United Community Expands Footprint with ANB Holdings Acquisition

Deal News | Dec 03, 2024 | EIN

United Community Banks, known for its active acquisition strategy, has announced its sixth M&A transaction in as many years, planning to acquire ANB Holdings for $80 million in an all-stock deal set to close in the second quarter of 2025. This acquisition aims to bolster United Community's presence in the Miami metro area, particularly in markets such as Miami Dade, Broward, and Palm Beach counties, which have been experiencing above-average population growth. The target company, American National Bank, holds $439 million in assets, $322 million in loans, and $374 million in deposits, all serviced through just one branch in Oakland Park, Florida. As United Community resumes its acquisitive path after a brief pause to refine its strategy, the bank anticipates integrating ANB Holdings to be accretive to its earnings per share by 2026. This transaction is seen as part of a broader resurgence in banking M&A following a slow period due to regulatory scrutiny and economic uncertainty. Industry experts anticipate further M&A activity, particularly in hot spots like Florida, bolstered by favorable economic conditions and anticipated regulatory changes.

Sectors

Banking
Financial Services
Mergers & Acquisitions

Geography

United States – The article discusses entities and market activity within the United States, particularly focusing on bank M&A in the Southeast region.
Florida – ANB Holdings is based in Florida, and the acquisition targets the growing market in the Miami metropolitan area.
Southeast USA – United Community Banks operates chiefly in the Southeast USA, with the ANB acquisition forming part of its strategy in this geographical zone.

Industry

Banking – The article is focused on the acquisition activity of United Community Banks within the banking sector, aiming to expand its market presence in key growth areas.
Financial Services – The transaction involves asset management as well as regulatory and strategic considerations typical of the financial services sector.
Mergers & Acquisitions – The primary focus of the article is on the M&A transaction between United Community Banks and ANB Holdings.

Financials

$80 million – The value of the acquisition deal between United Community Banks and ANB Holdings, structured as an all-stock transaction.
$439 million – The total assets held by American National Bank, the banking entity under ANB Holdings.
4 cents per share – Expected accretive impact on United Community Banks' earnings per share from the ANB acquisition by 2026.
$322 million – The value of loans held by the target, American National Bank.
$374 million – The value of deposits held by the target, American National Bank.

Participants

Name	Role	Type	Description
United Community Banks	Acquirer	Company	A Southeast-based bank holding company undertaking its sixth acquisition in six years to expand its market presence.
ANB Holdings	Target	Company	A bank holding company based in Oakland Park, Florida, targeted for acquisition to enhance market penetration in Miami.
Jacob Thompson	Commentary	Person	Managing director of investment banking at Samco Capital Markets, providing insights on M&A trends and market conditions.