United Community Banks, Inc. Completes Acquisition of FinTrust Capital Partners, LLC
July 07 2021 - 8:00AM
United Community Banks, Inc. (NASDAQ: UCBI) (United) has completed
its acquisition of FinTrust Capital Partners, LLC (FinTrust), and
its operating subsidiaries FinTrust Capital Advisors, LLC, FinTrust
Capital Benefit Group, LLC and FinTrust Brokerage Services, LLC.
FinTrust is a 13-year-old investment advisory
firm headquartered in Greenville, South Carolina, with additional
locations in Anderson, South Carolina, and Athens and Macon,
Georgia. The firm provides wealth and investment management
services to individuals and institutions within its markets. As of
March 31, 2021, FinTrust had assets under management of $2.0
billion across its advisory, retirement planning and brokerage
businesses. On a combined basis, United now has $4.4 billion in
assets under management or advisement. FinTrust will become an
operating subsidiary of United and certain businesses currently
operating under the Seaside brand will be combined with FinTrust
and its existing brand. FinTrust’s Managing Partners, Phillip
Brice, Pat Sheridan, and Allen Gillespie and their team will
continue to operate the business.
United’s Chairman and CEO Lynn Harton stated, “Adding FinTrust
significantly accelerates our continued efforts to grow our
investment advisory business, which we have achieved both
organically and with the addition of Seaside last year. We are
excited by the opportunity this partnership brings to provide a
full range of financial services to our customers and we are
pleased to welcome FinTrust’s established team of professionals to
United.”
FinTrust’s Co-founder and Managing Partner,
Phillip Brice, stated, “Our team is highly energized and motivated
by the potential of this partnership. We have already identified
significant opportunities to expand our business as part of United.
Our shared commitment to growing the investment advisory business
and to providing the highest quality service to our clients is
going to lead us to continued success as we expand throughout the
Southeast.”
About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQ: UCBI)
(United) provides a full range of banking, wealth management and
mortgage services for relationship-oriented consumers and business
owners. The company, known as “The Bank That SERVICE Built,” has
been recognized nationally for delivering award-winning service.
United has $18.6 billion in assets and 161 offices in Florida,
Georgia, North Carolina, South Carolina and Tennessee along with a
national SBA lending franchise and a national equipment lending
subsidiary. In 2021, J.D. Power ranked United highest in customer
satisfaction with retail banking in the Southeast, marking seven
out of the last eight years United earned the coveted award. United
was also named "Best Banks to Work For" by American Banker in 2020
for the fourth year in a row based on employee satisfaction. Forbes
included United in its inaugural list of the World’s Best Banks in
2019 and again in 2020. Forbes also recognized United on its 2021
list of the 100 Best Banks in America for the eighth consecutive
year. United also received five Greenwich Excellence Awards in 2020
for excellence in Small Business Banking, including a national
award for Overall Satisfaction. Additional information about United
can be found at www.ucbi.com.
About FinTrust Capital Partners, LLC
FinTrust Capital Partners, LLC (FinTrust)
provides investment advisory, financial planning, and securities
brokerage services to private wealth and corporate and
institutional customers. FinTrust’s mission is to deliver
“Financial Peace of Mind with Unequaled Confidence and Conviction.”
FinTrust has over $2.0 billion in client assets under management in
four offices across South Carolina and Georgia. Additional
information about FinTrust can be found at
www.fintrustadvisors.com.
Caution About Forward-Looking Statements
Certain statements in this press release may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that include projections, predictions,
expectations, or beliefs about future events or results or
otherwise and are not statements of historical fact. Such
statements are often characterized by the use of qualified words
(and their derivatives) such as “may,” “believe,” “expect,”
“anticipate,” “intend,” “will,” “should,” “plan,” “estimate,”
“predict,” “continue” and “potential” or the negative of these
terms or words of similar meaning or other statements concerning
opinions or judgments of United and its management about future
events. Although United believes that its expectations with respect
to forward-looking statements are based upon reasonable assumptions
within the bounds of its existing knowledge of its business and
operations, there can be no assurance that actual results,
performance, or achievements of United will not differ materially
from any future results, performance, or achievements expressed or
implied by such forward-looking statements; such statements are not
guarantees of future performance. Forward-looking statements are
subject to numerous assumptions, risks and uncertainties that
change over time and could cause actual results or financial
condition to differ materially from those expressed in or implied
by such statements. Actual future results and trends may differ
materially from historical results and or those anticipated
depending on a variety of factors, including, but not limited to
the factors and risk influences contained in the cautionary
language included under the headings “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” and
“Risk Factors” in United’s Form 10-K for the year ended December
31, 2020 and other periodic reports subsequently filed by United
with the SEC, available on the SEC website, www.sec.gov. For any
forward-looking statements made in this press release, United
claims the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995.
For more information:
Jefferson HarralsonChief Financial Officer(864)
240-6208Jefferson_Harralson@ucbi.com
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