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In 2015, Palmetto Bancshares, Inc. merged with United Community Banks. [4] On June 27, 2017, Four Oaks Fincorp of Four Oaks, North Carolina, started in 1912, agreed to a $124 million deal which would give United Community Bank 14 more North Carolina branches, twelve of those in the Triangle and an additional $737 million in assets. [6]
The bank, which took on $299 million preferred stock Troubled Asset Relief Program (TARP) funding from the United States Treasury in 2008—which is now a loss to the Treasury—is also expected to cost the FDIC some $1.4 billion in losses, the bulk of the losses on about $7.7 billion of UCB's assets acquired by East West.
The bank was established in 1889 as FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF DEFIANCE. [2] In 2000, the name of the bank was changed to First Federal Bank of the Midwest. [2] In March 2008, the company acquired Pavilion Bancorp Inc. and its subsidiary, the Bank of Lenawee. [3]
United Community Bank of West Kentucky was established in late 2001 with veteran banker Certain as its CEO, and has grown quickly since then. It reported total assets of $372.7 million as of Sept ...
Stephen A. Rhoades, "Bank Mergers and Industrywide Structure, 1980–1994," Washington: Board of Governors of the Federal Reanuary 1996. (Staff study 169) Steven J. Pilloff, "Bank Merger Activity in the United States, 1994–2003," Washington: Board of Governors of the Federal Reserve System, May 2004. (Staff study 176)
UCB (company), a global biopharmaceutical manufacturer; Ulanqab Jining Airport, IATA code UCB; Unconjugated Bilirubin, in clinical biochemistry, the yellow breakdown product of normal heme catabolism; Union of Burkinabé Communists, a political party in Burkina Faso in the 1980s; Unit Control Block, in computing, an area of memory in IBM's z/OS
The present system of bankers' banks developed in the 1970s–80s, when independent banks found that their correspondent banks no longer provided a satisfactory level of service and in some cases competed against them. The first institution organized exclusively as a bankers' bank was United Bankers' Bank, formed in Minnesota in 1975. [1]
With assets at $48.5 billion and 250 banking centers, Old National Bancorp is the largest financial services bank holding company headquartered in Indiana and one of the top 30 banking companies in the U.S. [4] Old National Bank has locations in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Tennessee, and Wisconsin.