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Article: United Community Banks acquires Southern Community Bank.
- Article from:
- Global Banking News (GBN)
- Article date:
- June 22, 2009
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Global Banking News-22 June 2009-United Community Banks acquires Southern Community Bank(C)2009 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 22 June 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
United Community Banks Inc (NASDAQ: UCBI) has announced that its wholly-owned subsidiary United Community Bank (UCB), has entered into an agreement with Federal Deposit Insurance Corporation (FDIC) to purchase the assets and assume the deposit liabilities and secured wholesale borrowings of Southern Community Bank.
The move comes as Georgia Department of Banking and Finance has closed Southern Community ...