United Community Banks, Inc. · NYSE:UCB
United Community Banks — Merger or Acquisition (May 2022)
13 slides from United Community Banks's merger presentation, May 4, 2022
Slide 1: Acquisition of Progress Financial Corporation
Acquisition of Progress Financial Corporation Expanding Further Into Attractive Southeastern Markets May 4, 2022
Slide 2: Important Information for Stockholders and Investors
Important Information for Stockholders and Investors This presentation relates to a proposed merger of United Community Banks, Inc. (“United”) and Progress Financial Corporation (“Progress”). In connection with the proposed merger, United is required to file with the Securities and Exchange Commissi
Slide 3: Cautionary Statement About Forward-Looking Statements
Cautionary Statement About Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In general, forward-looking statements usual
Slide 4: Strengthening Our Position as the Premier Southeastern Banking Franchise
Strengthening Our Position as the Premier Southeastern Banking Franchise Operating in Attractive Growth Markets $1.9 billion community bank operating in attractive markets ─ Top 10 market share in the fast-growing Huntsville MSA; Alabama’s largest city ─ Track record of successful growth and hirin
Slide 5: Overview of Progress Financial Corporation
Overview of Progress Financial Corporation Financial Snapshot Huntsville 2019Y 2020Y 2021Y 2022 Q1 Florence Decatur Assets $1,209 $1,579 $1,780 $1,860 United Community Banks, Inc. (186) Gross Loans $957 $1,164 $1,232 $1,285 Deposits $1,012 $1,397 $1,584 $1,665 Progress Financial Corporation (14) Bir
Slide 6: Transaction Highlights
Transaction Highlights • 0.77 shares of United common stock to be issued for each share of Progress common stock • Implied aggregate transaction value of $271.5 million Consideration • Anticipated issuing of 8.6 million shares of UCBI stock to Progress common shareholders • Options to be rolled or c
Slide 7: Expansion into Attractive Southeastern Markets
Expansion into Attractive Southeastern Markets Huntsville, AL Birmingham, AL • Home to Alabama's largest city, Huntsville, • Financial services hub with the 12th largest with population of over 215,000¹ banking center in the nation and 3rd largest in the Southeast • NASA’s Marshall Space Flight Cent
Slide 8: Continued Expansion in Demographically Attractive Markets
Continued Expansion in Demographically Attractive Markets High-Growth Major Southeast MSAs1 High-Growth Mid-Size Southeast MSAs2 ’22 – ’27 ’22 – ’27 ’22 ’22 – ’27 ’22 – ’27 ’22 Proj. Pop. ’22 Proj. HHI. Total Deposits Proj. Pop. ’22 Proj. HHI. Total Deposits Rank MSA Growth % Pop. (M) Growth % ($M)
Slide 9: Summary Transaction Rationale
Summary Transaction Rationale Continued expansion into attractive, Southeastern markets benefitting from long term demographic trends and business formation Progress’ track record of double-digit growth, primarily through team lift-outs and organic loan originations Senior leadership and market lend
Slide 10: Appendix
Appendix 10
Slide 11: Executive Management and Key Market Leaders
Executive Management and Key Market Leaders Dav id Lee Nast Dabsey Maxw ell President, CEO & Director CFO & COO 41 years of banking experience 17 years of banking experience Lee R. Hoekenschnieder Beth B. Richardson J.E.P. Buchanan Director & Huntsv ille Madison Market CCO & Senior Lender Market Pre
Slide 12: Comprehensive Due Diligence & Loan Review Process
Comprehensive Due Diligence & Loan Review Process Leveraging Our Experience of Operational Review Qualitative and Quantitative Approach to Credit 45 ~800 ~17K • Deep review of loan files with 14 individuals D ata Room D ata Room D ata Room Pa rticipants Files Reviewed Pages Reviewed participating, i
Slide 13: Recent Awards and Recognition
Recent Awards and Recognition United Accolades Progress Accolades Ranked #1 in Customer David Nast, President and CEO of Satisfaction w ith Consumer Progress Bank, reappointed in Banking in the Southeast, 8 of the 2022 to Federal Reserve last 9 years (J.D. Pow er) Bank of Atlanta Board Named o
United Community Banks — Merger or Acquisition (May 2022) on 6ix