Add-on Acquisition • Financial Services

United Community Bank Acquires Palmetto Bancshares

On April 22, 2015, United Community Bank acquired financial services company Palmetto Bancshares from Patriot Financial Partners

Acquisition Context
  • This is United Community Bank’s 7th transaction in the Financial Services sector.
  • This is United Community Bank’s 7th transaction in the United States.
  • This is United Community Bank’s 2nd transaction in South Carolina.

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M&A Deal Summary

Date April 22, 2015
Target Palmetto Bancshares
Sector Financial Services
Buyer(s) United Community Bank
Sellers(s) Patriot Financial Partners
Deal Type Add-on Acquisition

Target Company

Palmetto Bancshares

Greenville, South Carolina, United States
Palmetto Bancshares, Inc. is a provider of retail and commercial banking, and wealth management services to consumers.
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Buyer Overview 1

Buyer

United Community Bank

Blairsville, Georgia, United States

Category Company
Founded 1950
Sector Financial Services
Employees2,979
Revenue 930M USD (2024)
DESCRIPTION

United Community Bank is a provider of financial services. The bank specializes in providing personalized community banking services to individuals, small businesses and corporations. United Community Bank was founded in 1950 and is based in Blairsville, Georgia.


Deal Context for Buyer #
Overall 7 of 11
Sector: Financial Services 7 of 10
Type: Add-on Acquisition 6 of 9
State: South Carolina 2 of 4
Country: United States 7 of 11
Year: 2015 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-28 MoneyTree

Seattle, Washington, United States

MoneyTree, Inc. (dba Moneytree Financial Services) is a national and regional provider of financial services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-04 Tidelands Bancshares

Mount Pleasant, South Carolina, United States

Tidelands Bancshares, Inc. is a bank holding company of Tidelands Bank. Tidelands is a local community bank focused on serving individuals, families, entrepreneurs, and small business.

Buy $2M

Seller Profile 1

SELLER

Patriot Financial Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Patriot Financial Partners is a private equity firm focused on acquiring and investing in community based banks, thrifts, and other related financial services companies throughout the US. Patriot is a hands-on investor and seeks businesses with assets between $500 million and $5 billion. Patriot Financial Partners was established in 2007 and is headquartered in Radnor, Pennsylvania.


Deal Context for Seller #
Overall 2 of 14
Sector: Financial Services 2 of 14
Type: Add-on Acquisition 2 of 11
State: South Carolina 1 of 1
Country: United States 2 of 14
Year: 2015 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Bannockburn Global Forex

Cincinnati, Ohio, United States

Bannockburn Global Forex LLC is a provider of currency trading services headquartered in Cincinnati, Ohio with regional sales offices located in New York, Kansas City, Chicago, Richmond, and Santa Monica. The company specializes in foreign exchange hedging and settlement transactions as well as currency-related advisory services for corporate and institutional clients.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-17 Florida Business BancGroup

Tampa, Florida, United States

Florida Business BancGroup, Inc. is a $536 million in assets bank holding company headquartered in Tampa, FL with five locations in the greater Tampa Bay market. Bay Cities Bank is a commercial bank and the subsidiary of Florida Business BancGroup. Bay Cities Bank focuses on small business and real estate lending. The Bank operates under a relationship-based business model with a specialty in owner managed businesses, affluent individuals and commercial real estate. Florida Business BancGroup and Bay Cities Bank are both private entities.

Sell -