United Community Banks, Inc. and ANB Holdings, Inc. announced a definitive merger agreement for United to acquire ANB, the parent company of American National Bank, in an all-stock transaction valued at approximately $80 million. American National Bank, headquartered in Oakland Park, Florida, reported total assets of $439 million, with $322 million in total loans and $374 million in total deposits as of September 30, 2024.
This acquisition is expected to strengthen United's presence in the greater Miami market, building on previous investments in the region. The strategic rationale centers on adding a customer service-focused hub in a fast-growing area, aligning with United's values of customer service, employee engagement, and community development.
The merger is projected to be accretive to United's earnings per share by approximately $0.04 in 2026, the first full year of combined operations. The transaction returns are consistent with United's acquisition criteria for tangible book value and targeted internal rates of return. The merger, unanimously approved by both boards, is anticipated to close in the second quarter of 2025, pending regulatory and ANB shareholder approvals.
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