United Community Banks Inc. (NASDAQ: UCBI) has completed its merger with Reliant Bancorp Inc. (NASDAQ: RBNC) and its subsidiary Reliant Bank. Following the deal, Reliant Bank will be merged into United’s bank subsidiary, United Community Bank.
Reliant operates a 24 branch network located primarily in the Nashville, Clarksville and Chattanooga areas. The firm also operates a manufactured housing finance group located in Knoxville. Reliant has a total of $3 billion in assets, $2.5 billion in loans and $2.5 billion in deposits.
“We are excited and honored to welcome this group of outstanding bankers to the United team,”said Lynn Harton, chairman and CEO of United. “Reliant shares our passion for providing a high level of community partnerships and involvement, employee satisfaction, and customer service.”
D.A. Davidson & Co., Morgan Stanley & Co. LLC and Piper Sandler & Co. acted as financial advisors to United, and Nelson Mullins Riley & Scarborough LLP served as United’s legal advisor. Raymond James & Associates, Inc. and Credit Suisse Securities (USA) LLC served as financial advisors to Reliant, and K&L Gates LLP served as Reliant’s legal advisor.