 3 percent accretive in 2016 and 2017 [and] less than 1 percent dilutive to United’s tangible book value per share with an earn-back period of less than three years, including one-time transaction costs.”
Atlanta partner James Stevens and associates Hunter Knowles and Jenny Zupec represented United Community Banks in these transactions.