Core Viewpoint - United Community Banks, Inc. is redeeming all outstanding shares of its 6.875% Series I Non-Cumulative Perpetual Preferred Stock on September 15, 2025, as part of its active capital management strategy [1][2]. Group 1: Redemption Details - The cash redemption price is set at $25,000 per share of Preferred Stock, equivalent to $25 per Depositary Share, with a total aggregate liquidation preference of $88 million to be redeemed using cash on hand [1][2]. - The redemption will occur simultaneously with the payment of a previously declared dividend to holders of record on the redemption date [2]. - A total of 3,661,650 Depositary Shares will be redeemed, each representing a 1/1000th interest in a share of the Preferred Stock, with dividends ceasing to accrue after the redemption date [2][3]. Group 2: Company Overview - United Community Banks, Inc. is a top 100 U.S. financial institution with $28.1 billion in assets as of June 30, 2025, operating 200 offices across several states [4]. - The company offers a full range of banking, mortgage, and wealth management services and has been recognized for customer satisfaction and as one of the best banks to work for [4]. - United has received multiple awards, including five 2025 Greenwich Best Brand awards and consistent recognition from Forbes as one of the World's Best and America's Best Banks [4].
United Community Banks, Inc. Announces Redemption of All Oustanding Shares of 6.875% Series I Non-Cumulative Perpetual Preferred Stock