News Summary
United Community Banks Inc. has successfully completed its merger with ANB Holdings Inc., expanding its presence in the Florida banking sector. The merger, finalized on May 1, 2025, will see ANB Bank transition to the United Community brand by July 11, 2025. With significant total assets and a strong base of customer funds, this strategic acquisition enhances United Community’s operations and customer service capabilities in South Florida, marking a significant milestone in their growth strategy.
Georgia – United Community Banks Inc. has completed its merger with ANB Holdings Inc., marking a significant expansion for the Georgia-based company within the Florida banking sector. The official closing of the merger took place on May 1, 2025, and brings ANB Bank into the United Community family.
The merger includes ANB Bank, which is wholly owned by ANB Holdings Inc. This Florida-based bank will officially transition to operating under the United Community brand during the weekend of July 11, 2025. As of March 31, 2025, ANB Bank held total assets amounting to $452 million, with total loans reported at $317 million and total deposits at $387 million. Of these deposits, over $300 million are classified as non-CD core deposits, indicating a strong base of customer funds.
ANB Bank has a history dating back to its establishment in 1985, with its headquarters located in Oakland Park, Florida. The bank primarily serves customers in three major counties: Miami-Dade, Broward, and Palm Beach. The merger represents a strategic move for United Community Banks Inc. as it aims to enhance its footprint in South Florida.
United Community Banks Inc. currently boasts more than $27.9 billion in assets and operates approximately 200 offices across six states: South Carolina, North Carolina, Florida, Georgia, Alabama, and Tennessee. The company has been headquartered in Greenville, South Carolina, since 2021. This acquisition is part of a broader growth strategy, reflecting United Community’s commitment to expansion and community engagement.
Following the completion of the merger, ANB Bank’s shareholders will receive 1.650 shares of United Community common stock for each share of ANB they own. Financial projections suggest that the merger will be accretive to United Community’s earnings per share by 2026, which is anticipated to be the first full year of consolidated operations.
United Community’s chairman and CEO emphasized the importance of this merger in enhancing customer service capabilities within a desirable market. The company views this acquisition as a stepping stone toward ongoing investments in growth, employee engagement, and community development initiatives in South Florida.
Since 2018, this merger marks the sixth acquisition for United Community Banks Inc., highlighting a sustained commitment to growth and a focus on making a positive impact in communities it serves. The integration of ANB Bank into the United Community structure is expected to bolster both operational expertise and customer service delivery.
As the banking landscape continues to evolve, the successful completion of this merger positions United Community Banks Inc. favorably for future growth opportunities, consolidating its presence and influence within the state of Florida and beyond.
Deeper Dive: News & Info About This Topic
- GlobeNewswire: United Community Banks Inc. Announces Completion of Merger with ANB Holdings Inc.
- Banking Dive: United Community Banks’ $80 Million Acquisition of ANB
- GlobeNewswire: United Community Banks Inc. and ANB Holdings Inc. Announce Merger Agreement
- Upstate Business Journal: United Community Announces Merger with Florida-based ANB Holdings
- Wikipedia: Bank
