RBNC - Reliant Bancorp pops on merger deal with United Community Banks in an all-stock deal

SB/iStock via Getty Images Under the terms, United Community Banks (UCBI) will acquire Reliant Bancorp (RBNC) and its wholly-owned subsidiary, Reliant Bank, in an all-stock transaction. The deal is valued at ~$517 million, or $30.58 per share of Reliant common stock, based on United’s closing stock price of $31.07 on July 13, 2021. Reliant shareholders will receive 0.9842 shares of United common stock for each share of Reliant common stock outstanding. The Merger is expected to be accretive to United's EPS, excluding transaction costs, by approx. $0.15/share in 2022 and $0.22/share in 2023. The Merger is expected to be completed in Q1'22, subject to necessary approvals. The Companies to release Q2 results after the market close on July 20, 2021. UCBI -0.1%, RBNC +8% after-hours.

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Reliant Bancorp pops on merger deal with United Community Banks in an all-stock deal