UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
March 21, 2013
United Community Banks, Inc.
(Exact name of registrant as specified in its charter)
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Georgia
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No. 001-35095
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No. 58-180-7304
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(State or other jurisdiction of
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(Commission File Number)
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(IRS Employer
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incorporation)
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Identification No.)
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125 Highway 515 East
Blairsville, Georgia 30512
(Address of principal executive offices)
Registrant’s telephone number, including area code:
(706) 781-2265
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))
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Item 8.01
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Other Events
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On March 22, 2013, United Community Banks, Inc. (the “Company”) received a letter dated March 21, 2013 from the staff of the United States Securities and Exchange Commission (the “SEC”) stating that the SEC’s investigation of the Company, primarily relating to the establishment of a deferred tax valuation allowance and the restatement of its financial statements, has been concluded and that the staff would not recommend any enforcement action by the SEC against United.
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| Item 9.01 | Financial Statements and Exhibits | ||
| (d) | Exhibits | ||
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Exhibit
No.
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Description
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| 99.1 | News Release, dated March 25, 2013 | ||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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UNITED COMMUNITY BANKS, INC.
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By:
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/s/ Rex S. Schuette | |
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Rex S. Schuette
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Executive Vice President and
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Chief Financial Officer
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Date: March 25, 2013
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For Immediate Release
For more information:
Rex S. Schuette
Chief Financial Officer
(706) 781-2266
Rex_Schuette@ucbi.com
UNITED COMMUNITY BANKS, INC. REPORTS SEC INVESTIVATION PRIMARILY RELATED TO UNITED’ DEFERRED TAX VALUATION HAS BEEN CONCLUDED AND NO ENFORCEMENT ACTION UNDERTAKEN
BLAIRSVILLE, GA – March 25, 2013 – United Community Banks, Inc. (“United”) (NASDAQ: UCBI) reported today that the Securities and Exchange Commission (“SEC”) has concluded its investigation primarily related to United’s deferred tax valuation allowance and no regulatory enforcement action is to be undertaken. As previously reported in its Current Report on Form 8-K filed on May 16, 2012, United received from the SEC’s Division of Enforcement a notice of investigation that included a subpoena seeking information relating primarily to United’s deferred tax asset valuation allowance, the establishment of which resulted in certain restatements of United’s financial statements, and United’s 2009 and 2010 goodwill impairment charges.
“We are pleased to learn that the staff of the SEC had completed its process and no enforcement action against United is to be recommended. We place a premium on regulatory compliance in everything we do. We are gratified this matter is over and fully behind United,” said Jimmy Tallent United’s President and Chief Executive Officer.
About United Community Banks, Inc.
Headquartered in Blairsville, United Community Banks, Inc. is the third-largest bank holding company in Georgia. United has assets of $6.8 billion and operates 103 banking offices throughout north Georgia, the Atlanta region, coastal Georgia, western North Carolina, east Tennessee and northwest South Carolina. United specializes in providing personalized community banking services to individuals and small to mid-size businesses and also offers the convenience of 24-hour access through a network of ATMs, telephone and on-line banking. United’s common stock is listed on the Nasdaq Global Select Market under the symbol UCBI. Additional information may be found at United’s website at www.ucbi.com.