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): February 10, 2015
UNITED COMMUNITY BANKS, INC.
(Exact name of registrant as specified in its charter)
| Georgia | No. 001-35095 | No. 58-180-7304 |
| (State or other jurisdiction of | (Commission File Number) | (IRS Employer |
| incorporation) | Identification No.) |
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:
| q | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| q | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| q | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| q | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February 10, 2015, United Community Banks, Inc. (the “Company”) issued a press release announcing new director and management roles. Effective as of February 10, 2015, the Company’s board of directors has elected (i) Jimmy Tallent, the Company’s chief executive officer, as chairman of the board and chief executive officer; (ii) W.C. Nelson, the Company’s former chairman of the board, to the new position of lead director of the board; and (iii) Lynn Harton, the Company’s chief operating officer, as a director and president and chief operating officer.
Mr. Tallent has 31 years of experience at the Company and 40 years of experience in banking. Mr. Nelson, who has served on the Company’s board since its formation in 1988, has been chairman since 2012. Mr. Harton, who joined the Company in 2012, has over 30 years of banking experience. He was formerly consultant and special assistant to the chief executive officer, and executive vice president of commercial banking, at TD Bank Financial Group in Greenville, South Carolina. Prior to that, he was president and chief executive officer of The South Financial Group, also in Greenville, South Carolina.
A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
|
Exhibit No. |
Description | |
|
99.1
|
Press Release dated February 10, 2015
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| UNITED COMMUNITY BANKS, INC. | ||
| By: | /s/ Rex S. Schuette | |
| Rex S. Schuette Executive Vice President and | ||
| Chief Financial Officer | ||
Date: February 10, 2015
INDEX TO EXHIBITS
|
Exhibit No. |
Description |
|
99.1
|
Press Release dated February 10, 2015
|
UNITED COMMUNITY BANKS, INC. ANNOUNCES
NEW DIRECTOR AND MANAGEMENT ROLES
| § | Tallent elected chairman and chief executive officer |
| § | Nelson becomes lead director |
| § | Harton elected to the board and named president and chief operating officer |
BLAIRSVILLE, GA – February 10, 2015 – United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced that, consistent with the company’s long-term growth plans, the board of directors has enhanced the capabilities, strength and expertise of the board and executive leadership. Specifically, the board has elected:
| - | Jimmy Tallent, United’s chief executive officer, as chairman and chief executive officer; |
| - | W.C. Nelson to the new position of lead director ; and, |
| - | Lynn Harton, United’s chief operating officer, as a director and promoted him to president and chief operating officer. |
Mr. Nelson, who has served on the United board since its formation in 1988, has been chairman since 2012. “United is well positioned to build inherent value and realize attractive long-term growth potential,” Nelson said. “These enhancements help assure that our shareholders’ interests are well served by a board and executive leadership with deep experience in our organization, our strategy and our markets. We are pleased to have the continued leadership of Jimmy Tallent, and I look forward to working with him and the board as lead director.”
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Tallent, who has 31 years of experience at United and 40 years in banking, said, “W.C.’s deep knowledge and experience make him uniquely qualified to serve as lead director. We are also fortunate to have Lynn Harton, a proven and highly-respected banking executive, join our board and become United’s president. Lynn is helping us build a sound strategy to grow the business and franchise value. His assumption of the president role further deepens the expertise of our executive leadership.”
Harton, who joined United in 2012, has over 30 years of banking experience. He was consultant and special assistant to the chief executive officer, and executive vice president of commercial banking, at TD Bank Financial Group in Greenville, S.C. Prior to that, he was president and chief executive officer of The South Financial Group, also in Greenville.
About United Community Banks, Inc.
United Community Banks, Inc. is a bank holding company based in Blairsville, Georgia, with $7.6 billion in assets. The company's banking subsidiary, United Community Bank, is one of the Southeast's largest full-service banks, operating 103 offices in Georgia, North Carolina, South Carolina and Tennessee. The bank specializes in personalized community banking services for individuals, small businesses and corporations. A full range of consumer and commercial banking services includes mortgage, advisory, treasury management and other products. In 2014, United Community Bank was ranked first in customer satisfaction in the southeast by J.D. Power and in 2015 was ranked fourteen on the Forbes list of America’s Best Banks. Additional information about the company and the bank’s full range of products and services can be found at www.ucbi.com.
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