UCBI News & Events

United Community Banks announced that the company's board of directors approved a common stock repurchase program, authorizing the repurchase of up to $100M of its outstanding common stock on the open market, in privately negotiated transactions, or in any other manner that complies with the provisions of the Securities Exchange Act of 1934, as amended. The company may make repurchases under the Stock Repurchase Program from time to time beginning after the expiration of its current common stock repurchase program on December 31 and ending on December 31, 2026. The company has repurchased $44M of shares in 2025 under its current common stock repurchase program.

United Community Banks is redeeming all outstanding shares of the Company's 6.875% Series I Non-Cumulative Perpetual Preferred Stock on September 15. The announced redemption reflects United's ongoing active management of its capital structure. Payment of the cash redemption price equal to $25,000 per share of Preferred Stock will be made on the Redemption Date. United will redeem the $88M aggregate liquidation preference of the Preferred Stock using cash on hand. The Redemption Price does not include the previously declared dividend payment that is due on the Redemption Date and that will be paid immediately prior to the redemption of the Preferred Stock on the Redemption Date to holders of record on the record date for such dividend payment. On the Redemption Date, simultaneous with the redemption of the Preferred Stock, the depositary for the Preferred Stock will redeem 3,661,650 depositary shares, each representing a 1/1000th interest in a share of the Preferred Stock, for an amount per Depositary Share equal to 1/1000th of the Redemption Price per share of Preferred Stock. On and after the Redemption Date, dividends in respect of the Preferred Stock represented by the Depositary Shares shall cease to accrue, the Preferred Stock and the Depositary Shares shall no longer be deemed outstanding and all rights of the holders of the Preferred Stock and holders of receipts evidencing the Depositary Shares shall cease and terminate, except only the right of the holders of the Preferred Stock to receive the Redemption Price and the right of the holders of receipts evidencing the Depositary Shares to receive 1/1000th of the Redemption Price, in each case, without interest. The Depositary Shares are held through the Depository Trust Company and will be redeemed in accordance with the procedures of DTC. Payment to DTC will be made by Continental Stock Transfer & Trust Company, as the depositary, in accordance with the Deposit Agreement governing the Depositary Shares.